Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-04-17

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bank on the first q Y Of january, one thou
sand eight hundred and seventeen, which
saia stock It shall be lawful for the SAID
| President. Directors, and Company to setl
and transfer for cold and silver coin o,.
| ballion at their discretion Provided, they
siitli MOI sell mere than two millions of
! dollars thereolin any one year.
! Sec. Z. .H'td be it further enacted. That
/ the subscribers TO the said bank OF the u
! nitcd States OF America, their successors
! and assigns, Shall be an,l are hereby Gre
atcd, a cooperation and bndy polite, by the
name and style Of {. The Pre- sident, Direc-
| tors and Company of the Bank of the Uni
ted States" and snail so continue until the
| third day of March, in the year one thou
| sand eight hundred and thirty six. and by
that name shall ~, and are hereby made
| able < capable, in law, 70 ha.e, purchase,
receive, possess, enjoy g retain TO them s.
their successors, lands, rents, tenements.
hereditaments, goods, chattels & effects, ce
whatsoever kind, nature and quality, 80 an
amount not exceeding, in the wbo.e f.itv-
hive miiiions of dollars including the a.
mount OF the capital stock aforesaid and
the same to sell, grant, demjsc, aEeN OF
dispose of; to sue and be sued, plead ana
be impleadsd, answer aud De answered,
defend ana be defended, in all State cour;s
having competent jurisdiction, and in any
Circuit Court Of the United States; and
also to make, have, and use q COM
mon seal, and the same to break, alter and
renew, at their pleasure ; and also to or
dam, establish and put in execution, such
bye-laws, and ordinances, and regulations,
as they shall deem necessary and ennveni-
eat for the government Of the said Cor
po:ation, not being contrary 10 the Cnusti-
tuition thereof, or the laws of the United
States; AMI gen rally to do and execute
all and singular the acts. matters and
things, which to them it shall, or may APP
pertain 10 10 subject. nevertheless, 10
the rules, regulations, restrictions, hmita-
tons and provisions hereinafter prescribed
and declared.
Sec. 6. mi be it further cnacfe9. That
for the manag ment of the afrirs Of the
said corporation, there shallhe twentv-
1--we directors, i've of whom, being stock
holders, shall be aunulliy appointed by
the President Of the United States, byaud
with the advice and consent Of the Senate,
not more than three of whom shail be resi-.
dents OF any one Stair. and twenty CT
whom shall BE- annually elected at the
banking house Isl the city OF Ph:ladelphia.
Oh the first Monday Of January, ineach
year, by the qunliied stockholders of the
Unlted States, and by plurality Of votes
then and there actually given sccnrdil~r
to the scale Of voting hereinafter prescrI-
bed FroUidca ARRAYS, that no person,
being = director In the b nix of the United
States or any of its branches, shall be a
"A - 49, E .eIs.,..ld
any su h dire or act asa director ID asy
other bank, it shall forthwith vaoste his
appointment in the direction of the bank It
the United States. And the directors, SO
duly appointed and elected, shall be caps-
bic OF serving, by virtue of such spgoir
mcnt and choice, from the first Monday in
the month of January of each year, untii
the end and expiration Of the frst Monday
IN the month OF January of the year n xt
ensuing the time Ct each annual election 10
be held by the S'ockholders as aforesaid.
And the board of d.reCt5r5, aD@ually, -
'he hrst meeting ifer their election "a
each and every yea, shall proceed to c.ccs
one o. the directors to be pr sidcnt Of the
corporation, who shall hold the said Office
during the same period for which tho d.
rsctors re 2rpciEte and elected as aiore-
sad PrOu9ed al89. that tas first ao-
pOlntment ard election Of thc directors and
president Il he said bank shall be at the
time and for the period hereinafter de-.
ciared: Ind f'roz'ided also, that ia case
If should atany tine happen chat an ap-
pointm mt or election ef directors, or IN
election Of the presid nt Of the said baAr,
should not BE- So ma as TO take tffsct On
any day wien, in pursuance Of this act.
they ought to take eff Ct, the said corDo-
ration shah u {, for th c1use, be deemed
t. be dissolved but 1t shall be lawful ~
any other time 20 maze such appoint
Gen;s, and 30 hold such el ctions. las the
Csc may be,) and The manner Of holding
the elections shall be regulated by the bts;
laws and ordinances of ii c said corporate
on and until such appointing IS or electi-
ons be made, the dir ctors and president
Of the said bank, for ths time beng shall
continue in Office: Ind froui3ed 49,
that in case Of the death, resignation CT
removal OF thu president of the I'D cofro4
ration, the directors shall proceed to,ciecs
another president from the directors IS
aforesaid and in case Of the death, re-
rnaton, or absence from tie UnieeE
States, or removal Of n director from cf-
fee, the vacancy shall be supplied by the
President Of the United States, or vs. the
s'ocSho dcrs, rs the case may be. But the
Pfcs.d ut IT the United States alone shall
have power 70 remove any &C the cilectorsI
appointed by him as aforesaid.
Sec. @. Ind be il .fprfler enacted. Thael
rs soon asthe SUN Of eight millions, fi9sI
hundred thousand dollars in gold and st
YER coin, and in che public de5t siall kay0
been actually received on account 0r lie
subscriptions TO the capital Of The said bankl
Exclusively Of Che sfbs rlpii ns sforssa "a
49, e. -. l..