Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1812-02-27


Tenth-Thc said corporation shall
not be At liberty 20 purchase any pub
lie stock whatever, except their own
bank stock: provided. the number Of
shares they purchase in shall be sold
out at par or above il. as the ease may
DC, whenever opportunity offers to dc
so with convenience.
And provided, the number Of shares
so purchased, shall not exceed, at any
time fifteen hundred shares; nor shall
this corporation directly or indirectly,
deal in, or trade in any thing except
bills Ofexchange, gold, or silver built
on. or in the sale OF goods, really and
truly pledged for money lent, and not
redeemed in due time, or in goods which
shall be Che produce of its lands; mel
Their shall the said corporation take
more than at the rate of half per cen
tum for thirty days, for, oron account
cf its loans or discounts.
Eleventh--No lean shall be made by
the said corporation to any government,
or state, 10 any amount whatsoever, un-
less previously Authorised by law OF
this state.
Tweii,h-f'hc stock OF The said cor
poration shall be assignablc and trans
ferable according TO such rifles and re-
gulatiOns as shall be prescribed by the
laws and ordinances of the same.
IhirteentIl-1heb bills obligatory and
OF credit, under the seal Of The said cor
pOration, which shall be made to any
person or persons, shall be assisnablc
by endorsement tiiereupon, under the
hand or hands Of such person or per-
sons, and OF his, her or their assignee
or assignees, so as absolutely 10 trans
fer and vest the property in each and
every assignee or assignees success
siyeIy and TO enable such assignee or
assignees, to bring and maintain an ac-
ton thereupon, in his, her or their
name or names. And bills or notes
which may be issued by order of the
said corporation, signed by the Presi-
dent. and counter-signcd by the prin-
cipal Cashier or Treasurer, thereof.
promising the payment OF money TO a.
ny person Or persons, his, her Or their
order, or to the bearer, though not
under the seal of the said corporation,
shall be binding and obligatory, upon
the same in like manner, and with
the like force and effect as upon any
private person or persons, if issued by
him or them. in his, her or their pri-
vate OF natural capacity or capacities I;
and shall he assignable and negotiable
in like manner as il they were SO issu-
cd by snch private person or persons /:
that is TO say, those which shall be pay
able 10 any person Or persons, his. hei.
or their order. shall be assisnab!e by
endorsement in the like manner and
with the like effect as foreign bills OF
exchange now are and those which
are payable to the bearer, shall be ne
gotiable and assignablc by delivery on
ly; and all notes or bills negotiable az
the said Bank, or any Of its Offices vi
discount and deposit, shall be, and they
arc hereby placed on the same footing
as foreign bills ofexchange; SO that the
like remedy may be had for the recoye-
ny thereof, against the drawer or draw
ers, endOrser or eRdorsers, and with the
like effect, except 30 far as relates 10
damages any law, custom or usage.
to the contrary notwithstanding.
Fourteenth--lIaif yearly dividends
shall be made OF so much Of the profits
OF The Bank. as shall appear to Tie d.
rectors advisable; and once in every
year, at meeting TO be held for the
choice of directors, those Of the brcce-
ding year shall lay before the Stock
holders, for their information, an ex-
act and particular statement Of the ee-
neral accounts and state Of The coPDo-
ration Of the dents which shall have
remained unpaid after the expiration Of
the term OF credit, for period treble
the term of that credit and of the sur
plus OF profit, if any, after dedueting
losses and dividends.
Fiftecntli-The Legislature shall he
furnished annually, il they require IL,
with statements Of the amount of the
capital stock Of the said corporation,
and OF the debts due TO the same. Of
Che monies deposited therein, OF the
notes in circulation, and Of the cash on
hand and shall have a right 10 in
spect such general accounts in the
books Of the Bank, as shall relate to
fhe said statement: Provided. chat
this shall not be construed TO impIy a
right Of inspecting the account of any
private individual, or individuals, or A.
ny body polite or corporate with the
Hank