Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-05-20

ar Abe;r duties. The President in the /
s,m of 10000 dollars and the Cashier In /
tl. snm of $4,000 the other officer.
. aud servants shall also take an oath, anf
anter into bond and security in such sums !
as the President and Directors may pre-
scribe.
Article 9.
It shall be the duty of the President !
lin whose absence the Directors shall ar
noint President pro tempore) to preside
At the board of Directors, to vote on al!
ouestions-to minute the proceedings o.,
the board--to cause the orders and reso-
buttons of the board to be carried into eff
fect-to SIGN all bonds. bills, notes brother
engagements. which the board may from
tine to time direct to be issued for the
navmeRt Of money, and generally 70 su-
perrintend the affairs of this association.
article 10.
All bills. bonds, notes and every con-
tract Or engagement on behalf of the GEM
rany for thepayment of money. STALL be
SIGNED by the President and counterslgn-
ed by the Cashier, and the funds OF the
company shall in no case be liable Tor any
contract or engagement unless the same
shall be signed and countersigned as a.
foresaid.
..Grticle II.
The shares ofthe capital stock shall be
| transferable at any time, according TO
such rules as may be established by the
President and Directors. and every stock
| holder, whether he be so by original sub
scription or by transfer, shall be consl-
lered as member of this association, and
when he ceases to be a stakeholder, ne
shall cease to be member.
article IL.
| Tn case of the death, disqualification, or
resignation of the President. any Dlrec-
tor. Officer or Servant of this institution,
the board of Directors may at their next
meeting fill such vacancy.
.article Is.
| Tic any Stockholders should fail to payup
the several instalments on his stock, as
! the same may become due, his dividends
upon all such instalments as he may hare
previously paid, shall cease as to him, q
Shall remain to the use and for the bene-
| fit of the other members of the company.
/ article Ii.
I If the Directors of this association, Shall
at any time Willfuny and knowingly make
I and declare any dividend which shall i'm
pair the capital stock, or shall wiltully x
knowingly violate any OF the foregoing
fundamental articles of this association,
all the Directors present at the making
or declaring such dividend, or violating
such fundamental article Or articles and
consenting thereto, shall Re liable III their
| individual capacities to the company, tor
the amount or proportion OF said capital
stock so divided, and also Tor any INJURY
or damage that may accrue III consequence
of any such violation as aloresaid,a nd
each Director who shall be present, shall
| be deemed to have assented thereto, I'M
| less he cause his dissent to be entered on
record.
article IL.
1t is hereby expressly and explicitly
declared, to be the object and intention
a the persons who associate under the
sty!e or firm of the Merchants Bank os
Alexandria, that the joint stock or
property of the said Company exclusive
of the dividends to be made IN the man.
ner herein before mentioned shall alone
be responsible for tie debts and engage
ments OF the said company And that no
person who may deal with this company,
or to whom they may or shall become iii
any wise Indebted, snail, on anv pretehce
Whatsoever. have recourse against the Sc
perate property OF any present or future
member OF this company, or against their
persons. further than may be necessary
to secure the faithful application of the
funds thereof to the purposes to- winch,
by these presents, they are liable; but
ali persons accepting any bond, bill, or
note or other contract OF this company,
signed by the President, and counter
s,Sned or attested by the Cashier of the
company for the time being, or dealing
| vita it IN any other manner whatsoever,
| thereby respectively give credit to the
said Joint stock or property OF the sad
company, aud thereby respectively disa-
vow having recourse on any pfetence
Whatever, to the person or separate pro.
4 perty OF any present or future member OF
! this company, except as above mentioned.
1 And ali snls to be brought against this
Company If any snail be- SHAH be bro't
! aga,nst TIE PRESIDENT for the time being,
! and in case of his death Or removal frgm