The Lancaster gazette. (Lancaster, Ohio) 1846-1852, 1851-04-17
aIIy lI.1ls !. peIaral psraaa lat al dsbl. and \

Secretary Of Suite hypottpcatp or sell at private '
sale, any or;ie stocks transferred 10 aud depos y
lied with him by such company, tn any other !
banking company on t. any Individual person nr
hrHi, aud receive therefor either money or the cir !
c%ulaliug nOtes Of such luilins coinpnny; Provided,
that M such stock shnll he sDld. at private sale
at less thau the par value therenr. nor at less than
its selling pric at the New York Stock Exchange L
at the date OF the lust received ininrmatiull; nur
Shall any such stock be suld 0n credit. Ii
SIC ~. On receiving notice that any such
banking company shall have Committed nu net utl
insolvency. us herein before defined. the Treas
urer u State, The Secretary NJ Suite. md the An.
.ditOr OF State, or a majority of them, shall appoint
IA special agent. WHO shall Immediately proceed ii
ascertain whether such company has refused To
pay It's mites ia gold and silver coin. when lawful
iy demanded, aud report Ia the said Treasurer
Secretary and Auditor, the facts 81 aSuertnined,
and il. from representation su made. sud Treasur-
er. Secreta Y aud Auditor, or u maj 'rily OF them
shall he satisfied that such company has suspellp
died. the pay meut of it's circulating notes, when
lawfully demanded, ia gold aud silver coin they
shalt forthwith appninta receiver or receivers aud
require Of him or them such bond and surety ass
they slmlI deem proper, who shall proceed e. take
possession of the books. records aud assets oil every
description Of such onmpany: collect All dents
dues and other claims belonging IL such cuinpu
UNV aelllG Win lUt uIllOD wa VI wv 10 Nv " w
appointed by the Stockholders Tor the protection
OF tlieirinterests; compound for all bad and doubt
iul debts; sell all real aud personal property "l
said cUmImny. and to pay aver all monies 81 made
Ia the Auditor Uf State: and the Auditor uf State
shall cause notice 10 lie gwen. 10y advertisement
~ one ~ mere newspapers. |pnhllSbrd W tue Guy
Ul Columbus. AMI ~ one or more newspapers III
general circulation in lhr county where The office
Of such inSuIvert company shall be situated, l"r
six consecutive months. calling on all persons who
may Il we claims against such company 10 make
legal proof thereof. au'l aHer The eId uI one year
iruui The first publication of such notice. the An
ditor, alter inll provision shall have been made az
rede, ming the circulating Iiulrs al such company,
shalt make "a ratible dividen of lhe uinpeys 81
paid over to HIM 10y such receiver Ur receivers
inclusive OF moneys received by HIM ~ sales ul
stock translcl red To aud Deposited with him by
such company. on all such 81 ms US may have
been SO proved; aud from time 10 time. ass tue
proceeds OF the assets ui SAID company slall be
paid over 10 him, aud the said Auditor shall make
further dividends. rs aforesaid, on all caIIns pre-
vluusll proved. aud the reuIhinder, u anything
shall be paid over To the Stockholders nl Tie cum
pany, or their legal representatives. III proportion
To tile stock by them severHIly held; PlOvIded.
luwever. that il any banking COMPANY. against
which proceedings have been Instituted. US pre-
| Fbi ibNh III ANiA0 tNAhf - - -
el acl OF insolvency. stiaIl deuy having committed
such aet, such comp ny may apply To any cou I
al competent jurisdiction 10 erJnlI luIlher pro
ceedlngs iu he premises, and such court, alter
citing ine Treasurer, Secretary and Auditor vi
oidtt, 10 show cause why IhrtlIer proceedings
sluuId not he eujuined. and after lie fndlng Of d
Jury HAT such company has not suspended Tie
pay ment uI its II les, W rn legally presented, III
guld and silver con-. shall mak" an oder, enloIh-
IN. said Treasurer. Anuit0r aud 'ccreldiy I'll Sole.
and any receiver or receivers il pointed ny item
from all further proceedings un account vi Such
surpassed act OI Insolvency.
SEC. 80 II the 0rI9Inh capital STOCK oi any
81 such banking conn ulrs shall III amy nIhinri
he diminished. or any purlIol thereof he with
drawn tor amy purpose Whatever. Wine any delIlS
" demands against such company reIndii unSdlIS
fled. mu dividends SNAIL the edilel be made on Tie
stareS al le Capital stuck III Stirll cpIhpiily' uhlII
the original amount Ul tie Capilai Stock shall he
%reslured, either by continuation I'll tile slIarchoI,
dels. az uur al the profits OF tile business ~ sue
company: aud III Case any dividend shall he nihu'
Willie The capital stock shall ieu,t'hi ST. diminished
f Or Withdrawn, ii shall lie HE duty nl any c"nr
h wing competent jurisdiction. To make ilie leces'
sury orders aud decree Tor closing tie atiaiS ul
sucn colnpaLy. aud dividing lis ELECTS among lis
creditors aud shareholders, as IN THIS act PROVIDE.
SEC. 80 All Irrs Iur protesting the notes Is
sued by any such hunkinE ompaIiJ sh IL be paid
by the rr~uu Procuring the protest " be IA de
aud such Company slm!l be liable t~0eIeiur, but III
pari I'll the socks pledged 10y such company III tie
=. Auditor, shall he applied To The payment III sIcl
r 'ce';nhd all expenses incurred III o"'"u''"S l"'
sale Of ANY such pledged s]tnctS, aud advertise
lhenls thereof, shall be paid oul 1.-THE proceeds q
such sales.
SEc. 10. Tie stockholders collectively fang
bnnNu'S c"inIany, S'dh "'h" u'ne 't """e p"
Sicl company el'her as P''"o'P" "eo'"'H" c"'
lies, ~ BON To un nih"un' S'e"'er WA" wv 1t"
oi Ihe a'l"uat ~ ca!'''a' s'"I" '0tu"'S l"" W ""'
REMAINING "huiI''h'S"c" Wy ,'SNe' '" "no " ~
nor sllhl' III dIre''",S"e ; 3, ""'e" ,"e "i'""'
"l such company, adopted ny It's So'Nn''I'r' "
4 regulate such llhuiiII'eSi ana VI '-4 ne 'he ""'y "
y the Aniil"r' Treasurer ami "etrel''l "' ot"r,"
! n m")hnS "l 'hem, n"en "S once III epe" year
q "hPl"lht snu'e s''''o'e Pe'"'" ~ '"' '"""S :,
chth nh''Nll'5 COMPANY, "n'H''' wv oe "S'"I"
" n"'der III any oHlH VI '''S 9''"' WIN sun" ""''
power I" nuke u thorough t%hn''"ill"n mt" a.
II the iillnirs ol the billk "hlc'l tie may De app" II
ted I" examine anu III 81 d"inS' !" examine an
ul Tue officers aud agents "I 'uc'i bnhN' on "Hll
q aud such agent sIlaI' make Il detailed report "i'h'
%c"hdIlnn " SucIl hhhK 10 lhe Au''"r"i - me- aus
\ Tue banking c'inlihleS herei' d"th'rl<ed Shal, n'
: subject Ia any "'ler N'S'l'r1a' powers uu''r NE
J.. ny Jaw ana eV ry agent up o'",e"'"s ~ '"'S sec
o non Provided, SHAT, receive '"' nus services al "'
rae OF wv" uo''ar' 'r eaVh u'y ~ ~" e,nP"9e
# III such examination ana TWO u"'nS nr ever.
4 twenty llNe miles he sllall necessarily uaNe' !.
II lie performance o. his "uly' W0'ch silal' De pau
ny Tue banking company ny h'm eA"''''eu
4 Sgc. IL, Whenever any banking COMPANY
/. being desirnus In dim,uiSh the amount Ut It's CIR
cnlaIing mites, shall deliver tn the Auditor ol Stat