Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-11-17


own body. 80 ~ y lfta
ArtI10. The president and a..
shall not demand, or receive Sass.ors
discount or interest than at the s s,sa'st
one per cent. for sixty DAYS. oman a's q
loans or advances of inosey wt;eb an. any
may make. No stock shall be- trsa. .seJ
red while the holder thereof stan saser-
|tually indebted to tie bank. the MAG =.
being due and unpaid, EXCEPT Inc p'a
dent and directors shall otherwise ' !.
der it. W.
/ Art. II. Any number Of stockbo,d...
not less than thirty, who together sIs,'
be proprietors of three thousand seays s'
or,upwards, shall have power at anvt;sss
to call a general meeting of the stockhols,
ers, for purposes relative to the inst;tr
ton, giving at least, six weeks pubI;sl
|notice4in one or mere newspapers Of II.
town of Alexandria, specifying IN sasL NJ
notice the object of sach meeting.
Art. l2. 1t shall be the e!uty Of n.
president to call board of directors On
application Of three directors in writinD
whenever thereto required, and the CON-
missioners shall have power to value 4.
real property. and raise or diminishtb ii.
value thereof, according to its real value
when thereto required by Il,
person subscribing the same and b,
order of the President and Dircctun:
and if the value should be encreas.
ed they shall give certificate 70
the directors who shall add it to the ori.
ginal subscription, and the holder Thereof
paying in the same amount in money, az
the real estate is raised in value, eshsN
be entitled to receive dividend thereon
the same as on the original subscription,
but on the contrary if the commissioners
should reduce any real estate, and give
the directors a certificate specifying the
amount ofsuch reduction, the directors
shall have power to stop the dividend On
the same.
Art. 13. This institution shall con.
time until the first day of JaDualy
eighteen hundred and forty, unless soon
er dissolved by majority of yotesd
the proprietors of the stock at general
meeting called for that purpose, and tie
president and directors at the expiration
of said time may if they should see pro.
per continue the same for a longer peri.
Cd, by making their decision publicly
known by insertions in some newspapers
n the town of Alexandra six weeks pe
viously.
Art. ID. TIE president and directors
shall as soon as they may think proper,
declare a dividend of profits on the ca
pital stock paid in !; but no stockholdet
shall be entitled to dividend on real
estate subscribed beyond the amounted
dividend on the money he has paid in,
and every half year thereafter shall
make, AM. declare such dividends d
profits as they may deem proper. proyld-
ed that no such dividend shall impair
the capital stock of the bank, and no Or
vidend shall be declared, except bys
majority of all the directors ; and il shall
be the duty ofthe president and direct
Drs, to cause petition to be prepared
and presented to the general ASSEMBLY
Of Virginia PRAYING t at honorable BODY
to pass an act to incorporate the Real
Estate Bank of the United States, and
the said president and directors shall DOT
put the said bank into operation without
lawful authority, nor until one hundred
thousand dollars shall have bepaPalee u.
Art. Is. The real estate bank o. a@
u. States shall be located il the frs'm
stance at West End, in the county v
Fairfax, but the president and erect0's
with the concurrence Of two thirds q
that body may remove the said bank y
such place in the vicinity of the town !. y
Alexandra as they may deem most Gu
cibIe for successful operation. 80,
Art. 16. On the dissolution OF this ~
st;tution, whenever the same may ta@
place. effeetually measures shall immed'
aately be taken by the president ana ~
rectors then in Office, for closing all M
concerns of this institation, and fol . az
viding the capital and profits, En1t a
may then remain, among the stockOO;u y.
ers' incorporation to their respectlvee, "
terests, and transfer to each subscriber ne.
his heirs or assigns, the same real e''a'''
as was subscribed by him. !,
Art. II. Real estate eonslstlns. IN
houses, mills or other buildings, s pa.
not be taken by the bank as part 0,r,
subscription, nor as security for NJ np II.
unless the same have been duly ana wv