Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1841-01-26

fourth Of the stock, apo OrtlOned among /
the Branches.
Branches
are contemplated in each county where a
chartered Bank or Banks were in opera
ton, the lst of January, 1910, with a |
capital equal to the amount of such
Bank or Banks. Such Banks being ex-
amined BY commissioner and found
solvent, may take two.thirds Of the
Stock in the Branch, leaving One,third for
other subscribers. and they may transfer
their available assets in payment, and
make the Branch Trustee to wind up their
concerns. Two or more branches in the
same County may take Stock in the
Branch there, but no Bank can take Stock
in more than one Branch. There may
be FIVE branches n Hamilton County,
with aggregate capital equal the present
capital there paid in. The capital OF the
Branch in Cuyahoga county may be in
creased to $l,5OO,0O0. New Branches
may be established of nNtless than S lOO,.
900, nor more than $500,000 capital, in
counties where there is no Bank, under
1.-THE direction OF the Board Of Control,
aud the subscription and payment Of the
Stock therein apporlioned to Och Branch,
but the aggregate Branch stock shall moi
exceed the $l2,OOO,000 capital.
Directors.
The Branches TO be governed by
Boards of Directors elected by the Branch
Stockholders, each share having vote.
They are to be ciizeOs, and stockholders
according to the capital of the Branch, of
from $500 to $4,000, aud to act on oath
The number of directors Of each board
10 be determined by the Stockholders,
moi to be less than ivc nor more than
AIne.
The Board of Control
elected by The Branch Boards, voting
according 10 The following scale: Branch
es Of not over 100000 capital to have
me vote for each $1,000 of stOck-of be-
tween 100000 and 100000, one vote
for each $2000--of between 100000
and $800,000, one for each $4,000
$600,000, one for each $1,000. Tho vote
be transmitted TO the Secretary O
State, and the result proclaimed by tie
u Governor. This Board keeps an office
i At Columbus, provides the circulating
H paper for the Branches, exercises owe
IS them supervisory control, susPendinI
>. hem in case of insolvency, and supply
ng the means of satisfying their Iiabili
}, lies. They provide for regular settle
is lnent of balances and exchange Of note
;. among tie Branches.
~ The Discounts
y taken by lhe Bank arc limited 10 six pc
d cent. on paper having not over sixly-thre
d days to run, and to seven per cent. o.
If longer paper; hut they may exact seve
}; on the short paper from the time i ma
n lures till paid. No accommodation bill
;. OF exchange can be done, except at dis
10 count and exchange within those rates
r. under the penalty Of forfeiting the amOun
,r Of The bill No Director to owe the BanI
y mora than one half his stock paid n,nO
j. any StoCkholder more than his stock pal,
il in.
Q The Circulation.
The Branches can have no circulation
Q knt paper payable on. demand in coin
is The circulation Of no Branch to excse,
! twice the amount paidin, nor the aggre
a gate more than one and quarter h
III amount paid in, and it may not excse
in three dollars for one of specie and els
ly ern funds on hand. Directors assenn
g TO any excess, or not giving notice 10th
n, Board Of Control, are held indivdhll
81 liable for il. THE circnlaii0n is supple
N; by the Board Of Control, is signed BY tn
le President thereof, is uniform for all III
b. Branches, is countersigned BY The Branc
n. Cashier that issues il aud payable TO tn
IN Branch President, aud his name is file
q in nv himself.
!. This paper is receivable for publ
J. dues, and by the Branches in paymeI
d Of It's debts.
al No Branch 10 pay out for circulaliO
If any OIher than its own notes. Re'Ms
y 10 ply notes when demanded, suhiec
the Bunk to twelve per cent per annuI
damages, while payment Is Wlthheld'
IS The President
D. is chosen annually, by the Board Of Col
troll, from among themselves.
7" Dividends
W Are made semi.annually in May an
November.
Tae State Interest and Bonus
The State may have One.Eurlh OF III
stock. Each Branch shall create an
k set apart to the State, FIVE shares Of stOcl
d for every hundred shares held by indiViC
ID uals, whica in respect Of dividends an
ID profits are to be held equal 10 the stoc
,. Of individuals. The dividends declare
ID upon this stock. shall be vested in III
It stock oflhe bank TO be created for thu
h purpose, ill the amount equal Onc-fourI
!. Oflhe capital, aud after that shall he pal
10 the State in cash. This is in lieu I
tax 10 the State. The Stale may At an
/ TINA take nnefifth nf tho aiOck in IN