Baton-Rouge gazette. [volume] (Baton-Rouge, La.) 1819-1856, 1842-02-12
$4,000
10000
lsnMA
Improvement Bank,
Atchafalaya i:ank,
Bank Of Oceans,

Bank of Orleans, 100000
And the cash assets Of said liquidating bank
or banks shall be distributed in the same ratio
among the banks thus receiving said circnia-
ton. And the whole amount thus advanced TO
enid liqnidafing bank or banks in receiving
said circulation, shall be guaran eed by such
portion of its State Bonds ,r portfolio as may
be secured by mortgage or personal security,
or by mortgage on the real estate OF SAID IT,
quidating bank or banks, said securities 10 DC
approved by the respective banks receiYIng the
CIRCULATION, and the Board Of Currency, ard IN
case Of difference Of opinion, the opinion OF
the Board of Currency shall prevail. And 1t
shall be lawful for the banks SO receiving the
circulation OF a bank III liquidation, to charee
interest at the rate of eight per rent. payable
in advance, on their respective losHs, and to
lodge the securities thus received in guaran-
tee Of The issue az provided for By th!s act.
And It is hereby made the specia! duty OF
the Board Of Currency, to direct the whole It
the operations contemplated IN this secticn.
and 50 adjust the apportIonfncnt req'lred' ma
10 provide for the mode of cancaii:E the tE-
~cuIation SO received when it shall he proper
to do SO. l. shail be the duty OF every bank
revived aid so coniinuingto be, to abide the
decision Of the Board of Currency.
AMI the notes and securities furnished Hs
ab3ve by the bank in liquid ton, shall be qua
ran'eed by such bank until he final payment
Of the advances made to it. And whenever a
note of bank in liquidation shall he paid, the
bank receiving it shall forthwith cancel the
same, but shall preserve it as a voucher. and
if any no'e after having been once paid, sha.l
be again put in circulation, each and every
person concerned in such act shall be irnpri-
sonal for a term not exceeding two years, ara
pay a .ne equal to the amount thus re-issaed'
| recoverable for the use Of the Charity Hos
| pital of New OtIe7n=, before any court OF
competent jurisdiction.
Sec. 8. Pc it further ena ted, &c; That it
shall be the duty of each and every bank to
accept ia s act within twenty-five days after
! iAs proFnulgatiol, and within three days there
alter 10 give written notice Of slld acceptance
to the Governor of the State; and if any bank
neglect or refuse to make sGrh acceptance, or
to notify the Governor thereof, within the
above DELAYS, it shall be considered as having
fer.ered It's charter, and il shall be the duty oi
the Attorney General immediate,y to sue said
bank for the forfeiture OF It's charter, for any
acts or omissions or violations Of its charter
prior TO the institution Of ga d suit.
And should the Attorney General ne
eI,ct so TO do for ten days after the exp''
raJicn of the tine above provided, il shall
be the duty Of the Governor 10 consider
his place as having been vacated dr. tacto
and 10 appoint another Attorney Genera
in his place, who shall also be- considered
as having vacated his place, if not acting
within Ave days after his appointment
And the Governor to contrnu, g o to act
until the fnii intent Of this section sbas
have been carried into full effect.
Sec 10th. BE it further enacted, &c.
That it shall be the duty of the Board o
Currency, so often as they shall ascertain
that any one of said revived banks shall
fail or refuse to comply with the condition
Of this ACT, 10 notify to SAID bank TO ent'
at once into liquidation Oh the condition
provided for in this act, and on such ban
refusing or ncgiectlng 10 do 50 with
twenty days af:eF such notification. 1t saa
+ be the duty of the Board of Currency IN
der the penalty of $I,Oi0 each membe'
to apprisc the Attorney General Of THIS ne
elect or refusal. And i. shall be the dn.
Of the Attorney General immediately I
sac sail bank for a forfeiture Of lis chal
ter, and should the Attorney General ne
+ eject 50 20 do for ten days af.e said not
: fcation 10 him in writing, by the Board
7 Currency, it shall be the duly Of the Gov
ernor to consider his place as having be
2 vacated, and TO act as provided IN the vi
section OF his art.
Il Sec. 18th. Be it further enacted, &c
: That it shall be the d.ty Of each mcnb'
$ of the Board of Currency to report to sa
: Board any infraction of this act that me-
come 10 his knowledge, and every direct
b Of a bank who snail be guilty OF any sue
q inffactior. shall be held responsible in dar
K ages: and shall be liable besides to a III
OF $500 for each offence, to be saed for /
: the Attorney General, on the notstlcaiit
it Of such i2iIac;ion or infrac;ioas by t
J. Board tf Currency.
Sec. IL. Be it further enacted, &c; IN
d thirty DAYS after the pronunciation IT Il
re act, it shall not be iasfil for n s@nk
e uav at their respective counters any 9th
=. than their W ro:es; ard it shall be tn
! d.: =, Oh each Sturday in every week,
Is pay or to require t" be Paid, as the Ca
II may be, their respective balances IN q
e. Gle, and to exchange between theinsel'
n, each day, on opening their DORIS, taeirIt
% peclire notes, under the penalty Cd being T
= Immediately into iiquiaation.
II Sec. -. Sc it further enacted. &c. II
ce from and after the 3Dth september, IS
", at which time all the banks shall be CO
On PEELED 10 pay their notes AMI other lab
ties in specie, the protest nsie by a no
&C. ry Dss!ie. aftsrdse demand and refusal
payment of lis neses or otaar.'sa utilities,
II 50 Gle, IL a bank, u~aies~deciar.a md pr
or ei to b. a forgery, shall constitute the
act feature of the c arter Of such bark; an
,e- shall b. the duty os,h Board Of CurreF
,nn and of the A tnrney General to proc
{. rlhwith against such bank, as pToTt
1al for by this act.
;na Section II, Provides that any bank drec
ks clerk or other bank officer, who shall her
"a ter attempt frauds on banks, or through be
ne on the people, shall be imprisoned IN the r
Tertiary for not less than por more than
on. years.
e. Sc. Is. al Enes a~ccrui7g under this
~ ta=s ten TO, cent for the ~sereices OF the a
III nez general, shah go to the use of the cha
not hospital.
aet, Sec. 16. Be further enacted, &c. I
ae'F it shall be the duty Of the Board of Cur
,ne ey W eneyer a Bank shall Ne in 'lqulda
the Immediately 10 cali a meeting OF ITS st
en- holders, and the Commissioners appel
wise TO llgaidase said-Eaak ssSsall remain u
said the supervision of the Board OF Cure
stri- unt!l the whole of the liabilities OF said L
lda- shall have been pail, and no longer;
ans the President Of the Board Of Currency
ss - have a casting vote 10 all dellbeEatior
> said Commissioners. And if in any