New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1852-05-31

IL Auditor take any such stock nj RAJ ils par
nor market value BY secrion = such B4uS .ftsr syn
ing ana executing such blank notes TO make them
obligatory promissory payable on dem nd AZ its
place of Business In the stse) Is horizei 10 loan
and circulate the same as money iingto the usual
rules OF banking. Sect n S,a pres r S,s ne man.
ner of protesting notes Of such bank sna all 10 re-
de- n It's notes in United STATES money shen lem ndsi
during business hours; end authorizes the Auditor in
such to redeem all notes OF Sid osnk out OF stocks
held In trust by him Section yth authorizes toe Auditor %
give such banks powers attorney receivrintercs
dividends stock Transferred 70 him In trust 70 be
p to their use-reyoking such powers Shentheir
notes sre filed to be redeemed. or wacn the prtncph
Of such stocks becomes sn insufficient security. by
section 10 sll such bank notes must bear on their lace
" Secured by the pledge OF public stocks Secnon u
gives further remedy failure 20 redeem noses on DO
rsId Section la exampis the State from liability u pay
any such hank bills the proper application Of 80
cur tiles pledged win the Auditor for their redemption
II also limits the bank to certsn place for carrying on
It's busness-where its bills are msd- payable section
II allows the Auditor 10 draw the treasury for the
expense printing the blank and 70 charge and re-
ceive from the banks receiving such notes amount sn
cient TO reimburse their aasury the aountto be
reasonable Section - provides for destroying plates
&C. OF broken banks By section Il any unbsr OF
persons may associate 10 establish bank under ,ns pro-
visions this act but the aggregate of their capital
stock shall not be less tasn $1,000; and section -
gives them the power to ncre their capital and the
number Of their associates from time to time Section
IL requires certificate 10 behed by such bank dssgna'
ting its name &c Section 20 embraces the various pow
q RECEIVING hoppo"', V"t
ing and selling gold &C. ofoanlng money personase-
curly arate not over T. cent per annum (whichthey
may discount and take in advance out Of the lolued
The shares deemed personal property and are
Transferable &c Every shareholder by section 25th
shs be liable in his individual capacity for any contract
Of such bank. to amount and above his stock
equal the amount OF mis- shares Of such stock Sec
ton % authorizes such bank IN hold purchase and con-
vey real for its in transacsing business
such as shall be morgsgea ii in security for moneys
due il or conveyed to i, Ia satisfaction Of debts pre-
viousy cont acted In the o. it, dealings or such
as shall purchase az sales under judgments, DEGREES
or mortgages held by such bank. Section q pro-
vidss for a sem-snnua newspaper publication OF
full statement of the affairs OF the association,
der oath OF the President and CASHIER each item Of
which is specified in the section mentioned Section %
defines the penalty for violation OF the preceding sec
ton By Section 80, let OF the shareholders OF such
bank shall be filed in the clerks office of the cOuoty in
which the bank is situated, and also in the State Aud
itor's tiice, semiannuay. By Section 81, no bill Of
less denomination than 500 shall be made payable else
where than 81 the banks usual place OF business Sec
ton % provides for 1919 per cent in specie 10 be kept
on hand the OF the bills in circulation. Soc
ten 81 makes the act in force from and after lst vi July
next
lamentations Of tbe Port of New-York