The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-03-26

stock he may hold, as follows : For one share and I
not exceeding Two shares, one vote fcrevery two
above two and not exceeding teR, one
vote for every four shares above ten and not
thirty, one vote for every six shares
above thirty md not exceeding sixty, one vote |
for every eight shares above sixty, and not ex-
eeeding one hundred, one vote, & for every ten
shares above that number, one vote. But no
person or persons. bodies corporate Or other
wise, shall be entitled TO more than fifty votes
No share Or shares shall confer a right of suf
frage, which shall not have been holden two ca
lender months previous to the day of election
And in the choice of directors, every stockhol-
der shall vote in person, Except those who shall
reside out of the town of A'exsndria) who may
vote either in person, or by a written ballot by
him or her subscribed with his or her name, and
duly acknowledged before a judge Of a court, a
justice of the peace, or a notary public ; a certr-
icate whereof shall be made on said ballot by the
said judge, justice of he peace, or notary pub
lie, before whom such owledgement shall
be made and said ballot shall be by him sealed
up, and addressed to the cashier of the Bank,
and being transmitted to said cashier before the
time of election of directors, said ballot shall be
received and counted in the choice OF directors.
And every stockholder may sell and transfer his
stock in tae said Bank or any part thereof, at
his pleasure, not being less than one complete
share or shares, the transfer being made in the
bank books, n the presence and with the appro
baton of the proprietor or his lawful attorney.
Sec. 4. And be it further enacted, That an cleo
ton shall he held III the town of Alexandria, on
the frs Monday OF Nov. in each. year, Of which.
notice shall be given in one or more newspapers,
printed in the town of Alexandria. four weeks AZ
least, before said day of election And the stock
holders shall choose, by ballot, 'rsm among n"
stockholders, by a majority of votes,tweiv d'rec-
tors, for the term of one year tn eater & n r..
neutrality-suspicious. "r re movl of any d &C.
tor u, of the county If Alexandria in the ,is,ric'
II -t-ls - -
the state OF Virgins, the other directors, az their
mex, meeting thereafter, shall elect by ballot a
mother person, qualified as aforesaid, in his place,
for the residue of the year. The directors shall.
at the first meeting after general election. elect
by a maj r. y ~ their whole number. by ballot.
from ming their own umher a President, who
shall be therempon entitled to all the m wcrs and
privileges of one and if he was before a dir C,
tor, mother director shall be elected as afoRe-
said, so as to keep the number of directors, PREF
scribed by this act, exclusive of the president,
entire and in case of the death, resignation or
removal of the presidents, out Of the county of A
lexandria, or county of Fairfax aforesaid, or his
refusal to accept his Office, the directors shall
meet as soon as conveniently can be thereafter,
and elect another person for president, in the
mannef before directed but the president & di
~rectors, at present elected by the stockholders.
shall continue to act, until their successors are
chosen Provided, That in case it should at any
t'V'C haPICbt ~'Sl ah vi
should not be made upon any day, when,
pursuant to this act, it ought to have
been made, the corporation shall not for
that cause be deemed to be dissolved, but ii shall
be lawful on any other day, within fifteen days
thereafter, to hold and make an election of direc
tors, in such manner, as shall have been reguls-
ted by the laws and ordinances ofsaid corpora
ton. Ind provided nevertheless, That this sec
ton may a, any time hereafter be altered or a.
mended by Congress, in such manner as they
may see fiji, So as to provide for an annual rota-
ton ofthe directors
Sec. S. And be it further enacted, That there
shall be a meeting Vt the directors quarterly, for
the purpose of examining the AFFAIRS of the bank.
any four of whom shall make a board and the
board shall have power to adjourn from time to
time and the President or any three of the Dir
rectors, may call a special meeting at any other
time that they may think proper.
Sec. 6 And be 1T further enacted, That the board
of directors, by a majority of votes, shall make
bye laws, determine the manner of doing bust
ness, and the rules and forms to be pursued &
dispose of the money & credit of the bank, for
the interest and benefit of the stockholders &
are hereby authorised to receive for discounts,
made at the said bank, at the rate and not excee-
ding six per cent. per annum, and make at the
expiration of each half year, a dividend of the
profit, or such part thereof as they may think
prudent
SEC. ?. And be it further enacted, That in
Appearing a CASHIER OF tn said bank, and all .
Their officers, q majority of the whole directors
shall be necessary to a choice.
SEC. 8. And be IL further enacted, That any
director, officer, or other person, holding any
share or capital Of the said bank stock, who
shall commit any fraud or embezzlement, touch
ing the money or property of said bank, shall
be liable to be prosecuted ia the name of the u.
States, by indictment for the same ; and upon
conviction thereof, shall besides the remedy that
may be had by action, in the name of the Presi-
dent and Directors of the Bank OF Potomac, fer
the fraud aforesaid, forfeit to the company all
his share and stock in the said bank.
SEC. 9. And be IL turtle, enacted, That the
SAID bank shall not at any time discount or loan
a greater sum than double the amount of the
capital stock, which shall be actually paid in.
SEC. 10. And be fUthsy enacted, That no
sto Kholder or member of said company, shall
be answerable for any losses, defc encies or fail
ure of the capital stock of the said bank, for a
ny more or larger sum or sums OF money what
soever, than the amount Il the stock, stocks or
shares, which shall appear by the books of sad
company to belong to him at the time or times
when such loss or losses shall be sustained, ex-
cept as is hereafter excepted, that IS to say -
If the total amount of the debts which said COM
pany shall a. any time owe, whether by bond,
bill or ether contract, shall exceed twice
the amount Of the capital stock Il of the said bInk,
over and above the monies actU lily deposited in
the bank for safe keeping, then, in case of such
excess, the dire ctors, under whose administra-
ton it shall happen, shall be liable for such ex-
cess in their natural and private capacities and
an action or actions of debt may be brought q
e ainst them or any of their heirs. execufore or