The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1855-04-03

State Of Indiana. "
SEcr1orl. BE it enacted by the General
Assembly of the State Of Indiana, That the act
entitled "An act to authorize and regulate
the business of General Banking" approved
Nav 2Sth, 1862, which act 10 comprised in
the following words, to-wit:
mess of General Banking, approved May
2Sih, 1852.
SECTION 1. BE it enacted by the Genera!
Assembly ofthe STATE of Indiana That it is
hereby the duty of the Auditor of State, on
application of any person or association OF
persons, wishing to organise under this act,
to cause to be engraved and printed in the
best manner, to guard against counterfeiting
such quantity [quality] of circulating notes,
in the similitude of bank notes, in blank, of
the different denominations hereinafter. au.
thorised under this as may from time to
time be needed, to, meet the demands OF
those organisations for the purpose Of bank
ing.
SEC. 2 Nothing herein contained shall be
so construed as to prevent any banker or
banking association, from procuring their
own plates, dies and other material for en-
craving and printing blank notes and fur
nishing them 10 the Auditor, and leaving
them ever after in his custody and control,
to be used and disposed of as though such
Auditor had himself procured them un.
der the preceding section.
SEC. 8. Such bank notes in blank, so pro-
cured or placed in the hands of the Auditor
as aforesaid, shall be of the denominations
usually issued by banks-from lone dollar
to FIVE hundred dollars; but such notes shall
not be of any intermediate number between
five and ten dollcrs, ten and twenty, twenty
FIVE and fifty, or fifty and one hundred dol.
lars: PROVIDED, koiceuer, no bank, under this
act, shall be authorised to receive or pay
out any note or bill of less denomination
than five dollars, issued by any bank or
other corporation out Of this State; nor
shall any such bank be authorised to issue
bills for circulation OF less denomination
than five dollars, to any amount exceeding
one fourth of their whole issue.
SEC. 4. Such blank circulating notes shall
be countersigned by such Auditor, and num-
bered and registered in proper books. to be
kept for that purpose in his office and under
his direction, by such persons as the A uditor
shall appoint, so that each denomination of
such circulating notes shall be Of the same
similitude, and all bear the uniform sigma
ture of such Auditor and Register.
! SEC. B. Whenever any person or associa-
ton ofpersons, formed for the purpose of
banking under this act, ehall legally trans
fer to the Auditor any portion of the stock or
J bends hereinafter specified, such person or
: association of persons, shall be entitled to
receive from the Auditor an equal amount
OF such circulating notes, of different de-.
nominations, registered and countersigned
as aforesaid, to be issued by them in the
usual course of banking business as money.
SEC. 6, Such stocks shall consist of any
portion of the public debt now created, or
hereinafter (hereafter] to be created, by the
/. U. States or by this State. and chargable
upon the State Treasury, or by such other
States oil the Union as pay interest seminar.
ually. or at any less period on their public
: debt; but such public debt sha II in all cases,
o except as to Indiana stocks, be, or be made
# to be, equal to stock producing six per
cent. per annun, and the public debt of this
State, SO deposited, shall [be,l or be made
to be, equal to stock producing five per
n cent. per annum; and it shall not be lawful
# for the Auditor to take any stock at a rate
!. above its par value, nor above its marke,
value: Provided, that whenever any State
whose stock is pledged, in whole or in part
for the redemption of its circulation, shall
n fail or neglect to pay interest on such bonds
). or stocks semi-annually, or at any less peri.
8 cd, then such association or person shall be
y required to withdraw the said stocks so fail
ing to pay interest, and to substitute for the
Il same the stocks of interest paying States ,oI
q else surrender an amount of its notes eQua
to the amount of stocks so withdrawn. And
il such person or association shall neglect OF
refuse, for the space of thirty days, so TO DC
o then, and in that case, it shall be the duty o
!. the Auditor of State to wind up the bank o.
said person or association, as provided else.
2. where in this act.
SEC. Such persons or association o
t persons, are hereby authorized, after having
v executed and signed such circulating notes
= in the manner required by law, to make then
obligatory promissory notes, payably on de-
= mand at the place of business within thi
IS State, of such person or association, to LOAF
e and circulate the same as money, accordin!
to the ordinary course of banking business
as regulated by the laws and usages of th
" State.
Sec. 8 In case the maker or makers o
i any such circulating notes countersigne,
: and registered as aforesaid, shall at any tim,
s hereafter, on lawful demand. at the place o
business specified in such note, during tn,
usual hours Of business, fail or refuse 10 re
deem, in the lawful money of the Unite,
Il States, the holder Of such notes, maxim.
e such demand, may cause the same to be pro
II tested for non-payment. by notary publ,
:, in the usual manner; and the Auditor. on re
u ceiving and filing in his Office such protest
o shall forthwith give written notice to tn,
: maker or makers of such note to pay tn,
e same; and he or they shall omit to do sc
;. for thirty days after such notice, the Audi
tor shall Immediately, (unless he shall b.
! satisfied that there is good and legal de-