Western Sun, Volume 5, Number 1, Vincennes, Knox County, 9 January 1813 — Page 1

I LAI ITI PKCULIAB. M 'UK. CK DOtKG BUSINESS, AND MlN CUIDKD MORK BY CUSTOM THAN BY K.KASON, FOLLOW WITHOUT L 'iav, t h b Manners wmca auk peetalemt in thkir own Time. Bum.

SATURDAY, JANUARY 9, isn.

NO. . J

THE WESTERN SUN,

IS printed weekly at TWO DOLLARS per annum, paid in advance or an attested

NOTE, payable at the end of the year for TWO DOLLARS & FIFTY CENTS

tcriptt i

Oe received fcr a - - i ui rt Htf

antinutd tniil ail jr. ttragts

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CfntS for tvarj 7o avoid unpleasant tumid . Ad Wthh t . V j . i '' s p'i

4T(:r.: irr.V I .. directions wiii and must t ( Tir.t. Letters tJ Vj cut c: . r

LAWS , Fthc U. STAi ES.

(By Ant!:

)

.1 t

t j incorporate a Bank in the

town of rUexendrii, by the name A ftyle

of t'ie Bank of Uexandrit BE il enacted i. the Sen te and ffoute ef Ripttser.tjtrves cf the United States t if fuofcribers to the Mechanics B.Uik ol Alexandria, their luceeffortct affigns, (hall b-, and they are hereby treated and tnudea boi y politic, by the nai it an i Itj It rl the 'lei bancs' Bank ol Alexandria, n J that Name and fu'c fhall tit at I srt ntreb) mid? ah!? and capable in lawi to v-. parjbafe, rffccic, poflefa, fnjcy and r,t,ij!i to

thrm aivl their lucceuors, lanoi reditametitSi roods, ehatteli an vhtt kir.t?, nature or qu v ! fame lo fell, irrant, deuiitV. i

cf, to r,.'C aid !? - .

pj tlicMs, 01 v cr , atiJ t Ite n or ioi t md be . lea-

dcd. aniwer a..d be anfwered, tl fend and be

defended, in c uf,s of record, or any ot!:t-r tilace wharevn, I V set neverthelefa to the tnits, regulations reftriAions, limitation! and provifioni herehisfter prekribed and declared.

Sec. I And ce . r

i.ii vide i

John Cohagen, James McGuire, Adam

,s Milk Snitt, J ole j h IJcao, j::tn-s

Sandeifon, JFohn Young, luac Entwiftle,

Robert soungi iVte r b luudti.. a:ia iim v. ,a, a;e litirly .' ;..'.cJ v i unimoneri .- that ptirpofe, Which fuhferiptioni ftialj be kepi open lor one tiuy ut icait and uii li r . . r i.l (jl-.. . . A I

i Tiiu'f wive -s iuiu coniinuiionc reft ; in cafe the amount fcripii Hi r ihr.ll e:ared tlx i ji

herein uetore allowed la be fublcrifred, the rxccfj thus created (bill be reduced within fht number of lharea authorifed to be i'nb fcribed as at refnid in the manner following to wit, thatU to fay s from the fubferipti om hierheO in amount tiie comroiflioncrs ih'. lohfii -a. a lliare or turcs until the

Ume be made coaal to the fubfeription or

emulous ncjwt nikhcit m amount, and

intil then umbel ui Ibares (ball tc reduced

to tic Amount aforefiid : Provided iivjajsy That it be hereby etpre fitly under itood, tnat all the fubfcriptioni imvi iliares obtained in confequence thereof, thai! Le u.en:cd unci . i to be t'er the fole and eXcluiWl ul'e be benefit of ths perfons, co-partner Ihtpi or bodies politit fubfertbiug or n whole behalf .. I ' '.ions refpecAivcly (ball be ileclared I i be made at the ti tie of making the fame, auJ aVi bargains, contracts, prouiifea, eemettti asul t igagementa in any wife

' o t',1; ptovuion, Iball be void, fc.

c partners

io iUv)tcriCir ona a I e d.-c

or bou:cs politic

r tor '.iCic uic

red

be made ;ii

torelaid, H.uil i;,iv?( enjoy :nd receive the or fiiares reipeclively in tbulrtyienct thereof obtained, and !i the intertfl unci emi lumen tl thence arising, as trte!y, fully & abfolutely as if they had federally and ref pecTlively paid the confideration therefor, any fucli bargains, contracts, promifes, arreements or engagements to the contrary thereof itotwtthltai ding Sec. 4. And e n further tnaeted That the lands, tenements and hereditaments,

lh il 1 1 lawtul ir tne laid corpoi a. lei, (hall he ouly fuch us Hull be for ts unmcuidte accommodation,

ai relation to the convenient tranlactioi) ot its bufinefa, and fucll as Hull have been c iveycd to it in fatisfactioii ofdeots previouliv contracted in the cnurle ot its deal ings, or pur chafed at falcl on judgments which (hall have been obtained tor fuch debts, nor (ball thia corporation directly or indirectly deal in or trade in any thing ex

cept hills ot exchange, gold or lilver bulla

ons, or in tl

lle o. goods n bich (hall he

laud or ot goods ioiJ by

u ' 01 d n

ei. n I ion on a

judgment ol

the capital flock ol 1 cc confiH of 500,000 loll.u

iliarc often dollars each, and I!. all be pi

an manner toiiott ing, mai it to . v i i ioi Ir on each Baftfi at the t' ne ol ubfciil ing, one dollar on each (bare al . 1 daya am! one dlUroneaeii ili;e St 90 days atter tl tbsst arf fobftribing i rei - dei to be called for a the prt(asltnt a J d rectors re deem rroper i fWoraaW They do not cs for any pa. mi at n lefs than 30 daya, noi for mre than one dollar on each lh:ie at . one time. Sec. 5. dr. i b tt fin the tat J I it tht fuhfcriplio is for frilniv, Up I H1 noi k 111 ill be opened at thi court hotlie I I Ihe t rn rf Alcxandn:, on tf e fi.ii M 1 I I nex:, under the direction t 13 COd mill asJabrt end that John Lonjjden, uliana Veitc!, Ji..a Cm Dencai, Daniel M'Leed,

lorn

Wee it further enacted Tint trdering the affairs ot the faid there (ball be 15 directors,

directors at leafi (hall be practical

mechanics, and not lefs than ten ct fa d di rectora Iball be refideot io the town of AAleESodria, ct whom there Iball be an election on tbeirfl Monday after the fubicrip lion (ball be cloftd, and on the 2J Monday of March, In eacli year thereafter, hy the I i kholdera or proprttors of the capital (lock el the faid corporation, and by a plurality

of votes a duality given ; Provided hovftftrm

I hat the I enamel (ball brll oe oeciareo ele:t.d. altho they (bould n I have the greeted number of votes ) and tbofe who (ball he duly chosen at acy election Iball be t pablt of Icrving is directors by virtue of fuch choice until the end or tNnsratio of the td Monday in March next enfning '.tie liase ef fuch slectioOj and until oihera lhall

be chofen. Ard the faid directors, at their firil meeting after each election fliallcboofc one ct their number as preOdent ; no perfon, a director of aHjthcr bank, or the partner in trade of a director of another bank, (hail be a di.tcAor in this bank : Provided) i hat in cafe it (hould at any time happen, .. at election of directors (hould not be made upon any day when, purluani to this act, '. ought to have been made, the corpou: on !h H not tor that cauf be deemed to be cilfolvcd ; bu: it (ball be lawful cn any Oilur day within 30 days thereaiter to, held ai d make an elcdion of directors in fuch manner as Hull have been regulated by the laws and otdinauces ot laid corporation b c. 6, And be it further enucttd, That no director lhall be entitled to any emolument, unlefl the fame Hull have been allowed by the lloi kholders at a genrrai meeting, out the directors lhall :iuUc luch CompCO fatton to the prelident for his extraoidiuary fervicesatld attendance at the bank as (ball appear to them reafonable Sec. 7. And be it further enacted, That the board ot directors by a majority ot voies (hall make bye laws, determine the manner ot boaiij; bufinefs, and the i oh-sand torins to be purfued, anddifpofc of the money and credit of the bank in luch manner as fliall feem to them bei calculated to promote the inteielt f the ltockholdcrs Sec. 8. And be it further enaitjd, That I majority of the whole number of directors (hall oe neccltary in the thciee ot a piifident. caQlier, and other offlCeraoi the bank, but four members, with the preudeot may conilitute a board for tranfacting the oruinary bufinefs of the bank. bc-e. y. And be it further enacted, That neither thr preHdcnt nor any director (hall he entitled to leceive, on accommodation paper, discounts or lo:m?, exceeding in the whole) 5U00 dollars, renewable, however, fit in time to time, at the dilcrction of the prelident and directors. Sec 1CJ. And be it further enacted, That the prelident and directors for the tune being, (ii.tll have power to appoint fuc officers and fervants under thtm as mny be neceffary for executing the bufinefs of the laid corporation, and to allow them iuth com penfation lor their lerviccs, refpectivcly, as lhall feem reafonablc , and (hall be c.pah!e of exerciiilig inch other powers nd autnorities for the well governing and ordering the dilYirs of the fold corporation, as lhall be defcribed, fixed and determined by the laws regulations, ami ordinances of the lime. bee. 1 1. And be it further enacted hat any director, officer or other petfon, holding any (hare or capital of the faid hank flock, w lio (hall rominit any fraud or embezzlement, touch iug the money or property of faid hank, (hall be liable to he p.ofccuied iu the name of the U. S. by indictment for the Ume, in ny court cf law for the difli i lit or county wherein the t fT nee fhall be Committed, end upon conviction thereof- fliall, be (idea the remedy that may he had by acti n, m the name of the Mechanics1 Bnk of Alexandria! tor the fraud aforesaid, forfeit to the company all his (bare and ftock jti the faid bal k. lec. 12. And be it further cnJCtsd, TV at every II ock holder, being a citiseo ot ihe U. S. IIihII he entitled to vote at all elections to oe Kolden by the flockholders in puriumce oi this ,d, and ihail have as many votes in prop ution to the liock he may he'd. s follows ; tor one Pnaie,one vote, three ihres, two votes ; five lhare?, 3 votes ; above live (hareSj and nut txcccdtng 50, tor cavh Uc

(harer, above five fliares, one vote; Ic upwards of 50 fhares, for each ten ftiares one vote. No fharc or (hares (ball confer a right of iu fir age which fliall not have been regularly transferred on the books of the corporation two months pievious to the clediion, and it (hall be the duty of the callier to make out a lift of the (loc kholders 30 daya previous to an election, for their infpc&ion. And in choice of directors, every itockhcU der (hall vote in peifon, except thole who fliall rellde out ol the town of Alexandria, who may vote either in perfon or by written ballot, by him or her lubferibed with his or her name, and duly acknowledged before a judge of a ccurt, a juflice cf the peace, or a notary public, a certificate whereof fliall be made on faid ballot by the laid judge, juflice of the peace, or notaiy public before whom fuch acknowledgment flYull be made, ard faid ballot flnJI be by him fcalcd up, and iu his hand writing addreiTed to the cafliicr cf the bnk, & being tranfmitted to fhid cafluer, before the time of election of directors, faid ballot fliall be received and counted in the choice of directors. And every flockholder may fell and transfer his flock in the faid b-.nk, or any pait thereof, at his pie a fu re, not being lela than one complete (hare or (hares; the trafisfrr being made in the bank books, in the prt fence, and with the approbation of the propiietor or his lawful attorney. See. 13. And be it further enacted, That no flockholder or member af faid corporation lhall be anfwei ;-ihle for any lolTes, deficiencies; or failure of the capital flock of the laid bank, for any moie or larger fum or lums of money wbatfoever, than the amount of flock, flocks or fhares, which fliall aj pear hy the bo ks of faid corporation, to belong to him at the time or times when furh lofa or toffea fhall be fuflained, except as hereafter excepted, that is to fay : If the total amount of debts which faid company fliall at any time we, whether by bond, note, bill or other contract, fli?ll exceed twice the amount of the faid capital flock of the faid hank, over and above the monies actuallv depofitcd in the bank for fafe keep;ng ; then in cafe of fuch excefs, the directors unrler whole admiuiftratiofl it (hall happen, (hall be liable for fuh excefs in their natural c private capacities, and an action or actiona of drbt may be brought againft them, or any of their heirs, executors or adu i. iterators, in iry ccurt of record within the U. S. by any creditor or creditors ot faid corporation, and may be proferuted to indg. mc!U and ex ution, any condition c; rovenant or agreement to the c ontrary no'wirhflanding ; but this flu'l rot be conflrued tr exempt the la.d body politic, or lands, tenements, goods and chatties of the famr fi rm being alio liable for & chargeable With f id excels : P'ovided, That fuch of the fasti directors who may l ave ben al f nt when fiid exeef. was contracted or created, o who miy have diflented from the rrf lutiori or act whereby the famr was fo contr? ed or cieated may refpectively exonerate tbeaav felveo from betsrsf lb liable, by forthwith piving notkf of the fact, and ( f -heir f bfence or diffent, t ihe (lot kholdera, t general meeting which he or I hey ftnll hive power to call lor that perpofe. And in Cafe tha d:rect(r?, hv whofe act focheXfffi (ball be CKCaGoned, lhll not lave proprrty to p,y the amount of fnrh rxcef. then ear h and every fl..r k holer r liall be liable in their private capacities, for their dectencfesj in proportion to theif rafpe&ivc flu:cs in the a Lank.