Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1842-03-23

be directed by the court, nave made claim and
delivered up the evidences of their claims. if
such evidence be in writing, to the said assign
ees, and received from the said assignees a
certificate of the amount thereof The said as
signees shall be allowed such commission or
compensation for their services, as NAV be
agreed upon in such assignment with the ap
probation Ofthe said court, and shall be subject
except as herein otherwise provided, to the
several provisions ofihe act of assembly passed
the fourteenth day of June, one thousand eight
hundred and thirty-stx, entitled IAN act reIa-
ting to assignees, for the benefit of creditors
and other trustees" That the corporate pow
ers of the said bank shall, after the said az
signment shall be made and executed aforesaid,
cease and determine, except so far as the same
may be necessary for the following purposes TO
wit
| First, for the purpose of suing and being
sued, and for continuing all suits and proceed
ings at law or equity now pending for Or
against said bank.
Second, for the purpose Of making such as
surances, conVeyances, and transfers and dong
all such acts, matters and things may be ne
cessary or expedient to make the said assign
ments or the trusts thereof efIectual.
Third, for the purpose of citing the said trus-
tees 10 account, and compelling them TO exc
cute the said trusts.
Fourth, for the choosing OF directors, for the
purpose of receiving snd distributing amongst
the stockholders of the said bank, such surplus
as shall remain after discharg;ng all the dcb's
of the said bank and ii is farther enacted that
the said court or any Judge thereof, on appllca-
ton and proof as aforesaid, may, for the pro-
lection Of parties interested, issue an attach
ment, c6mmandin the sheriff or coroner forth
with To seize and take possession Of the bank
ing house, books, moneys, deposites, papers,
and effects, and, if the directors shall no: with
in ten days thereafter make an assignment, as
herein before provided, the said court or ma
iority of the judges thereof, in vacation, shall
appoint three suitable persons as trustees, who
shall have like powers, and be subject 10 the
same provisions as if they had been appointed
by the directors with the appreciation of the
stockholders.
SECTION g. II shall be lawful for the direct
ors of any bank III this commonwealth, when
ever they deem it expedient, to wind up the
affairs of such bank, 10 make general assign
ment Of all the estate, real and personal, OF the
bank subject TO the conditions and provisions
relating TO assignments by directors OF banks,
provided in the second section of this aci and
it shall be the duty of the directors Of any bank
TO make and execute an assignment as afOre-
said whenever directed by majority OF the
stockholders in general meeting of the stock
holders of such bank.
Sec d. II shall not be lawful for any bank
Of this Commonwe ealih, after the passage OF this
act, TO issue or pay out any bank notes other
than those issued by itself, payable on demand
in gold or silver, notes Of specie paying banks,
or notes of banks legally issued under the au
,horily of the act Of the fourth day of May, one
thousand eight hundred and foriy-one, at the
option Of the person receiving the same; and
any violation of this provision shall work an sb-
soIute forfeiture of its charter, and be proceeded
against in the manner prescribed in the second
section of this act Provided, however. That no
contracts heretofore made, as TO the payment
of deposites shall be in any wise effected.
SEC 5. 1t shall be the duty Of the cashiers
of the several banks of this Commonwealth, on
the frs. Monday Of January, April, July and
October, in each year, to make out list under
oath or affirmation, of the amount of moneys
loaned, notes in circulation, specie on hand and
ON'''eAA'S
house 10 the inspection of any stOckholder un-
der the penalty Of five hundred dollars, to be
recovered as debts Of similar amount are now
recoverable, one half for the use of the prose-
cutor, and the other half for the use of the
Commonwealth; any director shall be permitted
at all times to inspect the books and accounts
of the bank, of which he is director.
Sec. g. That execution or process in the ma
ture Of an execution, shall be stayed upon all
judgments which may be hereafter obtained in
any court of this Commonw ealth or before any
alderman or justice of the peace wherein any
bank of this Commonwealth which accepted
the provisions of the act of fourth May, one
thousand eight hundred and forty y-one, shall be
plaintiff or the party in interest," so long as said
bank shall fail or refuse to comply with the
provisions of the first section Ofthis actor until
said bank shall have made an assignment
agreeably to the second section. PROVIDED,
That nothing herein contained shall be coastru-
ed to interfere with the security of any judg'
nient obtained as aforesaid. And prOoiaed also,
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