Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1851-05-12

anu III losses Snall ~ any llme nave pee
$ sustained by any banking company equa
+. to, or exceeding ils undivided profits thel
, on hand, no dividends shall be made, ano
3 no, dividend shall ever be made by am
, banking company, while it shall continu
its banking operations, to an amour, create
than its net profits then on hand, deductiEt
tbere(romi,s losses, bad and suspended deb,s
, and all deb.s due 10 a banking company
on which interest is past due and uupaid fo
q period of six ponths, unless the sam.
shall be well secured, and shall be in pro
cess. Of collection, shall be considered bae
or suspended debts within the meaning o.
4 this act 5ss s...45, ,-.-z ts.a
SEC. %. The directors of each bank
ing company, shall. semi annually, on The
first Monday in May, and November, de.
clare dividend OF so much Of The mel
profits of The company, as they shall judge
expedient, and on each dividend day, the
cashier shall make and verify BY his oath,
full, clear and accurate statement Of the
condition of the company as it shall be on
that dny, after declaring the dividends, and
similar statements shall also be made Oh
the first Monday Of February and August,
in each year, which statement shall contain:
First the amount ofthe capital stock actually
paid in, and then remaining as the capital
stock of the company. Second-the
amount OF the bills or notes Of the company
then in circulation, specifying The amount
Of each denomination. Third-the great.
est amount in circulation at any time since
the making Of the last previous statement,
as shall have been exhibited by the weekly
statements Of the cashier, specifying the
times when the same occurred. Fourth
the amount Of balances and debts of every
kind, due to other banking companies Of
the State, and the amount due TO banks
not Of this State. Filth-The amount due
10 depositors. Sixth-,he total amount Of
debts and liabilities Of every description, land
the greatest amount since the making Of
the last previous statement, specifying the
time when The same occurred. Seventh
the total amount Of dividends declared on
the day Of making the statement. Eighth
--the amount Of gold and silver coin, and
bullion belonging to such compeny, and in
its possession at the time Of making the
statement, designating the amount Of each.
Ninth-the amount subject TO be drawn at
sight then remaining on deposit with solvent
specie paying banksor bankers, in the cities
ofNew York, Philadelphia, Boston and Bal
timore. Tenth-the amount then OIL hand
of bills or notes issued by olher- banking
companies Of this State, ard the amount is
sued by banks not Of this State. Eleventh
the amount Of balances due from other
banking companies Of this State, and the
amount due from banks not Of this State,
excluding in the latter case deposits in the
cities Of New York, Philadelphia, Boston
and Baltimore, subject TO sight drafts paya-
bic in specie. Twellth-the amount on
hand Of bills, bonds, noes nnd other eyi.
dences Of debts discounted. or purchased by
the company, specifying particularly the
amount Of suspended debt, the amount con-
sdered bad. the amount considered doubts
ful,and the amount in suit or in judgement.
Thrteenth-The value of The real and
personal property held for the convenience
ofabe company, specifying the amount Of
each. Fourteenth-The amount of real
estate taken in payment of debts due the
company. Fifteenth-The amount of the
undivided profits of the company. Six
teen.h-The total amount the liabilities
10 the company by The directors thereof
collectively, specifying the gross amount
of such liabilities as principal debtors, and
the gross amount as endorsers or sureties.
Seventeenth--The total amount Of liabili.
ties Of the company, Of the stockholders
thereof, collectively, specifying the gross
amount Of such liabilities as principal debt.
ors, and the gross amount as endorsers or
suretes, which statement shall be forth>
with transmitted to the Auditor Of State.
SEC. Pa. Every banking company de.
riving any Of its powers and privileges
from this act, may take, reserve, receive
and charge on any loan or discount made,
or upon any note or bill of exchange, or
other evidence of debt, nt the rate Of six
Per centum per annum on the amount of
any such note, bill of exchange or other
evidence Of debt, so discounted, and no
more; provided, however, that interest may
be reserved or taken in advance, at the
time Of making the loan or discount, ac-
cordng to the usual rules Of banking. or
us calculated in Rowlett's tables; and the
knowingly taking, reserving, or charging
on any debt or demand payable to such
company of rate Of interest greater than
that allowed by this section, shall be held
and udjudged forfeiture Of such debt or
demand; but the purchase. discount, or
SALE of bill of exchange, payable at a.
mother place than the place of such pur>
chase, discount, or sale at the current rate
of discount or premium, shall not be consid-
cred taking, reserving, of receiving inter.
est; provided no agreement or understand.
ing shall be made that the same shall be
paid at any other place than that at which
ii is made payable. 81 -.-..ss..
SEC. 25. That total liabilities of any
person, or company, or firm, including in
the liabilitles Of company or firm, the
Liabilities of the several members thereof,
to any banking company herein authorized,
inclusive Of Liabilities as acceptor or accep-
tors of bona fide bills Of exchange, payable,
out Of this State, shall at no time exceed
one third, exclusive Of liabilities as accep-
n