kingston herrnleen shillings and sixpence per annum if mm by mail tmenfy shillings tfol 13 no 30 1e nec rece nkc populo sed utroquk- i iihl ilicil rvcr saturday hy james inearlane at his otrcc in fiontsircel kingston tj c saturday january 21 1832 an act it hereas the establishment of a bank at kingston in the province of upper canada will ede to the prosperity and advantage of commerce and agriculture in the said province and wnefwthomas marklaod john robert glover david john smith thomas molson john wat- lifts allan mclean george mckenzie alexander w light john marks duncan vanalstine abraeam iruax and others by the petition presented to the legislature have prayedfor the privi lege of being incorporated be it therefore enacted c that the said thomas mwkland john r a major part of them shall em shall appear needful and pioper touching the management and disposition of the stock property estate and effects of the said corporation and touching the duties ami conduct of the officers clerks and servants em ployed therein and all such other matters as appertain to the business of a bank and shall also nave power to appoint as many officers clerfcs and servants for carrying on the said business and with such salaries and allowances as to them tall seem meet provided such rules and regulations be not repugnant to the laws of this province jxil and be it farther qc that the total amount of the debts which the said corporation shall at any time owe whether by bond bill not or other contract over and above the monies then actually deposited in the bank shall not exceed three times the sum of the capital stock subscribed and actually paid into the bank and in case of such excess the directors under whose administra tion it shall happen shall be liable for the sane in their natural and private capacities but this shall not be construed to exempt the said corporation or any estate real or personal which they may robert glover darid john smith thomas molsonjohn watkins allan mclean george mcken- nt alexander w light john marks duncan vanalstine abraham truax and alleuch persons ts hereafter shall become stockholders of the said bank shall be and are hereby orined consti tuted arid declared to be from time to time and until the first day of june which wfllfte in the year of our lord one thousand eight hundred and fiftysix a body corporate and politic m fact and ii name of the president directors and company of the commercial bank of the mitend district upper canada and that by that name they and their successors shall and may have continued sue cession and shall be persons in law capable of suing and being sued pleading and beir implead ztrtll t and being defended in all courts end ehees whatso- dissent to the stockholders at the geneial ineetinichy shall hav- tallfor everjan manner of actions suits complaints matters and causes whatsoever and lhat they and that purpose lutjt 7 a comm01 se and may chan and alter the same at their pleasure and xiii and be it farther c that it shall not be lawful for the said corporation to issue any ltjstftf tsssssz xt r ywi and ll of the h b value of shilling of lawful money of the province of upper canada ss2r i v v upp6r shal1 r v iaw ca rf p mv and be it further fyc that the laeda tenements and hereditaments which it shall be irftyf f u r enal for the use of the said corporation lawful for he said corporation to hold sha he only such as shall be requisite for its immediate ii and be it further fyc rhat a share in the stock of the said bank shall be twentyfive pounds or the equivalent thereof in specie and the number of shares shall not exceed four thousand and that books of subscription shall be opened at the same time in the towns of kingston brockville york niagara hamilton in the district of gore cobourg prescott hallowell perth cornwall belleville sandwich and amherstburgh within two months after the passing of this act by such person or persons and under such regulations as the majority of the said petitioners shall direct iii and be it further rc that it shall be lawful for any person his majestys subjects or foreigners to subscribe for such and so many shares as he she or they may think fit not however exceeding jp the first instance sixty and that the shares respectively subscribed shall be payable in gold or silver that is to say ten per centum to be ready as a deposit at the time of subscribing to i accommodation in relation to the convenient transacting of the business or such as shall have been bona fide mortgaged to it by way of security or conveyed to it in the satisfaction of debts previously contracted in the course of its dealings or purchased at sales upon judgments which shall have been obtained for such debts and further the said corporation shall not directly or indi rectly deal or trade in buying or selling any goods wares or merchandize or commodities what soever i rovided that nothing herein contained shall in any wise be construed to hinder the said corporation from dealing in bonds bills of exchange or promissory notes or in buying or selling bullion gold or silver xv and be it further c that the shares of the capital stock shall be transferable and may v be from time to time transferred by the respective persons so subscribing the same either in person be called for by the directors hereafter to be appointed by virtue of this act as soon as they may or by proxy provided always that such transfer be entered and registered in a book or books to aeen expedient and theremaindershallbepaid in such instalments as a majority of the stockholders be kept for that purpose by the directors atameetinc to be expressly convened for that purpose shall agree upon provided no instalment xvi and be it further c that the shall exceed ten per centum upon the eapftai stock or be called ibr or ilccoimpaulbiinilnwiuinr sixty days after public notice shall have been given in the public newspapers in the town of kings ton and in one or more of the several newspapers published in the several districts of this province to that effect provided always if any stockholder or stockholders as aforesaid shall refuse or neglect to pay to the said directors the instalment due upon any share or shares held by him her or them at the time required by law so to do such stockholder or stockholders as aforesaid shall corporation which shall h bills obligatory and of credit under the seal of the said i forfeit such shares as aforesaidwith the amount previously paid thereon and the said share or shares or ti in- may be sold by the said directors and the sum arising therefrom together with the amount previ- or to bearer though not under the seal of the said corporation shall he binding and owin oasly paid thereon shall be accounted for and divided in like manner as other monies of the bank iv and be it further fyc that if the whole number of shares shall not be subscribed within two months after the said books of subscription shall be opened then and in such case it shall and may be lawful for any former subscriber or subscribers to increase his her or thir subscriptions and provided further that if tfce total amount of subscriptions within the period aforesaid shall exceed the capital stock limited by this act then and in such case the shares of each subscriber or subscri bers above ten shares shall as nearly as may be proportionably reduced until the total number of shares be brought down to the limits aforesaid and provided nevertheless tfcat the said imitation in respect to persons subscribing to the capital stock shall not extend or be construed to extend to prevent the acquisition of a greater number of shares by purchase after the said bank sha have commenced its operations v and be it further r that the whole amount of the stock estate and property which the said corporation shall be authorised to hold including the capital stock or shares before mentioned shall ne vtr exceed in value one hundred thousand pounds vi and be it further fyc that as soon as forty thousand pounds sha have been subscribed it for the chronicle burke mr ciihosicic i ofail llie menoreminenca who ever rorncd the british senate eomoid buttkt is the man whom i most admire there is something about him that can hardly tail of exciting a hallowed affection in every heart not dead to manly sentiment or capable of apprcci- aiing such excellence as was his i never read a page of him but i am reminded of what doctor johnson said concerning him you cannot stop tinder a shed in a shower with edmund burke without going away with the impression that you have been in company with fa great man there are but few on whom such an eneonlum can in truth he passed and nono with more justice than him of whom johnson said it in reading him we are equally struck with his matter and his manner if we regard his matter we imagine ourselves listening to a sage whose mouth opens hut to instruct in ths lessons of wisdom and truth even when tho leading train of his argument may be wrong and wrong he sometimes surely was he scat ters truths so profusely as he passes along that wc forgive him his error for the solid information he affords in its defence not to say that his in tegrity commands our respect if we regard his manner wcare equally struck with the sim ple beauty of his language the easy flow of hi words the captivating sublimity of his style the happiness and diversity of its classic orna ment his striking illustrations and the mighty force with which he convinces in his most playful moodhe evinces such pure sincerity that it checks rather than encourages risibility his sarcasm is that of grieved and indignant virtue smiling her foes with the artillery of godlike ven geance but when his subject litibeavy upon his heart there is frequently an impressive ear nestness in his manner that renders hisclo- prinrfples of tfic fmcli bcraippear as a mighty angel armed with the flaming aword that was placed at edens gate and with it bat tling from the shores of his beloved country the gloomy myrmidons of the prince of darkness but burke had his weaknesses as well as oth- pr merv his long aod sincere belief in the finar- cial visions of monsieur neckar was singular e- inch rlmllhe jimwto to nnr person or persons shall he assignable bv endorsement thereupon under the hand or hands ot such person or persons and olhis her or inert asbigircc oi assignees and so as absolutely to transfer and vest the property thereof in each and every as signee or assignees successively and to enable such assignee or assignees to bring and maintain an action thereupon in his her or their own name or names and bills or notes which may be issued by order of the said corporation signed by the president and countersigned by the cashier or treasurer promising the payment of money to any person or persons his her or their order or to bearer though not under the seal of the said corporation shall he binding and obligatory upon the same in the like manner and with the like force and effect as upon any private person or persons if issued by him her or them in bis her or their private or natural capacity or capa- noogh in a man of his comprehensive mind yet cities and shall be assignable or negotiable in ufce manner as if they were so issued by such private not perhaps m moch as his devotion to fox person or persons xvii and be it further 8f that every cashier or clerk before he enters into the duties of his office shall give bond with two or more securities in such sum as may be satisfactory to the directors with the condition for the faithful dechaige of his duty xviii and be it further fyc that the sail corporation shall not demand any greater interest on any loan or discount than at the rate of six oer centum per annum xix and be u further fyc that the cirrotors excepting the president shall not he entitled to any emolument for their services and that five directors shall constitute a board for the transac tion of business of whom the president shall be one except in the case of sickness or absence in which case the directors present may choose a chairman for the said meeting xx and be it further c that the said bank shall he established and the buildings neces sary for the accommodation thereof erected purchased or leased and the business thereof at all iiig iicniaucio ui ahiluu oim nil- hi triuii ijhih l ui vv i published at a distance of not less than thirty days from the time of such notation vii andbe it further fyc that ihc stock property affairs and concerns of the said corporation ihall be managed by ten directors one of whom to be the president who excepting as hereinafter jvevided for shall hold their offices for one year lo end 8e avs afanfty ffi jv in each y which directors shall be stockholders and shall be subjects of his majesty residing in thl9 province andbe elected on the first monday in june in every year at such time of the day 3nd at such place at kingston as the majority of the directors shall appoint and public notice shall be given by the aid directors in tho different newspapers printed in the province of such time afid place not more than sixty nor less than thirty day previous to the time of holding the said electip ana t sa election shaft be held and made by such of the said stockholders of the said baflk as shall attend for that purpose in their oyn proper personsor by proxy and all elections fordifp j ballot and the teh persons who shall have the greatest number of votes at any election shall be the directors except as is hereinafter directed and if it should happen at any election that two jor more persons have an equal number of votes in such manner that a greater numb of pe rsons than ten shall by plurality of votes appear to be chosen as directors then the said stepkbolders herein before authorised to hold such election shall proceed to ballot a second time and by pl vtes determine which of the said persons so having an equal number of votes shall bep or direc tors so as to complete the whole number of ten and the said directors so soon as may be after the election shall proceed in like manner to elect by ballot one of their number ip be a president stockholders not residing within the province being ineliigible and if any director shall move out of the province his office shall be considered vacant and if any such vacancy or vacancies shall at anytime happen among the directors by death resignation or removal frpm the s provincesuch vacancy or vacancies shall be filled for the remainder of the year in which they l happen by a special election for that purposetobeheldinthe same manner as is hereinbefore dl respecting annual elections at such time and place at kingston as the remainder of the dirtv the maj ity of them shall appoint provided always that no person shall be eligible to fee a director who shall not be a stockholder to the amount of at least ten shares viii and be it further c that in case it should at any time happen that an election ot direc tors should not be made on any day when pursuant to this act it ought tohavebcn made the said 1 corporation shall not for that cause be deemed to be dissolved but that it shall ma de lawul on any other day to hold and make an election of directors in such manner as shal have been re lated by the laws and ordinances of the said corporation ix and be it further c that each stockholder shall e entitled to a numm of vo es p tioned to the number of shares which he or she shall have held in his or her own at lea8t inrec months prior to the time of voting according to the following ratios that is to say one vote for each share not exceeding four five votes for six shares six votes or eigni snares seven votes for ten shares and one vote for every five shares above ton stockhwmcrs 7 sident within the province of upper canada and none others may vote at ehions oy proxy provided always that no person coprtnership or body politic shall be entitled ore man m teen votes at any such election j- j x and be it further fyc that it shall be the duty of the directors to make xflsarad- dends of so much of the profits of the said bank as to them or the majority of tjjil visable and also once in every three years andoftencr if thereunto required by ajoi xy mw votes of the stockholders to be given agreeably to the ratios hereinbefore estabfcu meeting to be called for that purpose an exact and particular statement of the have remained unpaid after the expiration of the original credit for a period of that credit and of the surplus profits if any afterdoducting losses and dividends ti a a jjnftm of the first monday of the month of w next after they swl fiv mts if at any time after the passing of this act the said president who shall as soon ai a deposit mounting to ten thousand pounds subscribed as aforesshall be i co refilse 0 demand being made at their banking house or any the regular hours of doing business to re- their said bills notes or other evidences of hrectors and company shall on pain of lor- friturevf their charter wholly discontinue and close their said banking operations either by way of discount or otherwise until such time as the president directors and company shall resume the redemption of their bills notes or other evidences of debt in specie or other lawful money of this province r xxii and be it further fyc that it shall and may be the duty of the president and oashier ot the said bank for the time being to make a return under oath to the provincial parliament once in each year if required either by the legislative council or house of assembly which return shall contain a full and true account of the capital stock paid in bills in circulation of five dollars and upwards not bearing interest u bills in circulation under five dollars not bearing interest tt bills and notes in circulation bearing interest balance due to other banks cash deposited including all sums whatsoever due from the bank not bearing interest its bills in circulation and balances due to other banks excepted cash deposited bearing interest total amount due from the bank of the resources of the bank the gold silver and other coined metals in the banking house real estate bills of other banks balances due from other banks u amount of all debts due including notes t bills of exchange and all stock and funded debts of every description excepting the balances due from other banks total amount of the resources of the bank rate and amount of the last dividend amount of reserved profits at the time of declaring the last dividend u amount of debts due to the bank and not paid and considered doubtful xx1h and be further sfc that the directors of the said bank shall not upon pain of for feiture of their charter loan or advance any money or bills of the said bank to any stockholder or stockholders upon the credit of the stock which such stockholder or stockholders may hold in the said bank but shall require from the said stockholder or stockholders endorsers in all res pects as safe and substantial as would be required from any applicants for discounts not being stockholders f xxiv and be it further 4c- that it shall be the duty of the directors or cashier of the bank to allow during the hours of business the names of the stockholders in the said bank to be taken by any stockholder who may require the same- xxv and be it further e that this act be and is hereby declared to be a public act and that the same may be construed as such in his majestys courts in this province xxvi and beit further that the present act of incorporation shall in no wise be forleited byanynonuseratanytimc before the first day of january one thousand light hundred and thirtyfour xxvii and be it further c that nothing herein contained shall be taken or construed to prevent the legislature of this province at any time herrafter from making such provisions as to the amount and description of notes which may be issued by the said bank as may be deemed ne cessary nor shall any thing herein contained be construed to prevent the legislature from applying to the said bank any provisions or restrictions which liy any act of the parliament of this 1 ro- vincc may be applied or enforced with respect to the bunk of upfef canada famous india bill but some pang of hia con duct to warren toasting was almost unaccoun table in a man of burkes integrity and goodnea of heart sif william wraxall in his memoir of his own limes a most interesting and valua ble work asserts lhat burke wm believed by aomc of his friends to labour under a partial aberration of intellect about that time thero was something too in his conduct ugoflrthere gency bill that i would far rather dftarge upon such a misfortune than believe to be the faithful index of his head and heart it is painftil to contemplate the mora of such great and good men it filla uwtl a lw com passion a filial and referential sorrow for their weaknesses and failings we cannot tfetoga them with systematic villainy wedaitontifrv nugn ihein as criminals at the bar of justice and like ihe sons of noah we are ratherdwpos- ed to cover the nakedness of their mtinhkies with the mantle of kindness and charily his works however must eve retnaift tt glo rious monument of his greatness dhd bia good ness especially his book on the french revolu tion that is a wonderful book itaeemsto have been dictated by the spirit of mapirttion it is a continuous stream of liviog truth puro and transparent as the wave of cryatal huron broad and doop as thainierwta and the deatlnio of mankind aa with the spear of ithureal ho touches the mask of sophistry and falsehood and tho eye of the reader at once behold them in all the nakednea and ugliness of infernal de formity permit me to ofier you the fpfcwing ettract as one superlatively beautiful w tffectirtg x 14 it is now sixteen or seventeen year suice i sawlhequeei of france then the daupbidees at versailles and purely never lighted on this orb which sho hardly seemed lo touch a mors delightful vision i saw her just above the hori zon decomting and cheering the elevated sphere shejustbegon to movsn glittering like tho morning star full of life and splendor and joy oh 1 what a revolution and what an heart must i have to contemplate without emotioa that elevation and that fall liltle did i dream when she added tillcs of veneration to those of enthu siastic distant respectful love that she should ever be obliged to carry the sharp antidote a gainst disgrace concealed in that bospm littla did i dream that i should have lived co see anch disasters fallen upon her in iatioi of gallant men in na ation of men of 0por id cavtliers i thought ten thousand swots must have leap ed from their scabbards iavenfe even a look that threntencd iter withfcsnll but ihc age of chivalry is fgone that of sophisters econo mists and calculators has succeeded and tho glory of europe is exiinpushed forever never never more shall we behold that generous loy alty to rank and sex lhat proud submission that ditrnifird obedience that subordination of the heart which kept alive even in servitude it self the spirit of an exalted freedom the un- bottght grace of life the cheap defence of na tions the nurse of manly sentiment and heroic cntcrprize is gono it is gone that sensibility of principle that chastity of honour which felt a stain like a yqind which inspire courage while it mitigated lerocity which ennobled whatever it touched and under which vico itself lost half its evil by losing all its grossnese m a