The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1851-12-06


OF ihe circulating bills m notes, may be made
on eKetuted 10 the treasurer,
Sec. So Az fees for protesting the eireu-
latlng notes issued by any banking assoeia-
lion. shah be paid By tho person procuring
the services ~ be performkh for which such
association shall be Liable. bat no part Of the
securities deposited by such association shalt
be applied 70 tho payment Of such foes.
SEQ. B3.-l IL ahnll hr the DEFY Of tho bank
rommiasioner at least once year, aud ollon-
er ii'he shall deem Il necessary, 10 inspect
every bank established under the provisions
Of THIS act and rcport 10 the stata asdiioF ft
ist' The amount Of the certified Ftork Of the
gapiial stork of the banking association. maid
ia or invested according 10 law, OF in pursu-
ance OF ~ articles Of association, and the a,
mount ol such stock as then possessed; 2d
Tho value OF the real estate ofthe AssnriAfion,
Aea specifying aslsst portion l. eannpisA hy
tbf ffoJ'iaiion, Tor tho Transaction Of business
3d. The shares Of stont held BY such associa.
ton whether absolutely or as collateral tc-
ruriy, specifying each Kind and description
OF stock and the number and value of the
'hAraa ei zach 4th. The debts owing TO the
association specifying such ~ arc due from
moneycd or othercorpOratinns.o .or associations,
soe tAs amount secured hy bond aud mort
gaFr, the amount which ought to Do included
10 the computation Of losses, aud the total n
mount 0f debts then colcciAble 5th The
amount of debts owing by the Ass0riaiion
specifying such as are payable on demand
aud such as are dine 70 monoycd aud other
corporations, associations, or individual bank
era and the amount die 10 each 9Th The
amount Of claims against the association, not
acknowledged by IL as debts; 7Ch. The
amount for which the association is bNnud ns
surety, or for which IL m1y becopc Liable on
flff la ff a.
The amount of notes or bills then Ia crcula-
tion OF said association of loans aud discounts,
aud specie on hand 9Th. The amount Of loss
~ of tho ASSOCIATION or any,) charged. spcri.
tying whether charged on its capital or profits,
since the last preceding statement aud OF the
dividends declared and made during the same
period 10Th. The amount Of real estate mort
cages, and Of sto1ks, togrtlier with q desrrip.
ton OF such stocks deposited by carh assoria-
tlon with the treasurer rs security tor the cir
culating notes issued the market value of
said stoaks, n near a, the same can be- asccf-
tSincd, aud the date.to which payment OF ia
tcrest has been made upon such real estate,
mortgage aud stoehs. and whether siid in
J terest has been pad 90 tnch banking n4sp,ja-
uon or passed to their credit on the booa I, ui
the TREASURER.
Sec. 81 la case ANY Of the said assacia-
tons shall refuse Ia submit is BOOKS, papers
aud concerns to the inspection or said COM
misioncr, or whosu officers shaft Tgfusg 70
submit TO bo examined on orth, touching the
concerns Of such association, by sad CdIHHis=
'ionor, or which shall be- found to have vioat-
cd any law OF tins state, binding upon such
ASSOCIATION, such association shall be- liable To
bc proceeded against by said commissioner in
the SAINT manner and with like effect as any
Incorporated bank may be proceeded against
ftor u violation OF ~ CbaftCf.
Sec, 50. The sharcholdcN, ~ majority
Of them in Rmount, who shall be owners of Anv
incorporated baRk continuing the business OF
banking until ihu expiration of their charter,
and who shall haYo'a3soglaicd themselves for
tue purpose OF banking under the provisions
Of this act, shall be entitled 10 receive irou,
the treasurer, who IS hereby authorized 10 is
sus 10 the association, So formed, circulating
noies,iu amounts OF net less than ten JhdUsdHi
dollars, upon che deposit OF securities Of the
kind before described, aud required by the
provisions of this act, 10 an amount equal 20
the circulating notes 50 issued But II such
trut tr,- l.4F.al Elg.ll unt haAc
deposited with the treasurer, during the three
a'vars next following the date ortheir articles
OF association, an amount equal tofhat rcquir-
cd by the provisions Of this act rs security for
circulating notes, previous to commencing
the business Of banking, the treasurer is here
10y empowered TO retain the interest accruing
uion securities SO depo.ited unul sucb assn,
cintion has complied with The pro,;sions of
This act i'm relation 10 the amount of security 10
bo deposited with the treasurer.
Sec. s6.l Ic,he sharphoIdcrs or a majority
of them !. amount. orany incorpornted Jant
within one wear of the expfTz1rtuin ;,- .I,,..
ter. shall file with tho pr,.sident thereof n no.
tice IN writing that they intend TO avail them
ntr Gor the nnrnose of b,nLinr !, sboll h.
lawful for the directors of s,iI bonk 10 pnr.
+ ehnsc and hold such stock and other s,,ur;.
ties ne the treasurer is or .,nnv h,, nnthor;znd
10 ,,ar.ive for circuIatino notes under ,bc nro,
,c ,L;s s,., D., s,,'!I .n,,,,,,. as H.,
I,nIi dsn,, ,h,. ,h, ;ntrr,,s, or,hc shsroho,d"!
,l,,,,.,or
;.,,. t.o
oy'. o. an "so1' 1''h''o'I ' nero",'el |rmSu
70 t''N VI nu i'''o' 'la''u nahki
WnoSo en"'.y' "'s SN NP'e,, OF - Hoo"' 10 eS-
P're, may, Wy" az WY ' shH' euo,',e's OF such
incorpora'es'' esoS ha'e a'sen,SI 'ol's organ
lznuoh' 'uhueT 'uls ACT hhe anu houi IN addi-