Sunbury American and Shamokin journal. [volume] (Sunbury, Northumberland Co., Pa.) 1840-1848, 1841-04-03
Harrisburg Correspondents.

HAnnIsRURe, MAncH 80, 1871.
The Bank Bill, which informed YOU in my las.
had passed the Senate, passed through the House
Friday, sfter several days had been spent in de-
batting ii, with great many alterations and amend
menis. On Saturday the Senate concured In the
amendments m,de by the House Thus, the bill
hasin.lly passed both Houses. sod was sen, to The
Governor on Monday. for his approval or veto.
Which of them It will receive is sill rastter Of
doubt, and occasions much gossip snd 'conjectusc.
The Governor is. .plsced IN very unpleasant s,ua-
alton, bis reelection will greatly depend upon
his course m relation to this bill The radical por-
ton Of The party say ,hatthey will no, support him
unless he ~e.ocs the b and if be does, he must
loose the support Of the moderate men, especislly
those cngaged.in trade, who think iha, the bill will
relie-e1he business community and bring about bet
ter times. Under such circumstances the Cover
nor ought TO, and will dous,ess, act according to
the dictates Of a sound judgement and an enligh,-
ened policy. No matter wha, decision he comes 10,
many will find fault.
BelowI give you an abstract Of the bill as It pas
sed:
BANK bal.
Section !. Provides that the Banks OF the Com
monwealth shall be liable for the paymen, of their
debts as individuals by law liaiie ond tha,
the extraordinary penalties shall be repealed.
Sect . Gives tho Banks the privilege ofissuing
small notes to the amount Of fifteen per cent. on
their capital stocks, for period of five years.
Sect 3. The total amount Of debs and Liabilities,
exclusive of dcpos,e, not to exceed doulse the a.
mount Of capital stock.
cep, by this Commonwesl.h,) not to exceed 10 per
cent Of the amour, of saeir e.nhais 'e-r.ss;..iy
provided, that Investments already made, shall be
compelled to be reduced more rapidly than l24 per
cent. every ninety day.
Sect. s. No President, Cashier. or othey officer
fixes limit to the loans Of directors, propor,ioned
10 the capitals Of the Banks
Sect. 6. No loan 10 be made to the cashiers tel.
lers, clerks, &c, OF the banks respectively,
Sect ?. AboEstes the proxy system Of voting for
officers
Sect.s Persons 70 be eligible IS directors 10 own
amounts of stock propovened 10 the capital of the
banks respectively. No person to be o director in
more than one bs,R n t,ie same time.
Sec,s. Frauds ty directors and officers provided
against.
Sect 10. No dividend allowed greater fhan seven
per cent, and the excess to form acon,ingct fund,
one half Of which is To be paid into .he treasury.
Sect. II. Dividend offive per cent. allowed du.
Ing suspension.
Sect. l2. Returns Of The condition. Of the banks
provided for.
Sec. Is. Provide. penalties in casc said reports
be not properly made.
Sect. II. Makes II ts,c taty of the secretary to
forward COPY Of the &C, Ia the banks fox heir
ceptsncs. and the Governor to issue proclamation
upon receiving their answer.
Sect. IS. Repeals former acts, Inconsistent, with
this one
Sect. l6. Authorizes the capital Of The u. States
Bank. II the stockholders desire it, to be reduced to
IA Millions and the bank be released from par, Of
her bonus.