Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1813-10-26

months previous 10 tho eIectiou, aho II
shalt be the duty Of the Cashier to maxi
out list of the stockholders thirty days
previous to an election, for their inspec
ton, and in choice of Directors every
stockholder shall vote in person, or BY
written ballot BY him or her subscribed
with hi. or her name, and duly acknow-
lodged before Judge OF court, a
Justice of peace, or notary public,
certificate whereof shall be made on said
ballot by the said Judge, justice OF peace,
or notary public, before whom such &C.
acknowledgement shall be made, and said
ballot shall be by him sealed up, and IN
his hand writing, addressed to che Cash
Ter of the Bank, and being transmitted
TO said Cashier before the time OF clos
ing the election, the same shall be re-
ccived by the said Cashier, and deliver
ed unopened to the Commissioners aP-
pointed by rhe President and Directors
for conducting the election, and shall be
counted in the choice Of Directors
And every stoekholder may sell and
transfer his stock in the said Bank, or
any part thereof, at his pleasure, not be.
ing less than one complete share or
shares, ths transfer being made in the
Bank Books in the presence and With
the appreciation of the proprietor or his
lawful attorney:
Article 5tb. No stakeholder or men,
Der of said Association shall be answer
able for any losses. deficiencies, or iai-
lure Of the capital stock OF the sand
Bank, for any more or larger sum or
sums Of money whatsoever, than the a.
mount of stock or shares, which shall
appear by the books of said Association
to belong to him or her, at the time or
times when sucn loss or losses shall be
sustained, except as is herein after pro-
vided that is to say, if the total amount
of debts which said company shall at any
time owe, whether by bond, note, bill,
or other contract, shall exceed twice the
amount of the capital stock OF said Bank,
over and above the monies actually de.
posted in the Bank for safe keeping,
then in case of such excess, the Direct
ors under whose administration 1t shall
happen, shall be liable for such excess
| in their natural and private canaclties,
| and an action or actions OF debt may
be broux hit against them or any OF them,
their heirs, executors or administrators,
| in any court of record within the United
States, by any creditor or creditors OF
said association, and may be prosecuted
| to Judgment and execution; any condi-
| ton, covenant or agreement to the con-
trary notwithstanding. but this shall not
be construed to exempt the said body
polite. or lands, tenements, goods or
chat,les of the same FROM being also IL
able for, and chargeable with said excess
! provided that such of the said Di-
rectors, who may have been absent
when said excess was contracted nr
created, or who may have d,sse"ted
from the resolution or act whereby
the same was SO contracted or crca-
ted, may respectively cxonerate them
selves, from being Sc hsble by forth.
with giving notice Of tie fact, ard
of their absence or dissent tc the stock
holders at a general meeting which lie
| or thew shall have power 60 Gail Tor tina!
purpose, and in Case the directors oy
! whose act such excess shall be OCCASION
! ed, shall not have property to pay the
| mount of such excess then each and eve-
nv stockholder shall be liable I'D thelt
private capacities, for their deficiencies
| in proportion to their respective shares
in the said Bank.
| ARTICLE 9th. The Board Of Direc-
tors of said Bank by majority of votes
shall MAKE bye laws, determine the man.
ner of doing business, and the rules and
forms to be pursued, and dispose of the
money and credit of the bank, in such
manner as shalt seem to them best CAL
culsted to promote the interest of the
stockholders.
| Article 7th. A majority Of the whole
number of Directors shall be necessary
in the choice of President, Cashier. &
other officers ofthe Bank but four mem
bers with the President, may constitute
a board for transacting the ordinary bu.
siness of the Bank.
Article 9Th. The President and Di-
rectors for the time being shall have
power to appoint such officers and SER
wants under them, as may BE- necessary
for executing the business of the said
company, and to allow them such com.
pensation for their services respt civ
" as shall seem reasonable, and shall
be capable of exercising such other
| powers aud authorities for the well 60
verning and ordering of the affrs OF
the said company, as shall i've describe,
fixed and determined by the laws. regu.
lat;ons and ordinances OF the same
| Article eth. The second election of
Directors shall take place on the first