Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1841-07-03

13. And bills or notes issued by order Of the
said corporation, signed by the president and
countersigned by the principal cashier or treas.
urcr thereof, promising the payment OF money
10 any person or persons, his, her, or their order,
or to bearer, although not under the seal OF the
said corporation, shall be binding aud obligatory
upon the same, in like manner, and with like
force and effect, as upon any private person or
persons, il issued by him, her. or them, in his,
her. or their private or natural capacity or capa.
cities, and shall be assignable and negotiable in
like manner as if they were so issued by such
private person or persons; that is TO say, those
which shall be payable to any person or persons,
his. her, or their order, shall be assignable by
endorsement, in like manner and with the like
effect as foreign bills Of exchange now are; and
those which are payable to bearer shall be as.
signable and negotiable by delivery only. Pro.
uided That all bills or notes so to be issued by
said corporation, shall be made payable on de-
mand, other than bills or notes for the payment
of sum not less than one hundred dollars each
and payable to the order of some person or per-
sons; which bill or notes it shall be lawful for
said corporation to make payable at any time not
exceeding thirty days from the date thereof.
18th. Half yearly dividends shall be made Of
so much Of the profits of the bank as shall ap-
pear 10 the directors advisable, not exceeding
three per cent. for any one half year, unless
some prior half yearly dividend shall have fallen
below that amount, in which case the dividends
may be increased until such deficiency of any
former dividend or dividends, with six per cent.
interest thereon, shall be made good. If there
shall be failure in the payment of any part OF
any sum subscribed to the capital of the said
bank, by any person, copartnership, corporation
or State, the party failing shall lose the benefit
or any dividend which may have accrued prior
to the time for making such payment and during
the delay Of the same.
18th. Once in every year the directors shall
! lay before the stockholders at general meeting,
or publish for their information, an exact and
particular statement Of the debts which shall
remain unpaid after the expiration of the original
credit, and Of the surplus Of the profits, if any
after deducting losses and dividends.
18th. That the said corporation shall establish
competent office of discount and deposte If
any State, by the assent Of the Legislature o
such State whenever the directors may think fl
so to do; and when established, the office shall
not be withdrawn without the assent Of Congress
and the said corporation shall have power t
commit the management Of the said Offices ant
the business thereof respectively, to such persons
and under such regulations, as they shall deem
proper, not being CONTRARY to law or constitution
of the bank, or, instead OF establishing such
Offices, it shall be lawful for the directors OF the
said corporation, from time to time, to employ
any individual, agent, or any other bank or banks
to be approved by the Secretary Of the Treasury
at any place or places that they may deem safe
and proper, to manage and transact the business
proposed as aforesaid, other than for the purposes
of discount, and TO perform the duties herenalte
required Of said corporation, TO be managed ant
transacted by such officers under such agree
ments, and subject 10 such regulations as they
shall deem just and proper. Not more thar
seven, nor less than five managers or directors o
every office established as Aforesaid, shall be an
nually appointed, two by the State in such man
ner as the Legislature thereof may direct ir
which such branch is located, if such State shall
become stockholder in the corporation hereby
created, and the other directors or managers BY
the directors Of the bank, to serve one year; they
shall choose president from their own number,
each of them shall be citizen Of the United
States, and resident Of the State, Territory. o.
District wherein such office is established; ant
not more than three lourths of the said manager:
or directors in office at the time OF an annual ap
pointment shall be reappointed for the next sue
ceedng year out Of four in succession, but the
president may be always reapponted Prorided
That the directors Of the branches shall not b
considered officers Of the bank, within the mean
ing of the section Of the act.
18th. The officer at the head OF the Treasury
Department of the United States shall be fur
nished from time TO time, as often as he may
require, not exceeding once week, with sucl
statements Of the condition and business Of sait
corporation as he may specially direct and HI
shall also have right 10 inspect, or cause to b.
inspected by some one by him duly authorized
all the books, papers, and accounts of the sail
corporation Of every kind, including the account
Of individuals: and the condition Of the banl
shall be published monthly, in such manner, AM
with such particularly as the Secretary Of tn
Treasury shall direct. And the said bank shall
be open at all times to the full and unrestricte
inspection Of a committee of either House Q
Congress, committee OF the stockholders, an
to each and all OF the directors Of the bank
18th. No note shall he issued of less denomi
nation than ten dollars, nor shall the said ban
discount notes, or purchase exchange or otherwis
extend its loans, when the notes in circulation eS
coed three times the amount Of specie in its vaults
10Th The debts DUE and becoming due to sal
bank, shall never, at any time, exceed the amour
of the capital stock actually paid in, and seventy
five per cent. advance thereon.
Goth. No paper shall be discounted, or any loa
made by said bank for longer time than on
hundred and eighty days; nor shall any note @
bill, or other debt, or evidence of debt, be renewe
o. extended by any engagement or contract of sal
bank, after the time for which i. was negotiate
shall have expired.
2lst. No notes, or bills, or any other evidenc
of JoLt md ;ntan1o1 m c;rcuIato r,Ona