Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1812-02-25
MECH NICS' BANK
OF .dLEX.a.N'DRIsa.
70 all 10 ssaom shese Presents shall come.


bus;ness. under the firm and title OF the
Precedent. Directors and Company OF the
Mechanics Bank of Alexandria; and we here
M covenant with each other to be bound by
tie following Articles of agreement, ana ae'
clare THAT all persons VINO may nere8.0. n'' ,,
NV transaction with the said Company shall
be as fully concluded and bound by sala ATT
cles, as II they had been parties theiSeo.
ARTIcLE i. The business OF TIC Go. .a,e &c
shall be conducted underline nrah anu avg Is : VI
the President, Directors and coaipaii! .. '"e
Mechanics Bank OF Alexandra, 20 cohsihus
Cor the term OF twenty7one Yrs, uniess SOON
er dissolved, which may tany Tune De enece-
ed by the vote of the Stockholders holding
two thirds Of the Capital Stock OF the Com
pany, conyened for that purpose by an aa'ei,
t;sement in tn e Alexandria newspapers ana
one in the Cityo Washing tenonce every week
for four months prior to the meeting' ana eH-
pressingsthe object for which the meeting Is
cansd The said meeting for the dissolution
of tbss Company, can only be called oy two
5 ,h;rds or. rreater majority of the Directors,
or hy at least one hundred Stockholders hold
mo not less ten thousand Shares OF oaPltai
Stock.
yrhe directors are authorised to apply for
and accept such Charter as shall be approved
of nv At least twelve Directors /; and should no
Charter be obtained after the period llmited
for the continuance of this associatlon, ma
iorit.4 two thirds the Directors may con-
finus its duration for another period OF TWEEN
ty-one years, the Company being always Ia
HE 70 be dissolved in the manner above
stated.
ARTIcLE 8. The Capital Stock OF the Com
nany nv consist of Five Hundred Thousand
Dollars. money of the United States, to be
divided into Shares of Ten Dollars each, and
70 be paitl in the manner following, that Is to
cav. Gae Dollar ON each Share at the time OF
subscribing, and One Dollar at the expiration
OF Sixty Days frpm that time, and One Dollar
to be paid within Thirty Days after the second
paynaent, and the balance to be called Tor
when the Directors may think 1t proper or
necessary SO to do, provided they do not Call
for any payment in less than IhIrty Days anu
not more than One Dollar ON each Share at
at any one time but it shall be optional with
any Stakeholder to pay the whole CT any ad-
ditional part of the amount due thereon WITHIN
Sixtv Dsys after the declaration OF any DlVi-
dsnd. and he shall afterwards be entitled "a
: receives dividend in proportion to the amount
paid. On failure to pay up any OF the install
ments ON the Shares subscribed, the President
and Directors shall cause the shares to be adj
; ver;ised in one or more Of the Alexandra pa
ners and one in the City of Washington once
x In each week for four successive weeks, at
the expiration of hich time they shall be pub
Gcly sold at the Colfee-fIouse In Alexandria
and the amount arising therelrom, after de-
fraying all expences attached thereto, shall be
applied to the use of the original owner.
ARTICLE g. The Subscription shall be open
nd ar the Courthouse In the Town OF Ale Xanorla
ON "Wednesday the llth of March next, under
the direction of Fifteen Commissioner and
John Lonpden, VIM. Veltch, JAS {. Deneale,
Danl Mcleod, John Cohagen, Jas. McGulre,
Adam Lynn, Mark Butts, joseph Dean, James
Saadcrson, John Young, Isaac Entwisle, Ro-
bert Young, Peter Saunders, * John Gird, are
appointed Commissioners for that purpose; &
shall continue open on that and three success
siye DAYS from 10 O'Clock A. Nj. untii4 o'clock
p. NJ. unless sooner filed. On the first and
second DAYS, no person, company or body
corporate shall be allowed to subscribe more
than 2,a0o shalys, and should the subscription
on the ciese of the second d,y exceed the IL
mited number Of shares, the Commissioners
aforesaid shall deduct from the highest sub
scrip,ions So many shares as shall bring them
within the limited quantity after the second
day, the subscription may be unlimited tor
anyqusntity of stock act previously subscribed
The Commissioners after deciding to whom
the shares shall belong viii give receipts to
the different Stockholders for the money re-
celved of them az the time of subscribing,
which roeeipt WI! BE good evidence of the
number OF SHARES to which each Stakeholder
Is entitled.
ARrIcLE :. Tae business of the Company
shuttle conducted pY fourteen Directors and .
Pre4iae.t-~EEgecn Directors shall be elected
B, the Stockholders, who shall choose Presl
dent from among tAeir own body, who in case