Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-11-13

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Us fssling to make such appeintTnPlatI
|AIte directors may appoint one oil tpeiI
uwri bhdEs So s.
rt.si The president and tiIrectsrs
|sIskll not demand or receive, a greater
discount or interest than at the rate q
lone per cent. for sixty days, upon any
loans Of advances of money which they /,
aaf make no stock shall be transfer
|e.dswhlle, the, holder thereof stands &C.
sadly indebted to the bank. the money
eng due aud unpaid, except the presi.
lent,aAd directors shall otherwise or
Ter III eds 81 IS M
sArt.1ll. ANY number Of stockholders,
Esot less than thirty .fwho together shall
Eae proarietors Of three thousand shares.
|,r upwards. shall have power tany time
Ito can general meetikg OF the stockhold-
BIS, for purposes relative TO, the instite7
zion. giving at least, six weeks public
notice in one or more newspapersof the
town of Alexandria, specifying in such
notice the object of such meeting.
An IL. ii Shalt be the duty Of the
president to call board of directors on
implication of three directors In writing,
whenever thereto required, and the COM
;aissioners shall have power to value the
real property. and raise or diminish the
value thereof, according to its real'value
when thereto required by the
person subscribing the same and by
order Of the President and Directors ;
and II the value shoald be encreas-
led they shall give a certificate to
the directors who shall add it to the ORR
|ginal subscription, and the holder thereof
|Tayiing 10 the same amount in money, as
the real estateis raised in value, he shall
be entitledto receive a dividend thereon,
The same as on the original subscription,
but ontbe contrary IF the commissioners
shouldrednce any real estate, aud give
the directors certificate specifying the
amount ofsuch reduction, the directors
sl,allhave power to stop the dividend on
the same.
Art. IS. This Institution shall con-
Time until the first day of January
eighteen hundred and forty, unless soon
en- dissolved by a majority of votes Of
the proprietors of the stock at general
meeting called Tor that purpose, and the
president and directors at the expiration
Of said time may if they should see pro-
per continue the same for longer peri.
cd, BY making ;heir decision publicly
known by insertions in some newspapers
n the town OF Alexandria six weeks pre-
yiousiy.
Art. IA. The 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 stOckhOlderI
shall be entitled to dividend on real
estate subscribed beyond the amount of
dividend ON tire money he has paid in,
and every hall, year thereafter shall
;..ake, and declare such dividends OF
profits as they may deem proper. Proyid-
I'd that no such dividend shall impairl
the capital stock OF tie bank, and no di-
gidea,l shall be declared, except by al
majority OF all the directors and it shall
be the duty ofthe president and direct
prs, to canse petition to be prepared
md presented to the general assembly
ii Virginia praying tj,at honorable body
ID pass an act to incorporate the Real
Estate Bank Of the United States, ant
he said president and directors shall not
put the said bank into operation withontE
awful authority, nor until one hundredl
thousand dollars shall have beenpaid IN |
Art. IS. The real estate bank Of theI
u. States shall be located in the first m
stance at Wet End, in the county otI
Fairfax, but the president and directors;
" iih the concurrence ct two thirds OIL
that body may remove the said bank toI
such place in the vicinity OF the town OIL
Alexandria as they may deem most ell
gible for successful operation.
Art. 16. On the dissolution of this in-
stitutiOu. whenever the same may take
PLACE. effectually measures shall lmmedl-
atesysbe taken by the president and dl-
rectors then in Office, for closing all the
concerns of this institution, and tor d.
viding the capital and profits, which
may then remain, among the stockhold-
ers in proportion to their respective IN
terests. and transfer to each subscriber,
his heirs or assigns, the same real estates
as was subscribed by him.
Art. II. Real estate consisting I'M
houses, mills or other buildings, shall
not be taken by the bank as part of the