Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-05-20
The Merchants Bank of
Alexandria.

q - we tue subscribers have formed
csnpany of limited partnership, and 40
hereby associate,and agree with each O.
ther To conduct the business IN the man
qger hereinafter described and speeihed
nv and underthe name and style OF The |
MERCHANTS bank of Alexandria, ana we 1
DO hereby mutually covenant anu agree
+Lat the following rules and restrictions
shall be the fundamental articles OF this
our association and agreement With each
o4her. by which we aud all persons who
at any tine hereafter may transact bust.
ness With the said Company shall be bound
and concluded.
article /.
The Capital Stock Of said Company
may consist of One Million of Dollars.
divided into shares of One Hundred Dol
Jars each. to be paid as fol!ows-'I'en del
lars on each shareat the time OF subscrib-
inc. The President and Directors may
cali for ten dollars mere upon each share.
in sixty DAYS after, giving thirty days
Nnotice thereof, and the remainder at such
Hines and insuch sums as the President
Gnd Directors may order; provided that
thew do not call for any payment in less
time thar thirty DAYS from the date of
nublic notice thereof in the Alexandria
Newspapers, nor for more than FIVE dol
) lars on each share at any ore time, and
the subscription towards constituting the
said stock. shall be orened at the City Ia
vern T.iplett's, in the Town of Alexan-
dria on the ED dav of May, 1915, at
the hour of II O'Clock In the forenoon.
and shall continue open until O'Clock IN
the afternoon. and may be opened in like
manner from day to day until the sum OF
One Million of Dollars DE subscribed, un-
der the superintendent of Nimrod Far
row. Samuel Amin, John Newman, Sa-
muel Ashbv, John d. Simms, John Jack
son. Col. VIM. TYLER, Joseph Vaudeville,
Edmund Brooke, F. Marsteller. ID. So
mers orso many thereof as may be pre-
sent to act as commissioners therein.
article Q.
The subscription being closed as afore-
said, the Commissioners or any live OF
them shall forthwith advertise meeting
of the subscribers for the purpose of elect
in6- from among the stockholders thirteen
Directors to conduct the affairs OF the
company, aud those persons who shall be
tuiy chosen at said election, shall be ca
vnaale OF serving as Directors until the
frst MONDAY in June in the year 1916.
and until otter Directors are chosen, and
the said directors at their iirst meeting
shall cboose President from their own
body who shaiiat the tine DE stockhol-
.,Ie, and citizen Of the United States, and
they shall also appoint such othceFs ana
servants under them as may be necessary
for executing the business OF the company
allowing to them such compensation 'or
4beir services respectively as shall be rea-
snnahle. The President and Directors
.sSaN determine upon the rules and forms
inf conducting the business and shall DIS
nose Of the money and credit OF the BANK
,n such manner as shall appear to item
hest calculated to promote the interest OIL
the proprietOrs.
article S.
.erba, second election OF directors shall
III on thp first Monday in June, 1916,
I'D the annual elections thereafter on the
sams aav aed month in the Town OF A
leyan,lr;a at such place and under such
rarnIat;ons as the Directors for the time
being may prescribe, and the stockhol-
sbaliyote at ali such elections by Dai-
LOT either in person or by proxy, and the
number ofyotes of each stakeholder shall
haaoa.I;no tolthe number of shares ne
shall hold.
Article 4.
One month previous to each election OF
D;ractnrs tine Cashier shall cause to De
made out a correct list of all the stock
holders which Shall De subject to the eS-
animation OF any member Of this lnstlsu-
ton.
A majority of the whole number Of VI
rectors Snail be necessary IN the choice
af president. Cashier and the other OF
6.ars and servants of the Bank, but three
directors with the President may con-
st;tnte a board for transactlng the ordina-
ny affairs of the Bank.
Article 6.
The President and Directors shall, as
seon as they may deemit expeedlent, oe-
,cia,e a dividend of profits, and every hail
wear thereafter shall make and declare
snch dividends of profit as they may deem
proper, but no dividend shall Ie deciar-
ed except by amMority OF all the Daiec-