Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1845-03-01

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proceedings were instituted. and ihereupon
al the properly and assets of such brunch
shall DO restored to il. dircc'ors.
SIC. 20 If the board of control, shall.
IN any case, fail 10 proceed in tho manner
prescribed IN tho foregoing sections OF
,h's ac'. 10 providing Tor the payment OF
Tue outstanding notes OF circulation, and
IN closing tho affairs of any branch that
shall have committed an &C, OF insnlven-
! cy, the holder Of any Of i,s note, OF circu.
laIion, or other creditor Of such branch
may IN case payment OF such notes Of cir,
cniauon or other claim has been refused
~hen lawfully demanded, and remains
/ uhpaio' apply TO any court OF compe-
'ent jurisdiction for ito writ. commanding
me Board OF control go TO proceed; and i
shai De The duty Of such court, after citing
such board TO appear. and show caus. w. nv
such writ should not issue, and upon IN.
hndiss OF jury that such act Of in solven.
cy mas bern committed. to issue their writ,
cnmmahding saic board of control. forth
with to- proceed, in the manner pointed on,
IN The preceding sections of hi, act. 10
provide for the payment OF the outstanding
n"tes OF such branch, close Up lie affair,
and make application Of its assets.
IN RELATION TO INDEPENDENT BANKING
COMPANIES.
Sec 30. Each company ,ha, shall hav.
elected 10 carry on it. business. as an in
dependent banking company and Shall
nave complied with the requirements oil
ms ac'' preliminary to the commencement
OF banking business, shall before it shall
commence such business, and before il
snail be held to have acquired corporate
powers, deposit With and transfer 10 the
treasurer Of State certificates Of the fun
ded debt Of this state, or Of tho United
States, al least equal in amount 10 the A.
mount OF Its capital stock, at such time
PAID IN; and from time TO t,ms 40 an ad-
'ional nsta'ment, or portion. OF its cap.
'tal stock shall be paid in. additional GER
uhcales OF the funded debts above .peci
ned, at least equal in amount to the amo u mt
oi such additional payments of capital
stock, shall. within thirty days after such
payment, be deposited " II and transfer
red to The Treasurer of State, but no sue h
certificate OF funded debt shall be received
oy sara treasurer.at rate or price above
Inc average selling price OF such ccrt,f-
Gates, at The New York stock exchange
'of The four weeks next preceding the
line oil the receipt thereof by the treasu
urer. nor shall any certificate Of the fun,
ded debt Of this State be received at any
rate above its par value, exclusive of the
unpaI1 interest that may have sccrued
thereon; and il such company shall fail TO
make deposits or Transfers Of stock, as in
Mi se~iiOn required, al, its franchises aud
powers derived from this act, excep, such
IS 'iay DO necessary 10 settle up its affairs,
hall Immediately cease and determine.
) 81. The Treasurer OF State shall
deliver from time ~ lime as he NAV be
pI'pared SD 10 do. 10 any indepe ndeni btn-
KING company that may Ia a entitled it,
'et thei ETC. on the written ord, e Of the
president, aud u majority Of is dirrc orst
no ior clrculi,ion to a"y amount not ex,
cte ing the v .lue of the ccrIii .aics of
funded debt deposited with, and transferred
10 him by 81 h company as prescribed by
tn prec,d ng se;Iion; but at 10 Time .hal
The total amount OF such notes, delivered
to any such company, exc g rfr times
the amount at snch lime actually paid in,
on It's capital stock, and rcmaining a,
aPla stock, un diminished BY losses or
o herwise.
! SEC. 30 In order 10 furnish suitable
notes for circulation 10 such independent
banking co npaniss, the Treasurer OF State
is hereby authorized and required l, cause
ID be engraved an printed, in tho hes
manner, 10 guard against counterleitng,
such notes, IN blank, of the several de-
nominations provided for in this act. as he
may from time 10 time deem necessary 10
furnish 10 such Independent banking CON.
plnlrs, according TO the provisions herein
after set forth; which notes shall be conn
'ersSned. numbered, and registered in
proper books, 10 be provided and kept for
tina, purpose, in the office Of SAID Treasu>
rer, under his direction, by such person or
persons as he may appoint, so that each
denomination Of such circulating notes
shall bear he uniform sig"ature Of one of
sIch register; and all the notes Of each
separate denomination shall bea the same
device, and ar general sImiii ude; and
the notes or bills To be- SD countersgned
shall have STAMPED or printed on their face
the w'rds secured by the edge Of
Stock
Sec 80. The plates S, dies. and malerr.
- " NC PtVSuiCu ny lhe treasurer OF
State, 'o- the printing and making he cir
crla'ing notes, provided tr in lhe thirty
second section OF this act, shall remain
in the custody Of said treasurer and uns
der his direction; and The ex prnse neces-
sarlIy incurred by him, in exeruiirg the
prov slons Of this at, shall be audited and
set ed by the Auditor OF State, and pa d
Out OF any moneys in The Treasury nc,
otherwise appropriated; and for the pur-
pose OF reImbursing the same to the treas.
nfy' the SAID treasurer is hereby auhori
ed and required 10 charge against. and
receive from, each company receiving
such circulating notes. such rate per cent
thereon as miy be sulfi lent fJr that pnr
pose, aud shall, from limo 10 time, equal
20 SAID expenses among he companies 10
whom such circulating notes NAV ma C,~