Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-03-27

shall be, and the same ID HeltDy 49,
,b charter of the Bank with all the rights and powers
ba,o;n conferred shall be- and The same is hereby ae
clorcd 10 be in full force and effect tc all inieh's anu
nurnoses until The end Of tie next session OF the
scmblv: Pr0ridcd, That the amount oi any noc OF deo'
dns from any Bank with legal interest thereon, may
be recovered IN any OF tHe hioues Nv"
law. NJ, a., $500 :, ,ha
p,nts which are now receivable in payment OF debts
aud taxes due to the Commonwealth, shall continue 10
he received until otherwise provided by law ana te
o,os.os of the public revenue shall continue 10 DC
made in the Bank of Virginia and Farmers BANK OF
VIRGINIA unless the Executive shall otherwise deet
in respcct to such receipts depostes, or both ID e
mode now prescribed by LAWN which case, IL shall &c
awful for the Treasurer with the sanction OF Inc Exc
cn,ire to provide for the safe keeping OF the pubic re-
vcnues and monies in the Treasury of the State and
thcrcupon all such monies shall be paid into and out OF
T the Treasury by Auditors warrant, requiring inc
Treasurer to receive TO pay the same, without max
ino any dcposite thereof in any Bank, or drawing
check on any Bank, as is now required BY law.
q and GcH further enacted, That very Bank which
shall avail itself of the provisions OF tins act sa!i make
No dividend exceeding six per cent per annu unless
r shall for one month previously thereto, have boaa
fir resumed specie payments; and moreover, every
such Bank shall regulate its loans and discounts
NJ that the amount of its outstanding debt, on the
FIRST dsy of January l64l unless shall have so re-
sumrd specie payments, shall not exceed the amount
thereof as it existed the first day of Jan, lSl0
4 ind be Il further enacted, That hereafter the annu-
al meeting of TIC stockholders c. The Farmers Bank OF
Virginia shall be held the Wednesdays after the hfst
Tuesdays in January every year.
= ard be farther enacted, That hereafter The oath
which is required to be taken by the Directors of the
several Banks not to engage III The purchase OF any
note or bill which has been rejected by the Bank, sha!
be so modified and changed that the Director shall
swear or solcmnly affirm that he will not directly nor
indirectly dscoun. or purchase a rate of interest
cccding that which the Bank might demand, any note
or bill Of which the discount has been rejected by the
Bank or Branch of which he is Director, and upon
taking such oath the Director shall be and he Is hereby
absolved, TO all ntcnts and purposes, from the obga-
tons of his former oath.
g. Ind be IL further enacted, That bills, drafts,
notes. or other evidence of debt payable at the Bank,
discountiag or negotiating the same; or elsewhere,
shall be discounted negotiated, unless the same be
actually submitted to- and passed by the Board of Di-
rcctors constituted according 10 law.
l. Belt further enacted, That it shall not be lawful
for any Bank discount any note or bill made or drawn
b. any Director thereof and endorsed or accepted by
any other Director, at the same Board and which may
have been made to be discounted for the accommoda
ton of either of them, for any other person what
ever but every such bill note, if discounted shall
, nevertheless be binding on the parties
And Hhcrc0s, the remedy By motion upon ten days
notice against the Banks of this State for falling TO pay
specie is cumulative merely and designed 10 operate
upon the Banks pabe elnquens, and not as de-
inquents in consequence OF unlookcdior exrgenccs:
, therefore,
g BE it further cnacicd, That the remedy against the
Banks of this State by motion upon ten days notice,
shall be- and is hereby suspended until the ls day OF
January next, l.,..g t!S any other act Ia
the contrary notwithstanding; Prordcd, however, that
this section shall not be construed to apply TO any
pending motion, to any in which demand OF
payment has been heretofore made and refused.
{ q Bet further cnacied That the Banks OF the Com
monwealth shall not payment or on deposIte
from and after the first day of April next, the Bank
notes of any Bank located without this State, OF de-
nomination below ten dollars.
10 BE ii jurthcr cnncied, That no bank taking the
benefit OF this act, shall issue put into circulation
any bond, note bill draft. other evidence "i debt
which not payable demand; and If any officer OF
either OF the sad Banks, shall violate the provisions
of this section he shall forfeit and pay the Of one
hundred dollars for each offence, TO be recovered "r
the Of the Literary Fund, by amy person who w
sue for the same.
And Ehcrcas, it appears that of the Banks Of
this Commonwealth have occasionally rc-issned thciI
own under the denomination OF i've dollars, an
i act prohibited by their charter; therefore,
| H. BE IL further enacted, That any officer of any
Bank oil this Commonwealth, wfuy and knowingly
violating the charter thereof i'll tins particular, shall be
instantly dismissed from the service OF such Bank and
if any President, Cashier, Director, having the
power, on coming TO the knowledge that such officer
ressucd such Bank notes. shall refuse or neglect
dismiss such officer, such President, Cashier or Drec-
tor shall each be liable TO prosecution, as Tor n!'sdc
mcanor and vicon be fined ioE every offence the
sum OF five hundred dollars, and be incgi
bic for three said office of President Cashier,
or Director rs tho case may be.
-. BE il further enacted, That the number of Di-
rectors of the several Offices of discount and depose OF
the Bank Of the Valley Virginia shall be, and IS hereby
increased to nine instead Of the number prescribed
by law of the said directors four shall be appointed by
the Executive, in behalf of the Commonwealth, and
five elected by the stockholders of the said Bank. All
of the said directors shall possess the qualifications re-
qurcd By the sixth section of the act establishing gene.
raj regulations for the Incorporation Of Banks, passed
March 22d, 1857; and the Executive of this Common
wealth. and the present Board of Directors of said Of
fees of discount and dcposite shall forthwith upon the
passage OF this act appoint the additional directors au-
horized by this act to be appointed By the Executive
and elected by the Stockholders who shall continue IN
office until the next annual general meeting OF the
: stockholders of said Bank
Is. BE ii further enacted, That the Banks of this
Commonwealth accepting the provisions OF this act, IN
w! Tic itposites OF the States are made, shall pay
, the semi annual interest due from the Commonwealth
f in the month of July next in specie or its equivalent
so required by the creditors, without charging any
premium therefor
A. This act shall be in force from the passing thereof
Ic3 An act appropriatng the public revenue; make:
the usual annual appropriations for the support OF Gro
vcrnncnt.
n lsl An act to establish the town of Dranesvlllc If
\ the county of Fairfax.
Is. An act to amend the several acts concerning
c the Portsmouth and Roanoke Railroad Company: au
tlorizcs the company to sell much OF the capital
crzed 10 be increased BY act passed in 3d. not ex
cecdng 0COO may not have been subscribed, witt
guarantee from the company TO pay SIX per cent pc
annlm on each share and pledges the profits and thu
stock of the company to secure the payment OF the
said interest," the said interest to be recoverable BY war
upon five days notice, if under twenty dollars ant
if above that sum by motion upon like notice before TIT
County or Circuit Court of Norfolk county empower
the company sell piece of land situated in North
ampton county, North Carolina and to appropriate thu
proceeds towards paying the debts of the Company
and requires the Board of Public Works. upon the pay
ment by the Company oil the amount for which certain
property in Portsmouth sold, to release the mort
gage executed by the Company to the State; increases
the tolls for transportation of freight and passengers
and reserves 10 the State the right to repeal the in
$ creased rates at pleasure.
l-6. An act concerning the government house; ap
proprates $1,000 to repair the same, and to provide ad
dtona furniture therefor.
Isl. An act allowing reward for killing grey foxc
in the county Of Prince William; authorizes the county
court to allow such reward they may think ncccs