Alexandria gazette & daily advertiser. [volume] (Alexandria [Va.]) 1817-1822, 1820-02-14

any dealing contrary 10 the true intent
and meaning of this act, shall be, and the
same are hereby. declared TO be utterly null
and void.
Sec. Ie. And be il further enacted, That,
il any mayor, alderman, common councilman
clerk. or other officer. member, or agent, OF
any such corporation, shall, from and alter
the first day OF January next. issue, or pass
into circulation; any such note, bill. draft, or
other security, hereby prohibited to be is
sued, he, together with every person assent
inc thereto, shall be deemed and taken to
have incurred the penalties of this act, not
withstanding the note ; bill. or other security
so issued, may have been signed, counter
signed, and endorsed before the said hrst day
| of January.
Sect l3. And be il further enacted, That
| if, at any time before the sixteenth day OF
June, eighteen hundred and twenty five, "a
ny number, moi exceeding three, of the banks
| Of Alexandra, the charters OF which are e1-
tended by this act, shall, by their respective
presidents and directors, with consent OF a
! majority in interest OF their respective stock
holders, agree, under written articles Of as
ISOLATION, TO unite and form one bank, with
style and name prescribed 10 tnose articles.
/, the subscribers thereto, and their legal re-
representatives., shall, from the day fixed for
that purpose in the said articles be incorpo-
rated under the style and name set forth in the
articles Aforesaid, and be theDceforth subject
to the rules, duties, regulations, conditions,
/ and impositions, and be vested with the like
rights, privileges, and iinmunities, as Boz
dy corporate. as appertain at present to the
Farmers Bank of Alexandra, to the same
extent in all respects, as if the general pro-
visions of the act tor the incorporation of that
bank were herein expressly repeated and
enacted and subject, moreover, 10 all the
regulations, conditions, and impositions, an
nexed by this act 10 the extension ot the
charter of that bank Provided, That the
bank which may be created in pursuance OF
this section. shall continue until the 10th day
OF June, eighteen hundred and forty, and no
longer; and that the capital stock thereof
shall not exceed the amount. actually paid
in. of the stock of the several banks uniting
to form the same, according to their last re-
port to the Secretary of the Treasury And
provided, moreover. That the aforesaid ari.
Giles ofassociation shall be recorded, within
ten DAYS after their ratification, in the Cir
cult Court of the County of Alexandra. a
certified copy thereof be published within
thirty days thereafter. in some one or more
newspapers printed in the town Of Alexan-
dria, and like copy be filed, within the
same period, in the Office of the Secretary
of the Treasury.
Sec. ID. And be il further enacted, That,
10 like manner, in all respects, and at any
time within the same period, the residue of
the banks Of Alexandria, whose charters are
extended by this act, may, form one other
bank having the same rights, privileges and
immuniies, and subject to the same rules,
regulations, conditions, and impositions, as
the bank authorised by the last section ofthis
act Provided That the capitals of both
banks shall not together exceed in amount
the sum OF two millions of dollars. Should
the capital Of either of the said banks ex.
coed, in amount, one million of dollars, the
president and directors thereof may, of their
own accord, or shall, ifrequired by the pre-
.ident and directors of the other bank, re.
duce its capital, in some equitable mode, to
that amount; and if, when such reduction
shall have been made, the capital of both
banks shall, taken togethes, .lall short oftw
millions of dollars, the bank which has ca
pital of less than one million of dollars shall,
under the direction Of the president and di.
rectors thereof, by new subscription of
stock, augment its capital until the same
shall reach that amount. And the conii.
tional charters, hereby granted to tie banks
aforesaid, shall stand revoked, unless the
conditions last mentioned be complied with
within ninety days after the same shall have
become necessary under the provisions Of
this section.
Sec. Is. And be il further enacted. That
il, at any before the sixteenth day of June.
a., i L 4