The enquirer. [volume] (Richmond, Va.) 1804-1815, 1814-02-26
GENERAL ASSEMBLY,.

y eighth.
I'm 0ct Tar extending the, Charter of the Bank of
l1staa, and for other purposes.
Pass ed January "a, I8I4.)
WHEREAS the stockholders of the Bank Of W.
GINA have attheir late general meeting authorised
the presentation ct memorial to the General As
sembiy, praying tor extension Of their char
ter, and augmentation of their capital stock and du
iy authorised corADtee of their body to agree With
the proper authorities OF the Comm ealth on the
terms and conditions which such extension OF
the said charter and augmentation of capital stock
shall take place and the said committee represent
ing the stockholders, to carry into effect the objects
OF the said memorial, has proposed for the accept
ance OF the General Assembly, the following their
terms and conditions Of mutual compact between
the said stockholders and the Common wealth, to
wit:
First, That the charter of the said Bank shall be
extended the term of fifteen years commencing the
first OF May eighteen hundred and eighteen, at
which time the original charter WOULD expire-its
capital stock augmented one million OF dollars ira
medateiy, to be divided into thousand shares of
one hundred dollars each, & be further augmented
two hundred and forty thousand dollars in two thou
sand four hundr ed shares eft hundred dollars in
the manner and for the benefit specified in the u, xt
stipulation following.
Second, Thst the cd stockholders, shall pay for
the benefit OF the state twenty dollars ON each share
OF their stock In sixteen semi-aHnual instruments of
one and quarter dollars each, commencing at the
first dividend after the first of May eighteen hun
dred and eighteen, TO be reserved out of the FIRST
and every sequent dividend after the hrst OF May
eighteen hundred and eighteen, until the twenty doll
lars en- each share shall be paid--and that at the
hrst dividend after the first OF May eighteen hun.
dred and eighteen the capital stock Of the said Bank
shall be augmented the sum of two hundred and for
ty thousand dollars, in two thousand four hsndred
shares of one hundred dollars each, to be for the
sole benefit of the state, it's assigns, which the
Ike dividend shall be payable to the state or it's
Signs, that the state any other stakeholder would
be entitled to on equal quantity of other stock of
the said Bank from and after the first dividend after
the first of May eighteen hundred and eighteen
Il fotlr dred of he
stock to be paid for by said twenty dollars payable
as aforesaid by the old stockholders each shareof
their stock.
Thirdly, That from and after the com roe ncement
OF the renewed charter, the Bank IF Virginia shall
have right under that charter 10 the deposit of
one meety only of the inactive surplus money in
the public Treasury.
Fourthy, That of the said augmented stock of
one million of dollars in ten thousand shares of
hundred dollars each, eight thousand shares shall be
disposed of, and two Thousand shares reserved for
the state The state shall have the privilege Of dis
posing OF or selling eight thousand shares sny time
before the thirty first Of March eiehtet n hundred
aad fourteen, but If the sale should not be efeete ed
in that time by the state the said stockholders by
their directors in Rjsb rend to have the privi-
IL sc OF disposin8 oRsad shares many as shall
remain unso'd by the state, the best terms that
can be obtained, for the benefit of the corporation
But the sales ofhis stock by the by the Stock
bolf ers are 10 be made such the
payment OF one hundred dollars each share int
the Bank en- or before the first day of May eighteen
hound to sell such part of the stock may deyeye
on them to sell, so as to ensure the ssid payment
of ore hundred dollars on each share on before
the first day of May eighteen hundred & fourteen,
if such sale can be Effected before that time par
And on the said eight thousand shares there shall
be paid twenty-five dollars each share, payable
IN twenty seIni-annusl instruments, which twenty
five centum shall be paid by semi annual reservsti-
ons OF ore dollar and quarter out of the semi-an-
nua dividends eaeh share comm en cling the first
dividend on the said eight thousand shares, and cen
timing until the said twenty-five per centum be
paid, which reservations shall be applied TO pay
the amount ct two hundred thousand doilsrs stock,
or two thousand shares reserved for the benefit Of
the state On this stock of ten thoassDd shares
no dividend shall be payable until TIE first Of snns-
ry eighteen hundred and fifteen.
Filthy, That the said bank shall have the prisi-
ege OF establishing any time hereafter all Office of
ciscotlnt an1 deposit at Lynchburg upon the ssrne
terms with those at Norfolk, Petersburg & Frede-
ricksburg.
Sixth'y, Ihst notes made negotiable s. payable at
the Bank OF Virginia, or any OF its Offices shall be
placed on the footing ol,oreign bills Of exchange.
seyenth'y, The Bank of Virginia oblises itself TO
loan TO the state whenever required sum or sums
of money not t9ceedng three hundred end 6ffy