Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-04-15
DOMESTIC INTELLIGENCE.
TUE ACT CONCERNING RANKS

any incorporated Bank that may have here toiore
forfeited lis charter, OF made itself liable to other
penalties by failing TO pay specie, Is hereby
renewed OF such forfeiture and other penalties.
ana Inc charters OF all such banks. with the
figh's and powers thereby conferred, shall be- and
the same are hereby declared to be IN full force and
effect.
? BE 1t further enacted That if the Bank Of Vir
gnia, the Farmers Bank of Virginia. and the
bank oil the Valley in Virginia. either of Them
shall accept the provisions of the act ncieasiur the
Banking capital OF the Common alth, passed March
the 10th, 1887 as modified by this act the bank OF
banks so accepting, shall so regulate their louus aud
discounts, as that they shall not exceed twice the
amount oil their capital stock actually paid in.
j. BE 1t further enacted. That if the stockholders
OF the Bank of the Nire mia the Farmers, Bank Of
1 Vngnla, or either OF said Banks shall not, in sixty
days alter the passage Of this act IN general
meeting 10 accept OF the provisions OF tins act aud
the act entitled !" an act, increasing the Banking
capital oi the Commonwealth" passed March the
twenty nth, eighteen hundred and thirty seven as
/ hereby modified. and notify tho Executive there
o. tho bank or banks so tang, shall not be entitled
to clam the benefit OF SAID acts And II the stock
holders oil the SAID banks either of them shall ac
cepl the provisions of the said act il shall not be
necessary Tor them 10 make any change in the mum
Der OF directors, or the mode of appointing them
until tie next annual meeting OF the okhollcs as
therein required for the election of dncctois and
lhosc who are now in office, who may hereafter
n
ONCE until their successors shall be appointed and
qualified according 10 the directions OF the snid ACT,
PROVIDED, That the Bauk OF the Valley IN Virginia
shal be subject TO all the provisions Of this section
except that she may have four months ins,eal Of SIX
~ days within which to accept the provisions Of this
act, and the act entitled " an act increasing The
bauking capital OF this Commonwealth passed
March 25lh 1887
A. BE ii further enacted, That il shall be lawful
for the Bank OF Virginia, aud the Farmers Bank of
Virginia, if said Banks shall accep, the provisions
the act entitled" an act, increasing the Banking cap
Ral OF the Commonwealth passed March the
twenty NTH, eighteen hundred and Thirty seven as
the same are modified by this act to add TO tleir
respective capitals over aud above the increase au
ihorzed by the sad act, the Bank of Virginia the
sum OF SIX hundred thousand dollars aud the Farm
efs BANK OF Virginia seven hundred and thirty five
thousand dollars but il one only of said banks shall
accept rs aforesaid, then it shall ouy he lawful for
The bank so accepting TO make such further increase
To It's capital stock. The additional stock hereby
authorised shall be raised by the president and D-
fcctors OF sad Banks or either OF thenl in the best
manner Tor tho interests of the said corporations so
that hundred dollars for each share shall be secu-
red Provided however That said bank or banks
as the case may be, shall make the distribution of
capital, and establish the branches as required by
the act, entitled " an act increasing the Banking
capital of the Commonwealth" passed March the
twenty fifth, eighteen hundred and thirty seveu and
the remainder OF additional capital to be retained
by the mother banks respectively, in the city OF
Richmond.
5. Be it further enacted, That if the Bank of Vir-
glnia shall accept the provisions Of this, and tho
eo:c recitcd act, il shall increase the capital Of the
Branch, at the town of Buchanan, by the ad
ditional sulo o! one hundred thousand dollars. part
of the additional capital of SIX hundred thousand
dollars, authorized b, this act, when the whole "a
mount thereof shall have p,cn subscribed.
9. BE il further enacted, Thai the fifteenth section
of the act, entitled an act, increasing the Banking
Capital Of the Commonwealth" pissed .',arch the
twenty filth, eighteen hundred and thirty seven be,
and the same 10 hereby repealed
7. Be it further enacted, That if the provisions Of
the last iecitei be accepted BY the Bank Of Viz
ginia, and the Farmers Bank of Virginia, il shall be
the duty of the Treasurer after the LIST OF unc 1870
to depose one thd of the public moncys in The
Office of Discount and Derosite Of the Exchange
Bank Of virginia at Richmond one third in the
Bank of Virginia and one third in the Farmers
Bank OF Virginia, IN the same manner rs is
may hereafter be prescribed by law but in the
event OF the Bank of Virginia or the Farmers Bank
of Virginia, declining to accept the provisions, Of
this and of the recited acts as herein provided,
moiety of the public moneys shall be deposited after
the expiration Of the Charter of the Bank refusing
in the of the said Banks that shall accept thereof
and the other moety in the Branch of the Exchange
Bank at Richmond, and if both said Banks decline
accepting said pi DIVISIONS then all the moneys of the
Branch of the Exchange Bank ,-proY1ed that, If
the Treasurer shall at any time have good cause to
believe that any injury will be sustained by the Com
monwealth from making such deposes continu-
ing the same, he is hereby empowered, with the
consent OF the Executive 10 remove and withhold
TIE same from either Of SAID Banks, until the meet
ing otthe Legislature, which may at all times con
troll such depostes in any manner Whatever.
9. b. it further enacted, That upon the Exccu-
tive being notified to the acceptance by the Stock
holders of the Farmers Bank oil Virginia, and OF
the Bank OF Virginia, and Banh Of the Valley in Vim
ginia either Of them, of tie provisions Of this act
herein provided the Treasurer shall proceed TO
subscribe in the name Of the Commonwealth for
the stock OF The said Banks respectively, Of the
notifying its acceptance as aforesaid, authorized
to be subscribed for on behalf of the Commonwealth
by the act. entitled "Au act increasing the Bank
ing Capital of the Commonwealth passed March
the twenty fifth, eighteen hundred and thirty seven
aud to pay for such subscription out OF the money
heretofore loaned to said Banks, and still remaining
on loan Herewith and TO that end the Treasurer shall
be, and he is hereby authorized to surrender to
said Banks Bank, into which he may subscribe as
afore said their or its obligation for the Repayment
of the money on loan aforesaid.
Q. Be il further enacted, That it shall be law
full for the Bank of the Valley in Virginia, if said
Banks shall accept the provisions OF the act entitled,
" An act increasing the Bank Capital Of the Com
monw ealth," passed March the twenty 9th, eight
teen hundred and thirty to increase ITS capt.
tai stock by the addition of the sum of one hundred
and fifty thousand dollars aud above the amount
of increased capital provided for 10y the SAID act
The additional stock hereby authorized shall be
raised by the President and Directors of said Bank
in the best manner for the interest OF said Corpora
INN G., that ON. hundred dollars for each share shall