The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-09-06

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time to time think expedient aud 10 use. EN-
| ploy and dispose OF the capital stock, funds and
property OF the said bank, tor the interest and
benefit ofthe stockholders, subject only TO the
restrictions herein contained; but the said bank
snail not take tor discounting any bill or note,
more than at the rate of SIX per centum per
annun, upon the amount due by such bill or
note.
SEC. z. And be It further enacted, That all
promissory notes, bills of exchange, drafts,
checks and receipts, for he payment OF money
made on behalf of the said bank, signed by the
president, and countersigued or sttested by the
cashier, shall be obligatory upon the SAID body
corporate, and shall possess the like qualities as
20 ncgot,abiiity, and tue Go.ders taercof shall
nave tue like actions thereupon, as if such pro.
niSsory notes, bulls OF exchange, drafts, checks
or receipts, ave been made by Or on behalf OF q
natural person.
8 SEC. 8. did be Il. Ia-ther esccteG, That the
BOOKS, psPer. correspondence and funds of the
Dang, shah at all times be subject TO the imspec-
tion ottae directors. And the said president
anu directors shall once IN every year cause to
be lard before the Secretary OF the Treasury of
Tue j.. D. an sccoust truly stating the situation
OF the bank and its funds.
SEC 9. drdb IL further enacted, That the
SAID president, and directors shall have power
TO appoint q cashier, aud all other officers and
servants, for executing the business OF the said
pank, and TO establish the compensation to be
made to the president and all others officers
and servants ofthe said. bank respectively. Eut
no compensation shall be Given TO q director for
ms services, except by a vote of the stockhol-
ders IN general meeting.
SEC. 10. dnd6e "a [gyfh err enacted, That the
president and directors shall have power 10 call
a general meeting Of the stockholders, for pur
poses concerning the interests of the bank, CIV
ing at least six weeks notice in one or more of
the ne w3papers ct the ciiy of Washington, spe.
ciying IN such notice tie object or objects of
SUI meeting.
SEC. III. dnd BE- it further enacted, That tie
SHARES OF capital stock, at any time owned by a.
ny individual stocshoider shall ne transferable
only on the books of the bank according TO such
rules as may, c~opfornaoiy to law, be establish.
ed in that behalf by the president and directors ;
out all debts actually due, and payable to the
bank ldays OF grace for payment being past) by
q stOcSillider, requesting a transfer, must be sa-
tisiled before such transfer shall be made unless
the president and directors shall direct TO the
contrary.
SIC. 10. Zra be IL Jrrtser enacted, That the
dividends OF the profits OF the company, or so
much o, said profits AS shall be deemed expedi.
emf sno proper, shall be declared, half yearly, in
the first week IN May and November, in each
yesr the amount of said dividend shall from
LIME to time be determined by the president
anu directors, and shall in no case exceed the
amount OF the net profits actually acquired by
the company, so that the capital stock of the
said company SHALL never be impaired by diyi.
cends
SEC. IS. dnd be it further enacted, That the
sad nank snail not at any time discount or loan
y greater sum than double the amount of the
capital stock thereof, which shall be actually
paid in.
SIC L. And BE itfurther enacted, That if the
said directors shall at any time wilfully and
knowingly make or declare any dividend which
snail impair the said capital stock, all the di-
rectors present at The masking or declaring OF
SAID dividend and conserving thereto, shall be IL
aoie IN Their individual capacities to the compa-
ny for the amount or proportion of said capital
STOCK so divided by the SAID directors and each
director who shall De present at the making or
declaring such dividend, snail be deemed to
nave consented thereto, unless he shall immedi-
a'Siy enter, IN writing, his dissent On the min
utes OF the proceedings of the board, and give
notice thereof to the secretary OF the treasury OF
the u. 5.
SEC. Is. And be IL further enacted, That the
oank snail IN no case DC owners OF any ships or
vessels, or directly or indirectly be concerned
IN trade, or the importation or expectation, pur.
chase or sale OF any goods, wares or merchan-
dlze Whatever, except bills OF exchange, bulIi-
on, stock ofthe u S. or of Incorporated institute
olis, and such ships, vessels, goods, wares or
merchandize,as shall be truly pledged 10 them bv
way OF security for debts due, OWING or gro wing
due to the said bank, OF purchased by it to Sc.
cure SUCH QeDtS.
SEC. Is. And be it further enacted, That the
SAID bank Shall not purchase or hold any lands.
tenements or other real estates, oLler than
what may be necessary for the convenient trans
Saction OF ITS business, unless such lands, tene
ments and real estates shall have been BONA fde
mortgaged TO tue bank by way of securi.
ty, or conveyed TO it in satisfaction of debts
previously contracted in the course of dealings.
or purchased to secure debts contracted with
or due 10 the bank and in every instance in
which the bank may become the owners or clai.
mdnts OF lands, or real estates, the
president and directors are empowered to sell
or dispose OF the same, in such manner as they
may deem beneficial for the SAID bank.
SEC. II. AHd be 10 further enacted, That if any
vacancy shall at any time happen among the d-
%rectors by death, resignation or other wise, the
rest OF the directors for the time being, shall e..
lect a director to fill the vacancy.
SEC. 10. AHd be it further enacted, That if a.
ny Aumoer OF stockholders, VINO shall be pro-
pfietOrs vi not less than two thousand shares.
may Tor any purpose relative 10 the institution,
at any time apply 20 the president AID directors
to call & general meeting Of the stockholders.
ana IL by thsm refused, the said number o fstock-
hoidsrs, propretors OF not less than the number
OF shares aforesaid, shall have power to call a
general meeting OF the stockholders, giving at
least sixty days notice in one or more of the
pdOlic newspapers OF the city of Washington,
specifying IN such notice the object or objects of
sucn call.
SEC. 10. AHd be it further enacted, That the
total amount OF HE deots, which the said corpo-
ration shall al any time owe, whether by oond.