Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1839-04-25
Q . M ~ wuae ar rOws. .


ihS bANkS-EhEDk CHART ENS-
IL is my purpose 10 can The aiisntioa Of she
People Of Virginia 90 The late Act OF our Lrxss-
Eatnrc on the subject Of The Banks in this STATE
would akk the People Of viryinia-I would
ash the Stockholders cf the Bank of Virgins. Of
the Psrmers' Bank Of Virginia, Of the Bank Of
che Valley in Virginia. are yoa aware Of the
tenure by which the above named Banks nov
hold their charteSs II seems 10 me that there
n great deiusson on the subject have con-
vcrsed with number &c gentlemen Who mink
thai those Banks are eaiisied 10 the benefit Of so
mach of slse isse Acs, ps-s-d Apvsi lsh 1919. a.
relieves them from tho forscitures and penalties
incurred ~ Their having stopped specie pay
ncnts, without complying with, ar being subject
20 ihc terms and eoadiiions imposed by the rrsf
Of the Act in other words, IL seems = Be- rrn-
orally thought that the Charsers Of hose Banks
are uncondifionaiIy restored By the late Act |;
and hat the ooiy eGect q The non-seceptznce by
the Banks Of The psovissoos az the Act Of March
~ 1881. ana of ske late Aes. viii Be, that
sheir pseseat Chsrieu viii expire in 1912, and
thai ihey viii pgobabiy Be Obliged 10 call IN i'm
mediaiely. and pay 10 the State the rsooey loan
ed 10 them out OF what IL called s.the Surplus
Revenue" fund ;and \ hope is ersertn1upJ. that
before 1914 ano,her Lcgisiaiuss viii extend The
Charters 90 b<fi<r krms- =
Let rs look back 10 the period OF the stopping
OF The payment Of specie By The Banks, and con-
sidcr the eopxqncnccs Of IL.
BY the refusal 20 pay specie for heir notes the
CHARTERS Of thr Banks were CrJsifsi. and those
c~poraiions wcre, ipso faeso. dissoirei. BY So
vsrai Aessof the General Assembly. passed since
that foffei31rc Of their Charters the Banks were
authorised fon time TO time. for limited periods.
20 carry on their banking operations. no,wiih-
standing the forfeiture. The lasf Of those tenn
porary Acfs was papscd about Inc 6rst,of this
month Capri. is39) extending The privilege fhir-
~ days ande GaaIly. the General Aci Of the 9Th
APns shseA we are nos eoasidsring. was pass
Iqao,e tAc Isl and ID sections Of tia, Act. as
follouss- -
"f.. Nc q ssa<isi b. Tia csnsrsI iss<u,bis. Thai
any incorporated Bank that may have heretofore
Forfeited iiseharter, made itself liable to other
penalties by faiiag Io pay specie, Is hereby re-
the charters Of ali snch banks. with the rights
and powers thereby conferred. shall be. and the
same are hereby declared, TO be IN fall force and
eGeci.-
-. BsaCssfhsr Thar Tbs s,oekhold-
ers of the Bank Of Virginia. the FArners' Bank
OF Virginia, OF either Of said Banks shal not, in
sixty days after The passage &C his act, consent,
IN general meeting, 10 scecpt the provisions OF
ms at, and The act eniited .san Get increasing
the b1nking capital Of the Common We aTih. -
passed March 2Jsh, ls37, as hereby modified,
and noufy The Exseutive thereof, ne Bank OF
Banks 30 failing, shall net be emitted TO claim
ihe bene6i Of said acts andif The stockholders
q NE said Banks, or either of thetn shall accept
The provisions This said aef IL shall not be ne
cessary for ihcrnt make sny change in The num-
Der Of dirsctorss or the mode OF appointing thrn,
until the next annual rnertinx Of tihe s,ockhold-
era as therein required for The election of direc-
tors; and those sho are now in ofice, OF who
may hereafier be apPcin;ed tn Gil any vacancies,
SHAH eonfinne IN Office until their successors saIl
be. appointed and qualified. according TO the d.
recfions Of The said act Provided, that the Bank
OF the Valley IN Virginia, shail be subject TO all
No Tnsreaa Cf 81 -
may have foar rnonshs instead 81 SIXTY DAYS
within which TO accrrl 10 erovisicns cfthis act
and the act entitled san aef decreasing the bank
ing capital efthis connaPvealth.' passed March
25sh, 1877
II appsars by the frss section. that the Banks
are relieved from the forfesares and penalties
incuFyed 81 their having failed 20 paw specie,
and their Charters are decl1redto be IN fuulorce
Bui the thtfd section declares that II the Bank
OF Virginia and the Farmer Bank OF Virginia
within sixty days, and the RanlAof fhe Valley in
Virginia, within -four months after the passage
81 the Act. do not consent 'to accept the proyi-
:" sions OF this Act. and the Ac; eniszIed an sAc;
. decreasing the banking capital OF the Com
mooweAlih' passed March IS, 1897 &c, "tAs
Bank or Basks 30 Jsiiag, shall s.of 81 entitled "a
claims The bea.ff # said .fcts"
IL IS my object TO call The attention Of tie pab-
he 70 ihe snblcci. and not to eniarge 90 il. my.
SELL But wih point ouf .ome Of the PRINCIPAL
consequence q . failure, by The Banks, 10 accept
Of the provisions OF the Acis above referred TO-
IL the time limited for The acceptance q the
provisions Of Aose Acts pass BY, without snsh
acceptance. The Banks viii have lost their Char.
ters and wiz be compelled by their legal otiiza.
tons, Co wi-d up heir concerns forthwith
Are the People Of Virginia prepared TO pay
mp The editions Of dollsss which they ONE 10 these
Baakss
ir after the failure TO accep, the islons OF
the Aes within ths prescribed tine. eng siagE.
Bsskiax epeTafion. beyoaA that Of eoIiecsing and
paying debts. be performed By the-Ban<s, thev
wall thea stand % abs fSaiing OF unehsstered
Bznks. and ever debt due 60 saeh Banks VII be
rstsEiE sell and ssffg every soie or bill thereto
9ere dl>ecented. p,n be reid. and pawn eni can
not be eascrced IN any cosn in the Common
wealth.
Asethe Stockholders prepared 70 risk such a
penaitys CAUTION.
April, Ie39.
Az ERR08 6oRRnOTED.
MWEssHs. EDlToRs--Yo,. esq swsrs tina,
4V1 The frssbyssFisa chufeA. n abe Unissd
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