The New York herald., 1845-03-03

d. s. Bank .......... 5h
&: s::aj;ss :!.;:: * & & u s.< ~
variation in quotations. notwithstanding the fears enter
tanned by many that panic would depress prices very
Saxt Railroad and Illinois, skies ths first having declined
three per cent, and the latter two.
The Treasury notes issued under the different acts OF
Congress rapidly going out OF circulation The month
y reports Of the Register Of the Treasury Department
show the amount outstanding.
TREASURY NorEs OUrsTANDirG.
Amount Of the several issues outstanding, Feb.
Amount unto Of the several issue. outstanding
March !, ls46,. .................... l,244'779 y
Amount redeemed in March,. .......... $3l6,2s9 Is
At this rate viii only require few months redeem
We have % sdvices from the Legislature Of noi. up 10
The 10th Of February there being OF that time only twelve
days Of the session s res. deal q .n.e:y !: felt on
upon the bill reported from the Finance Committee pro
vdng for increased taxation pay portion Of the inter
the State debt The features Of this bill do not
far the payment Of interest is concerned. The
proposed by this bill but fifteen cents on the hundred
iollars, and would begin to raise amount large
enough to meet the payments Of interest suggested by
The Bank Bill Of Ohio has been officially published 1t
contains seventy five sections which fill nearly twelve
columns of the State journal We have endeavored to
condsnse them give the principal features in
columns.
Section l. States that not fewer than five persons
associate and form companies to carry on banking
the authorized by this act shall mot exceed six
millions, one hundred and city thousand dollars.
and number Of companies to formed in each
SECTION and6 Appoints and regulates Board Of Bank
Commissioners to continue in Office one year.
SECTION Compels those associating to form compa.
to state the assumed where located amount Of
capital stock, number Of shares residence and number
Of shares held by each member Of the company.
SECTION 8. No company, permitted to commence bust
under this act branch the State Bank Of Ohio
unless its capital shall be at least 500
depeud0nt
$50 900 in either shall the capital of compa
ny exceed $4,000 Proyi6s howsy.s that the cs
deposited with the Treasurer Of State collateral secu
y for the redemption Of the notes of circulation Of any
Of the capital stock Of such company At thirty per
cent Of the capital stock Of each company shall be paid in
at least shall be in gold and silver coip and shall be in
the actual possession and bona de the property OF the
company at the time OF the Of its banking
sEcrlsr States that If Commissioners appointed by
the 5h and 9th sectioas shall find applications from
companies from any district than this act allows they
shall prefer such Companies have the largest capital
Provided at least thirty per cent thereof shall have been
paid in also, the company companies whose stock is
in the largest proportion owned by citizens Of the
ty in which such company is formed the company or
ed by the citizens Of the States and the companies
stituted BY the most responsible stockholders.
state Bank Of Ohio appointed by any number Of compa
ies not less than seven each company represented BY
one person at the board or any two or more companies
times the Bank Commissioners may direct meet at Co
lumbus. They shall keep office in Columbus, which
with their books papers, records &c. shall be at all times
open to a committee Of the General Assembly They
shall procure and furnish each branch with notes for Cir
time to time to each They shall visit at time
branch and investigate its condition They shall have
other liabilities They shall require reports under oath
from any branch as frequently IA they may deem proper
iS Provides for the compensation Of the Board
Of Control
SECTION l6 The Board Control until the affairs OF
the several branches Of the state Bank Of Ohio shall be
of Bank Of Ohio capable contracting and
prosecuting and defending in suits actions at law,
other acts and things necessary 10 effect the object con
templated in this act BY the formation OF said board
BY
Contro BY the Cashier Of the branch BY
which they issued
lated follows On the first hundred thousand doss
any lesser amount Of capital not more than twice
sand dollars or part thereof, not more than once and
half o the amount of such capital one hundred thou
sand On the third hundred thousand dollars or part
thereof than and quarter the amount OF
such capital two hundred thousand On the 4th hun
dIed thousand dollars part thereof not more than once
the such capital three hundred Thousand
and OH any amount capital four hundred thousand
dollars not more than hreeourihs the amount OF such
capal hundred thousand and on its portion Of
the safety fund an amount equal thereto.
SEcrIer 2ist Before the Board OF Control deliver 10
to nav over or deposit TO thu credit Of said board
either in money in certificates Of the stock Of Ohio or
of the United States their current value In the city Of
New York--but not above their par value-an amount
equal to per cent the amount the for circu
lation delivered The amount deposited 10 be called
the Safety Fund.- to be inserted and reserved for the
demption Of the circulation of any OF said
branches that may fail to redeem its notes.
SEcTIoN 30th. In relation to Independent Banking Com
panes:-Every company before commencing business
shall deposit with and transfer to the Of the
State certificates Of the m ded debt Of Ohio and Of the
stock.
sEcrIoN 3ls The Treasurer Of the State shall deliver
to any Independent Banking Company notes for crcula
ton ts any amount not exceeding value Of the certif
Gates Of funded debt deposited with him but at no time
shall the total amount Of such notes delivered 70 any CON-