Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-11-04

acre b. fse president, 81 writing ORION,
siA failing 70 make such appointment,
he directors may appoint one Of their
Town body.
Artyl0. The president and directors
Isball not demand, or receive, a greater
discount or interest than at thesrate Of
|one per cent. for sixty days, upon any
I'Aans or advances Of money which they
lmay make. No stock shall be transfer
lred while the holder thereof stands ac-
ItuaiIy indebted to the bank, the money
Ibeing due and unpaid, except the presi-
Ident and directors shall otherwise or
Ider it.
Art Ii. Any number Of stockholders,
mot less than thirty. who together shall
lhe proprivtors of three thousand shares,
Tor upwards, shall have power at any tire
Ito call General meeting Of the stocshold-
Iers, for purposes relative to the institu-
|tion, giving at least, six weeks public
|nofice in one or more newspapers Of the
town Of Alexandra, specifJingin such
notice the object Of such meeting.
Art. 10. 1t shall be the duty of the
lpresident TO call a board of directors on
lapplicationct three directors in writing,
whenever thereto required. and the com
lmissioners shall have power to value the
IreaI property, and raise or diminish the
value thereof, according to its real value
iWhen thereto required by the
Iaeeson subscribing the same ard by
jerder Of the President and Directors ;
Iaad if the value shonid be encreas-
led they shall give q certificate to
1.-THE directors who shall add it to the orr.
jginal subscription, and the holder thereof
iRaying in the same amount in money, as
| the real estate is raised Il, value, he shall
3be entitled to receisea dividend thereon,
l,he same as On the original subscription,
but on the contrary f the commissioners
should reduce any real estate, and give
/ e directors a certificate specifying the
lamount ofsuch reduction, the directors,
lsha'l have power to stop the dividend on
THE same.
Art. Is. This institution shall con-
|tinse until the first day Of January
|eightecn hundred and fortv, unless SOON
Ter dissolved BY a majority of votes Of
the proprietors Of the stock at general
meeting called for that purpose, and the
|president and directors at the expiration
|nf said time may if they should see pro-
|rer continue the same for longer peri
|od, by making their decision publicly
known by Insertions in some newspapers
N the town Of Alexandria six weeks pre-
iviously.
Art. IA. The president and directors
shall as soon as they may think proper
declare dividend of profits on the ca
pital stock paid in ; but 30 st0ckhclderl
shall be entitled to dividend on real
estate subscribed beyond the amount of
dividend on the money lie has paid in,
and every half year thereafter shall
make, and declare sncl, dividends Of
profits as they mavdeem proper. proyid-
ed that no such dividend shah impair
the capital stock of TIRE bank, and no di-
vidend shall be declared. except by a
majority Of all the directors lend it shall
re the duty of The president and direct L
ors, to cause pefiiion toi,e prepared |s
ard presented TO the general assembly |
of Virginia praying t at honorable body |,
to pass an act to incorporate the Real
Estate Bark Of the United States, andli
the said president and directors shall not|
nut the said bank into operation without
lawful authority, nor until one hundred i
dollars shall have been paidin.I
Art. Is. The real estate bank of the
u. States shall be located III the first IN
stance at West End. in the county OF
Fairfax, but the presidentand directors,
with the concurrence # tNo thirds of
that body may remove the sai9 bank TO
such place in the vicinityof the town Of
as they may deem most ELL
eibIe for successful operation.
Art. is. On the dissolution of this IN
stitution, whenever the same may take
place. effectually measures shall immedi-I
ately be taken by the president and d. {
recfors then il Office, for closing all the
concerns of this institution, and for di-
viding the capital and profits, which
may then remain. among the stockhold-
ers in proportion to their respective M
terests, and transfer to each subscriber,I
his heirs or assigns, the same real estate