Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-11-20

paysnsut to the bank Of the aAioius tori
which the said real estate was taken, an /
gold Of siiyerat their legal value,
AIT. ). And for tie vel goyefnibgE|
The affairs Of thc said company, there
shallbe eishtcen directors, e Of whom
shall be residents Of the state OF Nirglnia.t
and eighteen standing commissioners
elected within FIVE days after the stock
is subscribed. any FIVE Of whom resper-l
lively may form a board to do bnsiaess,
and an election shall be held for a like
number of directors and commissioners
on the first Monday IN February in eachE
year thereafter, by the stockholders OF
said institution, and by a plurality oil
votes actually giyen ii. and those whal
shall be duly chosen at such election, shalt
|be capable of serving as directors and
commissioners By virtue q such chNice|
until the end or expiration Of the first
|Mondsy in February next. ensuing the
time OF such election &until others shall
Ibe chosen, aud the said directors at their
FIRST meeting, after each election shall
lchuse Il president from among their own
Ibady. In case it should at any time
$50 happen that an election OF directors
land commissioners should not take place,
lat the time directed by these articles Of
association, it shall be the duty of the
lsresident and directors for the time
Ibeing to order All election as soon there
latter as circumstances sill permit. /
Art. A. The board of directors by a
majority of votes shall have power to
make all necessary bye laws, determine
fine manner of doing business and the
irules and forms TO be pursued, dispose
of the anoney and credit of the bank, in
lsuch manneras may seem to them best
calculated to promote the interest OF
the stsckholders--a majority OF the whoie|
number of directors siiail be necessary
lin the choice of president, cashier, and
1.-The otkcr officers of the bank, and to de-
Itermine on suitable compensation Tor
their services.
Art. 5. Every stakeholder being a ci-
ltizen of the United States, Ehali be en-
Titled 60 a vote at elections, for direc-
tors and commissioners, either in person
Iar by a written ballot by him or her sub
Iscribed, with his or her name, and duly
acknowledged before a justice of the
lpeace. a certificate whereof made in the
same anu said ballot, shall be by him.
sealed up, and in his hand writing, ad
dressed to the cashier of the bank, who
shall deliver the same to the commits
isioners any time before the election isi
CLOSED, and. shall be counted in tliel
Ichoice OF directors and commissioners
T 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
us to say For one share and not more
than two shares, one vote FIR each share
and every two shares above two and not
Exceeding ten, enc vote, for every four
shares above ten and not exceeding thir-l
|ty, one vote, tor every six shares aboyei
thirty and not exceeding sixty, ore vote
for every eight shares above sixty and
not exceeding one hundred. one vote, andI
for every ten shares above one hundrcd.l
one vote but no person co-FartDershipI
or body polite shall be entitled in his orr
'theii. own right, or as proxy. to a great
er humber than thirty votes, and afterj
the first election no share or shares
shall confer a right of suffrage which
shall not have been holden two calender
mouths previous to the day of cleo
ton, Every stakeholder nay SELL
and transfer his stock in the said bank
at his pleasure, not heing less than one
full Share, the transfer being made inl
the bank books, in the presence and With
the appreciation Of the proprietor, or hisI
lawful attorney: no such share shall
confer right Of suffrage, Which shall notI
have been transferred regularly on the
books OF the association. sixty days pref
yieus to the election /; and it shall be thel
duty of the cashier to make out list oil
the stockholders with the amount of stockl
10y each of them held, at least thirty days.
previous TO any elections for the inspec-
ton of the stockholders.
Art. 9th. None but a citizen Of the
United States, and a stockholder, shall
be eligible as a president, director, or|
commissioned, and the president, and di-
rectors, for the time being, shall give four
weeks public notice, IN the newspapers
of Alexandria, of the time and place OF