v%^ Wrfy^ IMAGE EVALUATION TEST TARGET (MT-3) 1.0 1.1 m . 1.25 1 u III 1-6 e- •■ ■ - < 6" — ► ^' Hiotographic Sdences Corporation 23 iVRST MAiN STRHT WiUSTM.N.Y. 14SM (7KS) ^72U!»03 •<^ CIHM/rCMH Microfiche Series. CIHM/iCMH Collection de microfiches. Canadian Institute for Historical Microreproductions / Institut Canadian de microreproductions historiques I Technical and Bibliographic Notas/Notat tachniquaa at bibliographiquaa The Institute has attempted to obtain the best original copy available for filming. 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" it, i jill to whom ih?:e Presents shall Come ; If^E it known and made manifest, that we, the Sub- JL^ scribers, have formed an Association or limited Co' partnership, and do hereby agree with each other^ to con- duct Banking Business in the manner hereinafter specified mnd described J by and under the name or style of » Cjje iWontreal Banfe; And we do hereby mutually covenant, declare and agree, that the following are and shall be the fundamental Arti- cles of this our Association and Agreement with each other^ by which we, and all persons who at any time hereafter may transact business with the said Coinpanyj shall be i9und and regulated, A First ll ( 2 ) First. — The Capital Stock of the said Ccmpany shall not exceed Two Hundred and Fifty Thoueand Pounds current money of this Province, divided into rive thou- sand shares of Fifty pounds each ; and fcr the purpose of raising the said Capital Stock, a book of Subscription shall be opened in this City after thirty days previous notice in at least four of the Proviacial Ne«rspapers,un« derthc superintendance of John Richardson, George Garden, George Moffatt, Thomas Andrew Turner, Robert Armour, James Leslie, Horatio Gates, John C. Bush, and Austin Cuvillier, or any throe of them ; and to continue open under their jiuperintendance, until there shall have been an electiou of Directors, as herein af* ter provided, which book shall be headed with the pre- sent articles of Co-partnership or agreement, and snal| /continue open until the whole of the said capital stock shall have been subscribed. Every person or persons, co-partnership, body politic or corporate, who may or shall become members of this Association, may sub- scribe for such and so many shares, as he, she, or they shall think fit, not howevei exceeding, in the first ins- tance, twenty shares; and it is hereby agreed, it'ounted at the Bank, until twenty Hvo thousand pounds in g(dd or silver, shall be actually paid in, and received «n account of the subscriptions to the s;dd capital slock. T/iird — For the gocd uiina^eioent of liie allairs of the said Associciti^'n or Coriipan\,tli( ittni iiivM be removed lor mal-adaiinitiratiun before iheey.piraiion of ifcai period by a geneial meeting ni fctockholdns, or unless ju^penried, as hereinafter pro* vide(i) and at their first iceeting after tuch election, ihall chopsi) cut of their r.umber, a President and Vice rresitiiiit, and their plactfc respectively, from time to t!n:c, till i'[» wlieu vuciint by death, reiigr.aticn,,,ulteuc« iiMTi the Pn.vincc, cr removal, as aboveeaid. la rase of death, rcKignaiioB, ahteiice frcm tbe Province for three months at a time, or tbe reicovulofa l>irectur by the stockholders, his place, in case of bticb removal^ shall be filled up by the said stockholders, and m tba other cases, by the reiaaintng Directors, or a majority of tbem, to serve, however, only until the succeeding gecerul meeting as abovesRid. Fourth. — Tbe Directors for the time being, shall have po^^er to appoint such officers, clerks, and ser- vants under them, as shall be necessary for executing the busince& of the said Company, aiid to allow theai £uch compensation for their services respectively, as shall be reasonable and proper ; all which, together with the eii^ences of building, house-rent, and all other contingencies, shall be defrayed, out of the funds of the said Company. The said Directors shall likewise be capable of exercising such other powers and authorities for the well regulating and ordering of the affairs of the said Company, as ^hall be prescribed by the bye-lsiws and regulations thereof. Fifth. — Itisfuitber convenanted and agreed upoa by and between the parties to this agreement, that if the said capital stock of two hundred and fifty thousand poiinds, is not subscribed wiihin three months after tbe said book of subscription shall have been opened, then and in such case it may be competent for any former subscriber oraubscribers, to increase bi8| herior their sub- scriptions ( 5- y ieripti(inttorort3rtBarei;tiidiftl9eafommidc«pitalitofk is mot Bubscribed within four months after the said Book of lubecriptioa shall have been opened, then, and in inch case, the dsficiency may be subscribed for by a- ■y parson or persons, body politic, or corporate, but they shall not be permitted respectively to hold more than fifty shares in the whole, unless the same be ac« quired by pnrcbase, after the said Bank shall have commenced its operation. Statk.^U is ftcreb^ e^cpreasly and explicitly declared, to be the object and mtention of the persons who asso^ ciate themselves under the style or firm of Tke Mon* {real Bank, that the joint stock or property of the said Company (excluiive of dividends to be made in the mtbner hereinafter mentioned) shall alone be responsible l«Hr tise debts and engagomenta of the said Company. And that no person, who shall or may deal with this Company, or to whom they shall or may become in any wi^ indebted, shall on any pretence whavever, have reconne against the separate property of any present or future member of this Company, or against their, persons, farther than may be necessary to secure the faithful applicatidn of the fundi thereof, to the purposes to which by these preWnts they are liable. But all persons accepting any bond, bill, note, or other con- tract of ibis Company, signed by the Preudent or Vice President, and counttrsigned or aitesled by tba Cashier of the Company, for the time being, or dealing with it in any other manner whatsoever, thereby res- pectively givecred7t to the said joint stock or proper* ty of the said Company, and thereby respectively dis* avow having recourse, on any pretence whatever, to thf peraonorseperate property of any present or future member of this Company, except as above mentioned. And all suits to be brought against this Company (if a- Btr shall be) shall be brought against tba President for ..M-m - A 3 the f; II u ( 5 ) time being : and in case of his death or removal from o/lice, pending any buit aguinst hiai» nseasurei ihall be taken at the er pence of the Company, for substituting his successor in o^ce us a defendant ; so that persona having demands upi^n the Company, may oot be pre- judiced or delaycre8aid, shall be conclusive upon the Com* pan^, so far as to render the Company's said joint stuck or property liable thereby, and no further ; and, the Company shall immediately pay the amount of sach re* covery out of their joint stock, but not otherwise. And in case of any suit at law, the Precrdent for th« time, being shall have full power in his own name, and on behalf of the Company, te prosecute to judgement and execution in the manner and form, as by the laws of ihis Province it is provided ; it being expressly under- stood and df dared, that all persoji;^ dealing with the said Company, agree to these. terms, and are to be bound thertby. Seventh. — These :;rticle8 of cgrecment shall be pu. blisbetJ in atleast unecf the Newspapers printed ia ihe Cities of Quebec and Montreal for three months, and for the infoimation of all perscns who may transact business with, or in any manner give credit to this Company, every bond, bill, note, or other instrument or contract, by the effect or terms of which, the Company nay be Charged or held liable, for tht payment of mo- ney, shall specially declare, \u such form as the Board of Directors shall prescribe, Ma^ payment shall be made 6ut 0^' the joint funds of this Company , according to the preteut artufes •J msQei((tkny and not othet^uise ; and a copy ef the sixth article of thie Association, shall be jn- ' - • ttTVtd serted in Oit Rank Book of evt ry pe; di^Lt, his place «hall be hlled up by the remaining Di- rectors, to serve during the time of such suspension, i'otir^effnM.— Every Cashier and Clerk of theUank, before he enters upon the duties of his office, shiiU give bond, with two or more sureties, tu the S8*'9f&ction of the DirectoiTtf ; that is to say, every Cashier iu a sum net iesb thaii five thooband pounds, with condition for his good and faithful behaviour ; and every clerk with like condition, and stj^reties, lu such sum as the i)irec« tors *. i !■•! (It) V ' tort tfhftll coniidcr adequate to the tnut to be reposed iofaim. £iJ}eenih.-^Th9 Compaay tfaall not hold any laodt and tenementi, but lucb as may be necessary for thi transaction and accommodation of the bosioess of the Bank, i|nd foroo otber purpose : It tb&H nevertheless he competent for the Directors^ on behalf of th6 Cooi* pany, to take and bold mortgages on property, by way of additional security for debts contracted with the Said Company in the course o' its dealings ; but on no ac* count shall- money be lent upon moclgagej off upon • lands and otfier ftked pro^rerty, nor such be purchased^ ^v4hc Company upon any pretext, except in tbe spe-^ cial caBe above recited. . ^: Siisteaiih'^fhe tothl tmfni]!^ of the ll^ts- "tlhieh fl^> Goropan> eliallatany time owe, whether by bond, btH, ornoie, or other contract whatsoever, shall not exceed treble the amount of the capital stock sictuxlty paid in, (over and above a s'jm ec^ualun amount to scch mo-^ ney, a6.may be deposited in the Bank for safe keeping) fiuid in ease of excess, the Directois, under whose udmi* mstratibnitshall happen, shall be liable for the same',, in their natural and private capacities, but it shall not < extmptthe Com^t-dny or the lands, tenements, goods, oir chattels thereof, from br^ing also liable for such excess ; such Directors, howe /er, as shall havs been absent when ' the said exrss: yta^ contracted, or shall have entered their protest agCompany0 which may exceed in amouut the remaining stock belonging to such penon or persons ; and in no c^Me shall any fractional part of a share, or other than a complete shace or shares, be assignable or transfer- able. And it is hereby ihrther exprtstly agrend and declared, that any atockholder, who shsll transfer in manner aforesaid, all his stock or shares ip this Com** jiany, toany oiher person j>r persons whatever, shall ipso facto cease to i>e a member of this Company, and tlia.t any, p«r8o»4»r. pccsooa. wbiOcrver, whp shall occept A transfer of any stock or share in this Company, shall ipso facto become and be a member of this Company, accoiding to these articles of association. ^ Mightetpth^-^AW bills, bonds, notes, and every con- tract and engagcmept, on behalf of the Company, sbal} be signed by the President or Vice President; and cnuu'^ tersigned or attested by the Cashier of the Company ; and the funds of the Omipany shall in no case be held responsible for any contract or .engagement wbatevser, unless the same shall be so signed and countersigned, or attested as aforesaid. Nineteenth — ^1 he books, papers, correspondence, and funda of the Company, shall at all times be subject to the insp^tion of the Directors, but no stockholder not ^Director, shall inspect the account of any individual or individuals, with the Company. Twentieth, — Half yearly dividends shall be made of sopiuchofthe profits of the Cooipany, as shall appear to the Directors adviseable, and shall be payable at such place or |)lace8 as the Directors shall appoint, of which they shall give public potice in at least twi» ^ewf*papers published injthitCjtyiat leaa$.tbirty days , before $ I. ( 13 ) r ./ ! till I before ; and the Directors shall every year, at the ge- neral meeting) for election thereof, lay before thestock* holdeis, for their 'information, an exact and particular statement of the amount of the debts due. to, and by the Company, specifying the amount of Bank Notes then \u circulation, and the amount of such debts as io their opinion are bad, or doubtful ; as also stating the surplus or proBt, if ^ny remaining, after deduction of losses and provisions for dividends. Provided that the rendering of such statements shall not extend, to give any right to the storiibolders not Directors, to inspect the account of any individual or individuals with the Company. Twenty first* — If there shall be a failure in payment of any partofthesumor shares subscribed by any per* son or pe;8(m9, co* partnership, body politic or corpo- rate, the party ftviling in paying the first instalment Of ten per ttntum, succeeding the deposit of five per centum herein before required to be made at the time of sub- ecribiog, shall respectively forfeit the said deposit to and for the use of the said Company, and the stocit shall be sold ut public sale, £i>r the behoof of the Company, and on failure of paying the other instalments, or any of theoa, the party or parties failing therein, shall forfeit the original deposit of five per centum^ and the ^divi- dendSvUnpaid prior to the time for making such pay* Bent, and during the delay of the same. Twenty Second.— The saiii Company shall uot di« rectly or indirectly dual in any thing, excepting Bills of LLxchange, gold or silver Bullion, or in the sale of Goods really and truly pledged for money lent, and not redeemed in due time, or in the sale of stock pledged for money bnt, and not so redeemed, which said goods and stock so pledged, and not so redeemed, shall be sold by the said Company, at public sale, at any time not less than ten days after the period for redemp^n; and 4f upon such sale of goods or stock, there shall be a sur- plus, tioge- itock* icular Id by Notes as ia ig the ion of at the ( »3 plus, after deducting the expences of sale, over the pay- ment of the money lent, such surplus shall be paid to the proprietors thereof respectively. Twenty Third, — The board of Directors are hereby fully empowered to make such other bye laws and re- gulations, for the government of the aifaiis of the Com- pany, and that of their officers and servants, as they, or a majority of them shall from time to time think ex- pedient, not inconsistent with law, or these articles of AssociatioD. Twenty Tour/A.— This Association shall continue an- til the first day of January, one thousand eight hun- dred and thirty eight, and no longer ; but the pro- prietors of two thirdft of the capital stock of the Com* pany, may by their concurring votes, at a general meet- ing t> be called for that express purpose, revise or alter these ardcles, or any of them, or dissolve the Company at any prior period, provided that notice of such meet- ing, and of its object, shall be published in all the Provincial News papers for six months previous to t^e time appointed tor such .meeting ; and provided also, that no revision or alteration of these articles shall subject any stockholder or steckholders to be bound bo- yond the amount of his, her, or their stock. Ti(;en^y'i2/'M.-^Immediately on any dissolotion of this Association, effectual measures shall be taken by the Directors then existing, for closing all the concerns of the Company, and for dividing the capital and pro- fits, rSichmay remain among the stockholders, in pro- portion to their respective interests. In witness whereof, we have hereunto set tur names MoDtreri. ^3 ^ 3 Q uiuo