Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-06-17

shall be lawful for the President Directors M
So"Piny OF the said Bank, To sell and transit
iot golu anu silver coin, bullion, the Treasur
aforesaid.
Sec. 6. ind be IL further enacted, That at n
opening OF the subscription TO the capital stock
tue Sald bank, the Secretary of the Treasury sh,
subscribe, cause to be subscribed. on bcb,lr N
United States, the said number OF sixty thous,n
shaIcs, amounting TO SIX millions ofdollars rs afor,
saiu' And the Secretary ofthe Treasury shall al
so subscribe IN shares and in parts OF shares in th
name OF the United States for the use of the
i've states, the proportion Of each according to il
representation in the Senate and House of Repre-
sentatves OF the United States the sum of nine mil
,ohS three hundred and s,Sty-seven thousand tw
nunuTeu ana fourteen dollars and ninety. seye
cents and the stock subscribed for the use of an
State, shall become and he the property OF sue
state, and subject to its control from and after tn
time that such State shall by law accept the same
Ana II any State shall not within two Years from
and alter the passage OF this act accept the sal
STOCK so subscribed Tor said State, the same shal
pass TO and become the property of the other State
respectively, IN the proportion aforesaid, whicI
snSn nave agreed SO to accept, as If the sam
hau oeon aPportioned TO them originally. And tn
subscription OF the said stock, aud the paymen
hereoi as hereinafter provided shall be substituted
Tor and taken and held 10 be deposit with the States
IN tuhlment OF the provisions OF the thirteenth sec
uon oil the act OF the 23d day of June, 1856, anC
SUBJECT to the provisions Of the said act which sale
SUBSCRIPTIONS so made by the Secretary of the Trea
sury as aforesaid, amounting together to the sum Of
hileen millions three hundred and sxty-sc thou
SAND TWO hundred and fourteen dollars and ninety.
seven cents, shall be paid in bullion in gold or si.
yer coin, or in stock OF the United States bearing
interest at the rate Of five per ccntum per annum:
ana payment thereof or of any part thereof be made
IN puo!c siock, bearing interest as aforesaid, the
salu interest shall be payable half YEARLY 10 com.
mence from the time OF making such payments on
account OF the said subscriptions and the principal OF
the said stock shall be rcdec nable i'm any sums.
and at any periods which the Government shall
deem mt, after the expiration of fifteen wears
And the Secretary OF the Treasury shall cause GER
uhc1tes OF public stock TO the amount Of fifteen mil.
lions three hundred and sixty-seyen thousand two
| hundred and fourteen dollars and nnety-seyen
cents, TO be prepared and made in the usual form.
ana shall at his discretion, and whatsoever he shall
thlnk ut, sell the same for gold or silver coin
or ou'lon, or he shall pay over and deliver FIVE mil
hons two hundred and fifty thousand dollars of the
SINE, To the said bank on the first day of January
/ lS42, ana three millions seven hundred and fifty
thousand dollars on the first day OF MAY, and SIX
millions three hundred and sixty.seyen thousand
Two hundred ana fourteen dollars and ninety seven
cents OF The same on the frs, day OF September in
Sne same year, which said stock 1t shall be lawful
lor the sald bank TO sell and transfer for gold and
silver com or bullion At their discreton-And # the
secretary OF the Treasury shall sell the whole or
any part OF The said stock he shall pay 10 the sand
oahk gold and silver coin bullion, to the noni-
| nal amount Of stock SO sod in like instruments
winch may DE offered for The subscription OF ind.
VlduaIs States or corporations shall not be fully Ia
Ken, aud the deficiency 10 not exceed one-ihird
WITHIN three months, the residue shall be subscribed
Tor by The Secretary OF the Treasury on behalf the
United State, and may be afterwards sold by him
al any price IN his discretion not less than costs and
| tor which the Secretary OF the Treasury is hereby
authorized TO issue stocks of the United States in
| manner as before provided.
Sec. :. Ind be Il further enacted. That the sinh
scroers TO the said bank, their successors and as
signs, be, ard they hereby, created n cornora.
ton ana body polite, by the name and STYLE OF the
fisca Bank OF the United States, and shall So con.
tlnue until the hTSt day of June in the vear one
thousand eight hundred and siNtv.tyo. and bv Thai
name snail oe, and are hereby, made able and ca
pao'e IN law 10 have, pulehlse rsce w. possess en-
yoy, anu retain TO them and their successors lands
rents, ienements, heTeditaments goods ch,ttss and
effects OF whatsoever kind nature and quality: ami
the same TO sell, grant, demise, allen or dlsp0se o
W sue ana be sued, plead and be implicated ansver
and tie answered, defend and be defended in ali
STATE courts having competent jurisdiction, and in
any circuit court OF the United States: and also to
"'aAei nave, ana use common seal and the same
20 break alter and renew at their pleasure; and al.
So 10 oIia, establish, and put in execution such
| oy laws and ordinances, and regulations, as they
sha'! aeem necessary and convenient for the GOV.
eminent OF the said corporation not bens CONTRARY
TO the constitution thereof or 10 the l,ws of he
Chted States; and generally TO do and execute
al and singular the acts, matters and things
Nhieh 10 them II shall may appertain 10 do:
suoJse'' nevertheless, TO the rules, regulations,
| prescribed and declared.
Sec ;. find be it further enacted, That for the
management OF The affairs olthe CORPORATION there
snail be seven directors TWO OF whom shall he an
nua'y appointed by the President of the United
states, Oy and with the advice and consent If -.
nate, and five Of whom shall be annually elected =,
me OankInS-houss IN the city of Wasbingtop on the
met Monday of January 10 each year by the ouali
teu stochhoIders OF the capita. of SAID banks other
man ue United States, and by plurality Of votes
1nen and there actually gwen ACCORDING 10 The sr,a
o. voting hereinafter prescribed; Pror,dfd a!tc1ys
IHaI no person being director IN the Bank of the
Chteu > ates, or any Of its branches shall be n o
rector oil any other bank; and should any such d.
rector acs as director IN any other bank, it sha
forthwith vacate his appointment in the direction ..
the Bank of the United States: and the drec,o.s .,
GUY appointed and elected shall be capable Of scrv.
ing, Oy virtue OF sUch appointment and choce f,or,
lht AISt Monday 10 the month of January ri a,cb
year, un' the enc and expiration Of the first Mon
Jay lh Tue month Of January of the year next ensu-
InE 'he TIME oil each annual election % be held by,
'he stockholders as aforesaid. And the board q,
directors, annually, at the first meeting after tbei,
eieclion IN each and every year, shall proceed IN
e'ec' ono Of the directors 70 be president cfthe cor.
p0raIIOn, who snail hold the said Off . d,,,i, a. .
same period for which the directors are sn-,-,,,,5
and elected as aforesaid: Proriged, al,0 Thai tbs
hrst appointment and election Of the diTer,ors ,,5
president Of The sli bunk shall be az the time and
Tor lhe period hereinafter declared IND Uyorid,g al
50, Ihat IN case II should az any time happen ibo,
an appointment or election Of directors or an .cc
ton Of the president Of The said bank should moi no
so mace as 70 take citec; on any day when in n.r.
sIAHce OF ms act hey ought to take effect the
corporation shat. no; for that cause be deemed IN he
dIssoycdj but u shall be lawful NJ any other Time
70 make such appointments, and 10 hold such cleo.
IONS, las the case may BEL and the manner In hold
ing the eIecuons snail he regulated by the bylaws
ana ordinances Of the said corporation; and until
S'cn appointments or elections be made the direc
tors and president Of The said bank for The trnc b
iug, shall continue in office md pyoaiIsJ ,J,o
nat 800 Gaze Of the DEATH resignation or removal Of
me president Of the said corporation the directors
shal proceed 70 elect another president from the di.
rectors as aforesaid; and, ~ case Of the death rfs
nation, or absence from the United St,trs ar r,,1.
Va. Of flrector from Office, the vacancy shall Inc
supplied by the President Of the United States or
ny the stockholders, as the case may be; but tbe
Ffesoehtoi the United States alone shall have pow.
or to 'emoye either Of the directors appointed bv
him as aforesaid.
Sec. 9. Ind be L J4,iher enacted. That ne ,,or
as the sum OF four millions Of dollars, in gold and
silver coin, aud 10 Treasury notes. siaI have been
actually received on account Of the subsrtpfiopg IL,
the capi.al Of the sail bank Exclusively oftbe sub
scrfu n, Aforesaid on the part OF the United States
notice thereof sh'i. be given, by the tsrsocs ynJe,
whose supfrlntendence the subscriptions shall
have been made TO the city Of Washington. in "A,
least two newspapers printed in cacn OF The pI,rrs
lii 50 many be printed n such places. r,s1ectrye.
yJ where subscriptions shall have been mad 7rd
Inc s'il persons shall, at the same time and ir DID,
m,nner, notify time and place. within The sad rtv
p asuIngiOn, az the distance oi az least tbirty
b Tom The time Of such notification, f,r p.oeord.yg
70 tng t.'cV"n OF i've directors as aforesaid, and II