Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1838-10-09

SAFETY OF ITS investments, ana the prudence
of its arrangements; and the result Of eve.
ny such examination, together with the
opinion of the master and Of the chancel-
lor thereon, shall be published IN such
manner as the chancellor shall direct, who
shall make such order in respect to the ex-
penses Of such examination and publica-
ton as he may deem proper.
s 90. Such association shall on the
first Mondays Of January and July in eve.
ny year after having commenced the bu-
siness Of banking as prescribed by this act
make out and transmit TO the comptroller
in the form to be provided by him, a full
statement of the affairs of the association
verified by the oaths ofthe president or
cashier, which statement shall contain:
l. The amount of the capital stock
paidin according to the provisions of this
act or secured to be paid:
2. The value of the real estate of the
association; specifying what portion is &C.
cupied by the association as necessary to
the transaction of its business:
8. The shares Of stock held by such
association, whether absolutely or as cola
teral security; specifying each kind and
description of stock, and the number and
value of the shares ofeach:
4. Tie amount of debts due to the
association; specifying such as are due
from monied or other corporations or as
sociatons; and also specifying the amount
secured by bond and mortgage or judg-
ment; and the amount which ought to be
included in the computation of losses.
5. The amount Of debts due by such
associations; specifying such as are pay
able on demand, and such as are due
TO monied or other corporations or associa-
tons.
6. The amount ofclaims against the
association not acknowledged by it as
debts:
7. The amount of notes, bills or other
evidences Of debt issued by such assoeia-
tons:
8. The amount Of the losses of the
association: specifying whether charged
on the capital or profits, since its last pre-
ceeding statement, and its dividends de-
clared and made under the same peri
cd:
9. The average amount in each month
during the proceeding six months of the
debts due to and from the association; the
average amount ofspecie possessed by the
same during each month, and the amount
Of bills and notes issued by such associa-
ton and put in circulation as money, out
standing against the association, on the
first day Of each of the proceeding six
months:
10. The average amount in each
month during the proceeding six months
due to the association from all sharehold-
ers in the association, also the greatest
amount due to the association in each of
the proceeding six months, from all the
shareholders in such association:
II. The amount which the capital of
the said association has been inceased dur
ing the proceeding six months, if there
shall have been any increase of the said
capital; and the names of any persons
who may have become parties to the said
articles Of association, or may have with
drawn since the last report.
1t shall be the duty of the comptroller to
cause the statement required to be made
by this section, to be published in the
county where the place of business ofsuch
association is situated, and in the state pa
per; the expense Of which shall be paid by
such association.
81. If such association shall neg
lect to make out and transmit the state
ment required to be made in the last pre-
ceeding section, for one month beyond
the period when the same is required to be
made, or shall violate any of the provi-
sions ofthis act, such association may be
proceeded against and dissolved by the
court of chancery, in the same manner as
any moneyed corporation may be pro-
ceeded against and dissolved.
%. If any portion of the original
capital Of any such association shall be
Withdrawn for any purpose whatever
whilst any debts Of the association remain
unsatisfied, no dividend or profits on the
shares Of the capital stock of the associa-
ton shall hereafter be made until the def
cit of capital shall have been made good,
either by subscription of the shareholders,
or out Of the subsequently accruing pro-
fits ofthe association; and if it shall APP
pear that any such dividends have been
made, it shall be the duty of the chancel-
lor to make the necessary orders and de-
crees for closing the affairs Of the associa.
ton, and distributing It's property and eff
fects among its creditors and sharehold-
ers. Ia
60. Such association shall be La.
bic to pay the holder Of every bill or note
put in circulation as money, the payment
Of which shall have been demanded and
refused, damages for non-payment thereof
IN lieu Of Interest, at and after the rate of
fifteen per cent per annum. from the time
Of such refusal until the payment of such
evidence Of debt and the damages there's
an sTa
so. The president and cashier Of
every association formed pursuant b the
provisions Of this act, shall at all times keep
afrue and correct list of the names Of the
shareholders Of such association and shall
file acopy Of such list il the efice Of the
clerk Of the county where any Office of
such association may be located, and also
ia the Office Of the Comptroller, on the
first Mondays Of January and July II eve
rY year.
81. 1t shall not Be lawful for any
association formed under the provisions Of
this aca, to make any 81 rs bills Or notes
of denomination less than Que thonsand
dollars, TO Be put 10 circulation IS money,