Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1812-02-18
MECHANICS BANK
OF .aLEK.a.N'DRI.a.
70 all 10 vhom these Presents shah come.

Z, BE it known, that We the SUBSCRIBERS ahtVc
agreed, and we do hereby agree, TO establish
"a Bank In Alexandria, for the transaction OF
business, under the firm and title OF the
President, Directors and Company OF the
Mechanics Bank of Alexandria; and we here
<bvs covenant with each other to be bound oy
s the following Articles of agreement, and DE-
: clare that all persons who may hereafter have
any transaction with the said Company shall
be as fully concluded and bound by SAID Aftl-
cles, as if they rad been parties thereto.
AaTrcIE /. The business of the Company
shall be conducted under the hrn and ute oi
the presidsn,, Directors and Company OF the
Mechanics Bank OF Alexandria, TO continue
for the term of twenty -one years. unless SOON
er dissolved, which may at any time De ellece-
ed by the vote of the Stockholders holding
two thirds of the Capital Stock OF the Com'
many. convened for that purpose by an aover-
iisement in the Alexandria newspapers and
ono in tie City of Washington once every week
for four months prior to the meeting, and ex-
messing the object for which the meeting Is
called. The said meeting for the dissolution
of the Company Can only be called ny tNo
thirds or a greater majority OF the Dlfecf OTIS
or, by at least one hundred Stockholders hota-
inc not less ten thousand Shares OF Capi'al
Stock g
The Directors are authorised to apply Tor
and accept such Charter as shall be approved
Of iby at least twelve Directors; and should no
Charter be obtained after the period limited
9or the continuance of this association, MA
iority Of Two thirds of the Directors may con-
3 fia,le IFS duration for another period OF twen-
ty-one years, the Company being always ia
bic TO be dissolved in the manner above
stated.
s,sFrcbE. q. The Capital Stock ottheCom-
pa,g may consist of Five Hundred Thousand
Dollars, monev of the United States, to be
divided into Shares of Ten Dollars each, ana
70 be paid In the manner following, that is to
cav. One Dollar on each Snare at the tune OF
subscribing, and Que Dollar at the expiration
OF Sixty DAYS from that time, and Oae Doiiar
to be paid within thirty Days alter the second
pavment, and the balance to De called fof
when the Directors may think 1t proper OF
necessary So to do provided they DO not Cali
foI any paymert Is less than Tnlrty Days anu
r,ot-,,,orSs; than One Dullar on each Share at
al apy one tIne but it shall be optional with
a,v Stakeholder to pay tile whole or any adj
,Ifiopal part ofthe amount due thereon Witism
S;xtv DAYS after the declaration OF any Dt't-
dend. and he shall afterwards be entitled to
receive dividend in proportion to the amount
paid.s Oh faiinre to p,y up any OF TIE install
ms. is on tie Shares subscnoeG,tne president
ard Directors shall Cause tbs shares t" be adj
xerti,ed IN one OF more OF the Alexandra pa
:, rs aud one ii, the City OF, Washington once
: e. each week Tor ioSf sue CessiNe weeks, at
m. separation OF white time they shall be pub
IN AIrXSDOpI..
arc the amount arising the"efrom, attyr de-
ftsgisg all expences att:ched thereto' shall be
an4,liS1 to the use OF the original owner
ARTICLE s. TheSebscrlPtlon shell be open
ed a. the Courthouse lathe loHnoi Alexandra
ON "Wednesday the lth of March next, under
the direction of Fifteen Commissioners /; and
John Longden, AVm. Veitch, Jas, I. Oe@eele,
Da i. Mcleod, John Cohugea. Jas. Mcclure,
Adam Lynn, Mark Butts, .sepa Dean, James
Sanderson, John Young, Isaac Entwlsle 10
bert Young, Peter saunders, & JOAN Glfd, are
Amounted Commissioners ior that purpose; *
shall continue open or that and three success
,ive DAYS from | o O'clock A N. until 4o'ciock
p M unless sooner filed. On the first and
second DAYS, 10 person, company or body
cornorate shal be allowed to subscribe more
Than 800 shares, and should the SUBSCRIPTION
on the clese of the second day exceed tie IL
mited nuiabero f shares, the Commissioners
aforesaid shall deduct from the highest sno-
scyiptions so many shares as shall orlng them
within the limited quantity after the second
fav, the subscription may be unlimited iof
aayq,sytity of stock not pr eviousiy subscribed.
She Commissioners after deciding to whom
the shares shall belong will give receipts TO
tie different Stockholders for the money re-
Seieees Of them at the tine of subscribing,
wfich receipt will be good evidence OF the
number Of Shares 10 Which each Stakeholder
ARTrgr.G4 The business of the Company
IL. -. ,l,,,ctea By fourteen DIRECTORS and