Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-05-19

lsum 81 10000 dollars and the Cashier in
| the sum sof $4,000; the other ofhcers
and servants shall also take an oath, and
enter 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 ap-
point a President pro tempore) to preside
at the board of Directors, to vote on all
questions--to minute the proceedings Of
the board-to cause the orders and reso-
lutfons Of the board to be carried into eff
fect-to sign all bonds, bills, notes or other
engagements, which. the board may from
time to time direct to be issued for the
payment Of money, and generally to SUI
perintend the affairs of this association.
article 10.
All bills, bonds, notes and every con-
tract or engagement on behalf of the COM
pany for thepayment of money, shall be
signed by the President and countersign-
ed by the Cashier, and the funds of the
company shall in no case be liable for any
contract or engagement unless the same
shall be signed and countersigned as a
:oresaid.
Article IL.
The shares ofthe cagital 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 50 by original sub
,cription or by transfer, shall be consi-
Tered as member OF this association, and
When lie ceases to be a stakeholder, he
shall cease TO be a member.
.frticte II.
In case of the death. disqualification, or
resignation of the President, any Direc-
tor, Officer or Servant OF this institution,
the board of Directors may at their next
meeting fill such vacancy.
.9rticle IS.
1fany stakeholder should fail to pay up
the several instalments on his stock, as
the same may become due, his dividends
| upon all such instruments as he may have
previously paid, shall cease as to bin, y
shall remain to the use and for the bene-
1T OF the other members of the company.
.erticie II.
If the Directors Of this association, shall
! at any time wiilfuily and knowingly make
| a.ld declare any dividend which Shall i'm
air the capital stock, or shall wiliuIly &
| Saowinsly violate any Of tie foregoing
fundamental articles of this association,
ali the Directors present at the making.
or declaring such dividend, or violating
sach fundamental article or articles and
! conserving thereto, s'laii be liable in their
individual capacities to the company, for
tue amount or proportion OF sad capital
stock SO divided, ard also for any injury
or damage that may accrue in consequence
fany such violation Us atoress.d,a nd
each Director who shall be presert, shah
De deemed to have assente1 thereto, uE-
less he cause his dissent to be entered Oh
record.
.9rticle Is.
tits hereby expressly and err';c;lr
declared. to &c the object and intnn,ic4
of the persons who associate unJe. The
style or firm OF the Merchants Bank Of
Alexandria, that tie Joint stock or
property OF tire said Company Exclusive
Of tie dividends to be made in the man.
her herein before mentioned) shall alone
De responsible for the debts and engage
melts OF tie said comEany.-Andt that no
person who may deal with this company,
or to whom they may or shall become in
any wise indebted. shall, on any rretence
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 which.
by these presents. they are liable but
all persons accepting any bond, bill, or
note or other contract of this company,
signed by the President, and counter
signed or attested by the Cashier of the
company for the time being, or dealing
with it in any other manner whatsoever,
thereby respectively give credit to TIE
said joint stock or property Of tie sai''
company, and thereby respectively d!sa-
vow having recourse On any rietence
whatever, to. the person or seperate pro
perry of any present or future member ot
this company, except as above mentioned.
And ali suits to be brought against lis
Company (if any shall be- shall be bro't
against tie President for the time being,
and in case Of his death Or removal from