The daily union., 1852-11-28


veness in their profession. They open Monday in the
characters of Margaret Emoe and Herminie, in the play
of Loves Sacrifice. and we do not doubt tha, highly
favorable reception will be accorded TO their YOUTH TALENT
and beauty.
BY request we transfer the following article from the
hluigeneer:
FREE BANKING IN THE DISTRICT OF COLUMBIA There
introduced into the Senate few days before the
Fish, of New York. bill "o authorize the business OF
banking in the District OF Columbia, and TO regulate the
issuing and circulation OF notes as money" This bill
being necessarily OF great length and being printed only
in sufficient number for Congress, will not be accessible
TO our citizens generally who have deep interest in the
proposed change in banking laws and as the sub
ec will doubt again be brought before The Senate, we
have thought that summary OF the provisions OF the
bill would not prove unacceptable to our readers Its
leading features are as follow:
Section declares that 1t shall not be lawful for any
perso circulate bills notes not permitted by this
Section prohibits banks operating under this act from
procuring circulating issued beyond this Dis
rc except such notes may be received by them here
| and paid out in the ordinary course OF business
Section iorbds the paying out hy the District banks
of money which they will receive par for debts due
provides that any bank violating the preceding
sections shall Tor each offence forfeit five hundred dollars
of suit for the normer and every officer
agent knowingly assisting therein shall be fined exceed
ing five hundred dollars and imprisoned not exceeding six
months.
Section authorizes the register of the city Of Washing
many may be needed; these be
| signed, numbered, and registered by him
State of the corporation OF Washington Georgetown,
equal United States five per cents, be deposited
with the register in equal the of the
| received from him
Section requires these be obligatory promisso
as money.
Section in Of the issuers failure redeem such
empowers the holder them be protested
h NO, aa wn M
thpm nj af in
section provides that the depositors OF stock pledged
above the interest accruiDg upon but
this may be withheld upon their ailiHg redeem their
| notes When the stock becomes impaired In value, or
upon the alienation OF portion of IT, corresponding
amount OF the notes may DO called In and cancelled by the
| register
Section 10 declares that The shall have printed
their face, Secured by the pledge OF public stocks
larger OF notes than there is OF stock pledged to
| secure them.
Section II permits any persons to associate establish
Offices discount aud depose and circulation under this
but the aggregate Of stock deposited must not be less
Section IL requires such persons certify tho register
the name OF ther conten plated bank It's location, amount
stock number oil shares names and places OF residence
OF the Shareholders and the periods at which nch associa
] tion will commence and terminate.
Section l3 coners associations general banking pow
ers enumerated, and empowers them TO select and
| change their Officers and. agents ut pleasure
Section IA declares that the shares shall be deemed
property and that The reholders shall
the relations 81 stained by their predecessors
10 designaes lne officers competent make
| tracts ia the name Of the association.
|
dollars stocks, aud individual bankers twenty
five thousand dollars before receiving their for
| laiion,
| a banking association
Section is declares that between an association and one
OF as shareholders legal proceedings be ins
tuted and carried on.
claim him by the association by anything connected
with his share or interest therein.
Section 20 declares that association individual
wishing relnquish banking and having redeemed nine
~ per cent Of its OF bis ceuaon may upon deposltng
N % b..
tie whole ofthe pledged stock
weekly for Two years calling for all andng notes. when
bond must be given io the payment Of such notes pre-,
sened hin six years thereafter Upon giving this bond
all other securities may be Withdrawn.
Section "a banking association may hold real estate
only necessary uses by mortgage loan. by
deed in satisfaction OF debts, and by purchase saes TO
suisfy it, own claims
Section % The circuit court Of the District Of Columbia
may upon the application OF creditors shareholders in
teested The amount Of 81 ooo order mat int
the affairs of any association the result be published
aud injunction or oher process Issued deemed requi
site.
Section "a For non psymeu Of enY aois when present
ed, damages the ratio o fourteen per cent per annum
ssoon Ss The president and cashier Of each associa
ton shall preserve list OF the shareholders
/ Section 26, Notes must be payable on demand, and
Section "a Mulated bc returned to the register
and substituted.
2s The register TO Ia the dividends on secur
ties in his hands Whenever the principal is deemed made
| Section 20 relates to the expenses Of protests.
Sections 30 and 81 require sworn quarterly reports rom
all associations OF the business,
| profits, losses, assets, &c.
Section 80 requires the publication of said reports and
i'm penalties for false statements, omissions, Sc
Section 49, The ions Of such reports be furnished by
the register,
Section "a relates 10 the OF imposing on
banks and bankers.
Section sJ Other Incorporated institutions may hold
receive, and transfer the shares oil these banks other
property.
Section So All individuals or assoc ations acting by
trustees Otherwise who have heretofore issued notes
prohibited by this required TO destroy all such
notes the first Monday in January 1854 and
destroy ell others fast they returned them,
der certain prescribed scrutiny and penalties.
Section 81 The register Of the city Of Washington shall
be provided by the corporation thereof with the of
carrying this into effects shall be compensated by the
corporation shall be under the supervision o committee
three-one b. appointed by the Secretary Of the nte
ior one by the mayor OF Washington and by the
mayor of Georgetown.
Section 80 An the expenses incurred to be assessed
upon the banks AID bankers Ia ar equitable manner as
specified.
Section 80 The stocks In the custody OF the register sha
be held exclusively for the redemption OF the bills the
plates dies &c., remain in his charge; the
of any Of them other be punished felony.
Section 40 The register may appoint deputy; the
Common Council is to fix tue amount OF the registers bond
TONES OF Authors, Illustrated with OF
III residences volume beautifully bound.
Chdrenof gha Theme for tbs Time Caroline CHEESE
bro,
pernl Romean Introduction Roman bistory w.
Ne q University College,
appointed autho
77J 1852 by James Spear Loing For sale by
Nov FRANCK TAYLOR.
IyOR tsEsT, OF the in Jackson Hail. ~ fec
Nov a7Zst JOHN O. mvEs.
a. Aprt