Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-11-17

WHICH tile S4t& A<eA 70 Wy - - (, :
gold or silver at their legal value.
4 Art. 3. And for tie ven governing
The affairs 81 the said company, there
shall be eighteen directors, IL OF whom
shall be residents of the state OF Virginia
and eighteen standing commissioners
elected within Eve days after the stock
is subscribed, any five Of whom respec-
lively may form a board to do business,
and an election shall be held for a like
number Of directors and commissioners
lon the first Monday IN February IN each
year thereafter, by the stockholders OF
said institution, and by a plurality OF
votes actually given in, and those who
shall be duiychosen at such election, shall
be capable Of serving as directors and
commissioners by virtue of such choice
until the end or expiration of the first
Monday in February next, ensuing the
Time of such election & until others shall
lbe chosen, and the said directors at their
first meeting, after each election shall
lchuse a president from among their own
body. In case it should at any time
$50 happen that anselection Of directors
and commissioners should mot take place,
lat the time directed by these articles Of
association, it shall be the duty of the
president and directors for the time
being to order an election as soon there
after as circumstances will permit.
Art. 4. The board of directors by a
majority of votes shall have power to
make all necessary bye laws, determine
the manner Of doing business and the
rules and forms 70 be pursued, dispose
OF the money and credit of the bank, 10
such manner as may seem to them best
calculated TO promote the interest OF
1.-THE Stockholders majority of the whole
number of directors shall be necessary
lin the choice of a president, cashier, and
the other officers of the bank, and to de-
|termins on suitable compensation for
their services.
Art. 5. Every stakeholder being a CT
|tiZen of the. United States, shall be en-
Titled to a vote at elections, for direc-
tors and commissioners, either in person
Tor by written ballot by him or her SUBJ
|scribed, with his orher name, and duly
acknowledged before a justice Of the
peace, a certificate whereof made in the
same and said ballot, shall be by him
sealed up, and in his hand writing, al
dressed to the cashier of the bank, who
shall deliver the same to the commits
sioners any time before the election is
closed. and shall be counted In the
choice of directors and commissioners.
The number Of votes to which each stock
holder shall be entitled. shall be ac-
cording to the number OF shares he shall
hold, in the proportion following, that
is to say For one share and not more
than two shares, one vote { r each share
and every two shares above two and. not
exceeding ten, one vote, tor every four
shares above ten and not exceeding thr-
tv, one vote, for every, six shares above
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-partnershlPl
or body polite shall be entitled in his orr
their own right, or as proxy, to a great 1
er number than thirty. votes, and afterI
the first election no share or shares
shall confer a right of suffrage which
shall not have been holden two calender
months previous to the day OF cleo,
ton. Every stakeholder may sell
and transfer his stock in the said bank
at his pleasure, not being less than one
full share, the transfer being made IN
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 the
books of the association. sixty days pre-
yious to the election !; and it shall be the
duty of the cashier to make out list OF
the stockholders with the amount OF stock
by each of them held, at least thirty days
previous to any elections for the inspecr
ton of the stockholders.
Art. 9th. None but a citizen OF the
United States, and a stakeholder, shall
be eligible as a president, director, or
commissioner, and the president, and d.
rectors, for the time being, shall give tour
weeks public notice, IN the newspapers
Of Alexandria, of the time and place Of
holding the elections of directors and
commissioners. :.
hn4 q-ha nreo;danf and cashier