Du Buque visitor. [volume] (Dubuque, Lead Mines, Wisconsin Territory) 1836-1837, 1837-01-11

lappinted commissioners 10 receive the
subscriptions to the said capital stock,
who shall be the first directors and
are authorised to elect their president
from their own number, and to con-
duct every operation Of the institution
until the first election for directors s.
president shall take place, and they
shall give at least sixty days notice Of
the time and place Of opening said sub
Iscription in one or more newspapers
printed in Milwaukee; and the books
for the subscription aforesaid shallcon-
Itinue openfor six days and until the
whole number Of shares are subscrib-
led, and ifthe subscriptions to the said
capital stock shall within six days af-
ter the same arc opened, exceed the a
mount authorised by this section, it
shall be the duty of the directors to de-
duct such excess in a proportional.nan-
ner from the largest number Of shares
subscribed in sucha manner that each
person subscribing. who is citizen Of
this territory, shall be entitled to at
least five shares if he subscribe SO ma
my.
Sec. g. That one tenth Of the amount
of each share shall be paid to the di-
rectors in specie at the time ofsubscrib-
ing, and the balance shall be paid in
such instruments s. at such times as the
directors for the time being may re-
|quire. Provided, that whenever the
payment Of an instalment is required
by the directors, they shall give at
least sixty days notice thereof, in some
newspaper published in the county of
Milwaukee, but no one instalncnt
shall exceed ten dollars on each share,
and in case any stakeholder shall fail
to pay in any or either instament at
the time when the same shall be SO
called for and directed to be paid, the
share or shares upon which such in
stalmcnt shall be so called for and nm
paid at the end of sixty days, and the
whole amount previously paid thereon.
shall be absolutely forfeited to the 9TH
CIR stockholders Of said bank.
Sec. 8. That all such persons SIS
shall become stockholders of said bank
shall be and they arc hereby ordained,
CONSTITUTED and declared 10 be until the
first day Of May. which VIII be in The
year of our lord, one thousand eight
hundred and fifty-scven, body cor
pora'e and polite in fact and in name,
by the name Of the s.president, direct
ors and company Of the bank Of Mill
waukce." and by that name they and
their successors shall and may have
continual succession during the time
aforesaid and shall be persons in law
capable Of suing, and being sued, plea
ding and being impleaded, answering
and being answered unto, defending
and being defended in all courts and
places whatever, and in all manner OF
actions, suits, complaints, matters and
causes whatsoever. and that they and
their successors may have common
seal and may change and alter the
same at their pleasure, and that they
and their successors by the name Of the
president, directors and company Of
the bank Of Milwaukee, shall be in
law capable Of purchasing, holding
and conveying any estate real or per.
sonal for the use Of said corporation ;
/ Provided that it shall not be lawful
for the said corporation to hold real
estate for an amount exceeding one
tenth part of the capital stock actually
paid in, excepting however the bank
ing house and lot necessarily apper-
tanning thereto.
SEC. 4. That the stock, property
affairs and concerns Of the said corpor,
4 poration shall be managed and conduct.
ed by seven directors land the sale
directors shall all be residents and cit
liens Of this territory.) After the ex
piration Of the term Of Office ofthe frs
directors, one Of whom shall be pres
ident, who shall hold their Offices iol
one year, and until others are chosen
and be stockholders, and shall be elect
ed on the first Monday in July onnu
ally, at the banking house of said stock
holders, and public notice shall be CIV
en- in some newspaper printed in Mil
waukcc at least sixty days previous t.
the day Of holding such election, AM
the said election shall be held AM
made by such Of the stockholders Q
!. the said bank as shall attend for tina
purpose either by person or proxy
which proxies shall always be stock
holdcrssand a plurality Of votes sha
be sufficient for choice, and if
should happen at any election that tw
: or more persons shall have an equ;
number Of votes, then the directors
!, Office at the time Of such election or