Mobile register and journal., 1841-12-15

The project for private stock bank in this city, tc which made brief allusion in our paper of last evening" contains the following features:
 The amount of capital is blank, but there is pro. vision that not less than three hundred thousand dol lars shall be subscribed before the Bank can go into operation, when the State is take two-ffths, which makes the minimum of capital $500 ,00O; but it is meant, without doubt, to exceed this sum, retaining the States proportion.
 The stock is to be paid for, ten per cent. at the time of subscribing and fifteen per cent at intervals of six months each, in six instaments; the last install ment, therefore, will be three years aud haLf from the time of subscribing. Many bank has found it easy to sink more than it's whole nominal capital in one-ffth of the time. Books of subscription are to be opened on the first Monday in March next, at twelve points in the State, named the bill, and to be kept open thirty days, the Bank to go into opera tion in May. | The number of directors is to be six, eleclted by the stockholders, and four appointedby the Governors the directors be liable in their private capacity for all of notes issued yond twice the of capital, unless absent, dissenting from the issue, the dissent to be expressed in prescribed form.- The stockholders to be individually liable for all the debts of the corporation contracted while they were stockholders.
 The Bank is to be subject 10 the examination of Commissioners. to be appointed annually by the Co., vernon; and its operations may be suspended, the issue of quo ,soanto by the Governor, when directed by the Legislature, report of the Commissioners that there has been any violation of charter
 The 18th section contains the liquidatng clause for the present Branch Bank in this city, authorizing the Governor to appoint commission for that pur- pose, soon the stock of the new Bank is sub scribed for, and ten per cent paid in.
 These commissioners are authorised to take schedule of all the property rights and credits of the Branch, and to all notes whatever, making no distinction, for blank number of years, payable in annual insaments at per cent interest, and to make such arrangements with all debtors as the interest of the Branch requires. They are to pay into the new Bank immediately certain portion of the specie of tho Branch, and thereafter to receive in payment y the notes, bills, and other evidences of debt of the Branch, and specie or specie paying notes; and to reissue ercet in paying expenses, purchasing bills ef exchange 10 pay the interest e State bOnds
 
 state shall use the deprecated paper for it's own pur- poses, paying the difference to the seller of bills, which would amount in the end to paying specie and little more. The Bank is to receive fpe htou- sand dollars monthly of the old issues, in settlement of debts, and more, and reissue none but we do not see it provided from whom it may be received but doubtless the directors can settle which of their friends shall be entitled the benefit of this bonus. The new Bank is to draw eight per cent. on these balances, until paid by the commissioners. As soon the circulation is redeemed, the accru- ing funds are to be applied to the purchasing of the state bonds any thlng else, the Legislature may direct. .ru t The commissioners are to have bank marshal for themselves, sost of exclusive sheriff to their executions.
 This is the prm which we are told, finds favor with many among the s.coective wisdom' of Alabama, at Tuscaloosa.