Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-11-11


which lle said real estate I'm en- n
cold 81 silver 1t their legal value.
Art s. And Tor ths well governing
tie afFairs Of the said company Tiers
| shall be eighteen directors IL q whom
sha Il be ressdentS 81 the state OF Virginia
land eighteen Standing commissioner
detected within i've DAYS after the stock
lis subscribed, any Eve Of whom respec-
lively may form a board to do business;
aud an election shall be held for a like
humber Of directors aud commissioners
lon the FIRST Monday In February ineach
lYear thereafter, by The stockholders q
said institution, and BY plurality Aot
lyotes actually given in, and those who
shall be duly chosen at such election, shall
he capable Of serving as directors and
commissioners by virtue of such choice
Until the end or expiration Of the firsi
lMonday in February next ensuing the
time Of such. election y until others shall
he chosen. aud the said directors at thels
first meeting, after each election shall
lchuse president from among tlleirown
body. In case it should at any time
SO happen that an election OF directors
and commissioners should not take place,
attbe time directed by these articles Of
association. it Il be the duty of the
president and directors for the time
being to order an election as soon there
after as circumstances will permit.
4 Art. 4. The board Of directors by a
majority of votes shall have power t.
make all necessary bye laws, determine
lthe manner, Of doing business and the
rules and forms 10 be pursued, dispose
:of the money and credit of the bank, IN
such manner as may seem to them best
calcuIate.i to promote the interest Of
1.-THE stockhoIders--a majority Of the whole
number OF directors shall be necessary
ia the choice of president. cashier, and
the ether officers Of the bank, sandto de-
tern1inc on a suitable compensation tor
their services.
! Art. S. Every stakeholder being cl-
fizen of the United States, shall be en-
titled to a vote at elections, for direc-
tors aud commissioners, either in person
orby a written ballot by him or her SUBJ
scribed. withhis or her aane, and duly
acknowledged before a justice Of the
peace, a certificate whereof made in the
same and said ballot, shall be by him
sealed up, and in his hand writing, ed
dressed to tile cashier of the bank, who
shall deliverths same to the commits
sioners any time before the election is
closed, and shalt be counted in the
choice of directors and commissioners.
The number ofvotes to which each stock
holder shall be entitled, shall be ac-
cordiug to the number of shares he shall
hold, inNthe proportion following. that
is to say :---Eer one share and not more
than two shares, one vote t each share,
and every two shares above two andnoi
Exceeding ten, one vote, for every four
shares above ten and rot exceeding thlr-
ty, one vote. for every SIX. shares above
thirty and not exceeding sixty, one vote,
for every eight shares above sixty and
not exceeding one hundred, one yote. and
for every ten shares above one hundred;
one vote but no person cn-raItnershiFI
or body polite shall be entitled in hIs or
their own right, " as proxy, to great
err number than thirty votes, and alter
the 6rst election no share or shares
shall confer right of suffrage which
shah not have been holden two calender
months previous tothe day Of eiec;--
ton. Every Stockholders may sell
and transfer his stock in the said bank
at his pleasure. not being less than one
full share, TIE transfer being made in
the bank books, in the presence and with
the appreciation. Of the proprietor, OF his
Lawful attorney na such share shall
confer a right Of suffrage, which shall not
have been transferred regularly on the
hooks Of the association sixty days pre-
vious to the election and it shall be the
duty Of the cashier to make out list OF
the stockholders With the amount OF stock
by each Of them held, at least thirty days
previous to any elections tOrtthe lnspec-
ton Of the Stockholders.
Art. 9Th. None but a citizen OF the
United States, and stakeholder, shall
be eligible as president, director, Of
commissioner, and the president. and di,
lrectors, for the time being, shall give four
weeks nubl;c notice. In the newspapers
tof Alexandria, of the time and place OF
holding the elections Of directors and