Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1833-06-18

ing the expedency OF exercising the power thus grant.
cd The number OF votes given by private Stockholders
votes agains, the subscription given by private Stockholm
cfs, was lOi making in all 2ll6.
BY an act Of the General Assembly passed on the i7h
o February. 1880, uf,her 10 extend the charter OF the
Bank OF Virginia, anf for other pnrpo.cs is declared
that i'm oil meetings Of the Stockholders, the Treasurer
OF the Commonwealth, such other person persons
shall be appointed from time n,c represent the in
teest Of the Commonwealth, in the said Bank BY or
der any law which shall be for the purpose shah
upon erey question: ether than Ire JppOnfnfnfn f d.
rcctors hare cote roCs equal 10 iri If az he
rotes giren in The meeting upon sreh question"
Its clear, from the above quotation tia, the number of
votes given by the Treasurer at general meeting
Stockholders 'npon every question, other than The ep
pon'ment OF Directors, must necessarily be conng.n,;
~ the act requires. that his vote shall tc equal
hrd Of GH The rOes gise" ia The meeting upon such
question"
was then correctly determined at the meeting above
mentioned, that the number Of votes which the State
was entitled was the one half o ZIG, 1855 These
sums added together make 3l7i, the whole number OF
votes given IN the m-eting Che third OF which il
looS III now we add the vote OF The Treasurer 05S to
the Affirmative votes OF the other stockholders (2O20 we
shall have 80 ~ the whole number v votes given in f
volr OF the subscription.
Let us now enquire, whether 1910 affirmative
votes, express such assent OF the stockholders The
subscription for 5000 shares OF the stock Of the James Ri
yer and Kanawha Company, as is required on the Iap
For the purpose OF enabling decide this quesiiou
we must TO the act OF the General Assembly passed
on the 10Th OF February 1883, under which The mce ting
was called That art, after giving ull power and autho
iiy 10 the President and Directors of the Bank "hy and
WIN the ASSENT oil the Stockholders 'uly
raj meeting to make the subscriptions, declares that
no such assent shall be rniid, unless majority of az the
votes which the Stockholders for the time being at the
sar' Bank may iocfuHy gce, shall concur therein -
Now, let us see wha, the whole number OF votes
which the Stockholders "for the time being" cond .iaw.
fully" have given We are Informed (sec Enquirer Of
June ih that the whole number OF which could
have heeu given hy Stockholders, other than ihc State
1893
In the accoun, published cf the transactions Of the
Stockholders we find that Tor the purpose OF acerainng
The ~hoie number Of votes which could he "lawtuNy"
given by all the Stockholders ''ior the time being lcd-
ing the State, they added 1893 to the number OF vote.
green 6y the Treasurer at the meeting 10 wi', 1863;
which last sum considerably less than enc fourih OF
the number that could have been CLAW ully' piven nv
the Stockholders other than the State. This was mani-
testify an error have searched in vain the law the
charter for any principle which this calculation could
he made. (See note IL 1893 votes could have been
"awiul'y' given by the Stockholders other than the
State, statement which it is presumed will not he con-
uoVrren') i"ows as necessary consequence, that the
one hall oil 1893, or 2296 the number votes which
could have been "lawiuy" given by the Treasurer OF,
tho part OF The Commonwealth These sums added oge.
Their make $3.50 the tchOie number OF votes which could
have been "lawiully given by all the stor
the time heing,' including the State.
Hence III clear that majority of all the votes which
the stockholders for the time being" could lawiullx'
have given, was not less than 3ii5.
The whole number Of affirmative votes given a. the
meeting was before stated 1910 being 375 less than
The act OF The 10Th February 1888 requires necessary
to make the Assem-, of the stockholders rod" The con-
ciuson is inevitable that the subscription made by the
Bank Tor 6OO0 shares OF the stock of the james River and
kanaw ha Company, ought to be considered as nullity
1t he objected that there is absurity in counting
le reairers vote at 1896 i'm case, at 1858 in
another, may he REPLIED that the absuri,v If indeed
Mere De any rests with the of the General Assembly
which, by making the Treasurers dependent upon
e number oil votes given at all meetings by the other
stockholders his 10 he ucnaing and uncertain
as theirs upon every question, other the appoint.
meni OF Directors. remarkable instance of this
red in the proceedings Of The late meeting On one aes
ton The votes OF the private stockholders to Gig
which made the freasurers 1868. On Mr.. Leigh,
substitute The yes we are informed, l39, the noes
been small, cn MIR. Ieighs substitute compared with
wha,i was before. Yet was relorey strong in the
one case as was IN the other. ARATOR.
NorE-1hn important points Of enquiry are:
First What tho number which the private sock
holders entitled
| ofiho Treasurer. - -" ''~ wv
evident, that this superstition required act Of tho Go
neral Assembly otherwise 1t would lac impossible
majority of all IN,
! the time being could have ialefuiiy given"