Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1816-01-29
Articles Of A ton
oe THE
Rsal ESTATE Bunk Of The Uaaed
States.

TNE 4 known. and ID IS hereby de
elkrs7. that we the subscribers, as
) sosiasine together, have formed 2 com n
eaov 50 limited paftnershiP. and de mu
taaAy agree with each ether and herep.,
I bind "a ourselves, Ia conduct the business
Of said company. in the town Of Alesan
dria, according to the rules herelnalte
prescribed. understhe pane and style Q
tie president and directors 0f'the Rea
Esfafe bank. Of the United States, and b.
these our fundamental articles Of asscci
! alton. do hereby covenant and agree " III
each other, that we, and all persons wht
,nsv transact business with said cemPa
nv shall be bound and concluded:
Art. 1. The capital stock OF said com
ranvs may consist Of one million OF dol
lars, with the privilege of increasing ie
Whenever the, president and directors
NAV think proper, divided into shares Of
one handred dollars each, to be PAID N
the following manner that Is TO say, i've
dollars ia cash on each share. at the time
ofsiabsaribiing, and toe balance. when the
president and directors may deem pro
ner. Provided that they do not call toI
any.paynsent in less than thirty days,
nor for more thar Ave dollars on each
share, at anY one time; but any sub
seriber may pay the whole. or any part
subscribed, 4 shall be entitled toa VI
videndin proportion.
Art. Q. The books FOR receiving SUB,
scriptions for said stock shall be opened
ia Aiexap,iria, at theCity Hotel, on Mon
day the 2otb day Of January 1910, under
tke direction Of ten commissioners, TO
VT: Samuel Harper, Bernard Bryan
Matthias Snider, John Swayne, William
Rhodes, Griffin Taylor, Benjamin rum
l,er, David Allen. Benjamin. Fendall =
David Wilson, any three OF them ,actEng
together, shall constitute board to DO
any business relative to the articles oil
association which books shall be open
Oh AT 9 o'clock. A. NJ. and shall be kept
omen until 5 o'clock, p. NJ. on that day,
usIess sooner filed. One halt the pay.
ments Of said subscription may be PAID
IN sDecie. the notes of the banks OF Vlr-
e;nia, the District of Columbia. the state
Of MARYLAND. the stuck of either OF those
banks. or stock of the United States;
and the other half in real estate at two
thirds its value; situated in the District
.oe Columbia, the NOrthen Neck OF Vir-
GINA. or haWesfern Shore OF Maryland. ).
The vaIue, as well as the validity ct the
subscribers title, shall De ascertained
by commissioners. elected for that and
6ther purposes, before certificate OF
such payment shall be given to the sub
scriber; and when payments shall De
made in real estate. the subscribers shall
make and tenderto the said commission
ars a deed of conveyance of such estate
Tor the use of said bank. The deed with
the other payments. Shall be delivered to
3I,e president and directors, who shall
have said deed recorded IN the proper
Office. Provided, that such subscriber
may retain possession, and receive the
profits thereof, the same as If it was not
subscribed, and be entitled to a recon
,seyauce Of. said estate on paying into the
bank the amount for which. it was con-
yeyed.
Art. s. And for the we'll governing the
affairs Of the conips ny, there shall be tf-
teen directors, aud Eve commissioners,
elected, en- the day after the books are
closed any three Of said commissioners
may form board to do business And
an election shall be held fora like num-
Der Of directors aud commissioners on the
last Monday in January IN each year
thereafter, By the stockholders of this IN
stitntion, aud by plurality of votes ac-
tuaily gwen in; and these whe shall be
duly chosen at any election, shall be ca
pable Of serving as directors, aud com
missioners by virtue of sach choice until
the expiration Of the last Monday in Ja-
naary ne = ensuing the time of such eiec-
ton, and until others shall be chosen
And the directors, at their FIRST meeting
after each election, shall choose a presi-
dent from among the stockholders. In
case an election should not take place nj
the time directed by these articles, il
shall be the dutyof the president and di-
rectors for the time being, TO order an a.
election as seon as circumstances will
permit.
Art. 4. A majority of all the directors
shall have power to make all Dye
laws. determine the manner of doing bu,
siness, and the rules TO be pursued; dis,
pose Of the meney and credit OF the bank
in sueA manner as may appear necessa
~ and best calculated to promote tbs