Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-05-03

number OF ShareS Icepoo.iYoiJ} ouO 'oIl
and shall continue to exhibit in the same
Wv al the Stock transfers which may
subsequently, take place.
That full entries Of all proceedings and
transactions Of the president and direc-
torA shall be made in other books :-that
the president and directors shall cause
full and fair statement of the AIRS Of
the company to be made on the first day
of MAY and November in each year, and
the same shall appear on the ledger Of the
comnany at. those periods respectively ;
at which periods they shall declare a
dividend of so much of their profits as
they may Judge advisable, rot exceeding
two-thirsls thereof, the remaining third,
being intended to be added to the profits
of the succeeding half year, until the Pc
ROD of dividend, when two-thirds ofboth
amounts may again be divided) which
shall be advertised in the newspapers OF
Alexandra and paid within ten days
thereafter. But no premiums outstand-
ing and undetermined shall be considered
Iii SUCH stdLclllSHlS.
.frticle is.
IF the said directors shall at any time
wilfully and knowingly make or declare
any dividend which SHALL impair the CAPT
tai stock, or the one-third profits direct
ed to be retained in the preceding article,
all the directors present at the making or
declarinc OF Sid dividend and consent
Ing thereto, shall be liable in their indivi-
dual capacities, to the company, for the
amount or proportion of the said capital
stock and one-third profits so divided by
said directors; and each director who
shall be present at the making or decla-
ring such dividend shall be deemed tohave
consented thereto, unless he shallimmedi-
ately enter in writing his dissent on the
minutes of the proceedings of the board
and give public notice to the Stockholders
that such dividend has been declared.
And in caseene Capital Stock shall be
impaired by loss or losses, no subsequent
dividend shall be made, until after sum
equivalent to such dim;nution arising
from the profits shall have been thereun-
to added.
.fYticle IA.
tt shall be the duty Of the board of d.
rectars and they are hereby empowered
and directed, at certain fixed periods to
be By them appointed to examine the Sc
curiiies granted by the subscribers, their
executors, administrators Or assigns, for
the phnctual payment Of the notes paya-
bic on demand for the forty dollars per
snare, expressed in the second article,
and to renew the whole or particular Sc
curities If they deem it necessary, and
to encrease the security where it may be
manifastly Insufficient. And if it shall
at any time happen between these periods
that tie security granted for such notes,
by any subscriber, his executor. admins
traitor or assigns, shall be maHifestiy I'M
paired and Inadequate, il shall be tie du-
II of the saia board to require of such
subscriber, his executor, administration
or assigns, -sucI, additional or other secu-
ritz as may DC deemed sufficient for the
uarso8e. And If any Subscriber, his ex-
ecuior, administrator or assigns, shall,
under such circumstances and after rea-
sonable notice. refuse or neglect TO give
such additional or sufficient security, tie
said PRESIDENT and directors may cause
TIE stock thus situate, to be advertised
and sold to the highest bidder, the pur-
chaser to make good the security re-
CARED, and The proceeds of sale shall be
paid to the defaulting subscriber, his ex-
ecator, administrator or assigns.
article Is.
These articles Of agreement shall be
published in both tie Alexandria papers,
and in one at Washington and Winches-
tel, once a week for The space of one
month; and for the further information
of ali persons who may transact business
with or in any manner give credit to said
company, every policy, bond, bill or note,
OR other instrument Or contract of this
company by the effect or terms of which
this company may be charged or held IL
able for the payment of money, shalls pe-
cia!ly declare in such form as the presi-
dent and directors shall prescribe, that
the payment shall be made out of the joint
funds of the Columbian Insurance Com
pany according to the present articles of
association and not otherwise. A copy
of the 10th article of this association shall
be inserted OH the back Of all policies,
and by reference ia the policy made a
part of the contract, and I'll bonds, bills,
notes or other instruments or contracts OF
this company shall have a special refe-