The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1838-09-05
IPUBLIC.-No. COL

AN ACT to prevent the issuing and circu-
lation of the bills, notes, and other secu-
rites of corporations created by acrs of
Congress which have expired.
he IL enacted by the Senate and House
Of Representatives Of the United States of
america, IN Congress assembled, That in
all cases where the charter of any corpora
tlon which has been or may be created by
act of Congress of the United States shall
have expired or may hereafter expire, if n
ny director, officer or agent ofthe said cor
poratlon, or any trustee thereof, or any n
gent or officer of such trustee, or any per
son having IN his possession or under his !
control the property of the said corporation
for the purpose of paying or redeeming its
notes and obligations shall knowingly lis
sue, Reissue, or utter as money, or in any
other way knowingly put in circulation, a
ny bill, note, check, draft, or other security
purportlng to have been made by any such
corporation whose charter has expired or
10y any officer thereof, or purportng to have
been made under authority derived there
irom, or If any person or persons shall
knowingly MD aud assist in any such act,
every person so offending. shall be deemed
guilty OF n high misdemeunor, and on con-
yicllon thereof shall be punished by fine
not exceeding ten thousand dellars, or 10y
Imprisonment and confinement not less
than one year nor exceeding five years, OF
by both such fine and Imprisonment Pro-
riacd, That nolhing herein contained shall
be construed to make it unlawful for an,
person not being such director officer or a.
gent of the said corporation, or any trustee
thereof, or any agent or officer OF such trns
tee, or any person having in his possession
or under his control the property ofthe cor
pora,on for the purpose aforesaid who shal
have received or may hereafter receive sucl
bill, note, check, draft or other security, boz
ma file aud in the ordinary transactions %
business, to utter as money or otherwise
circulate the same.
Sec. 9 dnd be IL further enacted, Tha,
in all cases in which any corporation has
been or may be created by acts of Congres.
of the United States, or in which the Uni.
ted States shall have been interested as d
stockholders, the term of which corporation
has expired, and in which any bills, notes,
checks, drafts or other securities, made un-
der authority derived, or alIedged to have
been derived, from such act, shall be in the
rector, officer, or agent of the said expired
corporation, or any trustee thereof, or any
agent or officer of such trustee, or any per-
son having in his possession, or under his
control, the property of the said corpora
tions, for the purpose of paying or redeem
ing its notes and obligations, the several
circuit courts of the United States shall
have jurisdiction on the bill or petition of
the United States to grant injunctions to
prevent the issuing, re-issuing, or transfer
of any such bills, notes, checks, drafts, or
other securities /; and also to cause such Of
the said bills, notes, checks, drafts, or other
securities as have been redeemed, to be de-
llvered up and cancelled; and the said sew
eral courts shall have power to make all
necessary DEGREES and orders for the pur-
pose Of carrying into effect the jurisdiction
nerehy conferred, and to execute the same
ny due process of law.
APPROVED, July 9TH ls3a