, 1842-10-15

Va SoSAA VI ~ IiiN
officers of the bank, branch or agen.
cy, as the Use may be, the applicant
sha | be entitled to receive a loan o
one half OF the amount Of the apprais,
ed value Of the real estate so mortgag
ed, in no case to exceed to any one
individual the sum of--dollars
and should there be applications for 6
greater amount than each county:
apportionment, the amount apportinn
ed to such county shall be divided a
mong the applicants for loans prc
rata, in proportion to the amour.
each applies for, and the deeds o
trust SD given to secure the amount:
borrowed shall be recorded in the
office of the clerk of the Circuit Cour'
of the county in which the real es
tate is situated, and which deed o
trust shall remain rs a lien on the
said real estate, until the whole a
mount borrowed shall ne paid off and
discharged, when satisfaction of the
same shall be entered of record by
the officers of the branch, bank or a.
gency as the case NAV he.
The Bank and Branches shall keer
all the transactions growing out o.
the provisions of this act. separate
and apart form their usual banking
business; and shall have a bool. OF
books provided for that purpose
The trust fund notes issued by the
Bank. shall lear IN interest from the
date Of each loan. Of three per cent.
per annum, and the amount ~oiinterest
collected from the borrowers, shall
I've app"riioned and set apart as fol-
lows: To the Bank enc per cent.
'iere"i' 10 cover expenses &c.; I"
tie State Of Missouri two per cent.
Hereof, end the remaining three per
cent. 10 pay the interest N the trust
fund notes issued. Now rs the trust
'und notes issued will only bear in
,ercst from the date of each loan.
consequently the interest rerciv.d
b, the Bank will he lhree per cent.
more than uha, interest She pays.
n per cent. Of which she i, to re
talo md the other two per cent. To
he place To- the credit OF the State,
To 'c 4 drhr 10 the sinking fund now
established by law.
In all Gases of debt whore an exc.
cutlon shall he placed IN the hands of
the sheriff or constat lie OF anv conn
" IN IhiS State. against any citizen
thereof, the said sheriff or constable
shall not proceed 10 levy said exccu-
ton upon the properly If the de.
iendant, unless the plaintiff viii en-
dnrse on the execution that he will re-
celve from the sheriff, the amoLn, of
the SAID execution in trust fund notes
issued under the provisions of this
act; and if said plaintiff shall refuse
In make such endorsement the sheriff
shall grant 4 stay of execution To the
plaintiff for the term of two wears
from the date Of the SAID execution:
proriTed h'werer, That the lien OF
The Judgment upon which such exc.
cutIon was issued, shall not thereby
be impaired for the SAID term of two
wears. but shall tc extended and re-
main valid for Il at time wi;hou, be.
in. renewed. In cases where per.
Sonal property is executed either un-
der Judgment obieined before the Gar,
cui, Court or justice of the peace,
where The property remains in the
hands of the Defendants, and where
the stay of execution has been ex.
tended to two years rs aforesaid the
defendant shall give security, TO be
approved of by the sheriff or consia.
bic, as the case may be. for the safe
delivery of the property at the termi.
nation of the stay and if such secu
riiy is moi given within ten DAYS az
ter the stay is granted, the sheriff or
constable shall then proceed to levy
and sell the property under the exc
cution.
The trust fund notes issued under
the provisions of this act shall be re-
ceIved into the State Treasury for
taxes and all debts due the State and
Counties without calculating the int
rest thereon; but each note shall be
received atils nominal value and shall
he paid out in the same manner to
all persons having claims upon the
State Treasury. And The Bank o,
the state State OF Missouri and il,
branches should be required to re
ce've the trust fund notes on special
d"posire. and To pay in kind To sucl
depoSitors withou, interest beins cal.
c"'a'ed either in paving or receiving.
No Broker should be permitted I,
exercise the business of a Broker If
this State without Fl, ST nbtoipinu &, l.,