Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1812-02-25

rectors and the President shall be- compesene
- the transaction of any business relating %
the discounting of paper; in all other cases 81,
majority of Directors shall be srequfea, ~
zpres;dent and each of the Directors, belofe
he enters upon the duties OF his Office, shai
take the following oath or affirmation =
sssI - do solemnly swear Ger athrm)
that will 'i,npartiaIiy, faithfully, diligently
honestly execute the duties Of OF the
Mechanics Bank of Alexandra, coniormaoiy
to the association of.the same and the trust re-
posed in me, to the best Of my Skill ana laaSs-
ment."
And the Cashier, Teller, Bookeepers and
othea officers and servants OF this BANK, snail
also take similar oath or affirmation.
No Director Of any other Bank shall be
Director in this Bank nor shall any person De
Director in this Bank, who IS partner IN
trade with a Director Of any other Bank. II
the President or any Director, the Cashier or
any other officer of the said Bank shall be
concerned directly or indirectly in purchasing
any note or notes, bill or bills, at more than
lawful interest or discount, and information
thereof be given and supported to the salts
faction of majority OF the board OF directors,
his or their seats or Offices shall be vacated,
and the directors snail fill up such vacancy or
vacancies.
Every Director, at the time he is elected
must be Stakeholder, and whenhe ceases 10
be a Stockhoder, he shall cease to be a Direc-
tor, and the remaining Directors shall on that
as we'll as On every other occasion, wherein the
situation of Director becomes vacant, sup
plythe vacancy from among the Stockholders;
and after the first election, the Directors shall
continue in Office until the first Monday III Jan
uary, 1911 ), and from and after that period the
Directors shall be chosen by the Stockholders
for one year. No Stakeholder Shall be emil
tied 10 vote for Directors, alter the nrst cleo
ton, in consequence OF any stock then held by
him, unless the same shall have been transfer
red IN his name on the books Ct the Company
at least one month previous to such election.
Ali Stockholders shall vote at election by bal
lot in person, or by proxy, the form OF the
proxy 10 be such as Shall for the first election
be prescribed by the Commissioners, and tor
all subsequent elections by the President and
Directors. A general meeting of the Stock
holders shall take place on the Monday iol-
lowing the closing of the subscription, at such
place as the Commissioners stall, by pubic
advertisement, appoint, for the purpose OF
choosing Directors to serve until the hrst
Monday in January, 1918, aforesaid, and on
the last Monday Of December in every year
thereafter, at such place as the President and
Directors shall, by public advertisement in
the Alexandra newspapers at least fourteen
days previous to said election appoint, tor the
purpose of choosing Directors for the ensuing
year.
ARTICLE S. The Company shall commence
it's operations as soon after the payment OF the
Sd instalment as is convenient, provided that
twenty five thousand shares shall have been
subscribed, and for that purpose the President
and Directors are empowered to make choice
of a building suitable for the transaction Of
the affairs Of the Company.
ARTICLE 6. The President and Directors
shall have tuil power to appoint Cashier and
all other officers and servants ofthe company,
to determine the security to be given by said
officers and servants, to fix the salary OF the
President, Cashier, other officers & servants,
and to dcfray Ill other necessary expenses out
of the Joint funds of the Company.
ARTICLE 7. The President and Directors
are hereby empowered to make, revise, alter
and annul all such rules, orders, bye laws and
regulations, for the government Of the concerns
OF the company, and that of the officers and
servants, as they shall from time to time deem
expedient, rot Inconsistent with the laws of
the land, or of these articles of associations and
to use the credit, and employ the Joint stock,
funds or property of the said company as to
them may seem expedient subject TO tne re-
s,rictions hereinafter mentioned.
ARr1cLE 8. All Bills, Bonds, Notes and
Engagements of the Company shall be signed
by the President and attested BY the Cashier;
and no Instrument shall be binding Old the
so signed and attested
ARTICLE 9. The Books. Papers and Funds
Of the Company shall at all times be subject