Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-11-02
Articles Of Association
or THE
Real Estate Bank of the
United States.

| Bit known, and it is hereby pro-
,lclaimed, That the subscribers do agree
for themselves, their heirs and success
,lsOrs. to form themselves into c0mpa-
by of limited partnership, under the
Enatge and title of The Real Estate Bank
of the United States. and they will be
subieet 70. and bohRd by the following
Iprincillles, rules and regulations, viz.
| Art. |. The capital stock of said com
tpany NAV consist OF one million of dol
1laFs. divided into shares cf one hundred
dollars each, with the privilege Of in
creasing it to such amount as the Lee
Igislature of Virginia may deem proper
itofakein the stock of the said Bank, or
Whenever the president aud directors
tmay deem prope, to do SO, and shall be
paid Ia the following manner to Wit
tive dnllars on each share, to the com
;missninerS at the time of subscribing,
land the balance to be called for by the
president and directors as they may deem
sprapef: Provided, That no call shall be
made for any payments in less than sixty
idays, or for more than FIVE dollars OH
each share atany 'eue time but any subs
Der may make farther payment Of the
whole or any part subscribed by him, and
shall be entitled to dividend thereon in
proportion.
Art. 2. The books for receiving sub
'scriptions for SAID stock, shall be opened
at Fairfax courthouse. In the state Of
Virginia, on the Sd Monday in Novem-
Der next, under the direction OF eigh-
teen commissiNlers--tO Wit:
General Thompson Mason, Laurence
Lewis, Humphrey peake, David 4lIen.
/ VIM. II. Foot, Dapiei McChichester,
William Moss, Thomas Wilson, John
IT. Ricketts,. Jolih G Hunter, VIM.
ooE, NataahieI Manning, John Nor
frison, Ednsnd Denny, Travis G.. Nash,
tJuuf. Charles /. Love, Samuel Swaine,
land John Duiin,
1 Any hye OF whom acting together shall
i5e sufficient toconstitute board for the
t ansaetiond any business Of the associ-
atian-- he books shall be kept open for
the STAGE OF three days, from 20 o'clock
1ib tie iorenoontill o'clockin the after
lnem Of each daY & Il it shall be found
at the end Of tie said three days, that
the sum subscribed shall exceed the sum-
lot One Million Of Dollars. the excess
thus created shall be reduced In manuerI
lfollowin thai IS to say from the subscrip-I
ltlon or subscriptions highest in amount,
1.-THE commissioners eaSl subtract a share
Tor shares until tlsA same shall be madel
Iequal to the subscrietidn or subscrintionsI
inext highest lie sGo0nt, and as often az
1.-THE case shall require. they shall so pro-
Iceed tn subtract Il stare Or shares front
the subscription Or subscriptions re-
Imaining from time to time highest In "a
I,nsuut until the aggregate OF the amount
lofail the subscriptions be reduced to the
sum ofone million of,dollars : and il By
land after the operation of such SHbtrac-
! tion (as often as the same snail De ne
Icessarily made 8.repeated a aioiesaid)
| a greater nnmber OF shares may be al 4
ll0wed to one OF more of the subscribers
Ithan to the rest, or ii the number oil
lshares shall eventually be greater IN a.
1mount than one million of dollars, so that
lat least one share cann0t be allowed to-
leach and every subscriber, then and an
leither Of the before mentioned cases the
commissioners shall ascertain by lot inI
iwhom the greater number 81 shares, or
1.-THE right Of Subscription for and retain
ling one share fas tue case may be- snail
ibe vested, ana the person or persons in
Whose fayar the iot oay tleefeupon fall,
IshaIi be deemed to all ntents and par
Iposes the iaglr subscriber or subSerib-
lers for such sbat e OF shares respectively. ]
lone half OF tie payments OF said sub
I.ioa shall be made III specie, the notes of
leither Of the chartered Banks in Virginia,
1.-The notes Of any chartered Bank in the
| District Of Columbia, or state OF Mary
LAND mr. the notes Of such other Banks a
the commissioners IN the first instance,
land the president and directors after
wards SHAH deem proper to receive, and
IN 4he nuhIic stock and treasury notes oil
lthe Z nited states and the other half
lmav no made In real estate situated III
the Northern Neck of Virginia, the Dis
ltr;ct Of Columbia, or Western Shore Of
lNiaryland at two thirds OF the value ri
isuch real estate, which value shall be a.
lcertaihed by the commissioners he Ell
latter described to be elected for tsa'
land other purposes Before certificate
Iof such payment shall be given, when tbs
sub eruption shall be paid in real estate,