Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1811-05-02

he l;.h,e Tor. no written coAtraCt % e"SaS1
49, u,,rss the same shall be signed aho
countersipued iI-the manner OeioFe iheht'oii'
ed, ri. .ho ho.,L =
md BE- il t,lr.her enacted, That the DOCKS
e,nds s. n,ncrs ofthe said society, Shall De SUD-
;cct to the inspection and examination OF IN.
said s0ciety at a general meeting OF "a III.
committee appointed from time TO Tune oy
general meeting.
s5ua be it further enacted, That the shares
owned by the stockholders shall be transferred
IN the books of the society only, according "a
such rules as may be established IN that re-
spect BY the managers; but no STOCK Snai oe
transferred by any stockhoider, who SNAIL a. A.
the tine be indebted TO the SAID society, untii
such debt shall first be paid ard sHy persoi,
who shall accept transfer OF any stock, snaii
;,so facto become a member of the SAID socic'
tr. and the share or shares of any steckholder
or stockholders indebted to the society, shall
always be considered as liable tor sucA dsot
or debts, and may BIZ sold by the managers ior
the payment thereof, under such regulations
as they may from time to time ordaln ana os-
tablish.
.Aad be it further enacted, That the capital
stock and funds of the said society Shall alone
be responsible for its debts and engagements,
and no person who Shall OF may deal with the
society, or to whom they shall in any manner
become indebted, shall, on any pretence what
soever, have recourse to the private properly
of the managers or stockholders OF the said
society, oryasainst their persons; but all per-
sons accepting any bond, bill, note or other
obligation Of the said society, signed ~ the
president, or dealing with it in any MANNER,
Shall be considered as giving credit OH the
joint stock and capital only and all Contracts
bonds, bills, potes and covenants OF any dcho-
animation, made on behalf of the society, and
signed by the president, shall clearly declare,
that the capita. stock and funds OF the society
only, sh;dl BE liable fer the payment thereof
and it IS expressly. declared and understood,
that no contract ol the society which Shall not
CLEARLY exp ress,'ae liability of the property and
funds Of tiG society only, for the payment
tharedt, stlall he obligatory.
@iaaE B. .furthcr erccted, That dividend
shall be made, at the expiration OF each year,
of so much Of the profits OF the said soclcty's
capisat stock as shall be deemed eXpcdlent,
and the same shall be determined by maJoia-
be he Isl for dat purpose, which dividend shall
II no CASE exceed The amount of the nett pro-
hts actually acquired by the SAID society, IN or
der that the capital stcck may never be d.
naiEisHcd.
md be il firthcT enaetcG, That the Prcsi-
dent, managers and clerks Or officers, which
may be employed BY the said society, shall
before they enter Oh the duties OF their res
pectivc Offices; take an oath, for the due and
faithful performance thereof. :. The president
shall be the principal agent, under the direc-
ton OF the managers, for carrying on the bu-
siness of the society, and shall, for his services
be entitled TO such compensation as Shall be
allowed by the managers.
.4nd be it .furthe7 enacted, That the trca-
su7er Shall keep the books of the said society,
which shall contain Just and Fair account Of
the receipts and expenditures, and ali other
transactions relating to said society, and shall
do ard perform al! the business appertainibg
to that Office He shall, before he enters upon
the duties Of that Office, enter into bond with
sufficient security in such sum as shall be fix
ed on by the board of managers, conditioned
for the faithful discharge ot the duties of his
Office, which bond may at any time be put in
suit by the president and managers OF said So
ciety, for any nnalttasance or mistcasance in
Office, or for any misappIication or non-pay-
mcnt Of any sum or sums Of money, Which
he may at any time receive for, Or on account
of said society, and shall either refuse or neg
lect TO pay away, in such manner as the board
OF managers may from time to time prescribe
and order.
hid 7vhereos,-t tho said society may hereaf-
ter find it eXpedient to enlarge their plans Of
operation, and extend its views, so that an IN
crease Of It's capital may become necessary
Be it therefore, enacted, That the sad socie-
ty shall have power and authority by subscrip- /
ton to increase its capital stock to an amount
not exceeding the sum of Twenty Thousand
Dollars, whenever majority of stockholders,
who shall be'the owners Of at least one half of
the original capital stock, shall deem it advisa-
BILE and expedient to do so and, before any
subscription shah be opened for the purpose
of increasing the said capital stock, the presi-
dent and managers shall convene the stock
holders, for the time being, for the purpose of
ascert..ining their opinions upon the subject