Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1839-04-11
An ACT.

To repeal and amend certain acts respecting the
banks of this Commonwealth. passed April
{ Eth, 1899.
l. BE 1t snaefed BY the GsnsraI .fssep.
6fy, That any incorporated Bank that NAV
have heretofore forfeited its charter. or
made itse!f liable to other penalties by
failing 10 pay specie. 10 hereby relieved
oil such forfeiture and other penalties: and
the charters OF ali such banks. with the
rights and powers thereby conferred, shall
be. and The same are hereby declared, to
be IN fu,I force and effect.
:. BE IL further enocfed That ;f the
Bank OF Virginia. the Farmer Bank Of
Virginia. and the Bank Of the Valley. in
virginia, or either Of them, shall accept
the provisions Of the act Increasing the
banking capital Of the Common we alth.
passed March 25,h, 1897, rs modified bv
this act, the Bank or Banks so accepting.
shall so regulate their loans and di.counts,
as that they shall not exceed twice the
amount OF their capital stock actually paid
in.
8. BE IL further enacted, That IL the
stockholders OF the Bank OF Virginia. the
Farmers Bank Of Virginia, or either Of
sad Banks. shall not. 10 sixty days after
The passage Of this act, consent, in gene
raj meeting, 10 acccp. the provisions of
this act, and the act entitled "an act in.
ereasiog the banking capital Of the Com
mon weslth," passed March 25th, 1887.
as hereby modified. and notify the Exec.
utivs thereof, the Bank or Banks so fail
ing. shall moi be entitled 10 claim the
benefit Of said acts; and IL the siockhol-
ders Of the said Banks. or either Of them,
shall accept the provisions OF this said act,
1t shall not be necessary for them 70 make
any change IN the number Of directors,
or the mode Of appointing them. until the
next annual meeting Of the stockholders
~ therein required for the election of d.
reetors; and those who are now in Office.
or who may hereafter be appointed 10 FL
any vacancies. shall continue in Office
until their Successors shall be appointed
end qualified according 10 the d,re .tions
OF the said act; Provided. that the Bank
OF The Valley, in Virgins, shall be sub
Jeet TO all the provisions Of this section.
except that she may have four months
instead Of sixty days within which to ac-
eepi The provisions Of this act. aud The aei
ensiiled IAN act increasing the banking
eapisA Of this Common wealth." passed
March 18th. 1897.
4. BE II further saaelsd. That Il shall
be lawful for the Bank Of virginia and
the Farmers Bank Of Virgins, il said
backs shall iaecspt the provisions Of the
act entitled ian act inere asing the bank
lng esPsisl OF the CommonWeslth. passed
March 18th, le37, - the sane are mod.
ned by Tits set, 10 add 10 iheis respective
caPitals over and above the iaeFeass au.
ihoSlzsd by the said act. the Bank og
Vifginia thu sun Of $500 600. and ths
Farmsfs' Bank Of Vmsiuia. a735. 600
out u one osly Of said bsnks shall accent
a. aiofsssId, thea IL shall oaly be lawfal
for The bank 90 accepting 10 make such
iaflhsF iseFesse 20 its espiisl stock. The
additional stock hereby suthonzsd, shall
be raised BY the Prssilest sod Directors
Of said banks. OF either Of them, in the
best manner foF The interest ol said cor.
2oFaiion. 90 that 800 fos each share
shall BE- secured Provided however.
That said bank or ssnks. &c the case insy
be. shall make the disiFihuiion 81 csp,tsi
and establish The breaches - FsqsiTsd bv
The act satiiled "an act irereasiae the
backlog cspifal Of The Commonwealth %
passed March 2oih. 1891. snd The re.
msisdsT q The addi,isBsl capital 70 he 70.
tanned By ihn mother backs Fsspset;valv.
10 the City Of Riebmcpd.
,. BE u fnyfAev ssacfsd. Thss II the
Back q yiFginis shall ssssps he psovi.
'ioas q lhis and The hefsgs rscilsd aet. Il
shall iacEeass ths saviiai 81 tAs hpaash a
NE towa 81 Buekanna. 81 a. as4fa,o,.l