Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1814-03-02

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blowing, during which, peritl ali the rights,
risheges, and immuni,ies shall be poss, ssed
md enjoyed by the corpo, alton of the Bank
It Virginia and it's respective members as if |
he expiration of the SAID Charter had by
he provisions of The original Charter been
deferred to The period TO which II rs by this |
Clause extended, except Sc far as the said
rights. privileges and immnn,t,es may be re-
limited, or modified, BY the ter
and conditions Of the said reci,ed compact
sdnd be IL further enacted, that any time
hereafter during the continuance of their said
charter. the stockholders of the said Bank
may atany general meeting direct the esta,
blish'nent oil an office of discount and depo
SIT at the Town of Lynchburg, and at one
other place they may select ON the east side
ct the Allegheny mouAtain. to be organized
in all respects on principles miar to those
which appertain to the Offices OF discount and
deposit already established. And all Notes
or Bills negotiable or negotiated, at the said
Bank or any of its Offices, shall be, aud tn,
same are hereby placed on the same footing
a. foreign Bills of exchange, so that the like
remedy may be had for the recovery there
OF against the maker or makers, drawer OF
drawers, acceptor or acceptors and entlorser
or endorsers. Jointly or seserally, or other.
wise, and with like effect a tn the principal
debt, interest and costs or charges of protest
and every thing else as Ivy law is given ON
freign bills OF exchange. except 50 tar as
relates TO damages which shall not be reco.
verabie; any law. custom or usage TO the
contrary Notwithstanding.
dnd be IL turtle, enasfed, That the capital
stock ot the said bank shall be augmented by
the addition of one milton of dollars. to be d.
vided into ten thousand share o, one hun,ireu
dollars each, eight III us.nd oi which Aaii be
disposed cfn the manner specified in the fourth
article OF the before recitel COMPACT. ana
The remaining two thousand shares shsli b Tor
the sole heneht OF the commonwealth, to he
paid for IN the manner therein specified Ana
To make the privilege reserved to the c. mmon.
wealth by the SAID iouth article available 10 the
comnonwe It'll,
&c IL further enacted, That the treasurer and
the auditor oil pubiic accounts be, and shev are
herebyc Instituted agents .or the commonwealth
with fuii power TO dispose oil and sell, in the
manner that to them shall seem most b, nefciai
10 the commonwealth, the SAID eight thousand
snares OF the new stock proposed to be immedi-
ately added TO- the capital of the Bank OF Virgo.
MA; and the said agents are hereby authorised
and required to advertise forthwith, after the
passage OF this act, IN newspapers printed i'm the
.sity oil Richmond, and such others as the time
limited tor disposition or sale of the said stock
Will allow, that the sale or other disposition oi
the said stock will commence under their ti..
recuon, IN he city OF Richmonu, at such place
and on such day or day 5, previous To the thirty.
mrs, DAY OF March, eighteen hundred and four
teen, as to them may seem most expecIent.-
Anu the said agents are hereby required So 10
conduct the sale or other disposition, as 20 pre-
vent rs tar as practic sbie Ia, monopol, OF he
whole or any large portion OF the said stock, by
any individua, association, company On corpo
ration. II by the terms of sale.or other tiispos,
ton OF the SAID stock, credit shaii given for
the purchase of the wh6e or any part o. the
ock sold or otherwise disposed of which Gre
dit the said agents, in the Ii discretion ere All.
thorised TO give, provided sucn CT dit shall no.
extend beyond the tbirti III day OF April. eieh.
teen hundred and iohrteenJ and II there be d..
fauit IN the payment BY asy purchaser OF the
said stock, ofthe whole or ariyspart of the pur
chase on the day on which payment in whole
or IN part should by the terms o, sale, or other
disposition OF the stock he made, the right oil
the purchaser or purchasers therein, and all
payments made before sucn default Snail be.
utterly forfeited, and it shall be lawful Tor tho,
president and directors OF the SAID bank an
richmond, to expose the stock thus forfeited 10
immediate sale, Tor ready money, aud from the
proceeds OF sale to pay INTO the bank the monies
due on such stock, and The residue, aftey dc
raging all expenses, to pay TO the original
proprietor whose right may have been, by the
foregoing clause forfeited and il The forfeited
STOCK, on such sale, should not produce tie
amount duethereon, thtnit shall be wiul for
the president, directors and company OF the
said bank, to recover any deficit, by motion in |
any court OF record within this commonwealth.
on giving to Tie party Changed ten Il ays previ-
Gus notice. No sal, other disposition of the
SAID stock, or any part thereof, shall be made
by The said agents for less than one hundred
oohars per share When payments Tor the pur-
chase OF the new stock shall be tuiiy made. Ger
tihcates OF stock shall be issued by the SAID
Corporation TO those who may have purchased
and made such full payment or shall be other.
WISE entitled; and the new stock shall be trans
ferabie and assgnabie as the other stock. and
shall confer on the holder thereof. such rights.
privileges and immunites as stockholders an<,
as members o. the corporation of the Bank of
virginia, rs belong to the holders of the old
STOCK, except SO far as the terms and condi; ions
OF inc before recited COMPACT may affect them.
She dividends on the sari 5000 shares shaiI ne
liaoie TO the reservations mentioned in the fourth
article Oh the said compact to pay for the two
thousand shares OF thV new Stock by that ar
ticie re servs d to the commonwealth, i'm virtue
OF which shares, the liks rights, privileges aud
immuHlties snail belong to the commot,we al,h
as aPPertan to the shares reserved to the COM
honweaith by the original charter. Aud he
- % 80 '''eii "s ehtilitu 10 one and. a hail
per centum on the surplus above one hundred
dollars Tor each scare, that the said stock may
sell for. nay
Ana De further enacted, That should The
who're or any part OF the stock be not sold or
disposed OF by the agents OF tile commonwealth
as mentioned in the twelfth section o,ytbis act
by winch event the sale or disposition will de
vp've ON the said corporation, for the b. ne6t
o. the SAID corporation, then the purcha,
ser or purchasers from the said corporation
snail be liable to the like forhitures for detsuI,
OF any payment or payments, and the corpora
ton entitled to the ike remedies as are provi