Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1841-05-11
PENNSYLVANIA REVENUE AND RELIEF
I'll

- is-NNA- .N.Nb NELLIE
BILL.
rms bill alter beng vetoed Ivy the Governor.
,AHsed both Houses by constitutional m,jority
by u the Governor is authorised to negotiate a loan
ne PAYMENT If which the faith OF the Corm,,.
wealth Is pledged. bearing an interest or five per
cent per annum, payable half yearly on the first
days OF January aud July. To be redeemed nj the
END OF five years from the passage O the act or ear
et nj the pleasure ct the isrIs Iturc, AN amount
not exceeding IN the whole, three millions one
hundred thousand dollars
The Banks are ID 10 subscribe 10 the
stock, and on paying into the State Treasury. m.
amount of their respective Subscription IN notes
he by them respectively issued ct the deuonina-
lions of one. two and five dollars, one fourth OF
which only shall be Of the denomination OF Eve dol.
liars 10 he signed by officer or officers, or cetk
Or clerks of the bluk to be dcslguacd by the hlarl
"l directors, they shall receive crUt, uu llc bIrk
ui The Auditor General 10 nn equal amount; and
the notes shall DC payable whenever presented al.
hc counters Of the respective banks whsrh issued
Them, 10 the amount of not less han one hundred
dollars. and whenever the holder ct sad notes q,
an amount of one hundred du,.aIs, ur upwards
shall prcseut the at the hank iron. which lhcy
were issued. lac shall Ice entitled To demand aud re-
coiyc an order the Auditor General cn'l,,ur him
ID receive certificate at uu equal amount ui 80,
stock hereby created, for Ihc redemption thereof:
and II shall he the dang oC such bank, forthwith O.,
cancel the sand notes, when TCdCaucd, and 90
mark the same cancelled, and the cashier OF such
bank shall! forthwith furnish The Auditor General
wlth the notes 50 redeemed, cancelled and mafkeG
ana Il shall be the duty ri the Auditor General 10
destroy them
SloulI auy bank refuse 10 redeem their stock the
Governor, AFTER giving ten DAYS notice is % issue
. hrs prOclamul IOu declaring the charter vuiu All
officers and directors OF banks who shall issue /!
greater amount efnorcs than they are entitled 90 a..
" fIls4 I..I.T. 80, l.
. bred nor more than Two thousand dollars aaI BE-
liable 10 an action uidcbt for their redemption
Upon the redemption oi any OF the notes hy the
bank which IUay have ISSUED the same aud he
transfer of The stock such bank shall assume Ib,.
payment of the interest :he stock 81 transferred
NJ the rate OF Eve per cent per auuum, as the s1mc
shall become due and payable. And upon such rs.
Sumption aud payment OF the inIcrrs, by any bank
such bank shall be released FROM the pl,mcni of
tax on dividends, as uoN required hy law; NJ bank
10 be exempted from The payment - rtavcs on DIV.
Idcnds previously 10 such Huics being redeemed
and funded. Ii the interest Is uu; paid when do.
maudcd the charter j. Forfeited.
/ No bank is allowed 10 issue q lager amour, OF
notes, authorised by any portion o, The ac,.rfan a.
follows:
All banks whose CAPITAL stock actually maid in
docs not exceed three hundred thousand GY;.n
twenty-five per cent on their capital Ihus aciutll,
paid ln.
Banks whose capiI7l stock paid in exceeds three
hundred thousand dollars nni does no, exceed scy
ell hundred thousand dollars. TWENTY-FIVE rcr cent
on their capital thus paid 30,
Banks whose capital exceeds vCnhuulrod rloy.
Saud dollars, aud does not exceed Two million, five
hundred thousand dollars. seventeen and a half pcr
cent on their cuPUal stock thu pad in
Banks whose capital exceeds two m!!li ms five
hundred thousand dollars, eigh, per cent, o. their
capital nuid 20.
SEc.S All notes which may be issued under The
prov lsiugs of this act, shall be- receivable, fer d,h
due this commouU eal.h, and may be r--i,.ucd from
lle treasury aud from the banks which originally
Issued the same and each hank which ORIGINALLY
issued any of the said mites shall receive the same
IN payment Of dchisLue 10 At, aiI u Ia,,,H.e pa
able ia lik currency
Specific appropriations arc made Of the money
~ the recevc''; 10 repairs Of railroads and canal,
StVuVyU' for expenses of Government $4,000,
TO pay debS due uu contracts for work ou the uu.
hhashed portion of Ihe Erie division uic5na $3.50
OOUi and upon The COHucaut division 500 900;
lhes'S are some Of the heaviest appropriations
Ton thousand dollars is also appropriated for The
completion Of geological aud mlHoI1!gs zeal sur.
Epy