The Alexandria herald. [volume] (Alexandria [Va.]) 1811-1826, 1813-12-08
BANK OF TIE. METROPOLIS
TO all 10 7shom tA-sr hre.ents .haN com
o. y. arg T,sss CONCERN.

claimed, that We, the subscribers, asso-
Glazing i1Nt,her, have formed a company
or limited partnership, and do mutually a.
gee With each other, and hereby bind oar
selves, to conduct III. auslueys Of the com
Pany, under the name and style of 4" hc
I're@idenl arc Directors Of fhe Bank offhe
MetrofoL5,' ana tonforrnabIy 20 the rules
and regulations hereinafter specified. And
we do covenant aud agree with each ether,
and declare Inat we ana all persons who at
any time hereafter may transact business
with SAID company, shall DC bound and
concluded by these our fundamental arti-
Clcs OF association.
ARTICLE 1.
The coparthersnp shall &c and continue
for the term OF t"en,y-onc years, from and
alter the opening OF the sub5cri ption, IN.
lass charter IS sooner obtained but the
piCP:ietors al two-thirds of the capital
stock OF the company may, by their con
curing volcs At a general meeting to be
called Tor that express purpose, dissolve
the same at ANY prior period ProUiGcG,
hat notice o! such meeting ard is object
Shall be published in one or more 1T the
Washington newspapers, once week, for
six months previous thereto: and if the
Jag altsr the election in the last yaar ol VIC
aforesaid term, two thirds Of that body con.
curing, sisil be Of opinion, that it will be
proper and eXpedier, to continue tho co.
premiership for fuWhor limited tcrm nos
exceeding NV ,n;y-O0e years, they shall.
nave power to decide on the same, anC
shall Immediately make known their Gcci
sion by publication in one or more Wash
ington newspapers, and the president and
directors arc hereby authorized AZ any Tim
20 apply Tor and accept such charter as may
be agreed upon WIKI the concurrence Vi
nine members OF that body.
ARTICLE II.
The capital stoLk of the company shall
consist Of one million of dollars, money
o; the Uniich States, 10 be divided mt"
shares of forty dollars each, and TO he paid
in the manner following, that is TO say
one dollar on each share 10 be paid at the
time Of subscribing; one dollar iii forty
five days; two dollars in ninety days; two
dollars in one hundred and eighty days (;
two dollars in two hundred and seventy
days /; two dollars IN three hundred and
sixiy-tirs days; three dollars III two years ;
tIrce dollars in three years; four dollars
in four years; four dollars IN five years {;
four dollars In SIX years; four collars III
seven years four dollars III eight Yeas /;
and four dollars in niue years, after the time
of opening the subscription. And it shall
be optional wi'b any stool holder al any time
to Eli up his share or shares, by the pay
mcHt Of The residue of the money due there
OF, and shall thcreupon be entitled to re-
ccivc dividends in future, in proportion to
the whole amount paid upon such share or
shares: Proridcd, that the dividend or di-
vidends on such sums so paid, shall not
commence until the first day Of the month
ncXi ensuing such payments. And a fail
ure to make puaCtuaIiy any oil the said first
mentioned six instruments on any share
shall incur forfeiture OF such share TO
the use OF the company, of all that shall
have been previously paid thereon; and
such share shall be sold BY the prGsldeut
aud directors for the benefit Of the comps-
ny, but there shall b no forfeiture after
the payment Of ten dollars on each share,
bu! such delinquent shall NOT he entitled to
any dividend ON his stock till all previous
inStaments arc paid up, and the said pre-
sident and directors may, at any time, at.
ter paymcp. If the first six mentioned in.
staln,ents. amounting To- ten dollars on EACH
share, rcstrlc: or ject the said optlonal
payments, and so suspend the payment o.
all or any Of the eight subs, uuert liz
staImsnts. as in their judgment may be
expedient; subject however to a contrary
determination by the Subscribers. if such
determination should be made at any meet
ing provided for by these articles OF asso-
station.