The Lancaster gazette. (Lancaster, Ohio) 1846-1852, 1850-05-31
AN ACT
AN ACT
To provide for taxing Banks and Banking compas
March s, 1850.

AN ACT
To provide for taxing Banks and Banking cOmpas
mes
SEC. /. Be IL enacted by the General
assembly ofthe State of Ohio, That the
cashier or president OF every banking in
stltution III the State, whose charter does
not prescribe any particular mode of tax
alton for the same, aud every banking in
stllutiOn hereafter established IN the State,
shall annually, within ten days after the
fifteenth day Of November, make out,
under oath, and transmit by mail, or 9TH
erwise, to the auditor Of State, state
ment showing the amount of the capital
stock of said bank actually paid in aud
existing, undiminiShed by losses, aud the
amount of surplus or contingent fund
then on hand, deduclIng, however, from
such surplus or contingent fund, the a
mount OF money paid for real estate be-
lunglng to said bank, and upon which it
pays laxes in any otner manner than that
which is hereinafter provided.
SEC. 3. The Auditor Of State shall,
annually. as soon as he receives such
statement, ascertain the total per centum
vi taxation assessed tur all purposes. on
money at interest, at the place where
such bank is located, and shall, ifhmedi-
ate y thereafter. assess upon such capital
stock and contingent iund, per cenlum
uilax equal to tina, so aseertaIned.
SEC. 3. That SO soon as The amount
oi such YAK is sscertained, The said audit
or shall inform such bank thereof, and
SAID bank shall pay the same to the
Treasurer Of State, upon The order Of the
auditor, aud shall have lien upon the
stock Of each Of lis Stockholders for the
reimbursement vi his OF her srare OF the
tax So paId.
Skc. 4. Tha, ii AIRY existing bank,
the charter Of which does prescribe any
particular mode of taxation for the same,
shall, by vote o. the stockholders own
my majority Of its stock, consent to the
provisions ot this act, and file the evil
dence ot such consent with the Auditor Of
State, such bank shall thereafter, for the
purpose OF taxation, be subject to the
provisions ot this act, and shall be en-!
empl hom the payment Of any other tax
lmpoSed by its charter.
SEC. s. Ii any cashier or president
of bank, liable to be taxed under the
provisions oi this act, shall neglect or re-.
fuse to furnish the statement required by
the first section oflhls act to the Auditor
of State, such president or caShier,So neg
lecting and refusing, shall forfeit 10 the
Slate a sum equal to three per cent. upon
ihe capital stock Of such Lank, to be- re-
covered by all action Of debt, in any prop.
er court: Provided, however, that put.
ting into The post office letter contain
Ing such statement, addressed TO the Au-
ditor of State, at Columbus, shall be
deemed a compliance with the provisions
vi said section.
SIC. 6. That if any branch of the
State bank Of Ohio shall suffer its specie
aud sight funds in the eastern cities, al
provided in the fifiyfourth section of the
act TO which this is an amendment. to
fall below thirty per cent. of the amount
W no uuu on
) days, it shall be the duty of the board oi
control To require said ranch TO return Z
5 proportional amount of its circulation
! which circulation, when so returned. shal
be burned; aud thereupon the board o
, control shall declare a proportional q
> mout of the stock Of said branch extin
! guished.
SEC. Z. That any branch Of The Stat.
Bank of Ohio, when majority of 1t,
shareholders shall so determine, may
with the consent OF the board of control
return her circulation in any amount no
q to exceed forty per cent, and the boart
OF control shall. upon the receipt of sale
7 circulation, burn the same, and thereupor
declare a proportional amount OF the
3 stock Of said branch extinguished; but il
a no case shall said branch be permitted L
' reduce the amount # her safety fund.
> SEC g. All lawsand parts Of laws
Inconsistent with the provisions Of thi
: act, are herby repealed.
BENJAMIN F. LETTER,
: Speaker Of The House Of Reps.
CHARLES c. CONVERS,
Speaker ofthe Senate.
March go. 1850.
II DR. ElIzABETB BLACKwELL.-Th,