Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1837-05-17

Il
$3.50, 900; at Charleston 100000;
at Fredericksburg $4,000; and new
branch TO be established at Portsmouth,
within four months after the stock ID
raised, with capital of S350,000.
The Farmers Bank Of Virginia to in.
crease its capital by the addition of one
million ten thousand dollars; the State
TO take one moiety, and the residue to
be raised IN like manner as provided
for the Virginia Bank the new stock
to be divided between the bank and
branches; at Richmond 100000; at
Petersburg So, 800; at Lynchburg
S212, 800; at Fredericksburg SIIa,
500; at Winchester &c., 500; at Dam
| vile $50, 900; and new branches to be
established, within six months, at Farm.
vile with 100000; at Scottsville or
Charlottesville, as the stockholders
may elect, with $4,000; and at Alb.
ingdon or Evansham with $4,000.
The Bank Of The Valley to increase its
capital by the addition Of S740,000
the State to take one moiety, and the
residue to be raised as by the other
banks; the new stock TO be divided
between the bank and branches at
Winchester $3.50 900; at Leesburg
$50, 900 at Charlestown $50, 900; at
Romney $05,000; and new branches
to be established, within six months at
Staunton with 5000, 900; and at War.
| renton with $l35,000. The North
| western Bank TO increase its capital by
the addition Of $500 900; the State To-
take one moiety, and the residue as
provided for by the other banks; the
new stock to be divided between the
bank and its branches, at Wheeling
1915, 900; and at Wellsburg $65, 900;
and new branch to be established,
within six months, at Parkersburg with
100000. The Merchants and Ne
chanics Bank Of Wheeling to increase
its capital by the addition Of $500, 900;
the State to take one moity, and the
residue to be raised as aforesaid tho
new stock to be divided between the
bank and its branches at Wheeling
$3.50, 900, and at Morgantown $780,
900. Upon the acceptance of this act
| by the old banks, their surplus funds
are to be divided among their several
offices, by equal semi.gnpual install
ments, proportional to the losses of the
parent bank and its branches; the dis
tribution to be completed by the first
Of June, 1910. The capital Of the
Bank Of Virginia to be distributed, at
Richmond 1,250,000 dollars al Nor.
folk 100000 at Portsmouth $50, 700
dollars; at Petersburg 100000 dol
lars; at Lynchburg 100000 dollars;
at Danvile 200,000 dellars at Bucb-
anan 100000 dollars; and at Charles
ton $50, 900 dollars. OF the Farmers
Bank, at Richmond 100000; at Nor
folk 100000 dollars; at Petersburg
100000 dollars: at Lynchburg $780,
900 dollars at Fredericksburg $780,
900 dollars; at Winchester 100000;
at Danvile 100000 dollars; at Abing-
don or Evansham $50, 900 dollars; at
Farmville 900 dolls; and at Char
lottesvile or Scottsville 100000. OF
the Bank of the Valley, at Winchester
450, 900 dollars; at Leesburg go 900
dollars at Charlestown 1000 dol
lars; at Romney 225,000 dollars; at
S,aunton 200, 900; at Warrenton 1885,
900 dolls. OF the North. western Bank
at Wheeling $40, 900 dollars; at Wells
burg l60, 900 dollars at Parkersburg
100,00 dollars. And of the Merch-
ants and Mechanics Bank at Wheel.
ing 100000 dollars at Morgantown
100, 900. The directors ofeach branch
to appoint the cashier and other off,
GERS. The subscriptions by the State
to be made by the Treasurer.
A bonus to the State is required from
the new stock created equal to the
amount required by the general act 70.
gulating banks, and after the expira-
ton Of the charters of the old banks,
the whole stock to pay semi. annually
the same amount; the charters of the
old banks accepting the terms Of the
act to be extended until the first Of
April, 1857, except the 9th section of
the Virginia bank charter, and so much
of the present charters as are contrary
TO the general act. Suspends the ope-
ration Of SO much Of the general act as
prohibits the banks from issuing notes
of less denomination than $40, until
the LIST Of October, 1887, the Exchange
Bank Of Norfolk being excepted from
this provision. Authorises the Farm
ers' Bank of Virginia to retain as part
OF its increased capital out of its sur
plus profits 1876, 900, and the Bank Of
Virginia 10000 dollars. If either Of
these two last banks refuse to accept
this act as their charter, the whole in
crease allowed the one refusing, to go
TO the other; either bank accepting TO
establish all the branches provided for
| both and if both refuse. then the Ex-