The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1855-04-19

scri5eJ, said, books may be kept open between
the same hours each day, for the space OF thirty
days. Ii more than the requisite amount OF stock
shall be subscl ibed while the books are open for
any branch, the excess shall be taken FIRST from
such as reside out of the State, bext from cor
porations, and should there still be an excess the
same shall be taken in proportion from lhc sub
scrpliors over one thousand dollars, until all are
reduced 10 that amount and then from all equal
/ ly
Sec. so. Ifa sufficient amount of stock shall
be subscribed BY responsible persons at any
| branch, it shall be the duty of the sub commits
sioners 10 notify the commissioners thereof, who
shall give notice TO The subscribers OF the time
when the first payment on their stock shall be
made, when notice shall be by publiction IN one
or more newspapers published in The proper bank
district sixty days before such payment is 10 be
made; and they shall also give notice in like
manner, that an election will be held on the day
succeeding that ap cinted for the payment of
such insaiment. between The hours of 10 A. NJ
and P. N. at some specified place at the point
where such branch is to be located for The cleo
ton of five directors part of the stockholders
OF such branch. AT such time and place, the
stockholders present snal appoint two suitable
persons, who not stockholders, act as
Judge and 10 act as clerk who shall, after being
duly sworn faithfully To- perform their duties. re-
ceive the ballo for directors, and certify that
those receiving a majority of the votes cast were
duly elected, and The directors so elected shall
constitute the board of directors of such branch
for the purposes Of its organization and until the
board of directors of the bank OF line State of In
diana, shall he organizcd and appoint directors
OF the part of said board, and the directors SO
appointed, shall then be added 10 such branch
board.
Sc. ST. Such first instalment shall be two dol.
Nm pf subscribed
he paid t. sub-cormissioDers by whom the books
were opened and who shall attend for that pur-
pose and in case CT The failure of any subscriber
to pay such first instament, the sub-comnrssion-
er shall strike his name from the books, and i'm
! mediaely reopen said books 10 receive subscrip-
tons to make up the deficiency from any persons
who will pay such insaiment As soon a
branch is organized, said snb-commissionefss shall
pay over thereto all the money received from such
subscriptions, and all books and papers apper-
tanning thereto, which, with the returns of the
election tor directors, and the certificates thereof.
shall be entered or copied into the record books
containing the proceedings of the board of direc
tors. which entries shall be grima facic evidence
ofihe fact therein stated. Ii any Sub commits
sioner shall from any cause, fail to perform any
OF the duties required of him the same may be
performed by any Other person appointed by the
commissioners 10 supply his place. The residue
of said stock shall be paid in such instalments as
lreQuire, but such instruments shall I've so gradua
ted that not less than one hundred thousand dol
lars shall be required TO be paid into ea branch,
en- or before the first dav of January, 1857.
SEC. 81 The board of directors Of each branch
shall meet soon as conveniently may be after
their election and after being duly sworn to sup
port the constitution and laws Of the State of In
diana, aud faithfully and honestly TO perform
the duties OF their Office shall proceed to elect
he rS a. branch nd ~
of their number as member of the board Of di-
rectors of the bank of the State OF Indiana and
when not less than ten branches have thus organ
IZed, the members elected to the hoard of direc.
ors QSlhe bank shall meet al the city of Indian
apolXAt such time as shall be agreed upon, and
orgaGze said board. If any members of said
lboartfllave then been elected by the Legislature,
: they shall be added thereto and whenever from
time TO time, members of said board shall be
leleced by the Legislature. or by branches that
may b. subsequently organized, such mem
beers shall be admitted to their seat at said board.
SEC. 50. When not less than ten members of
the board of directors of the bank OF the State
Indiana, shall meet aforesaid, and shall have
, been duly sworn TO support The constitution and
laws of the United States, and of The State of In
diana faithfully and honestly to perform the duties
of their office the commissioners shall deliver 10
them all The books, papers and property in their
{ possession, appertaining to said bank together
with full report of all their proceedings in the
premises which report shall be ente red on the
record of said board, and when so entered, such
record shall be prima facie evidence of the con.
tents thereof said board shall ihSn proceed 10
elect their proper officers and when thus organ
lied, said board shall cause written statement
of all the proceedings in The organization of said
2 bank and each branch, to be made and filed in
The office of Secretary of State, which statements
shall I've accompanied by the afidavits of the
I President and Cashier, that to the best Ct their
e knowledge and belief laid statement is correct.
and that said bank and branches have been Or
ganized in good faith and with the intent to carry
on, the objects Of its charter fairly and hOnestlyj
, and lhereupon said bank shall be duly organized
0 for all the purposes contemplated by this Act,
except it shall issue no bills or notes intended to
circulate as currency, until after the first day of
: January 1857, and no such bills or notes shall
then be issued to any branch unlil at least fifty
/ thousand collars shall have been paid into such
Branch upon the subscriptions for its stock.
g SEC 81 The Board of Directors Of the bank of
the State CT Indiana, is authorized TO increase the
capital stock of aCv of the branches. by empow-
y ering them to receive additional subscriptions
e thereto. TO such an amount as can be pr ftablv
? mployed but The aggregate capital of the bank
and all its branches shall not exceed six millions
2 of dollars
SEC. s.. Sht uld any subscriber for stock in
, any of the branches fail TO make payment OF the
UfSi OF dny Subsequent parry
ing shall forfeit The first instampn TO be recover.
ed by said bank in an action at law, and in case
: of the failure pay any subsequent instalment,
the board of directors of the proper branch may
sell and transfer any such share or shares OF STOCK
at public auction, after ten days notice IN writing
1 put up al the door OF such branch bank, or so
much thereof as n ay be necessary 10 pay all the
dues of the failing party, and if The same cannot
be sold for sufficient to paw all the insta lments
E due, the same shall be forfeited and become the
property of the proper branch, and whenever any
: s;ockhoder shall be indebted 10 any branch, and
such branch shall hold lien upon his stock to
q secure such indebtedness, if by reason of insol-
vency or other cause. he shall he unable to pay