Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1851-05-08

. Pohls OuIlH-LldOlllIleS 10 II
= stockholders, on account of none
= paid in on capital stock and dividend
thereon.
!. Sec. 81. No banking compan
d shall, either directly or indirectly
n pledge, hypothecate, or exchange
r any OF its notes Of circulation, 70
!; the purpose Of procuring money t
q be paid on its capital stock, or to b
used in its ordinary banking opera
E tions, or for the purpose of purchas
7 ing stocks to be deposited with tn,
/, Auditor ofState; nor shall any bank
. ing company apply, or permit to b
, applied, hypothecated, or pledged
any portion of its capital stock, Il
the purchase OF certificates Of stock
to be deposited with the Auditor o
State, as collateral security for III,
redemption its notes Of circulation
Sec. D. No banking company
shall, during the time il shall con
tinUe IFS operations as bank. with
draw or permit to be Withdrawn
either in form Of individends, loan:
TO stockholders for a longer period
OF time than six months, or in any
other manner, any portion OF IFS
capital stock, and if losses shall at
any time have been sustained by any
banking company equal TO or exceed
ing its undivided profits then on hand,
no dividends shall be made, and no
dividend shall ever be made by any
banking company, while it shall con-
iinue its banking operations to an
amount greater than its net profits
then on hand, deducting therefrom
its losses, bad and suspended debts,
and all debts due to a banking COM
pany on which interest is past due
and unpaid for period OF six months,
unless the same shall be we'll secured,
and shall be in process Of collection,
shall be considered bad or suspended
debts within the meaning of this act.
Sec. %. The directors of each
banking company shall, semi-annu-
ally on the first Monday in May and
November, declare a dividend of so
much of the net profits OF the CON-
pany as they shall judge expedient,
and on each dividend day, the cash.
ier shall make and verify by his oath,
a full, clear and accurate statement
Of the condition Of the company as
it shall be on that day, after declar-
ing the dividends, and similar state
ments shall also be made on the first
Monday OF February and August,
in each year, which statement shall
contain, frst-the amount of the
capital stock actually paid in, and
then remaining as the capital stock
oI the company; second-the amount
Of the bills or notes of the company
then in circulation, specifying the
amount OF each denomination; third
the greatest amount in circulation
at any time since the making Of the
last previous statement as shall have
been exhibited by the weekly state
ments Of tine 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 Site, and the |
amount due 10 banks not Of this
State; fifth-the amount due 10 de-
positors; Sixth---the total amount OF
debts and liabilities Of every descrip-
tion, and the greatest amount since
the making OF the last previous state
ment, specifying the time when the
same occurred; sevenlh--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 COM
pany and in IFS possession al 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 SOL
vent specie paying banks or bankers,
in the cities Of New York, Philadel-
phia, Boston and Baltimore; tenth
the amount then on hand of bills or
notes issued by other banking COM
panies Of this State, and the amount
issued 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 oil this State, excluding in
The latter case, deposites in the cities
Of New York, Philadelphia. Boston
and Baltimore, subject 10 sight drafts j
payable in specie; twelfth-ihe
amount on hand Of bills, bonds, notes .
and other evidences Of debt discount {
ID or purchased by the company,
;pecifying particularly the amount Of !
suspended debt, the amount consid- !
,red bad, the amount considered .
doubtful, and the amount in suit or ]
q judgment; thirteenth-the value s
# the real and personal property =
leld for the convenience OF the COM )
,any, specifying the amount Of each; c
ouR4eenth--the amount of real es-
ate taken in payment Of debts due G
ha r0nopanu, Gfsaa1th fha announs Il