Richmond daily times. [volume] (Richmond [Va.]) 1850-1853, 1851-04-04

dples oocofro mas Deen perfectly quiet ana orderly
The Fishing Season is now in "full tide.' AT all
the landings on the Potomac the fishermen active
ly engaged in hauling their senes and large quantities
of Shad and Herring caught, and sold the Shores
sent up to this place, for SALE Alexandria is the de-
is increasing every year. When the wind and weather
are favorable 1t is fine sight TO stand our wharves
and look at the fleet of fishing vessels on theis way to
and from this place. The river, as far as Fort ash
ngton, is sometimes almost covered with these hand
some looking little vessels.-Aler. Gaz.
AN ACT to incorporate the Bank of the Old Domn-
ion at Alexandra.
l. Be it enacted by the General Assembly of Virgil
mia, That shall be lawful to establish bank in the
town OF Alexandria, the capital stock of which shall
not be less than two hundred thousand nor more than
five hundred thousand dollarsto be raised by subscrp-
ton in shares of hundred dollars each Books of sub
scrpon, for raising the stock aore sad shall be open
ed the first Monday in May next-and remain
open, till the stock shall be subscribed under the su
pervision OF certain commissioners named.]
2. Any five OF the Commissioners shall have full
power act; and their rights, powers and duties in
laon to said bank shall be in all respects las tar as ap
pcabe) such as are prescribed by the Code oVrgnia.
The said Commissioners shall be and they hereby
authorized to receive subscriptions payable in money,
or payable in the stock OF this State the bonds Of
any Improvement company or companies guaranteed
by the State, the medium OF payment to be expressed
at the time ofmaking such subscriptions; and the stock
guaranteed bonds to be transferred 10 the Banks,
and the money paid over the President and
Directors thereof, shall be elected.
3. 1t shall be lawful for majority of the persons
named Commissioners at Alexandria, to select any
additional places tor opening books OF subscription to
the stock of said bank and to appoint Commissioners
superintend the same.
4 The said bank at Alexandria, shall be called
"The Bank of the Old Dominion" and by this name
shall be body polite and corporate with all the rights
powers and privileges conferred upon banks of this
State, by chapters 81 and So of the Code OF Virginia.
except the seventh section OF chapter 58-and shall
moreover be subject to all the rules. regulations and
restrictions imposed by the said 57th and 5Sth chapters
SO far they not inconsistent with this act; and
cept farther, that the stockholders shall elect the D
fectors.
5. Whenever the said Bank shall legally transfer to
and deposle with the Treasurer fths State in
for and for the purposes Of said bank certificates of the
public debt OF the State, the bonds OF any improve
ment company or companies guaranteed by the State,
bearing six per cent interest," TO the amount OF two hun
bred thousand dolars-the said "Bank OF the Old Do
minon shall be authorized to deliver notes OF any de-
nomination it may select not under five dollars, to the
Treasurer, in the usual form of bank notes intended
forcrculaon to the full amount OF the stock, guar
aned bonds deposited, upon the face OF which shall
be printed or expressed the words secured by pledge of
State secues-and such bank notes shall be counter
signed by the said Treasurer, and numbered and regis
tered proper books to beprovded and kept tor that
pose in the office OF said Treasurer; and such notes so
countesigned, shall be e-devered to the proper officer
of said bankand the said bank receiving the
may thereupon issue its notes aforesaid, to the full
amount of the stock so deposited, and none others
whatsoever-and from time to time, upon further depo-
sites OF such certificates, of debt, or guaranteed bonds
by said bank, in OF not less than twenty thousand
dollars, the said bank shall thereupon, in like manner
issue notes countersigned as aforesaid to the full
amount of the stock deposed but such issues shall
not in the aggregate, exceed the capital herein proy
ded.
6. The treasurer shall at the time of receiving
such certificates OF stock, guaranteed bonds give to
the said bank, authority to draw the interest thereon
the same may become due and payable tor the use
OF said bank; which authority shall continue in force,
until the said bank shall fail to redeem any of its said
issues in specie-n which CASE the party charged with
the payment OF said interest," shall be forthwith notified
OF such failure and thereafter such interest shall be pay
able to said treasurer to be applied il necessary to the
payment OF such notes.
T. In the said bank shall, at any time hereafter
on lawful demand, during its usual hours OF business
at the place where sucn notes are payable TAIL refuse
TO redeem any such note or notes. in the lawful money
of the United States the holder OF such note or not s.
making such demand, may cause the same to be pro-
tested Tor non payment, In the usual manner-and the
Treasurer receiving and fling such protest. shall
forthwith give notice IN Whiting, 10 the President or
Cashier OF said Bank, to pay the same; and if he or
they shall omit TO do tor days after such notice.
the Treasurer shall, Immediately thereupon (uness he
shall De satisfied that there is good and legal defence
against the payment OF such note notes. give notice
at least three newspapers published in the State that
all the notes issued by the bank aforesaid will be
deemed out of the property his hands deposited
aioresaid-and it shall be lawful for the Treasurer
(and he hereby equred) TO apply the said prop
erty to the payment OF such notes, with protest
and me esl-and TO adopt such measures for the pay
men OF all such notes. will, in his opinion most ei
eclually prevent loss 10 the holder thereof 10
this end he shall have power to sell the same or so
much thereof as shall be necessary at public auction
3. The SAID Treasurer may 1e-transter the said cer-
caes OF debt, guaranteed bonds, any part there
OF, upon receiving and cancellng equal amount of
the notes issued aforesaid, unless in his opinion the
security OF the notes outstanding, should require the
Cur,a ha cd Nhnnfh Cr,olo Of ,,aft,o
certificates OF debt, or guaranteed bonds deposited
shall be paid the Treasurer he shall notify the said
bank thereof, and may pay the money received, to
such bank upon the delivery to him OF all equal amount
of the circulation OF said bank which he Shall cancel
as aforesaid may invest the wholly or in part
he may deem necessary Tor the security OF such notes.
in other such certificates or bonds.
9. Should the Treasurer countersgn notes of the
said bank to greater amount than the stock guar
aned bonds deposited or wlfuy reduce the amount
OF such securities in any manner, below the amount
OF the outstanding notes OF said bank, he shall, upon
conviction be judged guilty OF felony, and punished by
a fine of not less than thousand nor than ten
ten thousand dollars, and by Imprisonment in the Pen-
tertiary House, for less than three, more than
fifteen years. and any officer officers of the said bank
who shall aid or assist the Treasurer in issuing coun
tersigning larger amount OF notes than the of
stock or guaranteed bonds SO deposited as aforesaid,
shall be adudged guilty OF the like offence, and liable
to the same conviction and punishment.
20. Each and every stockholder.in said bank, shall
be liable and rateaby out ohs private estate Tor the
circulation and the express contract debts OF SAID bank
the amount OF the stock owned by him, upon failure
the said bank redeem its pay said debts
The total amount otthe paper circulation of the bank
hereby Incorporated, shall never exceed five times the
amount OF coin in possession, and actually the property
of the bank 1.-THE coin be reduced less than one
fifth of its paper CT circulation, the bank shall thence
forth make no new loan discount, until its coin
shall be its paper circulation, at least, the por-
portion of to five: Provided. however, that this
act shall rot take effect, to authorize the making
of loans odiscounts, the transaction OF any bank
ing business, until the minimum amount OF the CAPT al
hereby authorized, shall be deposited in Stale stocks or
guaranteed bonds, as aforesaid.
H. 1t may be lawful for Director for the "Bank of
the Old Dominion" to be appointed from each Of the
counties Of Fairfax, Fauquier and Culpeper.
~. The Charter oil the said bank shall continue and !
be in force fer twenty years from and after tn passage
thereof, unless repealed or modified by some iu
ture laws.