The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1840-11-17

ne"AI "l Nv - W." a. ,,h ,ho ,rensur-
from the unie ~ us rehcWa', WIG WI" W" ar Mn.
az the cla'r '''Unrl'e u"''' Wv Nth tte
corporation, FcVhS ''I" ~" ''J ,I. sum So
capital sock ~ I" n' r'G,'''" r iG,,tr shall
crrl!i"d, airr Nia "'Us 81 S" ~, mimi srnrk orl
be tnkeu to be taG Hnionhl OF '"o e"I''"'
such bHuk i,., .,,oL oC,,v h,nk
$50. Il. N" phft o. we o'P " 80 ,.y,ich !,
shall, nj any n''', W., s ~ nr,,inns be
Withdrawn from such bank .,, Of
'SEc.7 the 9''cN, ro'P't,y "'n a., ,n"dncc,rd
every s"ch ohHN' @i''" "T ".N"'a "" in such
by directors I" su'h hn'!"er' n'u Ppuu J,roct
manner ~ the act ~ 'nc"r"r"'''i N', ~ ,he
who shall be sinckh,d'r' ava 'h""",'a, nrr
state, and shall h"li Iher oli"tS W. a;nritv n,
appointed aid qnN itch ~ acl anu ,,JJ . ,n
the directors sn'/ be require" y" w.
rum. ,L.hoIl hc ,;,hl
SEC 8 The hiFcct"r"oI my SUI III, tt,,
pay tho cred'I"rsand s"ck ''p'aeIs "
nll losses Whlch':;hi DC s"s.'i"e" !" ~
ct any vIo'an"n, ny ue'"' W WV y. c;rr, g.;
nct, or any Other taw or o,ner una'Ih'un'sS III
The discharge {" lh'r ""',h' "u.'.H a1'n a"y
dion by any cIAimn"' under the provision o' '"'s
section, , ,.,. -
SEC. 8. Further to secure the Liabilities men
toncd in the eighth section each o. inc DIRECTORS
shall execute bond 10 tho treasurer "i t'e ",ale
in equal amount, The aggregate amount ~ "hlch
bonds shall be equal to the xwouht OF inc cafuh'
stock actually paid IN, WIN conhi'l"h '"T 'ie
payment and discharge of the 'IahliItIes mention
cd IN SAID eighth section ! and such bonds shhi he
secured by or more sufficient sure,'e", RESIDING
in this State aud not directors, or ny s"'nc'e"t
mortgage o! real estate, IN be exan';hh and apprn-
@1 BY the |a nm nav be I%" ]
e. ,h -" hone6I C,ny claimants under the prnvs.
;,r A., ;t,l ,tao,in,
'ts W t ~ NJ r"o,nr cha II cuter uoon ar dis
L ,,"o 'n, ~ 40 J,; IF hi. az nor shall the
-, 'o,;,, ',,,,;l e,cI, hond. sb,tl have
ao"n ooyocn,od md ,nnrnvcd as mentioned in The
~ ,c. '' "fF'''
P'tceu''s seo''." r. ,, ,,.. h,yo mid
- N"y u,,' ~ h,i;,;s pyomt;nn.t ~
-; 80 i,,, such n,hsr Lircc,ors 40
~ 'H' no ~ t rI,', xii ,beir GrII sharcs
's e, ~ i I:.s,,,.a Tnr Ln;,x ,,,Ii6aJ -,
"Ec' ne ".re o,1,' ra ",' ~ i nav
"1' d" SUI, ~ i ,hor N he orosident orsuch
ppT'"' wy W. ANA rn'nove nj u,ea,ure
oa% '' I } Ilns nanossa,y Ulcers and srrv
N"."'e' c t. "; ..a ~, ami NAV n,,ko ou
"nas ",u Ia '',.' i , i,i,,ne ,,,, incorsi.ynn,
necessary ~" or no lnws If Ills
So ,'n ', ~, "oa ,,,'
N'n'"' ~, - So" 49, ! l,;. ~ ,h ,.,.or,i "a;
L. "' c"''h"'' an" ""''s " WV ''|'1' '''
FHeTs ga, , r L,t ,a ,L
d. h"c n!,"s an" P'".'' w. '' r,1S' H." .',
m1nher OF h"tiNi" '''e "'Fo'"s' W ''' '''I'''"
ana OF me corporation
>. ne terms ana co""N"lS on "'ici ",; ,:"''
ana al counts sha'' %" mace, an" ","e' "Ns'''t'"S
oil the c"fp"ra''"ns sha'' no ''T''fht,e" -
Inc disposition o. the S'o'N' property ana
ehec'S o. soiu corporate" CIT
D. me ehcuoh OF c"cNl"'' ""o "''hs '"C'"
c'es an th m n'nrr o.,,.,-u e,. ~, or,,.
Ana All o'hef r"Su'h,'"'.S 'er'ES''y 'o' ''e P,'p
"eF management o me business t mo """''' anu |"
carry into effect the Pun poses OF MS incorporation.
SEC 10 ne cashier OF 'ne oa'H sna' ue re
Zee 10 gfys Bona 10 {6A on f d 6r ~ ms o1
with sufficient suretes to he approved Nv the hank
commissioner in the sum Of not less than twenty
thousand dollars, conditioned for the faithful dis
charge of the duties Of his office which shall be
f6r tie security, and may be prosecuted for the
benefit not ONLY O. the rorpc ration but Of all 9th
ers interested
Sro ii. ANY such bank may loan mud negoci-
ate its money aud effects by dscounting on bank.
ing princpias upon such securv as The directors
shall deem exppdient and dividends of the profts
of lhe bank may he made by the directors everv
six months
SEC Is. Suol, corporation shalt not receive or
demand any creator interest or discount on any
cote draft or secnrity than at the rate Of elk pcr
cent per annnm hut such interest or discount NAV
be calculated nd taken according 10 the establish.
cd rules of banking
SEC. It, No such corporation shall directly or
indirectly, employ it's moneys in trade or com.
merce, or deal or trnde in Suving selling any
goods, chaules, wares, or merchnndize; provided
that such CORPORATION may sell all kinds OF property
which shall into its possession in the or lima.
ry collection of lila debts.
SEC. IL No Stockholdor, director, or other Of
rhcer, shall AT any ono time be, either directly or
indirectly, indebted to the bank. in greater