Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1811-06-19
WEDNESDAY, JUNE 10.
AN ACT
10 Incorporate the BanE cf Potomac.

.imeried, In Congress assembled, mat
from AMI after tue fourth day OF March,
which will be in the year OF our Lord one
Thousand eight hundred and eleven, all
those who have or hereafter may become
stockholders in the Bank OF Potomac,
their successors and assigns, shall De ana
thew are hereby created and made body
po,:tic. by the name and style OF" The
President, Directors aud Company OF the
Rank of Potomac" and SO shall continue
until the fourth day ofMarch in the year
of our Lord one thousand eight hundred
and twenty-one, and no longer; and by
that name, shall have succession; and
shall be and are hereby made able and ca
vable in law to have, purchase and re-
eeive. possess, enjoy and retain to them
aud their successors, lands, rents, tene-
ments, hereditaments, goods. ehatteis and
effects OF what kind, nature or quality So
ever. and the same to sell. grant, demise,
alien. or dispose of; and by the name a
fcresaid may sue and be sued, plead and
be imp,eaded. answer and be answered,
defend and be defended, IN any court OF
law or equity. And by the name aiore-
said, may do and execute every other
matter and thing, that they are authorised
to DO by virtue Of this act: Prorided al
,yays. That the lands, tenements and he
reditaments, which it shall be lawful for
the said President and Directors to mold,
shall be only such as shall be requisite Tor
their Immediate accommodation, In rela-
tion to the convenient transacting their
bus;ness. and such as shall have been bO-
M tide mortgaged to them by way OF Sc
eurity, or conveyed to them in satisfacti-
on OF debts previously contracted in the
course Of their dealings: Provided also,
That the said President and Directors
shall not purchase any goods, el.atteis OF
effects, unless such as are sold by virtue
of an execution upon ajudsment obtained
by them, except such articles as may Es
necessary for them in transacting tive bu-
siness OF the bank but it shall be lawful
for them to receive and hold such securi-
ties. goods, chatteis and effects. by way
of deposit for advances made by them to
any person or persons. and. on failure OF
payment. the same to sell and dispose Of
ut public sale.
SEC. 2. And be it further enacted. That
the capital of the said bank shall consist,
as it now does, of the sum OF five hundred
thousand dollars. divided into shares OF
one hundred dollars each.
SEC, 8. Ind be il. further enacted, That
every stakeholder, being citizen OF the
United States, shall be entitled to vote at
all elections to be holden by the stock
holders in pursuance Oft:us act, and shall
have as mauy votes in proportion to the
stock he may hold, as follows: For one
share and not exceeding two shares, one
vote each; for every two shares above two
and not exceeding ten, one vote; for eve
ry four shares above ten and not exceed
ing thirty, one vote; for every six shares
above thirty and not exceeding sixty. one
vote; for every eight shares above sixty,
and not exceeding one hundred. one vote;
and for every ten shares above that num-
ber. enc vote. But no person or persons,
bodies corporate or otherwise, shall be en-
titled to more than fifty votes. No share
or shares shall confer right OF suffrage,
which shall net have been holden two c
lender months previous to the day OF eiec
ton. And Ia tie choice Ofdircctors, eve
~ .soekholaer shall vote in person, Eek
eept those who shall reside out ofthe town
of Alexandria, who may vote either in
person, or by,a written ballot by him OF
her s,,b,r ribed, with his or her name. AND
duly acknowledged before a judge OF a
court, a justice OF the peace, or notary
n,,hiie: certificate whereof shall be
made on said ballot. by the sasd .iudgr.
;,stice of the peace, or notary pu,sae. be-
FIRE whom such acknowledgement SHALL he
n,asla and said, ballot shall be by him
sesls;l M, aud addressed e. the cashier of
tie s. Hank. aud heiag transmit ted e said !
e.shier bcfsrn tie time s. the s etiea et
disycioss. said aallasss snd