The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1853-01-11
BANK BIaEL. n
PASSED. BY OUR LAST, LEaIsLATrnE
Commonly CALLED THE OMSlBUs BANk

55Ss 1. iie sfeaacfeds6g saatI itSesid teis aud
House Of Representative. no,o met and
siding IN General assembly, and by
the authority Of he same, That the
charter of the Planters and Mechan-
les Bank Of South Carolina bt and the.
same is hereby renewed for the, term,
of twenty one years from and after
the first daysof5 january next. which
will be7:in 1.-The year, of sours Lord.
one thnhsInd eight hundred and .iiftN:,
II. That said Bank shall, during the
said term Of twenty-one years, be per.
lnitted to enjoy all the lprisilcges;2
rights, powers, i,nmunities and bcie-
fits which it now c,gpy sa1asder .stse exs
listing charter Of snid Bunk, and.,siie
said Bank shallybc subject III; all the
provisions ofan .Act; passed on the
eighteenth day Of December, in tho
year Nf our Lord one thousand eight
handred and forty, entitled .sAn Act to
provide against the suspension of
specie payments by the Banks of this
State, andEa1so 3tiisi Iisaehs regulations
and restrictions as thc Legislature
shall@frn1if fne:to time Impose. s. +.
III. That the capital stock and other
property Of the said Planters and Me-
chaiiics Bank, md, all;the Other! Banks
hereby: rschartercd or Incorporated,
shall be liableto taxation in:thc same
manner MS the capital stock and proper.
ty I inditiduals and of other corpora
tions. Provided, That no municipal
.hai tax the capital stock
asr profits Of said Banks; without nu-
therft. first dad a.,d obtained from.
the Legislature. Il. S, -. '.f +. I, q
w. That in case of; the failure of,
said Bank, each ,stockholdcr,. !. copart-:
ncrship or body polite, having share
or shares in such Bank, Mt the time of
such failure, or who shall: have been in
tcrested therein. ataEaIy time within
twelve months previous to such failure,
shall be liable and held bound individ-
iually for any sum not exceeding twice
the amount OF liis, her or their share.
or shares. rs ,'-1. .tt,s.si
v. 1t shalt inniyttaibc lawful for the.
said Bank, except in settlements with
other Banks, topay nr deliver ssstSIiti
payment or satisfaction nf any demand
upon it, or BY way of lonnyor discount,
any bill, note, check or other paper Of
any other Bank. And for each, mid
every violation OF this section, the.
said Bank shall NbcSEsubjccf TO- the
payncnt OF enc hundred dsilars,Rto
be recovered by action of debt, ttati
tho suit of the State, nd'appropriatcd,
one half.to the l,se}of the State, and
the other half to the informcr. y 80
vi. Tho bills or notes of the said
Bank shall be receivable by the
trcasurcrs, tax collectors, and ii other!
public officers, in payment for, taxes;
and otter moneys due to the State; n1
longer than while &c said Bank shall
promptly pay,f on demand, goldand
silver current coin for their notes; but.
whenever the said bank shall refuse or
delay to pay aMysaef their notes: in,
gold ior silver current coin, or whcney-
;er there shall be . protest on any Of
the bills or notes of the said Bank. for
.non-paymcht ia, specie, it shall be the
duty of the Comptroller: Gci,eral to
forbid the receipt ofthe bills or notes
of the said isauk for taxes and other
public dues. unless satisfactory rcas-
ons be shown by the said Bunk for
contesting, in a Court Of Justice, the,
payment Of such ptotestcd.~b or
notes. ~ 9;.t .''H.t g 1sa
VII That the charters Of the Union
Bank of South Carolina, and the Com
mercial Bank Of Columbia, Soutt, Car
olina, be also renewed, from the period
at which their charters respectively cx..
pire, fortho same time and with the
same rights, privileges and obliga-
tions, and subject to the same rcgula-
,tions 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 Us follows, to wit: Ono
in Columbia, to be known as tile "Ex-
change Bank Of Columbia, with capi-.
tai of five hundred thousand dollars,
and with the privilege of increasing it
to one million; one ut Charleston, to
be known rs the Farmers and Elk.
change Bauk Of Giarlestoiyp with n
capital of one million of dollars: Que
Mt Chester, to be styled the "Bank of
Chester, South Carolina" with capi-
tai of three hundred thousand dollars;
one at Newberry, to be styled the
Bank Of Nowhcrry, South Carolina"
with q capital Of three hundred thous.
and dollars; one at Winnsboro,' to be
styled the planters Bank Of Fair
field" with n capital Of three hundred
thousand dollars; one at Anderson, to
be styled the "W cstern Bank ofSouth
Carolina, with capital of three hum
drcd thousand dollars; one at Sumter.
vile, to be styled the .Bal,k'of' Sum
tcrvillc,n' with a capital, of three hun.
hundred thousand :aollars;i and one
at Charleston, to be styled the "Peo.
ple's Bank of South Carolina" with II
capital Of one million dollars; which
said Banks shalt have and possess the.
same rights and privileges, and be sub.