The Cadiz sentinel. [volume] (Cadiz, Ohio) 184?-1851, 1851-04-30

may prescribe. Such blank circulatin
4 notes shall DO couniersigned, numbered an
Registered, in proper books 10 be provided m
kept Tor that purpose in The Office of sal
Auditor, under his direction, by such perso
or persons as the said Auditor shall appoin
4 for that purpose, SO that each denomination
lofsnch circulating notes shall be Of the sam
similiiude, and bear The uniform signature q
such register, or one Of such re eaisIers. II
Sec. Z. Whenever any company ,forme
Tor The purpose Of banking, under the provi
sIons OF this act, shall lawfully transfer 1
the Auditor Of Safe, any portion Of III
public stock issued or 10 be issued by Ii
Stale of Ohio, or by the United States, sue
company shall be entitled TO receive from tb
Auditor an equal amUuht Of such circulatin
! notes Of different determinations, regisiere
and coUnieTsigHed as aforesaid; but sue
public sleek shall in all cases be, or be mad
/ 70 be. equal TO stock Of this State produ
icing al least five per centum enterest pc
annum; and it shall not he lawful for the Au
dior 10 take such stock Mt rate above Il
i PAT value, nor above its current market value
Provided, that the Auditor shall not Gurnis
TO such company circulating notes to an n
mount more than three times the amount O
the capital stock OF such compsny, nciualI,
paid in and remaining in such bank, und:
minisled by losses. The plates, dies a NJ
materials TO be procured by the Auditor 70
the printing and making Of the circulating
notes provided for hereby, shall remain ID
his custody aud under bis direction; aud III,
expenses necessarily incurred in executing
the provisions Of this act, sh1ll be audited
and settled by the Auditor, and paid out
ATTY moneys in the treasury, not otherwise
appropriated ;and, ior The purpose of REIN
bursting the same, the sad Auditor is hereIn
authorized and required 70 charge agains
and receive from such company applying fo
such circulating notes, such rate per centun
thereon as may be sufficient for That purpose
aud as may be just and reasonable. p" 7'
Sec. 9. Every such compsny is hereby
authorized, after having executed such cir,
culaIing notes in the manner herein required
10 make them obligatory promissory no,es
payable on demand al lis place OF business
WITHIN the Slaie; to loan ana circulate ihe
same as money, according to the ordinary
course Of banking Business, as regllated by
the laws and usages Of this State. .5.c 'aaa II
Ser. o. Every such company shall cause
TO be executed and signed, by The president
and cashier thereof, the circulating notes re-
ceiyed from the auditor, Of State, and sncL
notes shall thereafter be obligatory promisso-
~ notes Ui such company, in It's corporate
capacity, payable on demnnd, at is usua
place Of business. sNt balH. ..e.1 au.0 t5
- Sec. 10. Every company formed under
This act, after having procured the certificate
required in the fifth section Of this ac, shall
be. and hereby is, created body puIi,ic and
corporaie, with succession until the yent
elphleen hundred and seventy two,and there
af'er, until the repeal Of this act; and by its
maine shall have power 10 contract, and 10
prosecute aud defend suits and actions Of
every description stally as natural persons;
TO loan money, buy, sell. and discoun; bills
OF exchange, notes, and all other written ev-
ldences Of debt, except such as may be
herein prohibited; to receive deposits, buy
and sell gold nnd silver coin and bullion,
collect aud pay over money, and transact a u
other business properly appcrtaining 10
baRkine. subject to the provisions and re !
sfrictions oi this ac,, may acquire, hold and
convey such real estate as NAV be necessary
TO the convenient transaction of its business,
aud no more; but may, however, acquire
tit lie to any real estate pledged TO secure any
debt previously contacted Or purchased on
an execution OF order OF sale, 30 satisfy any
Judgment or decree in its favor,or which shall
have been conveyed 10 il ia payment Of any
previous debt; but shall not hold any real
estate, so acquired, longer than is necessary
to avoid loss of any partofI the debt, in
teres', aud costs for the collection or securi-
" Of which il was acquired; but at any time
before selling the same, upon being tender
ed by the last preceding owner, or his legal
representative, such sum as shall be necessa-
ry % save such company from loss Of any
part Of tho debt, interest, taxes, costs, and
other necessary charges for the collection or
secdrity of which said real oslnte was &C
quired, such Company shall Irelease 10 such
osner, his legal representative or assigns,
oil lie right. title, and interest therein. "A ~
4 Sec. H.. The capital stock Of every
s',, so"lpr sn"' 10 E.vneu '"'9 s.'ateS y 10y
nj property, and shall only be assignable ON
'pe poVss y: ,Ne sol'pany " spS" "l'nns' Y
~ Dy-lSWs'Sha'' h P'eSf.'pei eacn pana s'all
nave y hsn upon ~ s'ocK 4Wneu Cy ~
de eo.o's' and no s'oeE Shall oo ttansierrea
without tle consent o' 2 majority q we e.
Tsc,ors' while me holder sheTeot 70 lhdep'ed
20 me company.
N Ssc, h';,s lS So company sllall taSe' ~ se'I
curly tur any loan Or discount: zen upon
any part'ot It's capital stock; Uut the same