The enquirer. [volume] (Richmond, Va.) 1804-1815, 1814-03-02
GENERAL ASSEMBLY,.


and thirteen, and OF the Commonwealth, the thr-
4 " -ghth. ff 49,
IN act fer extending the Charter Of the Raak Of
pi'Ssaic, -ong FIR othes PROPOSES
Pas ed Jdnuu, VI Isii)
WHEREAS ,le stockholders of the Bank of Viz
gina hsve ut their late general meetirg authorised
the presentation of a memorial to the General As
se'nb!y, praying for an extension Of their eh r.
tr, and augmentation OF heir cauitsl stock. and du
~ authorised COMMITTEE OF their body to agree wi h
the proper authorities of the Comm onwesth on the
terms and conditions OH which such extension of
the said charter and augmentation Of cap =. stock
shall take plaee-snd the said committee resent.
ing the stockholders to carry into effect the objects
o. the said memorial, has proposed for the accept
snce OF the General Assembly, the following their
terms and conditions Of mutual compact between
the said stockholders and the Com mon wesltb, to
wit:
First, That the charter of the said Bank shat. he
extended the term of fifteen years commencing, the
first OF May eighteen hundred and eighteen, at
which time the original charter. would -xpire--its
capital stock augmented enc million of dollars ius-
mediatey, to be divided into ten thousand shares Of
one hundred dollars each, ~ be further augmented
two bnrred and forty thousand dollars in two thou
sand four hun ed shares OF hundred dollars in
the manner and tor the benefit specified in the next
stipulation following. 49,
Second, Ihat the old stockholders, shall pay fer
the benefit of the twenty dollars on each share
OF their stock in sixteen semi-snnuai nstatu of
one and quarter dollars each, commencing. 1T the
hrst dividend after the frs of May eighteen hun-
and every suyeqoent dividend after the 6rst of May
eighteen hundred and eighteen until the nty dol
lars on each share shsT be paid-and that at the
hrst dividend after the st OF Nav eighteen hun
dr. d and eighteen the capital stock of the said Bank
shatl be augmented the sum of two hundred and for
~ fhousand dollars in two thousand four hundred
shares ct one hundred dollars each, to be for tie
aole benefit of the state, it's assigns on which the
like dividend shall be payable to the state or it's as
signs, that the state any other stakeholder would
ne emitted TO on an equal quantity of other stock o.
the said Bank from ami after the first dividend after
the first of May eighteen hundred and eighteen
he said two thousand four hundred shares of the
stock to be raid for by said twenty dollars payable
as aforesaid by the old stockholders on each share of
their stock.
Thirdly, Thetf from and after the commencement
OF the renewed charter, the Bank of Virginia shall
have right under that charter to the deposit of
one meiey only ofthe inactive surplus money in
tie public Treasury. ..r ,.,k
Fourthy, That OF the said augmented stock Of
one million of dollars in ten thousand shares OF one
hundred dollars each, eight thousand shares shall be
disposed of, and two thousaad shares reserved for
the state The state shall have the privilege of dis
posing oil or selling eight thousand shares any time
before the thirty first of March. eighteen hundred
and fourteen, but if the sale shord not be efec, ed
IN that time by the state the said stockholders by
their directors in Richmend to have thc priv
ge OF disposing of said shares many az shall
remain unso'd by the state che best terms athat
can be obtained, the benefit of the corporation.
but the sales oiths stock by the by the stock
payment of one hundred dollars on each share int
the bank or before the first day of May eighteen
hundred and fourteen. and the stockholders are
bound to sell such part OF the stock may devoive
] on them to sell, so as 10 the said payment
ct enc hundred dollars on each share on or before
the first day OF May eighteen hundred & fourteen
II such sale can be effected before that time ON par
hns on the SAID eight thousand shares there shall
oe paid twenty-five dollars on each share, payable
IN twenty semi-annual instalrnents, which twenty.
hve centun shall be paid by semi annsa reservati-
ons oil one dollar and quarter of the seni-ap-
nnal dividends each share eontne cling the fl, st
dividend on the said eight thousand shares, and
cnung until the said twenty-five per centum be
psid, "hirh reservations shall be applied to pay
The amount OF two hundred thousand dollars stock,
or two thousand shares reserved for the benefit O.
the state On this stock of ten thousand shsres
no dividend sa' be payable until the first of Janna
ry eighteen hundred and fifteen.
fhthy, That the said bank shall hsve the privi-
ese OF establishing at any time hereafter Office OF
discount and deposit at Lynchburg upon the same
ricksburg
Sixth'y, That notes made negotiable & payable at
the Bank OF yirginiaor any OF its Offices, shan be
placed on the footing of foreign bills of exchange.
Seventh'y, The Bank OF Virginia obges itself to
loan to the state whenever required a sum or sums
OF money not exceeding three hundred aud fifty
thousand dollars on state stock be transferable
IN the manner to be prescribed by law, and TO be
issued under the authority of the state to bear an
interest OF seven per cent payable quarter yearly,
wv St"tS W DC uiihSr OUiIRatIOn to redeem, the
said stock before the first o! January eighteen hun
dred and twenty nine, bat to have the privilege OF
redesuoing II from time to time in whole or in part
at IT'S pleasure on IT'S giving three mosths previous
notice thereof in some newspaper printed the city
OF Richmond And whereas this General Assembly
are OF opinion that the acceptance of the foregoing
propositions will be sdyangeous Is The Common
eaits.
BE il therefore enacted BY the General .4sse7ndy.
That the sap propositions the part of the stock
holders, be accepted by the Commonw eaIth, * the
compact which the before recited terms and condi
tons import, be and the same is hereby ratified and
confirmed; and to give the same complete effect 90
the part of the Commonwealth:
BE IL further enacted, That the charter OF the
said Bank OF Virgins shall be- and the same is here
by extended from the period of Us continuance tx
ed by the original charter, for the term of fifteen
years thence next following, during which period all
the rights, privileges and immunities shall be pos
sessed and enjoyed by the corporation of the Bank
OF Virginia and its respective members as If the ex-
piration OF the said charter had by tie provisions
oil the original charter, been deferred to the period
to which 1t IS by this clause extended except 30 fer
az the said rights, privileges aud in. munt;es may
De restrainsd huited, or modified, by the terms and
conditions of the said reeited compact
IND be Hfufher, enacted, That any time hereaf-
ter during tlls continuance Of their said charter
the stockholders Of the said Bank nay az cay gene
rsi meeting, direct the estabIshmept Of en- ofee of
discount and deposit az ciie I9wn OF Lynehburg
and at one other place they msy select on the cost
oine OIL the AHeEhany mountain, TO be organized in
all speos on principles similar 10 those which APP
pertain to DE Offices OF discount AMI deposit already
established And all Notes or Bills ne gotiab!e or
negotiated, AZ the said Bank or any Of its Offices
shall be, and the is hereby placed on the same
Fnf,ftr lnr m.