The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1853-01-11

| |. Re II enacked By Rhe, Se..ase and
Ilo"Se Of Representatives. no,v met and
sitting IN General assembly, and by
the authority Of tie same, That the
charter of the Planters and Mrclmn-
les Bank Of South Carolina bt and the
same is hereby renewed for the. term
OF twenty one years from and after
the first day Of January next, which
will be III the year of our. lord
one thousand eight hundred and fifty:
three: x \ 10 .,,.'a 80 =.
| II. That said Bank shall, during the
said term Of twcntv-onc years, be per.
lni'ted to enjoy all the privileges,
rights, powers, iuimunities and bcnc-
fits whict, it nov eiJays saasder the ex.
listing charter of said Bank, and: the
said Bank shall be subject tn, all the
provisions ofan Act, passed ON the
eighteenth day of December, in the
year "f our Lord one thousand eight
hundred and forty, entitled IAN Act to
provide against the suspension OF
specie payments by the Banks OF this
State" and also to seiehs rcgl,latis.ns
and restrictions as the Legislature
shall fr1H1fi Imcto time impose.
iii. That the capital stock and other
property Of the said Planters and Me
chanics' Bank, and all the other Banks
hereby rrchartcrcd or Incorporated,
shall be liable to taxation in the same
manner: ms the capital stock and proper
ty " individuals and Of other corpora
tionS. Prosided, That no. municipal
corporation .hall tax the capital. stock.
s~ sslefits Of said Banks; without au-
thorfy first dad a.,d obtained from
the Legislature. ''',
". That in case of tile failure of
said Bank. each Stockholders. copart-
rcrship or body polite. having IL share
or shares in such Bank, at the time OF
such failure, or who shall have been in.
tcrestcd tacrcin at any time within
twelve months previous to sucti failure,
shall be liable and held bound individ-
ually for any sum not exceeding twice
the amount d' his, her or their share
or shares. ~. ~
Y. 1t shalt not be lawful for the
said Bank, except ia settlements with
other Banks, to pay "r deliver <at iii
pay ment or satisfaction Of any demand
upon it, or by way of loanor discount,
any bill, note, check or other paper of
any other Bank And for each and
every violation oi this section, the
said Bank shall tc Subject to. the
payment ct enc hundred dollars, to
be recovered by action of debt, Mt
tho suit Of the State, and appropriated,
one half to the l,sc of the State, and
the other half to the intormcr.
VI. The bills or notes of the said
Bank shall be receivable by the
trcasnrcrs, tax collectors, and other
public officers, in payment for taxes
and other moneys due to the State, no
longer than while the said Bank shall
promptly pay, on demand, gold and
silver current coin for their notes; but
whenever the said bank shall refuse or
delay to- pay anys.,of their notes in
gold or silver current coin, or whcnev-
or there shall be ~ protest OH any Of
the bills or notcs'of the said Bank t;r
non-pay ymcnt in specie, it shall he the
duty of the Comptroller General to
forbid the receipt of the bills or notes
of the said issuk for taxes and other
public dues. unless satisfactory rcas-
ons be shown by the said Bank for
contesting, in Court of Justice, the
payment Of such protested bills or
notes.
VII. That the charters Of the Union
Bank Of South Carolina, and the Com
mercial Bank Of Columbia, South Car
olina, be also renewed, from the period
ut which their charters respectively cx-
pire, for the same time and with the
same rights, privileges and obliga-
tions, and subject to the same rcgula-
tinns and restrictions, as herein be-
fore provided, in relation to the said
Planters and Mechanics Bank.
VIII. That the following eight Banks
are hereby Incorporated, to be named
and known as follows, to wit: Ono
in Columbia, to be known as the "Ex-
change Bank of Columbia, with capi-
tai of five hundred thousand dollars.
and with the privilege of increasing it
to one million; one at Charleston, to
he known as the Farmers and Ex-
change Ba,Ik OF Giaricston,n with n
capital of one million OF dollars: que
Mt Chester, to be styled the "Bank Of
Chester, South Carolina" with CAPT
tai ofthree hundred thousand dollars;
one at Newbcrry, to be styled the
Bank Of Ncwhcrry, South Caroliua."
with q capital Of three hundred thous.
and dollars; one at Winnsboro,' to be
styled the "Plantcrs' Bank Of Fair
field" with q capital Of three hundred
thousand dollars; one at Anderson, to
be styled the "W Wcstern Bank ofSouth
Carolina" with capital Of three hun
drcd thousand dollars; one at Sumter
vile, to be styled the Bank of Sum
tcrvillc," with a capital, Of three hun.
hundred thousand dollars; and one
at Charleston, TO be styled the "Peo.
pies Bank ofSouth Carolina with ~
capital OF one million dollars; which
said Banks shall have and possess the
Same riohts and Drivijeuas and no sub