South Branch intelligencer. [volume] (Romney, Va. [W. Va.]) 1830-1896, 1837-04-01


sat or adjourned to, unless such place
be in possession of public enemy, or
infected with the plagiie or small pox,
in which case, they shall meet at such
other place as the Governor shall ap-
point and notify by proclamation. This
act shall be in force from its passing.
Passed March I7tA, 1887
The BANK BILL.
The bill passed the House of Delegates on
Saturday, by vote of 73 to 80. AS the pub
lie have taken deep interest in the question,
we lay before them the following outlines of
the bill, for which, we are indebted to yester-
days Compiler:
"The bill provides for an Independent Bank
at Norfolk with capital of one million eight
hundred thousand dollars, to be subject to the
restrictions Of the bill for the general regula-
tons of Banking. The Bank to be called the
Exchange Bank of Virginia.
s<The Bank at Norfolk to establish three
Branches,-one at Richmond, with d capital
of $500, 000-one at Petersburg with capital
of $500, 900, and one at Clarksville,! with
capital of 100000. There is a rtovision in
the clause establishing these branches, which
prohibits the mother Bank at Norfolk from
withdrawing from either of the Branches, a
nv Dart of their capital, and it also requires
that the President and Directors shall, imme
diately after declaring each semi annual divi
Idend, restore to the Branches any surplus pro-
fits which NAV have accrued, to be retained
to meet any losses which they may have sus-
tanned.
'sThe Bank Of Virginia to increase its capt.
tai stock $500 ,000-S650j000 ofwhichis new
stock, and the Bank I'd convert $3.50, 900 Of its
surplus profits into stock.-The whole to be
divided as follows Branch at Lynchburg
$3.50. O0O-at Charleston 5000, 0o0-at Fred
ericksburg $50 ,OO0-and at Danville $4,000
An office of Discount and Deposite to be
created at Portsmouth, with capital Of $780,
900. .;,
"The Farmers Bank of Virginia to increase
its capital 81, 0lO, 00O-$S25, 900 of which is
new stock, and $4,000 of its surplus profits
to be converted into stock. The increase to
be divided as follows: the Mother Bank to
retain $40 900, the Branch at Petersburg is
to have 1872, OO0-at Lynchburg, 1912, 500
at Fredericksburg, SIP, 500-at Winchester,
Ss62, 50O-S at Dahville, $50, OO0-2oflices of
Discount and Dsposite are to be created AT
Farmville, with capital of $20O,000-at
Scoftsville or Charlottesville, as the stockhol-
ders may elect, with capital Of $3.50, 000--
- /! {ba
ana one az Ao,ns ser, With CANAL 6f Sl5O
200.
"The Bank Of the Valley. to increase its
capital stock $780, 900, the State to. take one
I h ths R r. @The inetease to be divided as
follows.-The Mother Bank to retain $780,
600 Office at Leesbarg, $3.50; ooo-at Charles
town. $50 ,ooojat hommey, Ss? ;;b c,n;taI
oes s, % " ooo. at Warrenton Fauouier with
ean ,i Of ssis5. 900.
"The North Western Bank Of Vir-
GINA at Wheeling to increase its CAPT
tai stock $500, OO0-the State to take
one moiety and the bank to dispose ct
the other. The increase to be divided
as folloWs:-The Bank at Wheeung 70
retain $3l5, 0O0-and the the BIanch az
Wellsburg to have $50, wv. "A branch
is to be established at parkerspurg,
in the county OF wood, with capital
of S 100, 900. :.
"The Merchants and Mechanics
Bank of Wheeling to increase its capl-
tai $500, 000.-The State to take hall
the stock and the bank to dispose OF
the other.-The Bank to retain S22O,-
000-and the office at Morgant own TO
have $e0, 600.
"The Banks are required to divide
their surplus fund among their several
Offices, by equal instalments, proper
toned to the losses incurred at the
principal Bank and each Office, so that