Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1842-03-31
THE BANKS.

!" me fpltovlng sLeich embraces me lai poilali
fetisres DC he act concerning TIE Banks, as e.
nsirs agreed upon after a sit9ggfe between lhe
two Houses. Tbe'seclion fof resumption with
% dirty dsy, after lie Maryland ana Psnusyisa-
MIA. Banks shall have rsaalnedg was stacker Out
BY The Senate: E
81 An1act concerning tbs banks Of lhis
comnonyeahh sdspend4 until The III 81
November next. 50 much Of any act as
subjects the banks iolpay len per cenium
damages and fifteen pei cent. interest FOR
non. payment Of specie; snd ., The plea
sure Of The Legislature sosmueh Of any
act Is prohibits The banks from issuing
NOTES for less den11ninatlpn than $40,
and from receiving the bank notes Of TO-
reign. banks Of less Reorganization than
$40 II and prohibits the banks from pat.
ting Id circulation the notes Of any bank
4 foftigh Or domestic. Of less denouina-
ton than So; but the banks may Them
selves issqe npteslgof The denomin alton Of
: one and two dollars. not exceeding six
percent. On lheirewhols csPiial, until the
ht Of IaupaTy.next, the Sad notes TO 30
,ssspaya bit in specie on demand whenever
presented at the bank or branch. wheie
issued. and on failure thevAre liable 10 a
penalty Of 25 per cent. damages. recover
:, ably by warrant before Justice Of the
: peace. Requirasihe banks from and al.
ter the lsLoi November. next 10 resume
K srarsa has, =. apts4 hsstf $50 y
s paying specie Tor any3 note held y1or due
10 any other bank or.incorPbratedco mpaa
/ ny With banking power, which does NOT
I redeem iisown notes andpay It's dePosites
/ in specie. ~ 1 II
| Prohibits the directors. Of Fths banks Or
/ their branches from beconlng indebted
10 the banks branehes, as principal,
i Tor as tifms 10 which direlicris 4 part
~ner d 10 a greater sum than 5000 dollars}
aud declares that no president or 'direc-
s,or Of any savings bank or general agens
Of any misunderstanding or mining comrat
nv, shall be eligible asa director after the
next annual, meeting Of the stockholders,
except The Exchange and Valley Banks
md The provision is applicable to those
banks also, sitter the elettion 10 May
1913. Prohibits the o1icerslor directors
from yoting as proxy for any sioekhoider
IN any election Of direc1ors-or officers, and
declares thatno proxy SHAH be valid which.
has been EXECUTED sixty days before the
time ofeleo1on, Provides thst the notes
OF the Northwestern Bank and the Mer-.
chants aud Mechanics Bank of Wheeling,
and their several branches, sail hereai-
Aar be recejsable-in paymentby tie sher.
iffa and other collectors Of tie. public rev.
enue Of all public dues 10 The State. and
b discharge o. payment Of trust deeds,
executions and other demands, il confor-
nifty % the actfeviving thesctof 22d June
1887, Aconcstning the proceedings on ex-
solutions, trust deeds and other demands
in certain cases, 10 The counties Jof Brooke,
Ohio, Marshall Tyler, Wood. Jackson,
Mason. Cabeil, Kanawha. Logan. Wayne,
mongolia. Preston, Randolph. Marion.
Hssfson. Lewis, BtaKton, Fay cite and
Nicholas only.
Requires ihe treasurer. whenever The
Lotes Of said banks ahaii, be below par al
Richmond. 10 nolify lhsn OF The fact. and
the banks, are to provide lha. The balance
against them al each quarter 81 the ysar
shall Be paid III Richmond 10 other funds
OF par valae With ihs notes Of the deposit
banksin Richmond. Prohibits the banks
! while 10 state Of suspension from selling
Of disposiag Of any draft or bin Of en-
change called specie funds, at i premium.
sof more than one.half Of one per cent.
beyond the cost Of such funds 10 the
bank. Requires the backs TO keep an Of
fering book open to the inspection Of the
public. DIRECTS The bonus heretofore re-
CURED 70 be paid By creating additional
.loek 10 the name OF the com nonweslth
for the benefit Of the fund FOR internal
inprovsmenlsshall Be paid semi annually
into the treasury OF the State, 10 Be an 1
Piled in payment Of interest on the pub
lie debt crested fok internal Improvement.
And the act autharizes the legislature ii
any iims hereafter 70 modify orlreps ii the
charters q the banks at pleasure.
\ FIREA-A destructive Gre occurred 4, Co
lunbus. Geotgis. Ton the Glib instant. The
amount Of properly destroyed was very heavy.
Al New Orleans. on he llth, The 81. Charles
Theatre and Arcade. very splendid baildings,
we're destroyed By Gre communicated from Join
stt shop ID The rear The less is bul little short
ofhalf million q dollars. Of which Mr Cald-
yell The mlhager Of The Theatre, loses about
$4,000. !
a sliIt mers dsstrustise frs oeearrsd .. New
Qnsans % he 18Th.