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

1886, and subject to the provisions Of said act,
which said subscriptions so made by the Secreta-
ny OF the Treasury as aforesaid, amounting ogcth-
er 10 the sum of fifteen millions three hundred and
sixty. seven thousand two hundred and fourteen
dollars and ninety.seven cents, shall be paid in
bullion, in gold or silver coin, or in stock Of the
United States, bearing interest at the rate Of five
per centum per annum, and if payment thereof,
or any part thereof be made in public stock, bear
ing interest as aforesaid the said interest shall be
payable half yearly, to commence from the time
Of making such payments on account of the said
subscription; and the principal Of said stock shall
be redeemabe in any sums, and at any periods
which the Government shall deem fit, after the ex.
pnation of fifteen years. And the Secretary OF
| the Treasury shall cause certificates Of public
stock to the amount of fifteen millions three hun
bred and sxty.seven thousand two hundred and
fourteen dollars and ninety.seven cents to be pre-
pared and made in the usual form, and shall at
his discretion, and whatsoever he shall think fit,
sell the same for gold or silver coin, or bullion,
or he shall pay over and deliver five millions two
hundred and fifty thousand dollars Of the same,
to the said bank on the first day of January, 1912
and three millions seven hundred and fifty thou
sand dollars on the first day Of May, and six mil
lions three hundred and sixty.seven thousand two
hundred and fourteen dollars and ninety seven
cents Of the same on the first day Of September,
in the same year, which said stock it shall be law
lul for the said bank to sell and transfer for gold
and silver coin or bullion at their discretion
And if the Secretary Of the Treasury shall sell
the WHOLE or any part Of the said Stock he shall
pay to the said bank gold and silver coin or bull
lion, to the nominal amount Of stock so sold in
like instruments. Preceded, nevertheless, That if
the amount Of stock which may be offered for the
subscription Of individuals, States Or corporations
shall not be fully taken, and the deficiency do
not exceed one.third within three months, the
residue shall be subscribed for by the Secretary
of the Treasury, on behalf the United States
and may be afterwards sold by him at any price
in bis discretion not less than cost; and for which
the Secretary Of the Treasury is hereby author
lied to issue stocks of the United States in manner
as before provided.
Sec. s. And be ii further enacted, That for the
management of the affairs of the said Corporation,
there shall be seven directors, two Of whom shall
be annually appointed by the President Of the
United States, by and with the advice and consent
Of the Senate, and five Of whom shall be annual.
ly elected at the banking house in the city of
Washington, on the first Monday Of January in
each year, by Unqualified stockholders Of the cap
ital Of said banks other than The United States,
and by plurality Of votes then and there actually
given, according to the scale Of voting hereinaf-
ter prescribed; Provided, al,cayS That no per-
son being dieector in the Bank Of the United
States, or any of its branches, shall be director
Of any other bank; and should any such director
act as director in any other bank, it shall forth
with vacate his appointment in the direction OF
the Bank Of the United States; and the directors
so duly appointed and elected shall be capable Of
serving, by virtue of such appointment and
choice, from the first Monday in the month Of
January OF each year, until the end and expiration
Of the first Monday in the month Of January Of the
year next ensuing the time Of each annual cleo,
ton to be held by the stockholders as Aforesaid
And the board of directors, annually, at the first
meeting after their election in each and every year
shall proceed TO elect one Of the directors 10 be
President Of the corporation, who shall hold the
said Office during the same period for which the d.
rectors are appointed and elected as aforesaid:
PrOUided, also, That the first appointment and
election OF the directors and president Of said bank
shall be at the time and for the period hereinafter
declared And provided, also, That in case it
should at any time happen that an appointment
or election Of directoIs or an election OF the presl
dent OF the said bank, should not be made as to
take effect on any day when, in pursuance of this
act they ought to take effect, the said corporation
shall not for that cause be deemed TO be disSolv-
ed; but it shall be lawful at any other time to
make such appointments, and to hold such cleo.
tons, (as the case may be,) and the manner OF
holding the elections shall be regulated by the
by laws and ordinances Of the said corporation,
and until such appointments or elections be made,
the directors and president of the said bank, for
the time being, shall continue in office: And pro-
uided, also, That in case of the DEATH resignation
or removal, of the president Of the said corpora
ton, the directors shall proceed to elect another
president from the directors as aforesaid and, in
case of the death, resignation, or absence from
the United States, or removal OF director from
office, the vacancy shall be supplied by the Pres,
ident of the United States, Or by the stockhold-
ers, as the case may be- but the President o! the
u United States alone shall have power to re-
move either of the directors appointed by him as
| aforesaid.
Sec. 9. Ind be 1t further enacted, That as
soon as the sum Of four millions OF dollars, in gold
and silver coin and in Treasury notes. shall have
i been actually received on account Of the subscrip.
lions to the capital Of the said bank, exclusive,
l Iy OF the subscription, aforesaid on the part Of
the United States, notice thereof shall be given,
c by the persons under whose superintendent the
d subscriptions shall have been made 10 the city OIL
Washington, in at least two newspapers printed
J., in each Of the places iii so many be printed in
! such places, respectively where subscriptions
! shall have been made and the said persons shall,
e at the same time, and in like manner, notify
time and place, within the said city Of Washing
ton, at the distance Of at least Thirty days from