Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1813-12-11
ARTICLE Nv.

der the direction of the following thlr.
teen commissioners, or a majority OF
them, viz. John r. Van Ness, Thomas
Munroe, Walter Jones, jr. Andrew
Way, ir. James HI. Blake, Samuel n.
Smaliwood, Thomas H. GlIiIss, Moses
Young, James Davidson, William Brent,
John Graham, Joseph Gales, jr. William
frout. And the commissioners atore-
said shall open the subscription books
st ten o'clock A. NJ. and they shall CONT
hue open until four P. NJ. and shall re-
main open between those boars for one
day at least, and for the term of three
days unisss sooner filed and fit should
happen that more than the stipulated
number Of shares should be subscribed
on the frat day, then the commissioners
aforesaid sre to apportion thorn among
the subscribers, by deducting from the
highest subscriptions, until they are re.
dueed to thu proper number, or II moro
persons sub,cribe than there are shares,
the commissioners are to cast lots to de-
eide to whom they shall ociong. But
no person or\persons, bodies corporate
or ctherw ise, shall be perHltted to sub
scribe on e,hrst day Of openlng the
books, for mo'e than one Thousand two
hundred and fifty shares; and it the
stock be not ailitakeu the first day, the
books shall remain open on the second
day, on the Same terms as on the FIRST
| out if The subscription be not, filled on
the second day, then the commissioners
may permit any person or persons, bo-
dies corporate or otherwise, to subscribe
! for any number OF shares until the whole
number is complete.
i The commissioners, after having de-
cided to whom the shares may belong,
will Issue receipts 70 the diffe fent stoce-
holders, for the monies received OF them
a, lie time OF Subscribing, which re-
ceipts withthe origlnI subscription shall
be dcemed COOS evidence of the qnanti-
/: ~ Of stock to w,id. each subscriber
snail be entitled in ibis company.
| ARTICLE v.
The affairs of the company shall be
conducted by thirteen directors, Of whom
| nine at least shall be residents in the ci-
y of Washington, the president to be
CHOSEN from among their number. Four
!! directors and the president shall be cem-
petcnt TO the renewa! Of paper previous.
Nv discounted, and in all other cases q
| majority Of directors shall be required
In case of the sickness or necessary 40.
Aeuce OF tne pre- ident, his Place may be
supplied By any director, whom be, BY
writing under his hand, may nominate
for that purpose, or in case Of his not
| making such termination, the beard may
appoint president to act during his ab'
scpcc; and the directors who may be
| appointed a, the first election, shall hold
| their seats until the first Moeday in A.
prll, one thousand eight hundred end
ffteen. And the directors from and al.
ter that period shah be elected for one
year, by the stockholders for the time
being, and each director shall bea stock.
holder at the time of his election, and
i shall cease to be director, if he should
cease to be stakeholder; and 20 di.
| rector of aug other bank shall at tho same
/: time be director of this bank. Every
!, share shall entitle its proprietor to q
/: vote, but no stakeholder shall be per.
!; mitted to vote Except at the first cleo.
! tion) who has not held his stock for thir.
ty DAYS prior to the election and all
] stockholders shall vote at elections by
! ballot, in person or by proxy, which
proxy, in all elections after the first,
shall be made in such form as the presi-
dent and directors shall prescribe, but
no officer of the bank receiving salary
shall be permitted to vote as a proxy for
any slockholder.
ARTICLE II.
An election by the stockholders of the
company shall be holden on the first
Monday in April in every year (exoept
the next ApriD at such place as the pre-.
sident and directors shall appoint, by
giving four weeks notice in one or more
OF the newspapers of the city of Wash
ington, for the purpose Of eleetins di-
rectors Tor the ensuing year, who shall!
take their seats at the board the succeed
ing day, and Immediately proceed to
jeet the president but for the present
wear, for the more immediate organiza-
ton of the business of the company, the
election shall be holden on the second
Monday in January newt. under the dl.
rec,ion Of the commissioners appointed
to receive subscriptions, ard the duties
of the said commissioners shali there-
upon cease and determine, and they sfsll
so soon as the said board of irectors are
organised, pay over to them all the mo-
MES which may have, been received tor
the subscription of stock, and shall also
deliver over to them all the books aud
papers belonging to the institution. And
the president and directors for the time
being shall continue to hold their Offices
until others shall be appointed in their
( places. No privilege shall be extended
\ ~ loanine tn director on account OF