Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-03-26

l.. PASSED the House OF Delegates ne provision
resumption 90 days after the principal Banks OF
lds'oh.a and Baltimore should have resumed, is
,f, st-eken ou,-aad the lst day of November, rs
% p,or.ly and uncondl;ionaliy fixed upon, as the
sof Resumption But this bill is SO important in lis
,acler tina: we have taken some pains TO lay 1t forth
10 before readers.
AN ACT
Coaceraieg the Baahs of this Commonwealth.
Passed March 2j;h, lsia
3, /. enacted by The General Assembly, That so
h of any act as subjects the Banks of this Common
ath 10 pay ten per cent. damages, and fifteen per
81; interest for non. payment IN specie OF any note,
or check due from such Bank, shall be and the
as hereby suspended until the first day of Novem-
laa be IL fayt&cr enacted, That so much of any act
acts as prohibits the several banks OF this common
9Th :-oia ISSUING nov or hereafter notes for less
20 or denomination than twenty dollars, and from re-
nr 10 payment on deposit the bank notes OF any
located without this State, of less denomination
ten dollars shall be suspended during the pleasure
the leg,,'lure ProriAed That nothing in this act
4aeI shall he so construed as to authorize any
!9 nut IN circulation the notes of any bank located
bout this State of I less denomination than five dol
7ai proriied also, That nothing herein contained
10 construed as TO authorize any bank or branch
eoi 10 ISSUE put IN circulation the notes OF any
within the commonwealth, OF less denomination
1 i've dollars, except as is hereinafter provided.
Ind be il further eaacftd, That 1t shall be lawful
a sad Banks to continue the issue Of notes OF the
,5mna'ion Of one and two dollars, as heretofore au-
.zs6 by law until the first day Of January next,
q. which time the authority hereby given shall cease
determine which said notes. whether issued before
Alter the passage OF this act, shall be PAYABLE IN
, ? On demand. whenever presented at the Bank or
.sach a, which the same may have been issued and
failure thereof il shall he lawful for the holder OF
f. sad notes 20 recover the amount thereof, with
-atg Use per cent damages thereon, by warrant be-
Justice Of the Peace Prorided, That the
..-e amount Of SAID notes Of any Bank or Branch
eoi in circulation at any one time shall not exceed
per cent on the whole capital OF SAID Bank or
lrch
Ee Il fur,her enacted, That the several! Banks of
Commonwealth shall, from and after the irst day
November next, pay all demands against them IN
sl.e when demanded PrOridsd, Tha, after the day
;eby fixed Tor specie payments, the said Banks shall
be compelled to pay specie for any note held by, or
@ 70 any other Bank, or incorporated company with
aaAr powers, which does not redeem lis own notes
;ay is depostes when demanded in specie.
b. It farther epacted, That no Director ofanv Bank
Branch thereof shall he allowed to become indebted
3-ncpll, nor shall any firm IN which Director IS a
l'aer become indebted principals in greater sum
III five thousand dollars, but the Indebtedness OF
10 shall not be construed TO affect the right OF
Director in his individual. character 10 become IN
o'. 30 the SAID Bank or Branch IN greater sum than
Sc ID rsand dollars; and President or Director oil
PAS Savings Bank, or General Agent of any Mannac-
'-'n- Miaing Company, shall be hereafter eligible
"a Director Of any Bank: Provided however, that
us provision shall not apply till after the next annual
e'Gg %: the Stockholders for the election of Drec.
: No. shall tie said provision apply to The Exchange
a.aA OF rrnia, or TO the Bank OF the Valley III Nr'
: a. until the election III May, NJ.
ind Jc further enacted, That no officer or drec-
'o' Bank shall hereafter vote by proxy for any
Sloder in any election of directors or officers of
'-6 tor shall any proxy be valid which shall have
IN executed sixty days before the time OF any cleo
: Ee Il fur;hcr enacted, That the notes bills Of
nh. western Bank of Virginia. and Of the Mer
AIS ard Mechanics Bank of Wheeling, and their Sc
r- branches, shall hereafter be receivable in pay
l ty the Shertfs and other Collectors of the public
'.aaa Of all public dues 10 this Commonwealth, and
scha5sc or payment of trust deeds, executions, and
e' demands, in conormh? 10 the act passed al The
'eut session Of the General Assembly, entitled "an
'evying the &C, of 92nd OF June, 1881 concerning
Proceedings OH executions, trust deeds and other
sA4na., ia certain cases, IN the following countess
a 90 say, Brooke, Ohio, Marshall, Tyler, Wood,
-A'on, Mason, Cahell, kanawha, Logan, Wayne,
'1'oosalia, Preston, Randolph, Marion, Harrison,
.7f', BTaxion Fayette and Nicholas, and in no other
MY OF counties within this Commonwealth.
: tint be Il further enacted, That 1t shall be the
..y OF tho Treasurer Of the Commonwealth, on the
-sh'h day of January in each year, whensoever the
s or bills Of said Banks and their Branches or e.
~ Of them, shall be on that day of value less than
y with those of the deposit Banks at Richmond, 10
" the Cashiers Of the said Banks ana Their
inches, or many Of them whose notes or bills may
such time, times, ofa deprecated value at Rich
l IS aforesaid, of the amount of the notes or bills
such Bank or Banks, or their said Branch or
a'hes Of the amount OF its their notes or bulls re-
'"'e.r, that may on that day remain on deposit 10
credit Of the Treasurer Of the Commonwealth
Shall be the duty of the said Bank or Banks, and
sad Branch or Branches, and they are hereby re-
'rl, within sixty days after having received such
,.' 10 pay, or provide, that any balance, or
'''es which may remain against them respective
deposit, said day, to the credit of the Urea
snail be paid at the City Of Richmond in other
F' or funds Of par value, with the notes or bills
"'e deposit Banks in said City.
ind he II further enacted, That the several Banks
'epor. 10 the Executive in addition TO the quar-.
statements OF their conditlnn now required by
comparative statement of their condition for the
'esPondIng quarter of the preceding year, which
.tnens shall be published by the Executive in al
~ y, '"o newspapers in the city of Richmond.
~ ind be 1t further enacted, That the general meet
o. the stockholders Of the Bank Of Virginia shall be
'ea'er held on the second Monday in January annu-
!rand the general meeting of the stockholders of
Farmers Bank shall be held on the Wednesday af