The Delaware gazette., 1810-04-14

goods, wares, or merchandise whatever, (bills OF
exchange, and bollion only excepted,) except
such ships, vessels, goods, wares, or merchandise,
as shall be truly trinsferred conveyed or pledged
to then, by way of security for money actually
loaned and advanced, or for debts due owing, or
growing due 10 the said company, OF purchased
BY them to secure such debts, SO due to the said
company, or to effect insurance on the property
that may belong, or be thus pledged to the said
company for its security.
ARTICLE XIV.
All bills, bonds, notes, and every contract and
engagement on behalf of the company, shall be
signed by the president, and countcrsigned or at
tested by the cashier of the company, and the
funds of the company shall in no case he held
responsible for airy contract or engagement what
ever, unless the same shall be SO signed, counter
signed or attested as aforesaid, and the books pa
pers, correspondence, and the funds of the com.
pany, shall a, all times be subject to the inspec-
ton of the directors.
ARTICLE XVI.
Dividends of the profits of ,hc company, or
of SO much OF the SAID profits as shall be deemed
cxpcdieut and proper, shall be declared and paid
half yearly during the months Of January and
July in every year, except the hrs, dividend which
shall be decla,cd liz the nonta of January eigh-
teen hundred and eleven, and the said dividends
shall from tine to tlGle be determined by a ma.
jority of the directors, at a meeting to be held
for that purpose, and shall in no case exceed the
amount of the nett profits actually acquired by
the company, SO thai the capital stock thereof,
shall never be impaired by dividends.
ARTICLE XVII.
If the said directors shall at any time wilfully
and knowingly make or declare any dividend
which shall impair the said capital stock, all di-
rectors who shall be present at the making or
declaring such dividend and asserting thereto,
shall be liable in their Individual capacities to the
company, for the amount or propoI ;ion of the
said stock, so divided by the said directors, and
each director who shall be present at the making
or declaring Of such dividend, shall be deemed
to have consented thereto, unless he shall imme-
diatey declare in writing his dissent, the min
utes Of the proceedings Of the hoard.
ARTICLE XVIII.
1t hereby expressly and explicitly declared
TO he the object of the persons associate under
the firm of the president and directors OF the
Bank of Wilmington and Brandywine, that the
property or joint stock OF said company (exclu-
sive of the dividends to be made in the manner
herein ,nentioned,) shall alone he responsible for
the debts and engagements of the company, and
said company, or to whom they shall or may
become in any wise indebted, shall on any pre-.
tence whatever have recourse against the seper-
ate property of any present or future member of
the company, or against their persons, but all
persons accepting any bond, bill, note, or other
contract of this company, signed by the presi-
dent, and countersigned by the cashier of the
company for the time being or dealing with it in
any manner whatsoever, thereby give credit ie-
spectvely to one joint stock or property of said
company, and thereby disavow having recourse
on any present or future member of this compa-
ny except as aforementioned and all suits brought
against this company III any shall be,) shall be
brought against the president for the lime being,
and in case OF his death, removal from office
pending any such suits against him, measures
shall be taken at the expence of the company for
substituting his successor in Office as delend-
ant, so that persons having any demands upon
the company may not be prejudced or delayed
by that event, or if the person sucng shall so on
against the person first named as defendant (uot-
withstandng his death or removal from Office
this company shall take no advantage by writ of
error or otherwise of such proceeding on that
account, & all recoverics had in manner aforesaid
shall be conclusive upon the company, so far as
| to render the company's said joint stock or pro-
per,y liable thereby and no further, and the com.
pany shall Immediately pay the amount of such
recovery out of their joint stock, but not other
| wise, and in case of any suit at law, the presi-
dent shall sign his appearance or file common
bail thereto, it being expressly understood and
declared that all persons dealing with the said
company agree to these terms, and are to be
bound thereby.
ARTICLE XIX.
The directors shall keep fair and regular en-
tries in book provided for that purpose of their
proceedings, and on any question where too di'
rectors shall require it, the yeas and nays of ,hs
! directors voting shall be duly inserted on shei
minutes, and those minutes be at all times or
AsnarJ uYodursd IN the Stockholders when a