Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1837-07-03
Thr House then adjourned
ACTS PASSED EN- TIE LAST LEGISLA-
IT RE.
IN net torhe t1mporuy R'htf othc B1"hs t.his
Commonwealth, and tor otle, purposes.
Passed June - la37.l

Passed June ~ lS37.
l. BE II enartelbyt5t GeH,roI .i,s,a,biy, That so
much OF all ~ any acts Is now do, or hereafter may
subject amy Bank OF Banking Company incorporated
by the laws of this Conunwe alth, now IN operation,
to the forfeiture OF It's charter for failing OF refusing
To pay redeem lis notes 81 debts specie, aud
winch subject such Bank OF Banking Company.
for any such failure refusal, to the payment oi any
damages, any higher rate OF interest than siA
per ccnum per annum upon any note or debt, shall
be- aud the same are hrrb, suspended until the first
day Of March. eighteen hundred and thirty eight
and If any such }ank 81 Banking Company shall
have forfeited ITS charter b, ailIn. refusing Ia pa,
IN specie note OF oth1r debt due from such Bah.
the forfeiture thereby incurred shall be reunited
and the charter OF such Bank, with all the rights md
power, thereby conferred, except such portions
thereof are herein before suspended, shall be, and
the same hereby declared to be IN full force and
effect, to all ntcnls aud purposes, until the date be
fore mentioned Prord,d. That nothing herein
| contained shall ho construed ~ To prevent the
recovery III the amount ot any note 81 debt due from
an, Bank oi banking Company, with legal interest
thereon, in the mode prescribed b. law.
| >. and BIZ II further .aact,d That the notes OF the
several Banks Inch have been heretofore required To
be received IN payment ot laNrs and debts due 10
the Communw shall continue tn be received
and the deposites OF the public revenue shall contin-
uc to be made IN the Bank OF Virginia and the Ear
mers Bank ol Virginia. until the period herein be
fore mentioned, unless the Treasurer, with the ad-
vice of he Executive. shall direct otherwise IN respect
to such receipts depostes, or both, ~ the mode
prescribed by Law.
| 3. ind be II tartbs, rn7c'cd, That every bank
which shall avail itself OF the provisions oi this act
shall so regulate loans and discounts as that the
whole amount thereof ON the FIRST day oi March
eighteen hundred aud thirty eight, shall not exceed
the an cunt on the first day OF the present month
! Uune): and the Northwestern Bank NAV increase
It's loans and discounts ~ The amount OF any aug
mcntation of It's capital actually paid III, which ma,
be made under the authority OF an az. entitled andc
increasing the Banking Capital. OF the Common
wealth." passed March the twenty filth, ciglieeI
hundred and thlty-seycn and TIL other Banks o
the Comma uwealih shall moreover refrain from ma
king any dividend exceeding SIX pei centnm per an
mum stock until such bank shall have bona td
resumed specie payments.
I. ANIL be II turticr eaactcd That every Banl
which shall avail itself oil the provisions oi this act
shall furnish the Executive once III every two months
Il a statement of lis condition oath Of the Presiden
or Cashier, showing the changes which may has
taken place since the period aforesaid, aud the amour
OF bad and doubtful debt which may have accrued
or shall have been ascertaned, and the SAID saemen
! shall be published,
, ). b. II further eRdrtt9 That 50 much OF I'll
\oro,lslons OF the act enled " An act Increasing tn