Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-11-04

WI fAda 'etif H0tAt Sut S7tHtt< -
gold OF silver at their legal value,
Art. s. And for tie well governia
the affairs OF the said company, there
shah be eighteen directors, ~ q whogs
shall he residents of the state OF Virginia,
snd eighteen standing commissioners
elected within five days after the stpck
IS subscribed, any fiysof whom respecS
lively may form board to do business,
and an election shall be held for a like
number of directors and commissioner
on the first A:onday n February 10 each
wear thereafter, by the stockholders |,
said substitution, and by a plurality OF
Votes actually given In, and those who
shall be duly chosen at such election, shat
be capable Of serving as directors and
commissioners by virtue Of such choice
until the end or expiration at the trst
Monday in February next, ensuing The
time of such election &until Others shall
be chosen, and TIE said directors at theiI
FIRST meeting, after each election shall
c!.use a president from among theirOwn
body. in case it should at any time
So happen that an election Of director
and commissioners should not take place,
lat the time directed by these articles d
|association, it shall be the duty of the
president and directors for the time
being to orderaa election as soon there
after as circumstances will permit.
Art. A. The board Of disectcTs by 9
|maiorit, Of votes shall have power g
make all necessary bye LAWS, determine
the manner of doing business and the
rules and forms 20 be pursued, dispose
of the money and credit Of the bank, y
such manner as may seem to them best
calculated to promote, the interest q
the stockholders--a majority Of the whole
number of directors shall be necessary
in the choice of president, cashier, and
the ether officers of the bank, and to de-
ternine on suitable compensation Tor
their services.
Arts. Every stoekholder beng a CT
tizen OF the United states. shall be en-
titled to vote at elections, Tor direc-
tors and commissioners. either N person
or. BY written ballot by himor her sub
scribed, with his or her name. and duly
acknowledged before y justice OF the
peace. certificate whereof made in the
same and sad ballet, shall be by hin
sealed up,'a-.d in his band writing,ad
dressed to the cashier Of tie bank, who
shall deliver the same to the conmls-
sicaers any time before the election Isl
clnsed. and shall be counted in the|
choice of directors and commissioners,
The number ofyotes TO which each stock 1
holder Shall be entitled, shall be ac-
carfling TO tie number Of shares he shall
hold, in the proportion following, that
IS to say For one share and not NOR e
than two shares, one vote each share,
and every two shares above two and not
exceeding ten. one. pctc, tor every tour
shares above ten and not exceeding thr-l
II. ore vote, for every SIX shares above
thirty AMI net exceeding sixty, one vote.
for every e;ght shares above sixty antI
not exceeairg one hundred, ope vote, and
for every ten shares above one hundred, j
one vote /: bat no person co1rartDsrslnFi
Sc kody polite shall be entitled in his or
their own lisht, Or as proxy, to great-I
,r number than thirty votes, aad alter!
the first election no share or sbaresI
shall confer right Of suffrage which,
shall not have been bolden two caiendef|
months previous to the day of cleo!
ton. Every stakeholder may sell
and transfer his stock in the said bank
1t his pleasure, not being less than onel
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 a right of suffrage, which shall not
have been transferred regularly or theI
books Of the association sixty days pre-
yious to the election and it shall be the /
duty of the cashier to rsake out a list OF
fhe stockholders with the amount OF stock
by. each of them held, at least thirty daysl
previous TO any elections for the inspec-I
ton of the stockholders.
Art. 9Th. None but citizen of the
United States, aud a stakeholder, shall
be eligible as president. director, or|
ard the president. aud dr.
rectors, for the time being, shall give four
weeks public notice, IN the newspapers
Of Alexandria, of the time and place oil
holding the elections Of directors and
commissioners.