Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-11-17
Articles sc Association
d VtN 81 ~
Ok THE
Real Esta1s Blink q D Tia
United States.

| United States.
BE it known, and it is hereby pro-
lclaimed, That the subscribers do agree.
for themselves, their heirs and success
Isors. to form themselves into aconpa-
my Of limited partnership, under the
name and title Of The Real Estate Bank
Of the United States. and they will be
Isubiect to. and bound by the following
principles, rules and regulations, viz.
Art. /. The capital stock OF said conn
aany NAV consist OF one million OF dol
liars. divided inte shares of one hundred
dollars each, with the privilege of in
Iereasing ii to such amount as the Lee
IgisIature of Virginia may deem proper
| to take in the stock of the said Bank, or
whenever the president and directors
| may deem proper to dose. and shall De
paid 10 The following manner to witt
two dollars on each share, to the com
imissioners at the time Of subscribing,
and the balance to be called for by the
lpresident and directors as they may deem
Isroper Provided, That no call shall be
mad for any payments In less than sixty
days, or for more than five dollars on
each share atany one time; but any sub
|ber may make farther payment OF the
whole or any part subscribed by him, and
| shall be entitled to dividend thereon in
proportion
/ Art. 2. The books for receiving SUBJ
|scriptions for said stock, shall be opened
lat Fairfax courthouse. in the state OF
Virginia, on the Sd Monday in Noyem-
Der next, under the direction OF eigh-
teen conmissioners-to wit:
General Thompson Mason, Laurence
Lewis, Humphrey Peake, David Allen,
VIM. III. Foot, Daniel Mcchichester,
William Moss, Thomas Wilson, John
IL. Ricketts,, John G Hunter, VIM.
Cook, Nathaniel Manning, John Nor
risen, Edmund Denny, Travis G. Nash,
lJunr. Charles |. Love, Samuel Swaine,
and John Duiin.
Any FIVE of whom acting together shall
Ibe sufficient to constitute a board for the
transaction of any business OF the assOcl-
|ation-The books shall he kept open for
the space Of three days, from 20 O'Clock
in the forenoon till a o'clockin the after
moon Of each day & II it shall be found
at the end Of the said three days, that
the sum subscribed shall exceed the sum
of One Million of Dollars. the excess
thus created shall be reduced in manner
following that is to say from the subscrip-
ton or subscriptions hishest in amount
the commissioners shall subtract a share
or shares until the same shall be made
equal to the subscription or subscriptions
next highest in amount, and as often asl
the case shall require, they shall so pro-
coed to subtract share or shares from
the subscription or subscriptions re-
naming from time to time highest in al
mount until the aggregate of the amount
Of all the subscriptions be reduced to the
sum of million of dollars : and it by
and after the operation of such subtrac-
|tion Gas often as the same. shall be ne
!cessarily made Srepeated as aforesaid
la greater number of shares may be al
Ilowed to one or more of the subscribers
Than to the rest, or If the number Oh
shares shall eventually be greater IN a :
mount than one million of dollars, so that
lat least one share cannot be allowed to-
leach and every subscriber, then and IN
either of the before mentioned cases the
commissioners shall ascertain by lot IN
whom the greater number OF shares, or
the right Of subscription for and retain !,
ling one share Gas the case may be- shall
|be vested, and the person or persons IN
whose favar the lot may thereupOn fall,
shall be deemed to all intents and pur-]
poses the lawful subscriber or subscrlb-
|ers for such share or shares respectively.
One halt Of the payments OF said sui,
ton shall be made in specie, the notes OF
either of the chartered Banks in Virginia,
the notes of any chartered Bank IN the
District of Columbia, or state OF Mary
land, or the notes OF such other Banks as
the commissioners in the first instance,
and the president and directors alter,
wards shall deem proper to receive, and
in the public stock and treasury notes OF
the United States and the other half
NAV be made in real estate, situated M
the Northern Neck of Virginia, the Dis
trict of C Columbia, or Western Shore OF
Maryland at two thirds of the value OF
such real estate, which value shall be as
certained by the commissioners herein
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