Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1816-04-20
lNU.uBER 8.

whatspver KIND, nature and ouclity. 20 an n
MON not exceeding, IN the whole. fit; y-hve mil.
Mons OF dollars, including the amount of the ca.
pltai stock aforesaid and the same to sell GRANT
demise, alien or dispose of to- sue and be sued,
plead and be nipple ded, answer and be answered
defend and be defended. in all State courts navl~
my competent jurisdiction, and in any circuit
court OF the United States and also to make,
nave, and use common seal and the same to-
break, alter and renew at their pleasure and
also to ordain, establish and put in execution,
such bylaws, and ordinances, aud regulations az
'hey snail deem necessary and convenient for the
government OF the said corporation, not be ny
contrary to the constitution thereof, or the laws
OF the United States aud generally to do and
execute all and singular the acts, matters and
things, which to them it shall or may appsrtan
TO do; subject nevertheless, to the rules, regula-
% ;, re c,iOns, lirn 2tonS I'D PROVISIONS here.
matter prescribed and declared
Sec. .3cd 5s ii GnEser enacted That f,r1he
management OF the affairs ofthe SAID corporation
there shall be twenty-five directors five of WHOM,
beng stockholders, shall be annually appo;nted
by Tue President OF the United States, BY and
with The advice consent of the Senate noe
more than three ofwhom shall be resids nts ofany
one State. and twenty of whom shall be annually
cleo ed at the banking house in the city of Phla.
deipha on The first Monday of January. in each
year, by the qualified stockholders of the can,tal
OF the SAID bank, other than The Unred States,
and by purality of votes then and there accord
ng to the scale of voting herenaf er prescr BID
f'oVded at1oays, That no person, beng a dIrec-
tor IN me bank OF the United Siales, or any OF Its
branches, shalt be 4 rector of any other b nix
and should any such rector &C as a director m
any ether bank, it shall forth vac ate his au-
poinunent III tie direction of he bank of the
United Sta;es. And he directors so dulv an.
pointed and elected, shall be capable of serving.
oy virtue nf such appointment and choice, from
me mrs Monday in the month Of Januqry of each
year, until the end and expiration of the first
Monday in The month ofJ.nuary of the year next
ensuing the time of each annual election To ba
heid by the stockholders Is aforesaid And The
board or directors, annually &c the first msetinr,
ai'er thelr election IN each a'id every year, shall
proceed to cleo one of the directors to be Dresi-
dem of the Corporation, who shall hold The said
once during the same period Tor which the di-
rectors are 'PpOntsd and elected as aforesaid .
Frop9asd also, that The first appointment and e.
lee on OF the directors and president OF the sad
TX small be at The time and for The period here.
maj err declared ind bro14oso aiso lhtl IN csse
1t should at any ume happen tna AN auDo,nttnant
or election OF directors, AN elec ION OF the Dre
sden OF the SAID bank, should not ne So made "a
TO axe effect On any dav when in l,tirstauc. ,F
TINS &C, hey ought to take effect, the SAID c,r-
'ofSloi shai! not, Tor that Cause, be deem, 10
be dissolved but 1t shall be lawful al auv other
| inn To make such appontm nus, and to h,.d
Such elections, Gas the case may b.. and The
IN 'Hher ot holding the cleo ions sh al be l,atl.
lated ny the laws and ordinances o, the sld cor.
po"atIon and until such appointments or electi.
ohS DC made, The directors and pre- dent OF he
sad bank, Tor the time being shall commune in
Office: INA brOUaedalSo that in case of the death
the resignation or The removal Of he pres dent Of
said corporation the directors shall proceed To e.
iect mother president from the directors AS afjre.
SAID and IN case of the DEATH res yn 4tun or alb.
sehce rom the United States, or removal of a
director from office, The vacancy shall be sun.
Piled by tue President OF he United states. or bv
the siOckn. ders, as the case NAV be ia. The
PRESIDENT OF he Unie1 State, a'one shall have
power to remove any ofthe dircct tors appointed
by linn as aforesaid
Sec 9. .d'id be IL further enacted That as soon
as the sum Il eight IN II ons four hundred thou.
sand dollars in gold and suver com, ard in the
pub debt shall have been actually received on
acc unit OF The subscriptions to the can. 4 uftLe
81 bank CexcIus vely Of the sub,c?,D iol af,re-
sad, On the part of the United sia,es) nouc.
t'e cot sh 81 be gwen by he persons undl whose
superintendent he subscr =, ions shall have
been made at tile cl.y of Ph elphia u. at least
two newspapers prln ed in each OF tnc place If
SO many be printed IN such places resuec.IyelvO
W ere subscriptions shall have been made and me
sa q pe 'no .ialI Il the same time and IN ke
IN inner, notify time and place within The ,ad
c yOf i'h lddei phia, al he distance OF AT Last
tmry days from the time OF such not .fica,,un.
Tor proceeding he election Of twenty drea.
t'rs as atore-ad, d i shall be lawful Tor such
election 70 be tncd and there male And the
Presden; OF the L. ted Statcss;s hcreb. author
lSed during the Presenr ION Of CoDgqs,, 10
n1mma'e, AID by and with he advice aud con.
sent "f the SeHare % appoint five dlrec rsoftLe
sad bank, though not stockholders, any thing IN
the provisions ofths act 10 the CO.. RAY O.wI til.
sanding and the persons who shall be e.cc Cd
and appointed as af,resad shall be the first di-
rectors of the said bank, aud Ina proceed I'D G..
leci one of the directors 90 be dent IF he
said bank and lie dTec ors and Dresden Il
the SAID D INK app ed and elected Us afore
a, shall b capable VI serving IN the.rrespecS
i've Offices by virtue thereof until ,hc end ard
expiration of the first Mind OF t.a month of
January next ensuing the sad appp,u 10 u.s and
elections and they shall, then, and lleuceDrth
commence and continue the operations Of tle
said bank at Philadelphia
sec. 10. .4Hd be IL FURTHER enacted That tire
drec orS for the time beng su.i, have power 10
apron, such officers, clerks and servants under
them as shall he necessary tor executing the bu-
s"ess OF the SAID corpora. or, and To- allow .hsrn
such compensation for ther services SO, zee .ly.ty
as shall be reasonable and shall be csYapis II
exercising such other powers aud AUTHORIZES .sr
The well gl'ernng and ordering OF he officers
ot he sait corporation as shal be Prescribed,
fixed and determi cd by the laws, regulation,
and ord nances 1.-THE same
Sect IL int be 10 further enacted. That ths1a
following rules, restrictions, limitations, anG pS