Articles of Agreement, 2 January 1837

Art. 3d. It shall be the duty of said  managers, when chosen, to elect from  their number, a Treasurer and Secre tary. It shall be the further duty [of]  said managers to meet in the upper  room of the office of said company, on  the first Mondays of November and  May of each year, at nine 0’clock. A.  M. to inspect the books of said compa ny and transact such other business as  may be deemed necessary.

Art 4th. It shall be the duty of  said managers to choose from among  their number, seven men, who shall  meet in the upper room of said office,  on Tuesday of each week, at 4 0’clock,  P.M. to inquire into and assist in all  matters pertaining to said company.

Art. 5th. Each manager shall re ceive from the company one dollar per  day for his services when called to gether at the annual and semi-annual  meetings. The Treasurer and Secre tary, and the seven, the committee of  the managers, shall receive a compen sation for their services as shall be  agreed by the managers at their semi- annual meetings.

Art. 6th. The first election of man agers, as set forth in the second arti cle, shall take place at the meeting of  the members to adopt this agreement,  who shall hold their office until the  first Monday of November, 1837, un less removed by death or misdemeanor,  and until others are duly elected. Ev ery annual election of managers shall  take place on the first Monday of No vember, of each year. It shall be the  duty of the Treasurer and Secretary of  said company, to receive the votes of  the members by ballot, and declare the  election.

Art. 7th. The books of the compa ny shall be always open for the in spection of the members.

Art. 8th. It shall be the duty of  the managers of the company, to de clare a dividend once in six months;  which dividend shall be apportioned  among the members, according to the  installments by them paid in.

Art. 9. All persons subscribing stock  in said firm, shall pay their first in stallment at the time of subscribing;  and other installments from time to  time, as shall be required by the man agers.

Art. 10. The managers shall give  thirty days notice in some public paper,  printed in this county, previous to an  installment being paid in. All subscri bers residing out of the State

French explored area, 1669. British took possession following French and Indian War, 1763. Ceded to U.S., 1783. First permanent white settlement established, 1788. Partitioned from Northwest Territory and admitted as state, 1803. Bordered by Lake Erie on ...

More Info

, shall be  required to pay in half the amount of  their subscriptions at the time of sub scribing, and the remainder, or such  part thereof, as shall be required at  any time by the managers, after thirty  days notice.

Art. 11th. The Treasurer shall be  empowered to call special meetings of  the managers, whenever he shall deem  it necessary; seperate and aside from  the annual and semi-annual meetings.

Art. 12th. Two thirds of the mana gers shall form a quorum to act at the  semi-annual meetings, and any number  of the seven, the committee of the man agers, with the Treasurer and Secreta ry, or either of them, may form a quo rum to transact business at the weekly  meetings; and in case none of the sev en are present at the weekly meetings,  the Treasurer and Secretary must trans act the business.

Art. 13th. The managers shall have  power to enact such by-laws as they  may deem necessary, from time to  time, providing they do not infringe  upon these Articles of Agreement.

Art. 14th. All notes given by said  society, shall be signed by the Treas urer and Secretary thereof, and we the  individual members of said firm, here by hold ourselves bound for the redemp tion of all such notes.

Art. 15. The notes given for the  benefit of said society, shall be given  to the Treasurer, in the following form:

“Ninety days after date, we jointly  and severally promise to pay A. B. or  order [blank] dollars and [blank] cents, value  received.”

A record of which shall be made in  the books at the time, of the amount,  and by whom given, and when due— and deposited with the files and papers  of said society.