Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-11-14

HI}&fes Oy EuE fgebk1 ~ ~ taAso -
Il Il falling le make sch tFnsnt
/ 8 directors ma appoint one Of their
Iown bid
i9: The president and directors
| shaII nor enasad, Or receive, q greater
Iascoilut or interest than at the rate OF
ale per cent for sixty days, Upon any
Loans OF adsauces of lnoGey which they
lsnay mike no stock shall be trunsfer-
Ire,i while tie holder thereof stands ac-
Ituhl!y indebted to the bank, the money
being due and unpaid, except The presi.
dent and directors shall otherwise Or
Ter it.
Art. III. Any Number Of stockholders.
not less fran thirty, who together shall
',e preprietors of three thousand shares,
s5Yunvards, shall have power at any time
Ia call seneraImeetihg of the StOckhold-
sfs, for purposes relative to the institu-
Ition, giving at least, SIX y eeks public
IaoticeSin ore or more newspapers OF the
town of Alexandpa, specifying in such
|notice the object of such meeting.
Art. IL. Ii shall be the duty Of the
president TO call board of directors on
duplication OF three directors in writing,
whenever thereto required, and the COM
Inissioners shall have power to value the
IreaV property, and raise or diminish the
value thereof, according to it's real value
when thereto required by the
person subscribing the same and by
order Of the President and Directors;
land ii the value should be epcreas-i
led they shall give certificate to,
the directors who shall add it to the orr.
gisal subscription, and The holder thereof
E0aying in the same amount in money, as
tine real estateis raised in value, he shall
be entitled to receive dividend thereon,I
The 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.
Aft. IS. This Institution shall con-
time untiil the first Gay of January
eighteen hundred and forty, unless soon-
Ter dissolved by a majority of votes OF
the proprietors Of the stock at q general
meeting called Tor taat purpose, alld the
president and directors at the expiration
at said time may If they should see pro-
Der continue the same for i longer PERI
i'd, by making their decision publicly
known by Insertions in some newspapers
n the town of Alexandria six weeks pre-
viously.
Art.s14. The president and directors
shall as soon as they may think proper,
declare dividend of profits on the ca
nital stock paid in ; but no stockholderl
shall be entitled to a dividend On real
estate subscribed beyond the amount Ut
dividend Oh toe money he has paid in,l
and every half year thereafter shall
make, an. declare such dividends OIL
profits as they may deem proper. provid-l
ed that no such dividend shall impaiij
the capital stock of the bank, and no d.
y;deud shall be declared, except by al
laaiority Of all the directors and it shall
se tie duty Of tie president and direct
ors, to cause a petition to be prepared
aud presented 10 the general assembly |
Of Virginia ptaring ttat honorable bodyl
to pass an act to incorporate the keal
Estate Bank Of the United States, ana
tie said president and directors shall mott
put the said bank into operation without
lawful authority, nor until one hundred
thousand dollars shall have been paIci MI
Art. Is. The real estate bank OF theE
Il. States shall be located in the first IN
stance at Wet End, in the county OIL
Fairfax, but the presidentand directors
with the concurrence OF two thirds oil
thatbody may remove the said bank toI
such place in the vicinity of the town Of
Alexandra as they may deem most ELL
.eible for successful operation.
Art. l6. On the dissolution OF this IN
stitution, whenever the same may takel
mace. eHectually measures shalilmmed!-I
lately be taken by the president ard az
Irectors then in Office, for closing all incl
concerns of this institution. and for d.
lyiding the capital and profits, Whlch
lmay then remain, among the stoc'ho!d-
Iersi in proportion to their respective IN.
lterests, and transfer to each subscriber,
his heirs or assigns, the same real estate,
AZ was subscribed By hin.
| Art. II. Real estate consisting in|
Eheuses, mills or other buildings, shall
lnot be taken by the bank as paft OF the
lsnhscr;ntian. nor as security for money