Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1838-04-11

RELIEF RANK BILL,
The House Of Delegates were occu.
ped for considerable time yesterday,
in discussing the amendments from the
Senate to their btu concerning the
Banks Of this Commonwealth, and for
other purposes. The bill has again
gone up TO the Senate, with some of
their amendments, amended by the
House. The Senate had not passed
upon them when this article was writ.
ten. eve understand, il is laid over
until te.day.) We shall publish the
whole act as soon as il passes. Ii sas.
Ponds until The FIRST OF April, 1889, $50
much OF any act or acts as slaY sub.
Ject any Bank or nnnking Company,
now incorporated by law, and in actu.
al operation as u Bank, 10 the forfeit.
ure of It's charter for failing TO pay or
redeem It's notes, o: debts IN specie,
and which may subject such ank or
Banking Company TO the payment of
any damages or rate Of Interest cxcee-
ding six per cent. per annu,n, for so
falling OF refusing 10 pay or redeem It's
notes and debts in specie" and /" If
any such Bank or Banking Company
shall have forfeited its charter by fail.
ms or refusing 10 pay or redeem its
notes or debts as aforesaid, the forfeit
iure thereby incurred shall be remit
ted, aud the charter OF the Bank, with
all the rights and powers therein con.
terred, shall be, and the same is hereby
TO all nten,s and purposes: Proridcd,
that the amount of any note or debt
due from any Bank or Banking Com.
pany, with legal interest thereon, may
DO recovered IN any OF the modes now
authorized by law" Il further pro-
vides, that every Bank in this Com.
monwealth may, from its nett profits,
declare dividend ON It's capital stock
not exceeding three per contum, previ-
Gus 10 the LIST day OF August next, bat
shall make no dividend thereafter; IL
II shall fail OF refuse TO pay or redeem
lis notes or debts IN specie, every such
Bank or Banking Company, shall be
bound aud liable to pay interest there-
on, al the rate Of ten per ceniunl, to be
recovered III any Of lie modes ia which
the amount OF any note or debt due
from any Bank nay now be reco-
gerable by la" ;--any thing herein
contained 10 the contrary notwillstan.
ding"
1t provides that every Bank, which
avail. Z" itself u the provisions OF this
Act shall so regulate It's loans and
discounts, as that The amount Of its
outstanding debt on the LIST Of January,
1889, shall not exceed the amount OF
lis debt outstanding on the Isl Of Jun.
uary, 1888"
The Senate engrafod upon it, some
important amendments, which. were
amended by The House among these,
is provision "ihat it saail be tho du-
~ of the several chartered banks Of
this State now 10 operation to issue bulls
or notes Of the denomination Of one
dollar and two dollars, to an amount
mol Tess han tmo nor more than four
per cent. upon their respective capitals
until The firsi day OF April, 1880. after
which this authority shall ceuse and
determine"
1t has these further provisions, "thai
if any Bank shall ieil to pay IN specie |
any note issued by il in virtue Of this |
section, when duly presented for pay
menl, it shall be lawful for The holder
Of any such note or notes TO recover
the amount thereof with twenty-five
per cent. damages on the same, by |
warrant before a justice OF the peace.
And provided, moreover, that wheney-
CIR the banks aforesaid shall resume
the payment IN specie Of all Of their
notes, the power given 10 them by Tins
5 clion to issue notes of the dsnomDa
ion of one and two dollars shall wtfhtn
40 days thereafter cease and deter
nine"
The House yesterday passed very
bill--provlding for a further
to the Baltimore and Ohio
Railroad. 1t passed by majority oil
thirteen. II provides for subscription
On behalf of this Commonwealth, one
million flty-oigbt thousand four hund-
red a. twenty dollars--but not a cent
$ to be paid by the State until the Road
S completed to Cumberland--and until
he town Of Wheeling has paid up a
subscription of one million. Il
From the National ihielligeneer.