The Alexandria herald. [volume] (Alexandria [Va.]) 1811-1826, 1817-03-12
BY AUTHORITY.
AN ACT

ois, and 10 prevent the circulation OF
the notes oil unincorporated associa-
,ioas within the said District.
Coneiudcd.
Sec. IS. ind be i! Jurfhcr enacted,
That the said bank shall no, purchase
or hold lands, tenements, or other real
estate, other Than what may be neces-
sary Tor the convenient transaction Of
It's business, unless such lands, tene-
mehts. and real estates shall have been
bona hide, mortgaged TO the bank BY
way OF security, or conveyed to il in
satisfaction OF debts previously con.
,r-cted IN the course OF dealings, or
purchased to secure debts contracted
with, or due TO the bank and In every
instance In whichthc bauk may become
the owners or claimants of lands, tene.
ments, or realestates, The president and
directors are empowered 10 sci! Or dis.
pose OF the same, In such manner as
they may deem beneficial for the said
bank.
Sec. i6. .EYd be it further enacted,
That IT any vacancy snail, at any time,
happen among the directors by death,
resignation, or otherwise, the rest OF
lhe directors, for the time being, shall
elect director to fill the vacancy e,
Sec. IL. .dnd be is further enacted,
That If any number OF stockholders,
| not less than twenty, who shall pc pro
pretors OF not less than four thousand
shares, may, for any purposes relative,
TO Tie Insitution at any time, apply to
the president and directors 10 call
general meeting of tie stockholders
| an it by them refused, the said mum
1er of stockholders, proprietors Of not
less than the number of shares, afore
sa q, shall have power TO call q general
meeting of the stockholders, giving at
least sixty days notice in two or more
OF the public newspapers OF the Dis
trict, specifying in such notice the OBJ
Jects OF such cali.
Sec. 10. And be IL furtAcr enacted,
That In case IL should al any time hap
pen that an election Of directors should
not be made or any day, when, parsuan,
10 tnIs act, IL ought 10 have been made,
the SAID corporation shall nor for tina,
cause be deemodt 20 he dissolved, but i:
ss"d De awful on any oIder day 10 hold
and make an election OF directors, al
meeting 10 be called in such manner as
shall be prescribed by the laws and or
dinances said corporation.
Sec. 10. End DC it further enacted
rat 1t shall be the duty of the presi-
dent and directors Of the said bank 10
exhibit, ON the First Monday in January
IN each year, or oftener if rcGuiicd,
| statement of the debts, credits, and
funds of the bank to the Secretary Of the
Treasury of the United States, who's
du;y ;: shall also DC 10 state to Congress
immediately thereafter, his opinion as
to the solidiiy of said bank, and the
causes of danger, if any, arising from
the imp oper management thereof
Sec. 30. FAD be il further enacted,
That if the said bank shall at any tim
laii or refuse to pay on demand, any bill,
note, Or obligation issued by said bank,
In lawful currency of the United STATES,
1t required. or shall neglect or refuse
to pay on demand in like currency, il
required, 9Dy moneys received by said
bank on deposit, to the person or per-
SOS titled to receive the same, th,n
and IN such case the holder of any sucn
note, bill, or obligation or the person
Dr persons entitled to demand and re-
ctve such deposit as aforc said shall &c.
sPectlvely be entitled to receive and re
cover interest on the sane at the rate
ut ten per Centum Per a0nam, fIom the
time of demand until the same be fully
paid and satisfied .fnd further, 1t shall
be lawful for Congress forthwith to re.
woke, and declare this charter null and
void
sec. 81. ind be IL further enacted,
That unless the president and directors,
for the lime being, of the said bank, on
the part Of the stockholdcf3, file their
declaration jn writing in The Office OF
the Secretary Of the Treasury, within
thirty days from the time of passing
this act, asserting 20 and accepting the
charter granted by this act, upon the
terms and conditions herein expressed,
this act shalt have no force or effect,
and the charter hereby granted shall be
void.
Sec ~. IND BE- il further enacted,
That If the whole amount of the capital
aforesaid Of said bank, shall not have
becn paid in, on or before the first day
Of January, ~ the year one thousand
eight hundred and nineteen, then the
capital stock shall be limited to the sum
which shall at that time be paid in, and |
he books Of subscription be thence |