The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1841-01-20
From the Cincinnati Gazette.
IIIIi STATE BANK INDIAN

AIIAI Static 8ANh OE INDIANA.
The Indiana scheme Of Banking, is regarded
asa ln>jel for State Banks. A State Bank pro-
ject for Ohio is now before our Legislature. and
wild generally discussed. For general infor-
MATHS , and comparison, we give the following
brief synopsis OF the Indiana charter, compiled
from the Ohio State Journal, and suppose it
vii. az this time, be particularly ebtaable.
1 me State Bank of Indiana was incorporated
in 1884. with capital of 81 500, 900, in shares
Of s O, equally distributed to tel branches
wihlnsr scifed districts, by the Central Direc-
t ors.
Upcnthe subscription of $3.50, 900 for branch
by indy Iduals, and the payment thereon of
$4,000 in SPECIE the State subscribed to $780,
600 of the stock of that branch, and paid $50
coo. Cne residue of the subscription to be
paid in two equal instruments; b t if the indi-
vidual subscribers gave security for the pay
Inent of their balance with interest nineteen
Yeas, the State advanced the balance to the
Bankit them.
The Directors to be citizens, land to be direc-
ors n but one Branch at The same time. The
President, with four Directors of the Central
Board, and three in each Branch, to be elected
by the L legislature. Each Branch has ten Di-
rectors seven elected by the stockholders
Zach B.a1ch elects one Director of the Gen.
raj Foa-.i
lie President, Cashier, Directors; &c. are
-ohibited from endorsing for each other, and
rom ii e proxies.
] e ..Jtes for circulation are all signed by
tn ePre sident of the State Bank, who delivers
tile 1rtion allotted to each B. anch, not exceed
mgtwice the capital paid in. These notes are
col. ,er signed by the Cashier of the Branch
issuing them, and are payable at that Branch.
None al e issued less than five dollars.
The Bank is liable for each Branch, to in
temnify cred-tor against loss. Upon refusal
to pay specie for bills, the holder may demand
12parc INT interest. The Bank cannot trade
inr GODS, and is compelled to dispose of real
esta ttaken in payment, &c. and not used, at
stated periods and for a sum not exceeding the
debt and interest on which it was taken II
can make no loan on stock, nor 10 pay install
ments, III for larger sum than $4,000 to any
ene person. without the ccGc21i:: o. tie Central
Board, nor for sums over $500, without the as
sent of five ont of the seven Directors-nor to
Directors upon more beneficial terms than to
Others,
The Central Board may at all tim; examine
he Branches, and receive from each monthly
s.SstatemeEts of its condition. The Central
Rcani may shift the capital of the Branches
fpm on 10 another-cause them to be suspen-
died., teko possession OF the assets, and settle up
Il err .aiis, in case of improper conduct.
The ebts due by the Bank, not to exceed,
{i,clu n sdeposites,) twice the amount OF its
aarital paid in. The debts due to the Bank
IL 1T Xceed the same amount =
F-M T. es proving insolvent, are held to be
Il abdul :nty so, until the contrary is shown.
tlca e-ifraudulent insolvency, the President
an iJlr. ctors under whose management it &C.
Gus, arc personally responsible to creditors
a, Il tos :; lholders. After the assets of fail
ing Bran / and the property OF the President
a,hl DiIrctors, is exhausted, stockholders are
he'll, tiE I 20 pay up their stock in full, and then
90 Tivdte to creditors in proportion to their
stock OF exceeding its amount.
iTha o@nL - -0-u;--l = ,.
80 . =. 40 ..4u.4eu 20 receive and dis
rsa the f nds of the State free of charge.
over is reserved to the Legislature, with
II cors mt of the Central Board and the Bran
ches, tt aher the charter, but not TO authorize
lie suspension of specie payments.
NEWLY INSPECTED HERRINtsS-3O
~ barrels susquehHnna Herrinss, of very superio
jiIity,I inspecting, for sale low from the wharf
SELLMAN s. CROOK,
-Jl Corner ofSouth and Pratt SIS.
EyRTISH UNSOLICITED HERRINGS-20
banois Susquebanna Herrings-now inspecting
70 san e " from the wharf sELLMAN s. CROOK,
Milf Corner Of South Pratt sts
HHRINTING PAPERS--DoubIe Super loyal
u Ible Royal, Double Medium, Super Royal, Roy
al Meti im and Demy-f0r sale by
TURNER, WHEELWRIGHT NUDGE,
d. N EWLY INSPECTED HERRINGs-60
BIZ .rels Susquehanna Herrngs, Just Inspected, an
e's!'' "' s'a'''' sEElMAN CROOK.
deI0 corner Of Sauft and Pratt street.
TNT~CA MS PATENT MECHANICAL. LAMPS
avery superior article, giving as much or NOR
lirlt than two common Astral Lamps. A few of tn
"o''' 'u''''>' CANFIELD s. BROTHER,
Corner OF Market i Charles It,