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


ton 10 be thce ard there made. And the
Pre- si,lent of the United States Is hereby
authorised during the present session OF
Ccnr~ess. TO nominate, :ud by and with
the advice aad cons mt ot the Senate, TO
appoint Eve directors OF the san BANK,
though not sto khoiders, any thing IN tie
,)r,vis;ons Of this act t. the contrary not
outstanding and the persons who shall
DC elected and appolntctl as aforesaid, shail
Be the first directors OF the SAID bank, and
shall proceed to elect one OF the directors
to be president of the saiN bank ana the
directors ana president 1t the SAID olnk
50 appointed and elected as aforesaid, shall
DC capable of serving in their respective Of
fees, by virtu: thereof, until the end and
expiration OF the first Monday OF the
month of January next ensuing the said APP
pNintments and elections ; and they shall
then AMI thencoforth commence, and CON
tirue the operations of the said bank al
the city of Philadelphia.
Sec. 1e. mi BE- t Further enacted, That
the directors for the time being shall have
power 10 api5oint such officers. clerks, and
servants under them, rs snail be necessary
for executing the business Of the said cor~
poratian, and TO allow them such Compen-
sati0n for their services respe cuVely, as
shall b reas uaSle and Shall be capable
ot exeroisi, = ST other powers aud autho-
rites, for the W II governing and ordering
of the officers Of the said corpore ton, as
shall be prescribed, fxel aud determined
hy the law, regulations and ordinances OF
the same.
sc. II. ind be IL fi;r'hcr enacted, That
the following rules, restrictions, Limitations
aud provisions, shall form and be funda
mental articles Of the constitution OF the
SAID rOrnOratiO0 to wit
/. The number OF votes - which the
stockhollers ali be entitled, in voting for
dire >tors, shall be according to the number
Of shares he, she, or they respectively shall
hoil, in the proportions following: that is
to say-for one share and not more than
two shares, one vote {; for every two shares
above two, and not eXcet ding ten, one
vote; for every four shares above ten, and
not exceeding thirty, one vote tor every
six shares above thirty, and not exec Ing
sixty, one vote for evsrv eight shares a
50ve sixty, arA not exceeding one hundred,
one vote and for every ten shares above
ore hundred. one vote but no person, CO.
partnership or body polite, shall be eati
tied 70 greater number than thirty votes !;
and after the first election, no share or
shares shall confer right Of voting, which
Shall rot have been holden three calendar
months previous 20 the day Of eiection.-
And stockh o!iers actually resident within
she UniteI States. ana none other, may
vote in elections by proxy.
.. Not more than three fourths of the
directors elected by the stockholders, and
not more than four-fifths If the directors
appointed b. the President Of the United
States, who shall be inotfoe at the time
Of an annual election, shall be elected or
appointed FOR the next succeeding year !;
.,.J CIV ~ hriA Ctffl mn
than thrce years out Of fear in succession :;
hut the director who shall be The president
IT the time of an election, may always be
re~appNintcl, or re elected, as the CIse
may be-.
3. None bot stockh ,ldcr, being resi-
81 zen of the United States, shall he
director nor shall director he emit
tied to any enoMment but the directors
NAV make such compensation to the pre-
sidenr for his extra ordinary attendance at
bic.
+, 4. Not less than seven directors shall con-
stitu1e a board for the transaction of bust
ness, OF whom the president shall always
be one, except in cases of sickness or ne
ctassry absence; in which case his place
may be supplied by any other director
whom ne, hg wiring, under his hand, shall
depute tor that purpose. Aud the director
So deputed, may 10 and transact all the
necessary business belonging 70 the Office
OF the president Of the said corporation,
during the Continuance Of the sickness or
necessary absence Of the president.
5. number of stockholders, not less
chan SIXTY, who, together, shall be propgi-
etars Of one thousand shares or upwards,
shall have power at any time to call ge-
neral meeting OF the stockholders, for pur-
poses rei~tive to the institution, giving at
least ten weeks notice in two public me VS.
papers Of the place where the bank is
sc,tsd, and specifying IN such notice the
object or objcC,s Of such mceSiDg.
6. Each asher or treasurer, before lie
enters upon the duties of his office, shall
be required to give bond, with two or more
suretics, 20 the satisfaction OF tile directors,
IN a sum not less than fifty thousand dol
l.rs, with condition for his good tehati-
or, and the faithful performance Of us da-
ties to the corporation.
7. Ihc lands, tenements, and hcredita-
lnents, which Il shall be lawful for the SAID
corporation 20 hold, shall be only such as
sRail be requisite for it, immediate accom-
modation IT, relation 10 the convenient
transaction OF lis business, and such as
shall ave been bona ,fas mortgaged 60 it
=, way Of security, OF conveyed 10 It IN sa-
tisfacti0n OF debts previously contracted in
the course Of It's dealings, OF purchased at
sales, upon judgments whioh SHALL have
been obtained Tor such debts.
8. The total amount Of deots which the
said corporation shall at any time owe, whe-