Edwardsville spectator. [volume] (Edwardsville, Ill.) 1819-1826, 1821-05-01

effects, as are now by law given TO then
against the said Union Bank and tha5.
the said Bank of Potomac may, in is
own name, sustain all actions and suits
which may be necessary to enforce the
payment of debts due to, and the per-
Torrance OF contracts made with, the
said Union Bank, and for the recover
OF any lands, tenements, goods, and chat
tells, belonging TO, and improperly with
held from, the said Union Bank.
Sec. 10. find be it further enacted,
That all bonds, bills, notes, or other Sc
curities for money, which, by the terms
thereof, have been, or shall be, made
payable at the said Union Bank, which
shall fall due after the said union shall
have been carried into effect, shall, from
thono efortl,, uo considered as If the same
had been made payable at the said Bans
of Potomac; and that demand of pay
ment at the said Bank of Potomac shall,
to all intents and purposes, be as effectuai
| in law as if the same were made at the
said Union Bank.
| Sec. IL. ind be it further enacted,
That, from the time the said union OF the
said banks shall be carried into effect,
the twenty-seventh section of the act OF
Congress, passed on the third Of March,
one thousand eight hundred and seven
teen, entitled An act to incorporate the
| subscribers to certain banks in the Dis
trict of Columbia, and to prevent the cir
culation of the notes of unchartered as
sociations within the said District, shall
be, and the same is hereby, repealed
ProUided, That such repeal shall not, in
any way, impair the right OF the said
Bank of Potomac to the money, proper
ty, debts, and effects, WHICH shall be
transferred or conveyed to it, as aforc
said, nor its remedies in its own name
for the recovery thereof; nor shall any
suit now brought in the name of the said
Union Bank, thereby abate, bnt the same
may be carried on and prosecuted for the
benefit of the said Bank of Potomac, to
final judgement and execution; and that
proceedings on such judgements or exc
cutions may be instituted and carried On
| in the name of the said Union Bank,
against the bail, securities, and all other
persons bound in such suits for the dc
PENDANTS herein.
Sec. Is. Ind be it further enacted,
That if any stakeholder or stockholders
in either of the said banks, who has not
heretofore asscnted to the union aiore-
said, shall, within three months from the
passing of this act, file his declaration in
| -, ~ &c 10
claring himself dissatisfied with the said
union, and his determination to with
draw his interest from the same, and il
the said bank cannot agree with such
stockholdcr or stockholders on the
amount of such interest, and shall not
forthwith pay the same, then it shall be
law full for the circuit court of the District
of Columbia, at Alexandria, on the Pc
tition in writing of such stakeholder or
stockholders, to appoint three commits
soners, whose duty it shall! be to ascer-
tain the value of the interest of such
stockholder or stockho lders in the bank
to which he CT they may belong at the
time of the said union, for which pur-
pose such commissioners shall, under
the direction of the said court, have ac-
cess to the books, papers, and accounts
of the said banks, and on the report OF
the said commissioners, and such other
evidences as may be laid before them,
then said court shall proceed to ascer-
tain the value of the stock ofsuch stock
holder or stockholders, and she'll decree
the value, so ascertained, to be paid TO
him or them by the SAID Bank of Poto-
mac, and shall have power to enforce
such decree by execution, attachment,
or other legal process.
Sec. l9. .And be it further enacted,
That it shall and may be lawful for any
two or more of the banks, whose charters
are hereby extended, by their respective
presidents and directors, with the con-
sent of majority in interest Of their re-
spective stockholders, TO agree, under
written articles of association, to unite
and form one bank, by style and name
to be prescribed in such articles; and
the subscribers thereto, and their legal
representatives, shall, from the day liked
for that purpose in the said articles, be
incorporated under the style and name
set forth in the said articles, and thence"
forth subject to the same rules, duties,
regulations, conditions, provisions and
limpositions, and be vested with the same
rights, privileges, and immunites, as 4
body corporate, as by this act appertans
to the Bank of Potomac, and are pre-
scribed for the union of the Union Bank
of Alexandria with the Bank OF Poto-
mac.