The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1837-05-27


act of assembly would operate too severely
on Their profitable investments, by annullinp
Their charters. The following sections of
the act of 25th March, 1924, may be inter
esung at this time to majority Of our rea-
'ders.- See Perdon's Digest, page l1O.1
ART. XVIII. The said banks shall NOT
at any time suspend or refuse payment in
gold or silver, of any of their notes. bills.
or obligations, nor of any moneys received
upon deposite in the said banks; and the
cashier tsald banks respectively shall, when
received, give certificate of the time and
amount ofsevery such deposite, to the per-
son who makes the same, yor his, her. or
ther legal representatives. And if any of
the SAID banks shall at any time, refuse or
neglect to pay on demand, in gold or silver.
any bill, note, or obligation issued by such
bank, according to the contract, promise,
'or understanding therein expressed, or shall
neglect or refuse to pay on demand, in uoll
or silver as aforesaid, any monevs received
in such bank On deposite, except in the
case OF special deposites where the contract
Is dl1erent' to the person or persons enti-
ued 10 receive the same, then, and in every
sueh case, the holder of such note, bill, or
obligation, or the person or persons enti-
tied to demand and receive such moneys as
aforesaid, shall respectively be entitled to
receive and recover interest on the said bills,
notes, obligations, or moneys, until the
same shall be fully paid and satisfied, at
the rate OF six per cent. per annum, from
the time OF snch demand as aforesaid. And
1t shall be the duty of the president or cash
Ter OF the said several banks, and he is here
by required to make, at the time of demand
being made for the payment of any note,
bill, or obligation, or any money deposited
as aforesaid, they payment ofwhich in gold
or silver, shall have been refused, an in
dorsement on the said note, bill, obligation,
or certificate, setting forth the day and year
when the payment thereof was demanded,
and subscribe his name thereto. And in
case the said president or cashier shall E.
yade,' neglect, or refuse making such en-
dorsement at the time, and in the manner
hereinbefore required, he shall forfeit and
pay TO the holder of such note, bill, obliga-
ton, or certificate, the sum of twenty-five
dollars, to be recovered in the same manner
as debts of like amount are, or may be by
law recoverable: Provided, that no holder
Of. any such note, bill, obligation, or certifi-
cate, shall be entitled to the said interest
for a longer period than three months, by
virtue of any such Endorsement, unless
upon subsequent demand at or after the
expiration of the said three months, pay
ment shall be again neglected or refused, in
which case he or she shall be entitled to
the said interest from the date of the first
Endorsement, until three months after the
expiration of the last Endorsement, and the
holder of any such note, bill, obligation, or
certificate, is hereby authorised to demand
payment of the same, at and after the ex-
piration of the last Endorsement, and the
holder of any such note, bill, obligation, or
certificate, is hereby authorised to demand
payment of the same, at and after the ex-
piration of every three months from and
preceding the demand and refusal; and the
date of the second and every subsequent de-
mand or neglect, or refusal to pay, shall be
indorsed by the president or cashier on the
note, bill, obligation, or certificate, in man.
ner aforesaid, and under the same penalty
for refusal that is prescribed in the prece-
ding part Of this article. And in case the
holder of any such note, bill, obligation, or
certificate, or his, or her executors, admin
against any of the said banks for the re-
cOvery of the amount due from the same,
then the said interest of six per cent. shall
be recovered on the said amount until it is
paid and satisfied, without any further de-
mand being made Of such bank: Provided,
that nothing in this act shall be construed to
prevent any bank from redeeming its own
notes with the notes Of any other bank, in
whose behalf the same shall be presented
for payment ...
ART. XIX. Upon the refusal of any of
The said banks to pay any ofits notes, bills,
obligations, or deposite moneys, in gold or
silver, at or after the expiration Of three
months from the time of the first refusal of
such bank to pay as aforesaid, it shall and
may be lawful for the holder or proprietor
the same TO make application, in writing,
10 any judge of amy court, in the proper
county, to allow him or her to make proof
of said refusal, on oath or affirmation, by
one or more disinterested witness or wit
nesses, before said judge, whose duty il
shall be to give at least ten days notice'to the
president or cashier of such bank, of the
time and place of making such proof, in Or
der that an opportunity may be afforded for
81