Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-11-02

EwevRrca n { rust 70 such YersOil OK persons
I. a the president and directors may 2
uOiint for the use Of the bank, Wllirh dee {.
with the other payments shall pc deh
lvered over t. the president and direc
TORS Of said bank and It Shall be the du
ItY Of the said president and directors :
Eesuse The deeds thus delivered over 6
Them to be recorded in the proper OH
Ices--prosided however that such SUD
Iscriber Of real estate may use and occu'
Ipy the said real estate as If the same were
mot subscribed during the continuance
Il this association, and shall be enti'led
to reconyeyance of the same upon The
payment to the bank of the amount To-
Iwhichthe said real estate was taken, IN
gold or silver at their legal value.
Art. 8. And for the well goyerning
1 the affairs OF the said company, there
shall be eighteen directors, IL of whom
shall be residents of tle state OF Virginia.
and eighteen standing commissioners
rejected within FIVE days after the stock
is subscribed, any five Of whom respec-
lively may form board to do business,
and an election shall be held for like
number of directors and commissioners
on the first Monday IN February in each
year thereafter, BY the stockholders Of
said institution, aud by a plurality Of
votes actually given in. and those who
shall be duly chosen at such election, shall
be capable Of serving as directors and
commissioners by virtue Of snchchoice-
until the end or expiration Of the first
Monday in February next, ensuing the.
time of such election & until others shall
be chosen, and the said directors at their
first meeting, after each election shall !
chlse president IRON among their own
body. 1ncase it should at any time
so happen that an election of directors
aid commissioners should not take place.
at the time directed by these articles Of
association, it shall be the duty of tbeI
president and directors for the time|
being to order an election as soon there
after as circumstances will permit.
Art. A. The board Of directors by al
majority of votes shall have power tel
make all necessary bye laws, determine
the manner of doing guinness and theI
rules and forms 70 be pursued, dispose
of the money and credit OF the bank, iDl
such manner as may seem to them best
calculated to promote the interest oil
the stockholders-a majority Of the wboleI
number of directors shall be necessary
in the choice of president. cashier, and
the other officers Of the bank, and to sdesI
termine on Suitable compensation ior
their services.
Arts. Every stockhoIder being Of
'tizen of the United States, shall be en-l
titled to vote at elections, for direc-I
tiers and commissioners. either IN persont
Ior by written ballot by him or her sub.
scri6ed, with his Or her name. aud duly
acknowledged before justice OF theI
rpeace, a tcertificate whereof made IN thei
same and said ballot, shall DE by HIM
sealed up. and In his hand writing, ad |
dressed tothe cashier of the bank, whoI
shall deliver the same to the commis-I
sidners any time before the election Isl
closed, and shall be counted IN thet
choice of directors and commissioners
The number ofvotes to which each stock
holder shall be entitled, shall be ac-1
cording to the number of shares he shall1
hold, IN the proportion following, thati'
g to say For one share and not moIel
hantwo shares, one vote f r each share,
and every two shares above two and notI
exceeding ten, one vote, for every four
shares abGye ten and not exceeding thirel
~. one vote, for every six shares aboyeI
thirty and not exceeding sixty, one vote
for every eight shares above sixty and
not exceeding one hundred, one vote, and
for every ten shares above one hundred,
one vote but no person co.PartnershipI
or body polite shail'be entitled in his or
their own right, or as proxy, to a great
er number than thirty votes, and atterE
the first election no share or shares
shall confer q right Of suffrage which,
shall not have been holden two calender
previous to the day of cleo
ton. Every STOCKHOLDERS may sell
and transfer bis stock in the said bank
at his pleasure, not being less than one
full share, the transfer being made mi
the bank books, in the presence and With
the appreciation of the proprietor, or his
lawful attorney no such share shall
confer right Of suffrage, which shall not
have been transferred regularly on thef
books of the association sixty days pre-I