Alexandria gazette & daily advertiser. [volume] (Alexandria [Va.]) 1817-1822, 1821-03-13

passed the twenty eighth day OF December,
one thousand seven hundred and ninety
three, be, and the same is hereby, repeal
ed and annulIed: Provided, That the said
fourteenth section shall remain in full force
and effect in relation to all debts contracted
with the said Bank previous to tbs passing
of this act.
Sec. 8. find be tt further enacted, That
it shall be lawful for the Central Bank OF
Georgetown and Washington TO proceed
forthwith, to liquidate and close all the
concerns of the corporation. and alter pay
ing and satisfying the debts, contracts, and
obligations, of the corpation, to divide the
capital and profits whh h may remain, a
mong the stockholders, in proportion to
their respective interests; and for this Pur-
pose, and for no other intent or purpose
Whatever. all the necessary powers, as full
y as they are now enjoyed by the said corr
poration, shall be, and the same are hereby,
continued to the said corporation, for the
term OF FIVE years from the first day OF ia.
nuary next, and no longer.
Sec. 10. yAndbe It further enacted, That
il shall and may be lawful for the stockhol-
ders of the Central Bank Of Georgetown
and Washington aforesaid, at their next an
nual meeting for the election of directors.
to reduce the board of directors for the said
Central Bank. to any number not less than
six.
Sec. II. find be ii further enacted, That
the corporation of the Bank Of Potomac
be, and the same is hereby, continued and
extended to the third day Of March, in the
year of our Lord one thousand eight hun
drec and thirty.six, during which tine il
shall hold and be possessed OF all the rights,
privileges, and immunities, now secured to
it by an act passed on the sixteenth day Of
February, one thousand eight hundred and
eleven, entitle d "An act to incorporate the
Bank of Potomac" and shall be subj ect 10
all the restraints and limitations expressed
in the said act, except so far as the same
shall be altered by any provisions here inat.
ter contained.
Sec. IL. And be il further enacted, That
an election for directors Of the Bank of Pc.
tomac shall be held in the town of Alexan.
dria ON the LIST Monday in Nov.i. each year,
of which notice shall be given in one or
more newspapers published in said town,
for four weeks at least before the day of E.
lection, and the stockholders shall choose
by a majority of votes, from amongst the
stockholders, thirteen directors, for the term
OF one year thereafter, and, on resignation |
disqualification, or removal, of any drec-
tor out Of the county of Alexandra, or out
Of the county of Fairfax, in Virginia, the |
other directors, al their next meeting there.
after, may elect by ballot another person;
qualified as Aforesaid, in bis place, tor the
residue Of the year. The directors of said
bank shall, at the first meeting after every
general election, elect, by ballot. from a.
mong their own number, by majority Of
their whole number, a president; and in
case Of bis death, resignation, or removal
out Of the county of Alexandra, or out of
the county Of Fairfax, or OF bis refusal TO
accept his Office, the directors shall meet as
soon as conveniently can be therea fter, and
elect another person as president, in the
manner before described.
Sec.'ls. find be it further enacted, |
Tia: every stakeholder of the Bank of
Potomac, being citizen of the United
States, shall be entitled to vote at all
elections to be holden by the stockhoi. |
ders Of said Bank, in pursuance of this
act, and shall have as many votes in
proportion to the stock he may hold, as
follows, that is to say: For every share. |
from one to twenty, one vote; for each
share, from twenty to fifty shares. one
vote for two share s; from fifty to one
hundred. one vote for four shares; a.
boye one hundred shares, one vote for
six shares: Provided, That no share,
or number of shares, pledged to the
said Bank as security for any debt due.
or to become due to it, shall be consider.
ed as comforting any right to vote at
the said elections.
Sec. IA. .and be it further enacted, |
That it shall be lawful for the President
OF the Union Bank of Alexandra. at
any time before the first day of April
next, with the consent of majority in
interest Of the stock holders thereof. to