Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-05-01
payable on demand Mith security to be

pay the call or calls which shall at any
time be made by the president and di-
rectors, at the time appointed for payment
of the same, such share or shares as the
failure shall attach to may be advertised
and sold by the said president and di-
rectors to make good the engagements of
such subscriber his executors. administra-
tors or assigns to the Company, and should
such sale prove insufficient, then such
subscriber, his executor, administrator or
assigns, the endorser or endorsers, pledge
or pledges which may have been given,
shall remain bound to make good any
further injury.
.4rticle 5.
The Copartnership shall transact its
business in the town of Alexandria, and
shall commence it's operations in ten DAYS
after toe raymeut of the first installment;
three thousand shares at least having been
subscribed.
.erticle 4.
The Subscription shall be opened in A.
iexandria, on Thursday the 4th day Of
Of May, 1915, under the direction of the
following Commissioners or any five of
them, VIZ: John G. Ladd, Joseph Dean,
Robert Young, Thomas Vowel, William
Smith, John Jackson, John Gird, George
Coleman, Joseph Vaudeville, PhilipTrip-
lett, James Anderson, George Taylor,
Ferdinand Marsteller, Daniel Somers &
William lIodgson, notice of the same be-
inc advertisedin the Alexandria newspa-
pers. And the said Commissioners shall
open the subscription book at 10 o'clock.
A. II. and shall continue it open until 4
p. NJ. and it shall remain open during
these hours for three days, unless sssner
hiied-but no person or persons, body
corporate or otherwise, shall be permitted
to subscribe on the first day for more than
250 shares: amt if the Stock be not all
taken on the first day, the books shall re-
main open the second, on the same terms
as the first; but if the subscription be not
filed on the second day, then the Com
mlssioners may permit any person OF per-
sons, bodies corporate or otherwise, to
subscribe for any number of shares, until
the whole number is complete. The
Commissioners shall issue receipts to the
different Stockholders, for the monies and
notes received of them at the time of sub
scribins, which receipts with the original
subscription, will be deemed good evil
dence of tie quantity of Stock, to which
each individual shall be entitled in this
Company.
Article S.
The Commissioners on closing the Sub.
ssription, provided that not less than
three thousand Shares are subscribed) are
Authorized and directed, by public and
reasonable notice. to call meeting of the
Subscribers and superintend the save,
who shall proceed to elect by ballot from
among their own body, by majority Of
votes, represented either in person or by
proxy, Ten Directors, citizens of the u:
States, two thirds whereof, shall be IN
habitants of the County of Alexandria,
who shall serve unit! the first Monday Of
November next, on which dav, and the
same day annually, an election of Direc-
tors on similar principles shall take place,
under the superintendent of Commits
sioEers being Stockholders and not d.
rectorsl previously appointed by the Board
or Directors. The persons elected Di-
rcctors shall be Notified by the Commits
sioners, the day succeeding the election,
who shall assemble as soon as may be
conveniently practicable, and proceed
forthwith to the election of the Presi-
dent, either from their own body or the
Stockholders at large, who shall serve
with the Directors elected, until the sue
cee,iing election of Directors and Presi-
dent respectively, and no longer. AS
soon as the Board shall be organized, the
Commissioners empowered to receive
subscriptions and superintend the present
election, shall ray over to them all the
monies and notes, which shall have been
received for the subscriptions, and shall
deliver to them. all tie books and papers
belonging to the institution, and their
duties thercupon shall cease and deter
mlne. Each Director ceasing to be a
Stakeholder, shall cease to be Director,
and no officer or Director OF any other IN
surance Companys shall at the same time
be an Officer or Director in this. Every
Share shall entitle its proprietor to a
vote, but no Stakeholder shall be permit
ted to vote. posterior to the first election,
who has not held his Stock on the Books
of the Company for twenty days pricr to
lie election-all proxies enabling persons
to vote at elections. posterior to the first,