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r I TS2-TLEGRAPSi I 1USMD BVEKr. .TBESDiT M0BM1M9, ; A. THOMSON; .r , u, . . . .' JXERM3 OF SUBSCRIPTION. : 1 1 One Dollar and Fifty Cent, .Mid inadvancer r , ... ?; , Two Dollars within the year. J oi paid until after the expiration of the year E ww u'linri una shvj vvni (GpNa-paper will be discontinued until all ai taragesare paid( except at the option of the pub JTAlj oonttnttnlcations on the business of the root nut oo postpaid xo feoure aiienuoa. j. ITTo Clubs, of ton or more, the paper wlli inisnaa at a liberal reduotion in price, iaws. of;ouio. PUBLISHED BY AUTHOBlTr. No 114. : ANAQT..: ; .. ; To Incorporate the Bank of Ohio and other .v : ..' Banki.. : ..: ,f ' SECTioif 1 . Be it enacted by tht General r Atittnblj of the State of Ohio, Thar ii ihall be lawful- for natural Individual persona,' not 'fewer In dumber lit any 'case than fire, to associate and form companies for the pur pose of Carrying on the business of banking,, each at . stuch place in this State as ahall ;be '. deslgntied .In Its article of association,: and Ai the certificate , hereafter required . to be . fflsde, subject, however, to the contingen cies, rasirlciionsj conditions, and abilities .fRsseribedlBAhis acuy.'H -H ttm-j; Sec. 2. a TcvcB.rrj.Jntb effect the provis ions o( jthla soj W W . Scarborou ih,. of ' Cincinnati, Franklin T. P'-.n, of Clevfj- ; Chancy n.,Giud, t -Cnclaville, J,- "m. k intw ofX.wLurnbus; Bad SaiQuel'Forrer; Tof'Dayton,.shall bo, and they are heioby 'appo(ftlej..'.rbpinionersV tni"f!a9j,!6 a Tnsjorlty of them, after taking an oath' dilli gently, faithfully and impartially to perform the duties assigned thorn by ' this act, a cer tificate of which oath shall be filed and care fully preserved in the, office of the Secretary of Statei shall constitute B board, to be' des ignated the board of bank cornmissioners; which board shall continue until the organ ization, of the Bank of Ohio, as hereinafter jiroyided for, and thereafter the duties which they are required to perform by this act, in ihe organization ol branches of the Bank of unto, snail be psriormea Dy sata oanK, ana the duties in the organization of tndepen dent banks which they are required by this act to perform, shell devolve on and be per formed by the Auditor, Treasurer, and Sec retary of State, who shall be commissioners to perform such duties, and if any of said commissioners shall refuse to serve, shall die or tesign, his place shall be filled by the Gener.ej Assembly, by joint resolution, if in session, and j not, by the Governor, - Sec. 3 Said commissioners shall meet in the city of Columbus, atsuch time, within thirty days after tho second Tuesday of October next, as shall bo appointed by the governor, who shall notify each member of tils appointment, and of the time and place of meeting; they shall, when met, appoint one of their number to be president,, who shall, under the order ol the board, sign all .official Jocunvnis; and they shall cause a air and true record of all their official pro ceedings to bo kept in a book provtdod for ' that purpose. .,.), ',' , j . Sec. 4 Persons associating to form a bank shall, under thoir hands and seals, make a certificate which shall specify, . -j. i FI-t-TI nam nxumad by such bank, and by which it shall be known in its deal v Ings. in which iame shall be Included the v .name of the city, village or town In which J is banking operations shall bo carried on; Second I he amount of the capital stock of such bank, and the number of shares into which the same is divided; Third -The name and place of residence and ihe number ol entires held by each mem ,ber of the company. . Fourth The time when such compacy shall have been formed; .. .Fifth That such company has elected to carry on its operations as an it dependent , bank, or, as a "branch of the Bank of Ohio," s tho caBe may be, which certificate shall be acknowledged be fote a justice of the peace or notary public, and shall be recor ded by the recorder of the county Where such bank is to be established, in a book to be kept by him lor that purpose, which shall at all times during office hours be krpt open for the inspection of any person wishing to .examine the same; one copy of which cer tificate, duly , certified, shall be transmitted to the Secretary of State, who shall record Bnd carefully preserve the same in his of f Co. end another to the board of bank com missioners.' ( ; Sec. 5 No company shall be permitted .to commence or carry on. the business of .banking under this act, as a branch ol the .bank of Ohio, unless its capital stock shall be Bl least one hundred thousand dollars, nor shall the capital stock of an such branch over be increased to exceed four hundred thousand dollars, except as specially provi ded for In this act. ' No independent bank shall be organized under this act with & less capita! than fiftj thousand dollars; nor shall the capital stock of any such bank ever be .increased to any sunt exceeding two hun dred thousand dollars, except as specially provided for in this act.; M least fifty per cent of ihe capitaVatock of each Company shall be paid in gold and silver coin, or their equivalent; one half of which fid) per cent .at least shall be in .gold and silver coin, and .shall be in the actual possession and bona tfiJe the property of the company at the time of the commencement ol )ts banking' busi ness, and at tbe place designated lo carrying on such business, and the remainder of the . .capital stock of such bank shall be paid In, in lnstallments, each of at least ten percent .'on tbe whole amount of the capital subscri bed, as frequently as once in every four suc cessive months, from the lime of commen cing business until the whole amount of Such ' -.capital shall be paid up. . Provided, that the directors of the bank of , Ohio, may extend ihe time for the payment, of 'such deferred nstailments. or anv nart of them.' to the Jbranch banks, when satisfied that the public interest Joes'not require thern to be paid as' .frequenily as above provided 'for, and the governor may grant to the Independent banks jh? like extension Tor the some causb.' -'See." 6 " If anv shareholder er his assig nee shall fall tq pay any Installment '.'on his . jtdck when the same shall be required to be naid. the'directors may sell said itock at .public; auction, having given, three weeks previous notice thereof, in a newspaper pub .llshed in the county where the 'bank is lo cated, to any person who will pay the high- , est price therefor, not less than the amount , "rt due thereon; end the e tcest, If any, nf. wr paying" ihe expenses Ol thasalo, shall be . refunded to the delinquent stockholder- 'If! no oiaer can bcToundnirno will pay tor Such stock the amount Idue thoreon to 'the bank, ind costs of' adverilserriem and sale. tf imount previously paid shall be forfeit I W ill Ilii'llhU, H L ..: U. 1U J. y ol u. -J liLv VJ4 ps xjy t 99 per Annum' BY A. THOMSON. ed to the bank; ajnd such stock may be sub. sequently sold in such mannor as the direc tors mav order. ,. Sec. 7, The'board of i,benk! commission ers shall examine the certificates or the lor motion of banks, transmitted to them ai re auired bv'lhe fourth section of this act, and shall, by one of their own members or other -. r ' . . i . . r i sneciai acent arnointea oy tnera jor inai pur pose, who shall not be a' stockholder in any j ol the banks lot rued under tnts : act, tmrndqt ately proceed U examine' the condition, of each of the banks, which shall haye trans mitted to said board the required certificat e; and It shall be the especial a duty 'pjr , auch, agent tq carefully count oj otherwise ascer tain ihe, amount bl money paid, in on ac'Cpunt uf iw capital stock, tb.' asberiain; tho Tome and place of , residence of each of the direc tors' ,of s'ucbiahltra'nd tbat 'their sfbeknotd era; directors and officers are men ofiespon sibili'ty and integrity, and ent'ttlgdtb the pub lic confidence ar.d tho amount1 of Capital stock of which each' is trie boba fide owner, whether such bank has compiled with all the requiremehis ol this act hecessary to entitle the bank, to engage in the business of bank ing, and shall cause to be made ana attested bv the odth of a majority of ihe directors, and by. the cashier of such bank, a state menl of all the material facts necessary to enable the bonrd of bank commissioners to determine whether such bank is lawfully en titled to commence ihe business of banking under the provisions of . this act, and such agent shall immediately, report to the board of bank commissioners such statement and his proceedings in the premises. Sec. 8 II, upon a careful examination of the certificates of association, and the re potts and statements of the special agents appointed to ascertain whether the banks so organized huve complied with the provisions of this act, it shall appear that any such banks have been formed, and ' that their stockhol ders, directors and officers are men of re sponsibility and integrity, and entitled to public confidence, and that such ' banks or any of ihe.n are lawfully entitled to com mence the business of banking, the commis sioners shall certify the same to the Gov ernor, who shall, if he be satisfied that the law has in all respects been complied with, issue his proclamation, setting forth that such banks are authorized to commence and carry on banking, at the places severally designated in their certificates of association. Sec. 9 No bank shall be organized un der this act. as a branch of the Bank of Ohio, in. the county of Hamilton, with a less capital than five hundred thousand dollars, which may be increased it any sum not ex ceeding' one million" of dollars. Nor shall any independent bank be organized under this act in said county, with a less capital than two hundred and fifty thousand dollars. which mav be Increased to any sum not ex ceeding five hundred thousand dollars; pro vided that in no case where the capital stock of an independent bank is named in this act, shall the certificates of public debt required to be deposited bv such banks with the Treasurer of State, be treated or regarded as any pan of such capital stock. Sec. 1C. No bank shall ' be established under this act as a branch of the bank of Ohio, in the counties of Cuyahoga, Mont gomery. Franklin or Lucas, with a capital less than three hundred thousand dollars, which may be increased to anv sum not ex ceeding six hundred thousand dollars, nor shall any independent bank be established in any of said counties, with acopital of less than ohe hundred and fifty- thousand dol lars, which may be increased to any sum not exceeding three hundred thousand dol lars, ... Sec. 1 1 . The capital stock Of each bank shall be divided into shares bf one hundred dollars each, and shall be assignable on the books of the company, In such manner as Its by-laws shall prescribe, but no sharehol Jer shall have power to sell or transfer any shares held in his own right so long as he shall be liable, either as principal debtor, surety, or otherwise, to the company, for any debt which shall be unpaid; nor in such Case shall such shareholder be entitled to receive any dividend, interest or profit on such shares, so long ti suCh liabilities shall continue, but all such dividends, interests or profits shall be retained by the bank and ap plied to the discharge Ol Such liabilities, and no stocks shall be transferred without the consent of a majority of the directors, while the bolder thereof li indebted to the Com pany, . .. Sec. 11. ; No bank shall lake, as security for any loan or discount, a Hen on any pan of its capital stock, but , tho same Securliy, omit In kind and sraount, shall, ba required of shareholders as of peraons hot Sharehol der; arid no bank shall be the holder or purchaser of any portion of it capital stock, or of the capital stock of any other incor porated company, unless sucb purchase shall be necessary to prevent loss upon a debt previously connected in good faith, on secu rity which at the time Was deemed adequate to Insure the payment of such debt, Inde pendent of any lien Upon such stock, or in case ol forfeitures of stock fof the non pay ment of installments due thereon, as provi ded In the sixth section; and stock so pur chased shall in no case be held by die bank so purchasing for' a longer period than six months, if ihe same can be sold for what the stock cost,' or at psr. " .-.- ; .. Sec. IS. " In all "elections of directors. snd in deciding all questions at meetings of the stockholders, each share shal. entitle the owner thereof to one vote; itockholderirrtay vote bv proxies duly authorized In writing. but no officer, clerk, teller or book keeper of the bank shall act as proxy, and Ho stock holder whose liability to the bank Is past due and unpaid shal) be-vllowed to tota. . ., . Sec. 14. The affairs of every bank or gahtzfld 16 carry on the business of banking under the provisions ? of this act. shall ; be managed bv not less than five nor more than nine directuts. . Every director shall, during his whole term i of service.be citizen of the United 8iates and a, resident of this Slate. ' At least three fourths of the directors sball have resided la this .State one year next previous to their election a directors; each director shall own in his own nam and right at least one per cent of the capita! stock 01 the uanK up 10 two nunarca wousanu uoi larsVand the Jislf of one per cent on its cap ital over two' hundred! thousand dollars. The directors ; of . each bank, collectively shall, owo at least one tenth of its capital stock". ' Esch director shall take an oath thai ho will so far as the duty devolves upon him dilligenrly and honestly administer theaffiire of the bank, and not knowingly violate or willingly permit to be .' violated any of the provisions of this act'; that he is the bona fid1 owner, in his own ilgat, of the stOcK stand ing ia his name on the bool-s of the bonk, and that the same is not hypothecated, or in any way pledged as security, for any loan obtained or debtowine; which oath,subscri bed by himself and certified by the officer before 'whom 1i Is taken,' shall be Bnd carefully preserved H the office of the re carder o( the .euntr. in .whlcUuhe bank U locatoJ; but no person-shall be president of more than one punK organizou under tnis act, at the samu time. Sec. 1 5. 'The directors of any bank first elected! shall hold' their places until the first Monday In January next thereafter, and un til their successors sball be elected and qual ified; all subsequent elections shall be held annually on' tho first Monday of January and the directors'so elected shall hold their places for one- year, and until their success ors are elected and qualified; put any airec tor removing from the State or ceasing to be the owner of the requisite amount of stock; shall thereby vacate his place. Any vacancy in the board shall be filled by ap pointmer.t by the remaining: directors; the director so appointed, . shall hold his place until the next annual election; and if from any cause an election of directors shall not be made at the time appointed; the bank shall not for that cause be dissolved, but an election may be held on any subsequent day, thirty days notice thereof having been given in a newspaper printed in the county where the bank is located. Sec. 16.' Every bank authorized to carry on the business of banking under the pro visions of this act, whether as a branch of the bank of Ohio, or as an independent bank, shall be held and adjudged to be a body corporate, with succession until the first day of May in the year one thousand eight hundred and seventy-seven, and there after until its affairs shall be closed, and by its corporate name shall be competent to contract, prosecute and defend sultsand ac tions of every description as fully aa nat ural persons, and process against such bank may be served upon its president or cashier, or by leaving a copy thereof at its usual place of business during the usual business hours, jbach of said banks shall, until the first day of May, in the year one thou sand eight hundred ahd seventy-seven, If so long it shall comply with the provisions of this act, have power to loan money, buy, sell and discount, bills oT exchanger taieS, and all other written VvTdencer of debt, ex cept such as it shall be prohibited by this act from buying, selling or discounting! receive deposits; buy and sell gold and silver coin and bullion; collect and pay over money, and transact all other business properly ap pertaining to banking, subject, however, to the provisions and restrictions contained in this act; may acquire, hold ahd convey such real estate as may be necessary to the con venient transaction of its business, and no more, but may, however, acquire title to any real estate pledged to secure any debt pre viously contracted or purchased on an exe cution or order of sale, to satisfy any judg ment or decree in its Javor, or wnich shall have bjen conyeyed to it in payment of any previous debt, but shall hot bold any real estate so acquired longer than is necessary to avoid a loss of any part ol ihe debt, in terests and costs, for the collection or secu rity bl which it was acquired, but "at any time before selling the same, upon being tendered bv the last Drecedire owner, ot his legal representativea, such sum as shall be necessary to save such bank from loss of any part of the debt, Interest, taxes, costs, and other necessary charges for the collec tion or security of which real estate was ac- quiied, euch bank shall release to such owner; his legal representative or assigns, all its righi, title and interest therein. , Sac. 17. Notes of one dollar, two dol lars', three dollars, five dolhrs, ten dollars, twenty dollars, fifty dollars, and one hun dred dollars each, and no note of any other denomination may be issued by any bank organized under this act; of the notes issued by any auch bank, not more than ten per cent of the amount shall be in notes of one dollar' each; hot more than ten per Cent in notel of three dollars' each; not more than twenty per cent shall be In notes 6f ell de- nominaiiona under five do.lars; . not more than fifty per cent in notes of all , denomi nations under ten dollars; . Sec. 18. No bank organized under (his act, shall, at any tithe, issue or havo in cir culation any note, draft, bill ol exchange, acceptance, certificate of deposit, or other evidence of debt Which,' from' its character or appearance, shall be calculated or Inten ded to circulate as moneys other than such hotel of Circulation as are by this act de scribed, and which , such bank Is. expressly authorized to issue fof the purpose of being circulated as money.' ' .SeC. 19. Each Independent banK Shall receite at par, at, the office or banking house of such bank,' In payment of debts due at such bank for notes of hand,' bills of ex change, or other evidences of debt, discoun ted or purchased by or ' belonging id such bank, the hole of circulation issued by Boy other I (dependent bank authorized to issue such notes by this act, which shall ai the time redeem Its notes in gold and silver coin; and ever) branch of ihe bank of Ohio shall receive at pat at the office or banking house of such branch in pavment of debts due at such bank for noios of hand, bills of exchange, or other, evidences of debt, uis eounted pr purchased .by or belonging to, such branch bank, the notes of circulation Issued by any other branch of the bank of Unto. a - -: ;.. ., ; . . ' .. ' Sec. 50. Each bank' shall at all times have on hand, in gold or silver 6i!n, or their equivalent't'one half at lean of -which ahall be In gold or; silver coin, -In ill vault, art amount equal to at least thirty per Cent of tne amount oi us outstanding notes ot cir culiiion; and whenever the amoum of tut TV'l GO JvVtf j T - POMEROYj TUESDAY. outstanding "na ceed the aboveli e oi circulation shall ex - named proportion, no more of Its note shall be paid out, or otherwise Jul in circulation by such bank, nor shall iich bank increase Us liabilities, by making any new loans U discounts, other than dis- Couniini Or purchasing bills of exchange. payable at sight nr make any dividend of its prpnts, ud.ui i required proportion be- tween lis outsta in? notes of circulation. and gold and sil r coin, or tKelt equivalerntitetatement shall be foriiiwith trdnamitied to on hand, shall be. restored. . Actual dwosittihe Auditor of State. wiin any solvent doi 'or banker, f ities p1 utneu crBait, in tno cities p Boston, Philadel; hla or Ba" lobe drawn agaifrt ut slght and silver coinshiil! be deetif" ... uiis toxoid and silver r-ji: . wherever uiuawti;. ...oJ l -.1. . . ,- Sec. 21. No, bunk organized under this act shall at any time be indebted or in any way liable to on amount exceeding, if a branch oi the bank of Ohio, two-thirds, or if an independent bank, the whole amount of its capita! stock at such time actually paid in, and remaining as capital stock undiminish ed by losses or otherwise, except on. the fol lowing accounts thit is lo say,. , , , .... First On account of its notes "of. circu lation: ' 1 ' ' " -,n ''.-"-' Second On account of moneys depos ited with or collected by such banki Third Un account of bills of exchange or drafts drawn against money actually on depos.it to ihe credit ol, or due to auch bank. fourth Liabilities to Its stockholders on account of money paid in, on capital stock and dividends thereon. ! Sec, 22... No bank shall, either directly or indirectly, pledge,' hypothecate or ex change any of its notes pi circulation for the purpose of procuring money, to be paid in on its capital stock, or to be used in its ordinary banking operations, or Tor the pur pose ol purchasing certificates ol state stock to be deposited with the Treasurer of State, or with the bank of Ohio; nor shall any bank apply or permit to be applied, hypoth ecated or pledged, any portion of its capital stock lo'-ihe purchase of certificates of State stock tQ.be deposited wilh the Treasurer of State as collateral security for the I ademp tion of .its notes of circulation. aec. 29. ISO bank shall, durlna the time it shall continue 1 its operations as a bank, withdraw or permit to be withdrawn, either in form of dividends, loans to stockholders, for a longer period of lime than four months, or in any other manner, any por tion of its capital stock; and if losses shall at any time have been sustained by any bank, equal to or exceeding its undivided profits then: on hand, no dividends sball be made, and no dividend shall ever be made by any banV,: while it shall continue its banking' 6perartonaio sVo Aunoadi ''' than its net profits the oil hand; 'deducting therefrom its losses ahd bad and suspended debts; and all debts duo to a bank, on which Interou is past due and unpaid for a period ol six months, unless the same shall be well secured, and shall be in the process of collection, shall be considered bad or sus ponded dobts, within the meaning of this section. Sec. 24. The directors of each bank shall, semi-annually on the first Monday in May and November, declare a dividend of so much of the net profits of the bank as they shall judge expedient; and, on each dividend day, the Cashier shall make a full, clear and accurate statement of the condi tion of the bank as it shall be on that day, after declaring the dividend, which shall be veilfied by the oath of the Cashier, presi, dent and a majority of the directors; and similar statements shall also be made on the first Monday in esch month, in each year, which statements shall contain, ' - t.irst -The amount of the capital stock actually paid in; and then remaining) as the capital stock of the bank. Second The amount tf the bills or notes of the bank then in circulation, specilyihg the amount of each denomination. . Third The greatest amount In circu!a: lion at any time since the making of the last previous statement, tt shall have, been ex hibited by the weekly - statements of the cashiers, specifying the times when (he same occurred; ' ' '. : .--" f Fourth The amount of balances and debts of every kind due to the branches of the bank of Ohio, the amount due to other banks of the State, and'ihe amount dde 10 banks not of this State.' ' - - Ffth The amount due to depositors; Sixth The total amount of debts and liabilities of every description,' and (he great est amount since the making of the last previous liaterrVenl,' specifying the lime when the sarna ne'eurredj - . Svehih--The total amount of dividends declared on ihe siaiefneutf Eighth The amount ot ibid and silver Coin and bullion belonging to such bshk, and In possession, at the time of making the statement, designating the amount of each. ninth 1 be amount subject to be drawn ai sight, in gold and silveMheh enfiainfng On dupotllt with solventf sp'eCfe paying banks or bankers, in the cities of Hew York, Phil adelphia, Boston and Baltimore? ; .'- '.' lenth The amount then on ,- hand, of Mils or notes", issued by branches of the bank oi Ohio', the amount issued by other banki bf this State, and the amount Issued by banks not of this State; ; , hie venth The amount of balances due torn branchei of the bank of Ohio, the amount due fronft other1 banks of this State, and the amount due from banks not of this State, excluding, in the latter case,'deposits in the Cities or New York, Philadelphia, Bos tort and Baltimore,! subject to sight drafts, payable in speoief -r-a v vl:k k ;. Twelfth The ambunt on Jiand oi bills, bonds, hotel, And other . evidence of debi, discoQnted Or purchased fty the bank, ipeci- lying particularly the amounti bt suspended debt, the amount considered bad, the amount considered docrbtful, and iheamoiiai in suit or judgment; :'!', .;.-'..i..fti niu.;,- .- Tbirteentb The -value 61 the nal and petaonal property, held for the convenience of the bank, specifying the amount ofeaoh: 1 Fourteenih--The amount of real estate taken in payment of debts due the bsuk; i" Flfteenth-The amount of the undivided proftta of tho 'baink. 1 ivu:i.5i;,,;.i;' 1 Hi.50 In Advance. MAY"' :20.-l850. 1 Sixteenth -The total amount ol the i liabilities to the bank by the directors there of, collectively specifying the gross amount or such liabilities , as principal debtors, arid the gross amount aa endorsers or sureties; ! Seventeenth -The total amount of liabil ities to the bank of the stockholders thereof collectively,. specifying the gross amount of auco liabilities as principal debtois, and the gfoss amount as indorsers or sureties; which Jti An1, abstract of eery auch statement owing the condition of the bank, ahall be immediately published by the bank, in some 'fwspaper printed in tne county wDereaucn iBk fasltuaiedv',. .., 'i'.'. .".;,...' , J ,Sec 25. ';The general . assembly shall viever Impose any greatei tax upon property employed in banking under this act, than is or may be imposed upon the property of in dividuals. Sec, 26. Every bank organized under this act may take, reserve, receive and charge on any loan or discount made, or upon any note, or bill of exchange, or other evidence of debt, at the rate oi six per centum per annum on the amount of any such note', bill of exchange, or other evidence of debt so discounted, and no more; provided, how ever, that interest may be reserved or taken in advance at the time of making the loan or discount, according to the usual rules of banking, or as calculated in Kovjlett s tables; and tne knowingly taking, reserving or charging on ar.y debt or demand discounted or purchased by such bank, at a rate of in terest greater than that alio wed by this sec lion, shall be held and judged a forfeiture of such debt or demand, but the purchase or discount of a bona fide bill of exchange, or note payable at another place than the place of such purchase or discount and the taking or reserving of interest thereon at the rate afaresaid, from the time of such purchase or discount, until the maturity ol such bill ur note, shall not be held usurious, although exchange on the place where it ia made payable, is at the time of such purchase or discount, worth a premium; nor shall the discount or purchase of a bona fide bill or note, payable at a place, between which and the place of discount or purchase, exchange ia in lavor of the place of discount or pur chase, and the taking In addition to the rate of interest aforesaid, the rate of exchange between such places be deemed usurious; provided, no more than one half of one per cent, ahall be taken as exchange upon any such paper payable in this Siate, and in no case shall more than the current rate of ex change between such places be taken. Sec. 27. ; The total liabilities of any per sot) or of any company or firm, (including in the liabilities of a company or firm the liabilities ( the aaral members thereof.) to any bank organize -under;-. ihiot, tnoluw si ve ol liaDi lines as acceptor, or acceptors of bona fide bilis ,of exchange, shall at no time exceed one half, inclusive of liabilities aa acceptor or acceptors, one fifth, and ex elusive of all liabiliies on such bills of ex charge one tenth part of the amount ol the notes which such bank is authorized to cir culate at the lime of such liabilities. Soc. 28. No bank ahall, at any time, pay out on loans or discounts, or in purchas ing of drafts or bills of exchange, or in pay ment of depositors, nor shall it in any mode put In citculation the notes of any bank or banking company which notes shall not ai that time be receivable at par in pajmem of debts, by the banks so paying out or circu lating such notes, nor -shall it : knowingly pay out or put in circulation any notes is sued by any bank or banking company which; ai the time of such paying out or putting in circulation is not redeeming its notes in gold and silver, nor any notes is sued ty any bank outof this State. Sec. 29. All notes; bills, and other evi dences of debt, excepting bills of exchange; discounted by any bank; shall be made by the terms thereof, or by special indorsement, payable solely to such bank, and no such evidence of debt shall be assignable except lor collection, or for the following purposes: Fiist To pay and redeem the circulating notes of such bank; . ' Second To pay other liabilities of the said batik; and after such liabilities shall havo been discharged; f Third To divide among the sharehold ers on their stock. : Ssc. 30. No bank organized under this act, shall issue , any certificate or deposit, order, draft, bill of exchange, or other evi dence of debt; payable Jo currency or in anything less valuable than cold and silver coin, except receipts (or special deposits; nor ahall any such bank Beep .any accounts in currency orlrt any thing lets valuable than gold and silver Coin, eictpt accounts of spe cial deposits. . Sec. 31. No bank organized under this act, shall be permitted. In receiving payment at its banking house or other place than where the same is payable, of any nete, bill oi other evidence of debt; due to such bank; and payable at a place other than at its bank ing house, to receive it' addition to the amount of such1 debt and . the legal Interest due thefaoh, any sum whatsover as premi um, exchange or damages; provided, noth ing in this section Contained shall prevent such bank from receiving the damages al lowed by law upon any bona fide bill of ex change, duly protested . for non acceptance or non payment. . ..,-. Sec, 32. Alt transfers of notes, bonds, bills of exchange and other evidences of debt owing o any bank, or of derVosita to its cred it; all ' assignments qf mortgages' tir other securities on , real estate, or of judgment or decrees in its favor: all deposits of money, bullion or .other, valuable thing for Its .use, or for the u'so of any of Its stockholders ' or creditors; ,all payrnents1 bl tnoriey ' to either, made afe the cammisatory of an act of in solvency,' pr ln:coniemplp.tibn, thereof, with' a ylew to preent,(he' application of Its as sets ib the manner prescribed by this act, or with a view to the preference of one credi tor (o another, except in payment of Its cir culating notes, shall be utterly null and void. Sec. 33, -4 irihtt.directors of any bank or Resized under ibis act, shn!IfknowingIy vio late ut knowingly permit any of tho officers, agentB or servants of such, panks'io, violate inj.pf;lbepioylalon of this ,s?t, all' the f 1 !)!:. 'I'M' . h":-H 1 1 . It'll T 1 IJ 'i. II . Ill I .. " i v II ' Ml : U " - " ". ', ,. T' " VOL'. 8-XO. 16. rights, privileges and franchises of said bank shall therely .be forfeited; such violation shall, however, be determined and adjudged by a Court of competent jurisdiction, agree ably to the laws of this State and the prac tice of such court, before the corporation shsll be declared dissolved; and in crsa of such violation, every direstor who participa ted in, or assanted to the same, shall be held liable in his p'erSonil and individual capacity for all damages, which., the '.'company, its' shareholders, or sny other persons body cor porate or , politic, shall have' sustained in consequence. of such violation. ' )"'. ' ' Sec- 34.; Every president, director, cash ier, teller, clofk or agent of any bank 'who snail embezzle, extract, or. winiuUvmisap ply arty o the rnbrinys,- funds, or credits of. such- bank,' or shall, without authority from the directors,' issue or-p'tit In circulation any of the notes' of such bank, or shall, without' such authority, issue or put forth any certifi cate of deposit, draw any order or bill of exchange, make any acceptance, sign any note, bond, draft, bill of exchange, mortgage. judgment or decree, or shall make any false entry on any book, report or statement of the bank, with an intent in ' either case to injure or defraud such bank, or id injure or defraud any other company, body corporate or politic, or any individual person, or to de ceive any officer or agent appointed to in spect the affairs qf any bank in this State, shall be deemed, guilty of a' misdemeanor, and upon conviction thereof, shall be con fined in the penitentiary at hard labor, not less than five nor more than ten yearn. Sec. 35. Stockholders in banks organ ized under this act, shall each be individu ally and severally liable to the creditors of a bank of which they are stockholders, io a sum equal in amount to the stoqk, owned by each, and should any such bank bocome insolvent, and its assots bo found Insuffi cLnt to pay its debts and liabilities, its stock holders may be compelled to pay auch defi ciency, in proportion to the amount of stock owned by each, and should the whole amount for which stockholders are . individually re sponsible, as provided In this section, be found In any case to be inadequate to the payment of all the residue of the debts of any bank after the application of its assets to the pavment of auch debts, then, and in I that case, the moneys due from stockholders I on account of their liabilities as such, shall be distributed equally among all the credi tors of suclt bank, in proportion to the amount due to each, the personal liability in litis section provided for, is over and above the stock owned by stockholders, and any amount unpaid thereon. Sec. 36. Tne General Assembly may alter or repeal this act at pleasure, but no act altering or repealing this act, shall im pose any Injustice or wrong upon the sibek holder; of any bank organized under ii.- sec. o. uvtry corporation organized under this act, shall have power to make ell necessary and proper by laws for the man agement and control of its business and to fix and regulate the rate of charges for ma . ma a t a. . i King collections. . i ne oank ot Uhlo may revise the by laws and may also revise ihe regulations of the branches concerning char ges for making collections, and cause both to be made uniform among the branches, ot as nearly so as may be deemed expedient bee. J8. 1 he corporations organized under this act shall continue to exist so long as necessary for the settlement of their af fairs, notwithstanding the repeal of this act; and no law shall ever be passed, diverting i r appropriating tne assets oi any such corpo ration to any purpose other than to the pay mem of its debts and liabilities, and the dis tribuiion of the residue among its stockhol ders in proportion to (he stock by them sev erally owned. IN RELATION TO TBE BANK OF OHio. Sec, 39. Whenever, from an inspection of the certificates transmitted by banks to the board of bank commiseioneis, It shall appear that any number of said bants, not less than five, nave made their election to transact their banking operations as branch es of the bank of Ohio, and . have complied with the requirements of this act .prelimi nary lb the commencement of banting op eratlont, then said commissioners shall in, mediately notify each' of sdld banA thereof, and within ten days after receiving such' no tlce, they shall each appoint in auch' man ner as the director thereof shall prescribe, one person to be a director of the bant of Ohio. , But no person' who is not a citizen of the United States, arid a resident of this State, arid who has not resided within the State at least one veer next previous to his appointment, shell be such director.' sec. 40. ihe ditectors of the bank of Ohio who shall have been appointed agree ably to the provisions of the preceding sec (Ion; shall, from the lime of (is organization until the first dtfy of May, in the year one thousand eight hundred and seventy -'seven, and thereafter until the affaiis of the several branches of the bank bf Ohio shall be finally closed Up, be a body corporate, with succes sion, and by the name 61 (he Bank of Ohio, capable of contracting and of prbsecuting, and defending suits' or action?; aa fully as natural persons, arid of doing all oih'er acts snd things' necessary to effect the object contemplated in this act by the lormaifon of said corporation. They shall meoi in the city or Columbus at such time as shall be designated by the board of bank com missioners, who she'll glVe ten days previous notice to' each bra,rich of the time of such meeting; they shall each take an oath' dilli- gently, faithfully arid Irfipanially ib perform the duties imposed on thern by this act; a certificate of which, oailV shaft be filed and preserve d In the office of the Secretary of Siaie. They' shall organize, provided two thirds of the whole humber shall be con vened, by electing some suitable person as president, whoso duty ft shall be to preside at the meetings of the board,' Snd sigh lis official documents. They shall' "elect a vice piesident, whosd duties shall be pre scribed by the by-jaws of the corpora'iion.' They shall appoint a secretary, who shall keop a fair arid true record of the' proceed- ngs of the bank. They shall keep art office in the city 'of Columbus, " which, together with their books,' papers, records; and ac counts' of' every description, sbaH at ell OFFICE OF THE. TfiUECIRAPH, : FRONT STREET. SBVis DOOM IILOW COUIT U IT4IBS, - r"SDMERf)Y,0H10.'" '.'.: Onesquae ( jl lines or less) three weeks', J 00 Every subsfcTJuentinsertion, ; j t 'it One tfirufre, three months, i ti t.-A ,3 C4 une square, Six niontns, ;;., - "i a Ofll One square, one year, i , : ;,. i ; ., ,j - 8 00, One half column, one vear. r 2 : : 1 20 oft Three-ftufthS ofa' colulhft, oni year,.' 1 35 00 une column, one year, r -s j - i; 1 so 60 tD-AdTertitementsnbt having the number af Uk sertions marked on. copy,- wil be continued emC forbid and charged accordingly, , ' . ... 1 ITXasuaiauvertiseriniustpay in advance. lirJobPflnMnsj, of every descriptios " ;;ixeeuteil with accuracysod neatness. '-' ,' limes be bperi' id the Inspection of any cin,V miitee of the general assembly, or efiher ' branch thereof, and of any commission or commissioners especFa'lly sppofri'ied' for that 1 purpose b'y the general ossembfy,'. ifi'd'of ' ony person .appointed by ariy on'ebf the' branches; They shall procure arid foYnitb" each branch with hotel fof circulation, sod ' decide on the amount to be lurhfshed from lime to lime to each, within the limits and' Agreeably to the rules and. resttfCtlbns pte' icr'ib'ed- by ' (his am. They may prescribe. ' rules lor the settlement of balances beiwcen the branches.; They shall lis ve power by ' (hemsflyes, or-bv-av committee of one or1' mote members of theit own bodw at bv a special. agnp -appointed, by' therit for that ' purpose, whenever s nd as oftsln as they shall think propel, to visit any branch; Inspect its books', records and , accounts,, and all the: evidences' of debt due to and securities held by such branch; examine arid ascertain the amount of riioney and other property held by such branch; ex'amirie on oath the presi dent, vice president, directors; cashier, and U, all other officers, agents, clerks or servants of the branch, touching Its condition, means and liabilities. They ahall have power to require any branch to reduce (is Circulation or other liabilities, within tufch limits aa they shail, ater full inquiry into Its condition, deem necossary 10 secure from loss either " tbe dealers with such branch, oi the other branches of the bank ol Ohio; Th'ev may require the officers of eaClt branch io" mako out under bath, Bnd transmit to the office of said bank at Columbus, statements of tha condition thereof, in such form as auch bank shall prescribe, and as ftequenily as ' they shall deem proper, which statements3 shal! be recorded in a book or books io ba - ' kept for that purpose. They may appoint an executive committee of not leia than three, of whom the president, or vice ores- idem shall be one, to ait In behalf of tho bank in such cases, and perform all such duties as shall be prescribed by the by-laws of said bank, not inconsistent with this aci Sec. 41. 1 he president, vice president. rnd secretary of the bank shall each teceiv such compensation for their services as said bank shall allow, which shsll be assessed. upon the several branches of the Bank of Ohio, in the tatio of their capital stock. The bank may also allow the executive committee sucb compensation as it ahall deem just and reasonable, 10 be paid by the several branches in the same mannor; and the expenses of procuring plates and print ing notes of circulation; shall be paid by, the several branches in the ratio of tho notes of, circulation, received by each. Sec. 42. Each director of the bank shall, continue in office until the first Monday of February, next after, his appointment, arid until his successor shall be appointed ahd qualified;. Vacancies in the board shall be filled by the branch by which the appoint-' ' went vacated was made. In voting, each member shall be entitled to one Vote, and to one additional vote for eVery fifty thousand " dollars bf the amount of capital stock paid in to the branch represented by him over one' hundred thousand dollars, at the time of such voting. The president ahd vice presi dent shall hold their offices for one year, and until their successors shall be appointed but they may be removed by a resolution of the board; They shall take an bath faith fully, dilligcntly and impartially to fulfil tho duties of theit' appointments and not know ingly violate any of the prbvisiim's of this awn. J.UGJT may ud icquireu 10 give DOnu in such sum, and with such sectirities as the bank shall prescribe; ahd all vacancies iri said appointments shall be filled bv the bank. . ' ' Sec. 43. All notes issued bv anv branch. intended to circulate aa money, shtll bo payable at the branch by which they ere is-, sued, in gold and silver coin; tbe lawful our-' rency of the United States, or either; at the' option bf the branch, bh demand: they shall be sighed by the president and vice presi dent of the bank of Ohio, countersigned by the cashier of the branch by which they are issued, made payable to bearer, arid shall be negotiable by delivery; all other eviden ces of debt, issued by any branch, shall be negotiable or transferable ib the same man ner as if issued by a riattiral person, and shall be binding bit the branch, whether un der seal or not, and all such evidences of debt, other than notes of circulation, shall be payable to the order of some person therein nathed. ... See 44.- Nd' brunch of the Bank bf Ohio shall, at any time, have iri circulation notes iri the similitude of bank notes, to an amount bearing a greater proportion, to the capital stock of Said branch actually paid iri. and rit the time remaining undiminished by loss- , es or withdrawal, than the proportion here iriafler specified, that is to say: ' Uft the hrst hundred thousand dollars, or ariy lesser amount of lis capital, nbr more (ban twice the amount of such capital. On the second hundred thousand dollars1 or part thereof, not more than once and three-quarters tbe amount of sncb capital; bVer bne hundred thousand. ', "." " On the. third bttodred thousand dollars'; or part thereof, riot more than 6nce and ft half the amount of such capital; over ttrd hifndred thousand. - , On the fou'rth hundred thri'usarid dollars, or part thereof, riot more than once and a quarter the amount bf auch capital, over three hundred thousand; arid, On any amount of capital over four huh- - dred thousand dollars, not more than an amount equal to such capital, over four hun dred thriusand. '.' ' Section' 48.' Notes designed for circula- tion shall be delivered by tbe Bank bf Ohio' to' each branch; on a written order signed by the president and a majority of the di rectors of such brarioh; such orders shall be carefully preserved by Said bank iri' its of- v fice,' an accurate aeconnt of all the totes so delivered, the amount of the notes of each denomination' so delivered, arid the date of -' such delivery, shall be kept by the Bank of Ohio, iri a book 6t books, tribe provided and kept in its office at Columbus; all notes so: Worn, defaced or mutilated, as tq be unfit for oifoulatlon, shall bo returned by the branch by which they were Issued to the " bank, and an equal amount of pew notes rJ ' ' n ..j, r-.-.'ik- n - v. U - :i t . . -Hi 'I?i'