The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1853-01-11
&5O2,5OI
BANK BILL.

|. BE ii enacicdby Me, Senah and
House Of Representatives. now met and
sitting IN General 4issembiy, and 6y
the authority Of tie same, That the
charter of the Planters and Mrchan-
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 in the year of our Lord
ono thousand eight hundred and fifty:
three. 80 . -: ..:',. ::
II. That said Bank shall, during the
said term of twcntv-one years, be per
'nitted to enjoy a!l the privileges,
rights, powers, inimu,litics and bunc-
fits whicl, it now cli"ys aia.dcr .de cx.
listing charter Of said Bunk, and the
said Bank shall be subject tn. all the
provisions fan Act, passed ON the
eighteenth day of December, in the
year of our Lord one thousand eight
hundred and forty, entitled "An Act to
provide against the suspension of
specie payments by the Banks OF this
State" and also to such regulations
and restrictions as the Legislature
shall frntfi imct to time impose.
i'll. That the capital stock and other
property of the said Planters and Me
cl,anics' Bank, and all the o, her Banks
hereby rrchartcrcd or Incorporated,
SHALL be liable to taxation in the same
manner. rs the capital stock and proper
ty Of individuals and of other corpora
tions- Prosided, That no municipal
corporation .hall tax the capital stock.
sr Bsrefits Of said Banks; without All
rhorny first haL a.d obtained from
the Legislature. -
". That in case of the failure of
said Bank, each stnckholdcr,: copart-
rcrship or body polite, having !, share
or shares in such Bank, at the time of
such failure, or who shall have been in
tcrcstcd thcrein at any time within
twelve months previous to sudi failure,
shall be liable and held bound individ-
uaIly for any sum not exceeding twice
the amount ui his, her or their share
or shares. -. -,
Y. It shalt not be lawful for the
said Bank, except iu settlements with
other Banks, to pay "r deliver <Hst i'll
payment or satisfaction "f any demand
upon it. or by way "f loamor discount.
any bill, note, check or other paper OF
any other Bank. And for each and
every violation Of this section, the
said Bank shall tc subject TO the
payment et enc hundred dollars, to
be recovered by action of debt, at
tho suit OF the State; and appropriated,
one half to the use of the State, and
the other half to the intormcr.
VI. The bills or notes Of the said
Bank shall be receivable by the
trcasurers, 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 nny:.,of their notes in.
gold or silver current coin, or whcnev-
or there shall be protest on any Of
the bills or notes of the said Bank for
non-paymcnt in specie, it shall be the
duty Of the Comptroller General to
trhid the receipt Of the bills or notes
of the said i}auk for taxes and other
public dues. unless satisfactory rcas.
nns be shown by the said Bank for
contesting, in a 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 OK
pire, for the same time and with the
same rights, privileges and nbliga-
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
arc hereby Incorporated, to be named
and known Us follows, to wit: One
in Columbia, to be known as the "I;x-
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
he known as the 'F'arlncrs' and Ijx-
change Bauk OF Giarlcsto.,' with n
capital of one million of dollars: que
at Chester, to be styled the "Bank Of
Chester, South Carolina" with q capi-
tai Of three hundred thousand dollars;
one at Newbcrry, to be styled the
Bank of Ncwhcrry, South Caroli,a."
with a capital Of three hundred thous.
and dollars; one at Winnsboro, to be
styled the "Plantcrs' Bank Of Fair
field" with n capital Of three hundred
thousand dollars; Que at Anderson, to
be styled the "Wcstern Bank ofSou,h
Carolina" with capital of three hun
drcd thousand dollars; one at Sumter
vile, to he stylnd the Bank of Sum
tcrvillc," with capital, Of three hun.
hundred thousand dollars; and one
mt Charleston, to be styled the "Peo.
ple's Bank ofSouth Carolina" with II
capital OF one million dollars; which
said Banks shall have and possess the
same rights and privileges, and be sub