The Ohio Democrat. [volume] (Canal Dover, Ohio) 1840-1900, 1842-06-16
asher clerk or other subordinate officer shall he a-

oxtl: NO bank shall directly or indirectly, sell any
OF gold silver coin, export the same out OF the
sate shall any bank employ any broker to transact
any business be concerned either directly or lndI-
recty, in any way whatever with any broker, or in
any brokerage business.
Sec 8. Any president, director, trustee, CASHIER
other officers agent amy bank, consenting to vO>
aiiou any Of the provisions contained in the prece>
ding section ofthis act shall he deemed guilty ola mis-
demeanOr, and conviction thereof, shall be fined in
any not exceeding FIVE thousand dollars, less
than thousand dollars and be imprisoned in the cell
dungeon of the county JAIL and fed bread and wa
ter only, not exceeding six MONTHS nor less than one
month, and moreover, shall be jointly aud sevealy lis
able to said bank for all damages arising thererom, and
every such loan discount, or excess OF loan or dis
count therein forbidden shall be considered and held,
to al intents and purposes, null and void H.
Sec. g. 1t shall not he law ll for any person, being
president, director, trustee cashier other officers,
clerk agen, in any way interested or concerned in
the management of the concerns of any bank, to dis
count, or directly indirectly make any loan upon any
note bill other evidence of debt which shall have
been offered to such directors for discount and reused
and every note, bill or other evidence ofdebt, dis
counted upon which any loans shall have been made
by ohe persons aforesaid knowing that such note
had been offered and refused. by making any such
discount loan shall forfeit and pay to any person
who may for the same, the amount of any such dis
count or loan to be recovered jy action Of debt, 10
thename oftHe State ofOhio, with costs suit, in any
court Of competent jurisdiction.
Sec 10. II any president director trustee, cashlef
or other officer, clerk agent of any bank, shall en-
beZze, audulenly convert 10 his own secrete
any effects property, commit any breach Of trust
with intent 10 convert to his use the ben
eft Of any other person, anY effects property belong
ing such bank or deposited therein, they shall be
liable to prosecution by Indictment and upon convic
ton thereof shall be imprisoned in the peniteniay, g.
kept at hard labor, not than ten years less
than one year.
Sec IL. No bank shall at any time owe, otherwise
than 10 depositors, for money actually paid and remain
ing in the bank, more than and halftmes the az
mount ofits capital at such time paid into the bank q
remaining therein active capitastock and the loans
and discounts Of bank shall not, at any me exceed
twice the capital stock actually paid into and
possessed by the bank, and all loans and discounts
such amount shall be null and void aud the drec
tors consenng thereto shall be liable, jointly and
orally, in their individual capacities, to such bank for
all damages arising 10 such bank, from such of
loans and discounts. Is 1881.
Sec. IL. The board oldirectors shall, the first
Mondays ofJanuary and July, annually, make and de.
clare such dividends, resulting from profits of the bank,
shall not impair, in anywse lessen, the capital
stock Of their bank, and cause the same to be paid to
the stockholders thereof, on demand; provided, that
the directors 10 making up the accounts for declaring div
idends, shall chalge all bad debts TO profit and loss set
apart sufficient 10 provide for doubtful debts and
declare and divide all the residue Of accumulated profits
among the stockholders.
within the provisions this ac to issue put in cir
caiion, to have in circulation at any one time, an a
mount ofnoes or bills fsuch bank designed calculated
intended to circulate money, greater than the a
mount OF capital stock actually bicrbed and paid in"
to and remaining in such bank and every such bank
shall be required TO have and keep in the vaults there.
Of the actual property of such bank, an amount of
gold and silver coin equal TO dollar for every three
dollars ofsuch crcuation and, in it shall so hap
pen, that any bank by the redemption of its notes, and
the payment of its immediate liabilities, in gold or sill
yer coin shall violate so much ofhls section relates
to the proportion ofits specie and circulation it shall
be unlawful for the directors Of such bank, from the
time such dlsproportion accrues 10 discount any note,
bill, bond other security, or in any manner pay out
or pu, in circulation, any Of the circulating notes Of
such bank, until the legal proportion of circulation f.
gold and silver coin shall he reganed und all such dis
counts made IN violation ofthe provisions of this sec.
ton, shall be considered and held, to all nens and
purposes void and the directors consentng to such vi
olution, shall be liable jointly and severay, in their
individual capacities, TO such bank for all damages a.
rising to such bank for such violation.
Sec IA. 1t shall not be lawful for any bank TO di-
recy indirectly issue, pay out give, or offer in pay
ment in any way, directly or indirectly circulate or
put in circulation any noe b or other description Of
paper whatever, calculated or intended to pass or cir
cuate money or currency except such as snail nave
been numbered and registered for and behalf OF such
bank by such officer shall DC appointed by the Gen
shall not be made payable at any other place than at
the banking house where issued payable at any olh~
or time than demand or payable IN any thing else
than gold or silver coin or be Ola denomination less
than FIVE dollars and all such notes shall be signed by
the PRESIDENT and countersigned by tho cashier of the
bank that issues them. ..... ...
Sec. Is. Any officer Of Il bank, who SHALL as such
officer, issue, pay out or in any way circulate, or
put in circuaten any note, BILL other description OF
paper whatever calculated intended TO pase cir.
nall nnth haon
first numbered and registered required in the thir.
eenth section Of this ACT for and behalf Of such
bank, every such officer shall be deemed guilty Of a
misdemeanor and on conviction thereof, by Indictment
shall be imprisoned in the penilentury and kept at hard
labor not more than three years less Than year,
and every person, who shall act President, cashier,
clerk trstree agent director to any such bank, or
shall in any respect asslst in the dscounng of PAPER
for lending money, for such bank, or in paying out mo-
ney for such bank and every person. whose hand wri'
ting shall appear any note or bill not registered and
numbered as aforesaid. Shall he deemed and taken
to be an ofiuer of such bank within the meaning o!
this section. "e ..rg a
Sec. 16. Tha, thee shall be register appointed by
Joint resolution of the General Assembly, every three
years whose dutyit shall be- endorse every note
that shall be presented to him for that purpose tht
word registered" and which he shall sign his name
| he shall note the number denomination and quantity
of such notes or bill indorsed by him aforesaid, il
some proper book TO be provided and kept for thu
purpose in the office Of said Register, under tn
supervision Of the Auditor Of State and of the Ban
Commissioners; IN the amount Of notes TO be endorses
by said register for any one bank he shall be governe