The Massachusetts spy, and Worcester County advertiser. [volume] ([Worcester, Mass.]) 1825-1831, 1829-03-18
WHOLE NO. 1920.


ing to them, their charter thereupon may be-
declared forfeit and void And if any officer of
any BANK, or other person having charge of the
books and property of any Bank, shall ref,sg
or neglect to exhibit said books and nronar,y
or shall in any way obstruct said examination
by committee as aforesaid he or thew so of.
tending shall be guilty of misdemeanor. and
OIL conviction thereof shall be punished bv
line not exceeding ten thousand dollars. or i'm
prlsonment not exceeding three years, at the
discretion of the Court
SEC Ia. Be 1t further enacted, That in adj.
dition to the capital stock to which any Rant
may be entitled by its act of incornorat;on .hr
Commonwealth shall have 4 right to subscrihs
thereto, to an amount not exceeding f;ftv ,Ser
centum of its authorized capital, whenever nro.
vision shall be made therefor by law and tha
Commonwealth from the time Of MAKING arv
such payment toward the capital stock of such
Bank, shall be entitled TO their proportionate.
share OF the profits and dividends arising from
the amount thereof.
SEC. 10. Be 1t further enacted, That in .d-
dition to the Directors authorized bv law 70 H.,
chosen by the Stockholders in the several
Banks, the Legislature shall have right from
time to time, to appoint number Of Directors
IN any Bank, in such proportion as the snma
paid from the Treasury of the Commonwealth
towards the stock of said Bank shall hear r.
the whole amount of the stock actually maid
INTO said Bank, if at any time hereafter thew
shall see fit to exercise that right
Sec. 20. Be 1t further enacted. That e,,srs
Bank shall be liable to pay to any bona 6ds
Folder the original amount of any no.e of sa;J
Bank, altered in the course of its Circulation =.
a larger amount, notwithstanding such altera-
ton.
SEC. 81. Be 1t further enacted, That every
Bank shall within ten days after the first Mon
day In October and April annually, pay 10 the
Treasurer of this Commonwealth, for the same.
lax OF one half of one per centum on the
amount of such part of their original stoeassas
shall have been actually paid in by the Stock
holders in the respective Banks: Provided.
that If any portion of the capital stock shall NOT
aaVe been paid in six months previous to said
days, then the tax on such portion shall be maid
IN proportion to the time that has ELAPSED sinca
1t was actually paid in. 1t shall be the dutv of
every Bank which shall be Incorporated after
the first Monday of October, in the year of our
Lord one Thousand eight hundred and thirty.
one, or which on that day shall not have co,n<
pleted the payment of their several instalments.
to furnish the Treasurer of the Commonwealth.
on or before the first Mondays in October and
April, with an abstract of the amount of stock
actually paid by the Stockholders into their
respective Banks. together with the time when
the several instalments were paid. And, if anv
Bank shall neglect to pay the aforesaid tax for
the space of thirty days, after the same shah
become due, 1t shall be the duty of the Treas
urer to issue warrant of distress, directed tn
the Sheriff of the County ia which such Bank
is situate, or his deputy, commanding them 10
levy and collect the sum due from the estate
and effects Of such Bank, which warrant shall
be IN the same form (mutatis mutandisl as war
rants of distress against delinquent Sheriffs are
by law directed to be Issued.
SEC. y. Be 1T further enacted That it shall
be the duty of the Directors of the several
Renks incorporated by and within this Common.
wealth, once in FIVE years, to have all The
weights used in their respective Banks con,nars
ed, proved and sealed by the Treasurer of the
Commonwealth, or by some person specially
authorized by him for that purpose, which shall.
supersede, so far as respects such Banks. the
sealing OF their weights by the Town or Dis
trict Sealer. And no tender of gold by any
Bank in this Commonwealth, weighed with
weights other than those compared, proved and
sealed as aforesaid, shall be legal. And to pre-
vent the unavoidable imperlection of scale
beams from operating unequally in payments
OF gold, the payer or receiver may require that
the gold shall be weighed in each scale. and
the mean weight resulting tberefrom shall be
considered as the true weight
SEC. %. Be ii further enacted, That shares
in any Bank shall be liable to be attached on
mesne process and taken in execution and sold
agreeably to the provisions contained in an act.
entitled /" an act directing the mode of attach.
ing mesne process and selling by executiou
shares of debtors in incorporated Companies"
passed in the year of our Lord one thousand
eight hundred and five, and an act in addition
thereto, passed in the year of our Lord one
thousand eight hundred aud nineteen.
SEC. "a Be 1t further enacted, That the
lands, tenenents, and heredtaments of any
Bank may be taken in execution and sold at
public vendue, TO the highest bidder; and in
every such case the officer who shall levy such
execution shall be empowered to execute to-
the purchaser good deed or deeds of any such
lands, tenements or Entertainments, having FIRST
given notice of the time and place of sale, at
least fourteen days previous thereto, in two or
more public places in the town or place where
such lands or tenements lie, and also SONS
newspaper printed in the county, and if there
be no newspaper in said county, then in some
one in the city of Boston. And all deeds and
conveyances of any such lands, tenements or
herednaments duly executed as aforesaid shall
be good and etfectual in law, to transfer 10 the
purchaser, his heirs and assigns, for ever. all
the right, title and interest therein which be-
longed TO said Corporation. And the officer
who may levy any such execution shall be au-
thorized and empowered to adjourn the vendus
from time to time, not exceeding seven DAYS at
any one time, until the sale of such real estate
shall be completed. All the right title, claim
apd interest of any Bank in any lanes, tene.
ments or hereditaments, which have been or
shall be mortgaged, for security of any debt
due or assigned TO such Bank, shall be liable to
be seized and sold at public duction, in the same
manner as is prescribed for the sale and con.
veyance of the real estates of such Banks.
And any debt secured by such mortgage, and
due to such Bank at the time of the sale Of
such mortgage, shall pass by deed of convey
ance, executed by the officer who shall servo
such writ of execution, and be completely and
to all lntents and purposes, transferred to, and
vested in, such purchaser and such purchaser,
or his legal representatives, may, in his own
name, maintain any action proper to recover