Lancaster gazette. [volume] (Lancaster, Mass.) 1828-1830, 1829-05-26
vnce, or endorsement, his heirs executors, adj

pnce, or endorsement, his heirs executors, ad-
illustrators and assigns.
bills issued from any Bank shall be signed
by the President and Cashier thereof: Pro-
vlded, however, that all bills which shall get
into circulation signed by either the Presi-
dent or Cashier thereof through the agency
or neglect of any officer of the Bank, shall
be binding on the Corporation. Every Bank
within the Commonwealth may issue bills
under, five dollars to the amount of twenty
five per centum of its Capital actually paid
in, and no more but no Bank shall issue
bills Of a less denomination than one dollar
under penalty of one hundred dollars for
each offence. All bills shall be issued in
the name Of the President, Directors and
Company of the Bank issuing them: but no
Bank shall issue any note, bill or check,
draft, facility or certificate, payable at a fu-
ture day or bearing interest. No Bank in
this Commonwealth shall be permitted to-
take any greater rate of interest or discount
on any note, draft or security than at the
rate of six per cent per annum, but such in
terest or discount may be calculated and
taken according to the established rules of
Banking: Provided however, that in dis
counting drafts or inland bills of exchange,
the Bank so discounting the same may
charge over and above the rate of interest
aforesaid the then existing rate of exchange
between the place where such draft may be
discounted and the place where the same is
payable. No Bank shall issue any bill, note,
check, or draft redeemable at such Bank in
any other manner than by payment in spe-
Gle. Every Incorporated Bank which shall
issue any bill, note, check or draft, redeem
able in any other manner than by payment in
specie, on demand, ofpayable at any place
other than the place where such Bank is by law es-
tablshed and kept shall be liable to pay the same in
specie to the holder thereof demand at said Bank
withouta previous demand at the Bank Or place
where the same is on the face of such bill, note
check or draft, made payable. And if the Bank
which issued the same shall neglect refuse pay
on demand made aforesaid, any bill, note, check
draft such Bank shall be liable to pay to the hol-
der thereof two per cent. per month damages be-
fore provided for in this act. Provided, however,
that nothing herein contained shall extend to any
check draft drawn by the President or Cashier Of
any Bank within this Commonwealth on any other
Bank either within without this Commonwealth
for any sum exceeding hundred dollars: but all
such checks drafts shall first be presented for
payment at the Bank on which the same shall be
drawn, and in default of payment, the holder shall
be entitled to recover against the Bank which issu
ed the same, the amount ofsuch check draft with
two per cent. per month the amount thereof from
and after the time when such check or draft shall
have, been refused payment at the Bank issuing the
same, as additional damages in any action against
such Bank for the recovery of such check or draft
Provided, however, that nothing herein contained
shall restrain any President Cashier from drawing
any check draft for any balance due to said Bank
SEC. 70. Be 1t further enacted, That any
President, Director, Cashier, OF other officer
or servant of any Bark incorporated in this
Commonwealth for the purpose of issuing
bills, or notes, who shall embezzle or fraud
ulently take or secrete, with intent to con-
vert to his own use, any money, note or bill,
obligation, security, bullion or effects Of, and
belonging to, such Bank, and in its posses
sion, or belonging to any person or persons,
or body or bodies politick or corporate, and
deposited in such Bank, and every person
assisting and aiding therein, being thereof
duly convicted in any Court of this Com
monwealth having Jurisdiction of such Of
fence, shall be deemed in so doing to have
committed the crime of larceny, shall be
punished by solitary Imprisonment in the.
common Jail or the state prison for period
not exceeding one year, and by confinement
afterwards to hard labour in the common
Jail Oh. state prison for period not less than
years, nor exceeding ten years, according
to the degree and aggrayation of the Of
fence.
SEC. 81. Beitfirther enacted, That the
Cashier of every Bank shall, in every year,
make Return of the state of such Bank
as it existed at two o'clock, afternoon, of the
first Saturday in such preceding month, as
the GOVERNOR may direct, and shall trans
NIT the same as soon as may be, not exceed
ing fifteen days thereafter, to the Secretary
of this Commonwealth, which return shall
specify the amount due from the Bank, de-
signaling in distinct columns the several par
ticulars included therein, and shall also
specify the resources of the Bank, designat-
ing in distinct columns the several particu-
lars included therein; and the said return
shall be in the following form: