The Rutland herald. [volume] (Rutland, Vt.) 1850-1852, 1851-12-04
Y. %
Az .ACl to authorize the ba.'n"S' o.
banking

hi.ke-,.p ,-ar,iGa Il, Gra.ri .hsem5s
oJ q, ,'i,' r iesmUri, rs Jo'!o'r'
81. The irra.urrr of The state y
Hereby authorized ,nd required 10 ran>e
30 bs engraved ari p'in'ci. "a thr h"''
manner 10 ,uarl a,iin>' reunl"r!"rtln..
zach q,an,ltv OF circulating nnj"' ~ tn"
s,miltule Of bank notes ia himk. n' The
t! ifc,eW denominations auhnj4ci in
br issued hy the incorporated bans o:
mi. state, ~ lac may firm time To time
d en- necessary 20 catry into o:''ri IA"
provision. or this act, and of ,nc'' 'Hrm
a. nc may rrrscrihr. Sdcl b'a'k car.
rn,ating notes shal be conn'rr.'tHcd,
numbered. and registered IN proper
book. 10 Lc provided aud kept ior ,ha!
,urp,.c. 10 ,Ii. Office of sad trrlSiirr'.
under his direction, By such person or
person. a. The said treasurer shall ap-
pnin, for HAT purpose. 50 ,h't each
denomination Of such circulating n7'"-
.hail bear the uniform signature
OF such register, or any Of such re-
gs-,eri.
So Whenever my ASSOCIATION ot
per.ous, ,ol less than Ten ii rnmt'r.
residents &C. thi- state. formed for th"
.,rpo.e Of banking under ia" prr.i-.
ions Of this act. shall transfer tn ih'
said treasurer any portion OF the pn'hit
stock i.slr,l, or 20 hr issued. hy the
United States. the : a,c ui Ma>>H"hI-
..,t,, Ecw York Matte. Connecticut.
Rhode I.l,nh. New Hampshire, Nrr-
mont, Ohio. New Ir,rv. or Nirg uin.
suc', Association % persons shr' he
entitled TO receive from tn. >ni! tr"a-
.mrrr AZ -lia amount ct such c.rrl-
hating notes. If different drnomin"'i'rs,
,~.i.,ered and co,n,er,,gnrd Is af"re-
sail but such public stock shall in nll
ca,cs be. or -. made to be, equal To Il
sock producing ak per cent. per an
NUN AMI it shall moi b. lawful for The
treasurer to take such stoth =, a tate
r',oyc is par va'Gr. nor above It's car
rem. market ,alAc.
So. Such association i. hereby au-
:h,rzel, after having executed and
.igled sucl, circulating notes in the
manner r,1ired by law. 10 make them
ohl sa,ory proni,.orv notes. payable on
demand. at The place of business. within
til. state, Of such association, to loan
nnd circulate the same rs money, ac-
eor,lins to lie ordinary course Of bank
ing business. as regulated by the laws
aud usag-s Of TAI, state.
81. IN case the maker. Of any such
circulating note or notes. counlrrs'9nr'
and rcsi,t tered ~ aforesaid, shall al an.
time hereafter. on lawful demand, du'
ring the usual hours Of business, be.
tween the hours of ten and three . clock
al the place where suc;, note or notes
is or are psyahlt. fail or refuse TO re.
deem >uch note in the lawful money
OF the Uui.cl States. the holder of ,ucl
note or notes. making such demand
may cause the same to be protested to'
non-payment by a notary pablo, under
his Official seal, in la: usual manner
and the treasurer on Tcceivin. and flu .
in his Office such protest, shall forthwith
give notice in writing, 10 the makers %
zach tote OF notes, to pay the same
aud it they shall omit to do s", for ten
tiays after such notice. the treasure
shall Immediately thercupon, (nnlcsS H.
.haN be satisfied that there j. II goo
AVID Icgal defence against the pa, men
al Suc,i note or notes, give notice Tia
all the circulating notes issued hy srr!
n,,ociul.1a will hc redeemed ont Of Tie
,ru,t fu'il, ia his i.aHA- for that purpo-l
which rolicc shah be gwen by publish
ing the same in some ncwspapar pslnt
cl ia the county where the cuisines; {
such association is established, or i
case there is no newspaper printed !
such county, such motto" Shall be pul
li,hcd in some newspaper printed /:
Montpelier; and the treasurer shall Il
required to apply the SAID trust fund
belonging to the mokers Of such pre-
tested note or notes, for the paymcl
pro rata Of all circulating notes. whcli
er protested or not, put in circulation b
.he makers Of tie protested note {
notes, pursuant TO I'll" provisions OF ia
act, and to adopt such measures for I'll
payment Of such notes as will in h
opinion mos, c!irciualy prevent lcss
the holders thereof.
j. The treasurer may give Any a
eociation. 50 transferring stock, in pu
suaacs Of the provisions of this az
powers Of attorney 10 receive ii,.rc
or dividend. thereon. which srcl, AS
citation may receive and apply to the
own use but .uc. power may be t
voked upon such association failing
redeem lhe circulating notes - i-,a"
OF whenever in the opinion of the ~,
surer the principal Of such stock Sd:
become al insufficient security and II
said treasurer, upon application Of Il
owners Of such transferred stock
,ra.,, may, il, hi. discretion, change
transfer he sams for other stock, %! Il
Kinds before specified in bis act, or m.
transfer the sad slotAi OF any IA
thereof, or the mortgages. or any
them hereinafter mentioned ar! r.
yilcd for, upon receiving a"I cong"
ins m equal amount Of such cir-u.Ai.'
note. DELIVERED by Aim 10 .IcA a>.pcs
,lon, in such manaeT liza, Tie ,'tclja'''
notes shall ALWAYS be secured in "a