Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1816-03-09

49, OACus Lie Sdlt UOOkS SIlafi
be Kept open for twenty days, unless the
whole number of shares shall be sooner
taken in in which event the commits
sloners, or a majority of them, may
cause them to be closed.
AS o as two thousand FIVE hundred
shares shall be subscribed for, the ma
nagers before named, or a majority of
them, Shall, by advertisement in one or
more OF the newspapers published in
the City of Richmond, call a general
meeting ct the subscribers at the said
City. The said subscribers, or a ma
Jority ofthem, shall choose nine direc-
tors; and thereafter the said subscrib-
ers, their heirs and assigns forever,
shall be incorporated into a body polite
and corporate, by the name OF THE
RICHMOND DOCK COMPANY,
and by that name may sue and be sued.
The said subscriptions may be made
in person, or by power of attorney !; and
each subscriber, at the time of subscrib-
ing, shall pay to the commissioners one
dollar upon each share subscribed for by
him or her respectively; the balance Of
the said subscription shall be called for
by a board of directors from time to
time: Provided, That not more than
five dollars on each share shall be called
for at any one time; and there shall be,
at least, sixty days between each call.
The Corporation ofthe City Of Rich
mond shall be allowed, by the said COM
~missioners, to subscribe to the capital
stock ofthe said company, for any num-
Der OF shares not exceeding one thou
sand: Provided, That they signify their
intention of subscribing, and state the
number of shares for which they will
subscribe, by an ordinance of the Com
mon Hall of said City, before the day
appointed for opening the books of sub
scription, and shall make a~n'approppia-
ton forthe pay ment ofthe money, from
time to time, to the board of directors of
the said company.
Wheneverrae board ~ofdirectors shall,
by an order duly made by then, call for
any, part Of the said subscriptions any
stakeholder who shall fail to make the
payment required, within thirty days
after the time appointed for the same.
shall subject his or her stock to be sold
at public auction for ready money bv
order of the board of directors, on their
causing thirty days notice of~the time
and place of sale to be inserted in some
public newspaper, publishedi i'm the City
of Richmond, and the money arising
from the sale ofthe said stock, to be first
appliedto thepayment Ofthe instalment
called for by the said board ~Ofdirectors,
and the charges incurred on the sale,
and the residue, ifany, to be paid over
to the delinquent stakeholder, or his
heirs or assigns: Provided hO1Oever,
That if the sales shall not produce as
much money as shall discharge the said
call and the expenses Of the sale, that
said delinquent stakeholder shall be liza
bic to pay the difference to the said com
pany; for which purpose the superior
court ofiaw for the county ofHenrico is
hereby authOrizedto give Judgment and
award execution against such deIin-
quent stOckholder,o n be~balfofsaid COM
pany, for the said deficiency, together
with costs of the motion Pr0uidSd,
Therebeten days previous notice given
the defendant of the said intended mo-
ton. And in case of the nOnpayment
oil The said calls to be made by the said
board of directors for the time before
mentioned, they may AT their option pro-
coed in the said superior court, by mo-
ton against the delinquent stakeholder
or stockholders, for the said call. instead
ofexposing his or her stock f~Orsale, ~
on the previous notice of ten days being
given the deiinquent of The intended mo-
ton; andthcs dsuperiorcOurtis here
by authorized and required to enter up
the Judgment and award execution for
the call aforesaid, with the costs Of the
motion.
Immediately after the FIRST, and every
subsequent election Of directors, they
shall choose one Of their own body as
president /; who, together with tho di-
rectors, shall remain in Office until the
first Monday in March thereafter, at
which time, and on the first Monday I'm
March in each year thereafter, there.
shall be a general meeting of thc stock
holders ofthe said company, in the City
Of Richmond, for the purpose Of hold
ing an election Of directors for the said
company, ofwhich meeting three weeks
public notice shall always be given i'm.
some newspaper published in said City:
4 1911 II