Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1891-03-31

L. L 1SNLS,
Charter Of The Alexandria Manufacturing
and Loan Association
To THE HON. j. & NJ. NORTON, JUDGE, &C.:
Articles of Incorporation.
The undersigned, desiring to obtain charter
of INCORPORATION under section 114o OF the Code
of Virginia of S97, and 3 aneudatory thereof.
cate in writing:
The Name Of the Company.
The psms OF the company shall be "Alexandria
Manufac turing and Loan Association"
The Pup CSC for whtch Formed and the Chief BUSINESS
ID be Transacted.
Tho Dur poses for which the company Is formed
and the chief bus:ne;s to bs trsnssc ed by it are
to encou rage aud to assist trade III manufacturing
and improvements in the city Of Alexandria, Vs.,
by losning money on property to lndiTi1usls:
companies or corporations engaged in any legal
enterprise in said city, or taking an interest, Pc
cunisry otherwise, in any such trace, manuiac
tory, improvement or enterprise in said city, and
sharing in the profits thereof; and to invest LIE
moneys in real and personal property Of all Kinds
and desc iption and to improve any properly IL
purchases or invests in, and for such purposes
erect and maintain sll necessary things nipple
ments buildings and machinery and to sell anu
trade manu- factory, improvement, enterprise and
property SO invested in, purchased or improved,
st such times, in such manner and upon such
terms as it may deem expedient and not neon
sistent with any provision contslned herein ana
tho said company shsll have the right to loan Its
moneys and secure the Same by the deposit OF COL
aterss, or deed of trust, or other wise, and to
borrow money and give its bonds or notes IN evil
dence thereof; and may secure debt due or money
bo. rowsd by it by deed Of trust or otherwise, as
it may s,e fit. Said company may join and unite
With any individuals, association, company or
corporation in the prosecution OF any trade, man
ufactory, improvement and enterprise, in such
manner As 1t may DESIRE except by subscribing to
the capital stock in another corporation. The
said comp ny shall have common sesl, and may
change the same at pleasure.
The Capital Stock and its Dip:sion Into Shares.
The capital stock of said company shall not be
less than twenty-five Thousand dollars and shall
not exceed fl We hundred thousand dollars, divided
into shares of 500 each.
Payment Stock, Arrears.
Payment on stock shall be made as flows; viz:
ST. per share upon the orgsniz ition OF the com.
pany, under this charter, aud $1 per share on the
first Monday in each month Until The full amount
Of each share is paid up. Should any stockhold-
or fail to pay any assessment or assessments per
month, as sforesaid, within sixty days after she
SINE are due. or though not in arrear, should
any Bt0CKl0Q6r 30 OeSlTc, Inc 6Oaru OIL DlIeCtOIb
msy redeem the stock OF the stockhoder 30 in ar
rear, or so desiring, at the value fixed upon tho
same by the Board of Directors; provided, such
stakeholder agrees thereto by surrendering hi,
stock to the Board Of Directors, endorsed, For
value received 1 hereby surrender this share Tor
these sharesl Of stock to the Alexandria Manu-
featuring and Loan Association"
Should said stakeholder so in srrear fail 10 sur.
render his stock to the company, as Aforesaid,
within ten days after notice OF the value fixed
thereon by tho Board Of Directors, or should the
Board OF Directors deem it inadyisable to redeem
at value fixed as aforesaid, then such shsr.s Of
stock upon which thore are arrears may be sold at
public suction for ready money after notice in
newspaper for one month of the time and place Of
sale and transferred to the purchaser, and out Of
the proceeds OF such sale there shall be paid the
expenses and charges and the money which ought
to have been paid upon the said shares, with ia
terost IN reon, and the surplus shall be paid to
the delinquent or his representatives.
The Board OF Directors may issue new shares in
the place and stead Of redeemed cancelled stock
or may allow such shares to be transferred on the
books to the new holder, and allow him or her
to stand in the place and stead OF the old holder
The Board of Directors msy, in their discro-
ton, allow the monthly assessments Of ST. per
share to be sniicip ated and the whole amount Of
500 to be paid at time, and issue fully paid
up shares of stock therefor, or they may allow q
portion of the monthly assessments to be antici-
psted, giving in either proper credits on the
books Of the company. But profits can only be
estimated and declared ss they would be il the
payments had been made monthly. The Board Of
Directors may receive in payment Of stock, prop
or Of any kind or services. The Board Of Di.
rectors may issue and dispose of stock at any time
during the continuance OF the company, either in
fully psiiup shares or upon the assessment plan,
as aforesaid provided, the maximum amount of
stock named herein be not exceeded but holders
IF dtne ad ftar fhn nf tnrHo hall
only shsre in the PROFITS upon investments made
after such subsequent issue OF stock, and not in
any profits from prior investments.
Transfer of Stock, Cancellation Reissue.
Stock shall be transferred on the books OF the
company when presented to the secretary, duly
assigned but no stakeholder indebted to the COM
psny for any assessment or otherwise shsll he
permitted to transfer his or her stock or to re-
ceive any dividend thereon until such indebted
ross be paid or secured to the satisfaction Of tho
Board of Directors.
Stock redeemed or surrendere1 to the Board of
Directors, aforesaid, may be sold or reissued to
new hold ors, who shall thereafter stand in the
place and stead OF the former holder, or may be
cancelled, and, If cancelled, new share Of stock
may DO Issued in its stead.
Real Estate Proposed 10 be Held.
The real estate to b, held by the Company shall
not exceed one hundred thousand acres at one
tine.
Officers cfhe Company for The First Year. Vacaneies
The officers OF the company who for the hrst
are to manage its affairs are:
President,
Vice President.
Secretary and Treasurer,
Board Of Directors,
Auditing Committee.
All the officers shall bo stockholders, and shall
hold their otfics for ono year, or until their suc
cossor shall have been duly elected and qualified.
The President and Vce-President shall be- and
the Secretary and Treasurer may be also members
OF the Beard of Directors. The members OF the
auditing committee shall hold no other ofics.
Vacancies in any office shall be filed by the
Board OF Directors, and such sppointee shall hold
Office for the unexpired term OF the person whose