Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-10-20

80
ne biBna known, ard y i hereby pro
Ibagslsiisd, That the Subscribers DO agre'
for Themselves, fbeif heirs and success
.'Fsors. 10 forms themselves into 2 coWpa
nv Of limited partnership, Under th'
nauae and title Of Tie Iieaf Estuss l 2. q
o 3rerica. and they will be sp9;ect 20
80 and bond By the following princIPles
ssxssles and regulations
Ar. srRe capital stock Of said con- g
nanv.mav consist Of one million Of dol,
49, {sgss divided iatc shares OF one hundred
.sEsslollars each, with the privilege Of 10,
.efeasing K Whenever the pFeslaept !, aa,'
directors may think proper; ana snallI o 2
said in the following manner,that Is .
savss.due dollar on each shares at lne
.sT'eSse n subscfibiHg, and the halaneelto
NJ S,llea forp as tire president and ditsci
81 ~ ~ 5 NAV deem psp,er Provided, That
tksyd6 not call for any paypsnt E N less
ts,an thirty days, nor fpe-more thah ope
aslsay on each share II any time bpt
ars subscriber hay make 4 farther pay
mani Of the whole or any part subscrsD-
ed By him. and shall be entitled to a U
y;aeni in prapDg ti0n.
Art. g. The books for receiving SUD-
scr;plioas Tor said stocks shall be opened
It Fairfax coart-house. on the sd Men
5av in November next, under the dHec-
t;s,a OF eighteen eomnissloners---to WI
sr general Thompson Mason, Laurence
lewis. nd,aphrey Peake, VIM: Robin
am. WIN. I'll. F6ot, Daniel McChiches-
teg, William Moss. Thomas WILSON,
SloAn Il. Ricketts,, JOHN q Hunter,
VIM Cook. Nathaniel Manning, John
Morfisoa. EdmunlL DentF, Travis =.
N.sfr Charles Love, Samuel Swayne,
John Dulifi. :,
-t0Any Eve Of whom acting together shall
be Sufficient 10 constitute a board Tor any
-bus;ness.whateser relative to the articles
az association which books shall be Kept
omen for the space Of three days, aud II
n should be found that the amount oil
s,bscription shall exceed the SUM herein
pre6osed, as the capital stock, the com
inissioaers shall deduct from the subScrlp-
ion I'm due proportion to reduce the
Il whole to the specified amount. One halt
Of the payments of said subscription must
be.made in specie, the notes OF the oanN
nf yirgiuia. the District of Columbia, or
she state of Maryland, and the other
halfin real estate, situated in the nor
thern neck Of Virginia, the District OF
Columbia. or western shore OF Maryland.
1T two thirds the value OF such lands.
whichyalue AS well as the validity OF the
subscribers title, shall be ascertained by
the commissioners elected for that and
uther purposes, before certificate OF
such pSyment shall be gwen to the sub
scriber, and when such subscription shall
be paid ia land, the subscriber shall make
and tender to the commissioners .atore-
said, deed of conveyance, to such com
missioners Cor Tie use of said bank, which
deed, with the other payments, shall be
delivered over to the president and d.
fectors Of said bank, and it shall be their
daty to have the same recorded in the
proper Office, provided that such subscii
Der Of real estate may retain possession.
and receive the profits of such real estate
Che same asifitwas not subscribed during
the continuance of this institution, and be
entitled TO receive re-conveyance of
such real estate on payment into the
bank the amount in gold and silver at
their legal rate or value for which such
land wss conveyed.
Art. s. And for the well governing
the affairs of the said company, there
shall be eighteen directors, nine.ofwhOm
shall be residents Of the state Of Virginia,
aud eighteen standing commissioners
elected within FIVE days after the stock
is subscribed, any ave Of whom respec-
lively may form board to dc business,
and an election shall be held for a like
number. Of directors and commissioners
on the first Monday IN February each
a year thereafter, by the stockholders Of
said institution, and by plurality Of
votes actually given in, and those who
shall be duly chosen at any election, shall
be capable of serving as directors and
commissioners by virtue of such choice
= until the end or expiration of the frs
Monday in February next, ensuing the
timsof such election & until Others shall
be chosen, and The said directors at their
first meeting, after each election shall
chusc a president from among the stock
holders. In case it should at anv time
so happen that an election of directors
or commissioners should not take place
at the time directed by these articles q,