Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1816-01-22

VI ClAreus tldt NJ ssir cN1cSa 49, $50
snciatiug together, have formed 2 CON
raev oliimitea partnership, and do mn
suaiIs agree Nth each other and hereby
Mind ourselves, TO conduct the husi mess
IT said company ia she town Of Alexans
dria, according IA che rules hereinafter
rssscfibesf under the name and style Of
isse president and directors of the Real
Estate Bank Af the United State ans By
these our iundamental articles ct assecl'
alton, doheFehy covenant and agFee with
81 other. that we. and al persons, she
NAV trarfSaS ssss:ysc~s With said cOfnpa.
nv shall Be bound ard concluded.
Art. i. The capital stock OF said coUa-
pany mar consist 8 one million Of del
4afs. win TIE privilege OF increasing It,
~heDeser fhe presidents and diFes tors IS
faay fss,nk nsoper. slivided into shaFss Ct
one hundred dollars each. to be paid IN
The following manner fiat IS tasay, FIVE
dollars ia cash on each share AZ tie time
of subscribing, and the balaEce, wien the
president and directors may deem proc
Ser. Provided that they donat cal + tor
any pavement II less than tlindy DAYS.
ncr for more tlsan fye dollars on each
share, at any eRe time bat any sub
scriber may pay the whole. or any part
subscribed, & shall be- omitted toa di.
yidend 10 proportion.
Art. g. The books for reEeiging sub
scriptions far said stock shall be opened
inAicxandrias al the TSty Hotels. on Asea-
sIay the 39th t:ayof January i8fo, under
the directioE at ten commissioners, to
wst: Samuel Harper, Bernard BRYAN,
Matthias SHider, John Swsvns. William
Rhodes, Griffin Taylor, Benjamin Plum
mer, David Allen. Benjamin Fendsli e.
David Wilson, any three Of them acting
feeether, shalt constitute a'board to do
any business relative TO the articles oi
association which books shall be Open
ea at 9 o'clock "A. III. aud shall be kept
oper until S o'clock, p M on that day,
unless soon er filed. gnehaif the pay
sssats Of said subscription may De paid
IN speeie. the notes of the banks OF yir-
ainia. the District of Colanbia, the state
sc MARYLAND, the stock Eeitbe, OF those
banks. or stock Of the United States;
aad the otherhalf in real estate at two.
thirds It's value; situated in the District
of Columbia, the Northen Neck OF Flr-
riinia, or eAFestern Shore OF Maryland
The value, as web as the validity OF the
subscribers title, shall be asceftaInedI
By commissioners, elected for tat and
other purposes, before certificate on
such payment shall be given to tae sub
scriber and when payments shall be
made in real estate. che subscriber shall
make aud tendsrtO the said commission
crs q deed Of conveyance Of such estate
for the use Of said bank. The deed with
the other payments, shall be delivered To
The president aud directors, who. shall
have sad deed recorded in the proper
Office. Provided, that sach subscriber
NAV retain possession. and receive tAe
. offs theresf, the same sill it was nes
subscribed. and be entitled to 9 recon
vevance of said estate on paying iaato tue
bank the amount for which It vas con-
seyed.
Art. 8. And for the well governing TIE
sFsirs Of the company. there shall be ST
teen directors. and Eve commissioners,
elected. On the tlay after the b0oks are
closed any, three Of said commissioners
may form board to DO hslsiness: And
an election shall be held for ike num-
Der OF tlirectols and commissioners on the
last. Monday in January IN each year
thereafter, By the stockholders cf this IN
stitatiOn, aad BY plurality of votes ac-
tualIy giver IN and these who shah be
duly chosen at any election. shall be ca
pable Of serving as directors. ard com
nissioners by virtue of such choice until
Che expiratiHnof the last Monday in Ja-
nuary next ensuing the time of saeh cleo
tion, and until others shaI.lhe chosen
And. the directors, at their first meeting
aflef each election, shall chorse a presi-
dent ffum among the stockholders. In
case an election shmdd not take place at
ihe time directed bY these articles, il
shall be the duty Of The president ard d.
fecters tor the time being, TO order an
election as soon as circumstances will
permit.
Art,4g a majority efall The directors
shall have power to make all bye
laws, determine the manger ofdeing bu-
sinsss, and the rules to be pursued; dis
pose OF the laeney and credit of the bank
m such MANNER as may appear necessa.