Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-11-20

fore sbY fllR pre- ~ WtttuaS Vl3 w
lis failing to make such appointment
HE ,apeetors may appoint one q theil
5wl body.
ArfyIO. The president and directors
shall not demand, or receive, greater
discount on interest than at the rate of
Dpe Ger cent. for sixty days, upon any
Iefsns or advances of money which they
NAY ikske. No stock shall be transfer
rei while the holder thereof stands ac-
tually indebted to the bank, the money
being due aud unpaid, except the presi-I
dent and directors shall otherwise or
der It.
Art.1l. Any number of stockholders.
not less than thirty. who together shall
be prosrietors of three thousand shares,
or upwards. shall hare power at any fine:
to cali a general meeting of the stockhold-
ers, for purposes relative to the institu-
tiop, giving at least, six weeks public
notice in one or more newspapers of the
town of Alexandria, specifying in such
notice the object of such meeting.
Art. 12. 1t shall be the duty of the
president to call a board of directors on
application of three directors in writing,
whenever thereto required, and the COM
missioners shall have power to value the
real property, and raise or diminish the
value thereof, according to its real value
when thereto repaired by the
person subscribing the same and by
order of the President and Directors /;
and II the value should be encreas-
ed they shall give a certificate to
the directors who Shall add it to the orr
ginal subscription, and the holder thereof
paying in the same amount in money, as
the real estate is raised in value, he shall
be entitled to receive dividend thereon,
,he same as on the original subscription,
but on the contrary if the commissioners
should reduce any real estate, and give
the directors a certificate specifying the
amount ofsuch reduction, the directors
shall have power to stop the dividend on
the same.
Art. Is. This institution shall con-
tinue until the first day of January
eighteen hundred and forty, unless SOON
er dissolved by majority OF votes of
the proprictors of the stock at o general
meeting called for that purpose, and the
president and directors at the expiration
of said fine may If they should see pro-
per continue the same fur longer peri
Cd, by making tlieir decision publicly
known by insertions in some newspapers
n the town of Alexandria six weeks pre-
viously.
Art. Ii. The president and directors
shall as soon as they may think proper,
declare dividend Of profits on the ca
pital stock paid IN; but 10 stakeholder
Shall be entitled to a dividend on real
estate subscribed beyond the amount Of
on the money i,e has paid in,
and every half year thereafter shall
make, and declare such dividends of
profits as they may deem proper. provid-
ed that no such dividend shall impair
tie capital stock of the bank, and no di-
yitiend shall be declared, except by a
majority OF all the directors ;and il shall
be the duty ofthe president and direct
ors, to eauae a petition TO be prepared
and presented to the general assembly
of Virginia praying that honorable body
to pass AN act to incorporate the Reai
Estate Rank of the United States, and
the said president and directors shall not
put tie said bank into operation withont
lawful authority, nor until one hundred
thousand dollars shall have been paid IN.
Art. IS. The real estate bank of the|
g. States shall be located in the FIRST IN
stance at West End, in the county or
Fairfax, but the president and directors;
with. the concurrence of two thirds OF
that body may remove the said bank to
such place in the vicinity of the town of
Alexandra as they may deem most ell
gibIe for successful operation.
Art. is. On tbedissolution OF this IN.
stitution, whenever the same may take
place. efectpally measures shall immedi-
stely be taken by the president and d.
rectors then in Office, for closing all the
concerns of this institution. and tor d.
yiding the capital and profits, which
may then remain, among the stockhoid-
ers in proportion to their respective IN
terests. and transfer to each subscriber.
his heirs or assigns, the same real estate,
as was subscribed by bin.
Art. II. Real estate consisting IN
houses, mills or other buildings, shall
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