Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1843-03-14
NEW sERIEs.-voL. III. NO. .3S.

VI supreme court, ana De entitled to re
cover the proportional part Of any sum 8,
paid BY him, according TO the amount o
stock BY him held in such bank, from III,
other directors, or any Of them; and an,
stock kholder who shall have been obligeC
to pay any demand against such bank, o
which he is or vas a stock holder, shaI
be entitled TO the remedy aforesaid, a
gainst the directors, or either Of them
for all sums SO paid BY him; and also
the same remedy against the other stock
holders in such bank, for the recovery o
the proportional part OfaIl such sums 81
paid by him, according TO the ammoun
off stock BY him held in such bank; but
in no event, shall the private property o
the stockholders be liable 10 contribute Il
reimburse the directors, or either ofthem
for any payment made by them, or eithe
OF them, on their aforesaid liability. AnC
all such suits shall be set for hearing, anC
heard at the first term Of the court mex
after the filing of such bills, and a de
cree entered according to the eqnity O
the case, unless good causes be shOwr
the court for q continuance.
Sec. 8 1t shall not be lawful for any
such bank, or the president or cashier
thereof, except as hereinbefere prOVi-
ded, to purchase or sell, or otherwise
deal In public stocks OF any kind, wheth
er ofthe United States or1Of individual
States. or Of any incorporated company
whatever; nor shall any such bank, either
directly or indirectly, receive or reserve,
as interest or discount, greater sum
than at The rate of six per centum pei
annum, in advance, upon the amount o.
any loan made, or for the discount OF a
ny note, bill, or other evidence of debt
or upon any renewal thereof either BY
way Of interest or discount, or under any
other charge or pretence whatever; snd
every bend, bill, note or other evidence
of debt, upon whicha greater sum than
at the rate Of six per ceDtum per annum,
in advance, upon the amount thereof,
shall be received or reserved, by way of
interest or discount, or upon any other
charge or pretenee, BY any such bank,
shall be null and void; and any director,
or other officer Of such bank, consenting
thereto, shall be liable to such bank for
all damages or losses, that may accrue
10 such bank, by reason of receiving or
reserVing such excess; provided that
nothing therein contained shall be so
construed as to prevent any such bank
from buying and selling bona fide bills
OF exchange at their market value.
Sec. 10. That SO much ofthe thir-
teenth section of the act, 10 which this
is an amendment. as prohibits any such
bank, in any manner, paying out or put
ting in circulation any Of the circulating
notes ofsucb bank, when the proportion
ofspecie to the circulation of such bank
is less than is therein prescribed, until
the legal proportion of circulation, and
gold and silver coin is regained, shall not
be construed to prohibit such banks from
paying out to depositors, for deposits ac>
tHally made, the circulating notes ofsuch
bank, when desired by dePOsitOrs, in lieu
Of specie.
Sec. ii. The State Of Ohio shall have a
lien on all the real estate of the directors
and stockholders of any iusOlvent bank,
for the benefit Of the creditors of such
bank, from the date of the application of
the Bank Commissioners to the proper
court for the appointment of special re-
ceivers 10 close up its concerns according
to law; provided that the sale of any such
real estate, upon Judgment in favor Of
any individual holder of the circulating
notes of any such bank, shall discharge
such lien on the property so sold.
Sec. IL. Itshall be the duty of the
receivers appointed BY law to settle up
the affairs Of any such bank, 10 make and
declare dividend every month to the
creditors Of the bank, which they are
appointed to close up, in the order STA
ted in the twenty second section Of the
act entitled Gan act further to amend the
act entfTted 'an act providing for the ap-
poihtment of Board Of Bank Commis.
sjoneTs, and for the regulation Of banks
within the State of OhiO,' passed Febru.
sry twenty-five. one thousand eight hnn.
dred and thirty-nine. and enforce the re.
sumption aud continuance Of specie pay
ments by the banks within the State Of
Ohio, passed February eighteen, one
thousand eight hundred and forty two, in |
to the claims presented. No
tice Of the time when, and the PlSce
where, such dividend shall be made, shall
be printed atleast once in some newsPa,
per and circulated in the place where
such bank is located and the twenty third
section ofthe said last recited act, 10 and
the same are hereby repealed. !
Sec. I3. That John s. GrOeSbeck,
e. s Haines, Jacob Rssor, and their
late associates, and such other pelsous as
may associate with them, aAd their sue
cessOrs,are hereby crested body polite
and corporate, BY the name Of the Frank.
lin Bank Of Cincinnati, for the term OF
6ftssn years from the first day Of May,
ammo dOmini, one thOusOnd eight hundred