The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1855-04-18
An ACT.
To establish q Bank Nth Branches.

.hall be. and there il hereby, established q
Bank. with 30 many Branches as shall be
organized under this charter, to be known
and STYLED "The Bank Of the State OF Indi-
.na.n which shall continue as such for the
term and period of twenty years from the
date of it's organization, and for such longer
period thereafter as shall be necessary
promptly to close its business, as hereinafter
provided.
SEC. 9. That Thomas L. Smith, Andrew
L. Osborn, John T. Elliott, Addison L.
Roache, and John D. Defrees, are hereby ap-
pointed Commissioners, who, before entering
upon their duties, shall take an oath dligent-
ly, faithfully and impartially to perform the
duties assigned them by this Act. They |
shall keep true record of all their proceed /
ings, which, together with all the books and
papers pertaining thereto, they shall deliver
to the Board of Directors of said Bank when
the same is organized.
SEC. 8. Said Commissioners shall meet,
at the city of Indianapolis, within ninety
days after the passage Of this Act, and il any
of their number shall refuse to serve, shall
die or resign, they shall fill such vacancy or
vacancies by the appointment of some suit
able persons thereto; and they. or a majority
of them, are authorized, and it shsll be their
duty to divide the State into not less than
fifteen, nor more than twenty, bank districts,
and to locate one Branch Of said Bank in
each of said districts, at such place as they
shall designate, selecting, where it can De
done, other things being equal, in each district
wherein branch of the present State Bank
! of Indiana il now located, the same county
i'm which such branch is located; and they
shall appoint two sub-commsi0ners for each
of said districts. who shall be residents here
in, to receive subscriptions Of stock, ond per-
form such other duties as may be required by
this Act. If said Commissioners do not make
the whole number Of districts authorized by
this Act, the Board of Directors Of the Bank
may, at any time after being organized, lay
eff from time to time additional districts, and
locate branches therein: Provided, that the
whole number established shall not exceed
the number herein authorized.
Sec. 4. Should any of the branches here.
lin established fail TO organize, as herein con.
tempplated, il shall be the duty Of the Direc.
tors of the Bank, once in each year there.
after, If required by any number Of the citi-
zens who will be responsible for the ex.
pense, to open books II subscription within
such district, aud locate and organize
branch therein, at such place as they may
select, il the amount of stock herein required
shall be taken and paid for under the provis.
ions Of this Act.
SEC. 5. The said Bank shall! keep an Of.
; fee at the city, Of Indianapolis, and the Di.
rectors thereof shall meet and hold thier ses-
sions at least once in three months. II shall
be body corporate and polite, with power
to sue and be sued, plead and be implicated,
in any court Of law or equity having juris.
drcrion, and to transact all other lawful bus
mess herein permitted them to do: and shall
have power by and through her branches. and
not otherwise. to loan money, buy, sell and
negotiate bills Of exchange. cheeks, promis-
sorry notes, and other evidences OF debt, to
discount, on banking principles and usages.
bills of exchange, post notes, promissory
notes, and other negotiable paper or OBJ
{ legations for the payment Of money: to
4 receive deposits, to buy aud cell gvid,
, silver, bullion, and foreign coins; to draw,
issue, and put in circulation. bills, notes, post
y notes, bills OF exchange, and other evidences
. OF debt, payable to order or bearer, and not
otherv Use; and all such notes and bills put in
circulation as money, except post notes and
bills of exchange, shall be made pay able on
demand; and to exercise such other nciden.
7 tai powers as shall be necessary to carry on
: such business.
q SEC. 6. The real estate which it shall be
lawful for said Bank to purchase, hold and
'' convey, shall be-first, such as shall be re.
y quired for its immediate accommodation in
the convenient transaction Of it's business; OF
second, such as shall have been mortgaged to
d it in good faith by way of security for stock
a loans previously contracted, or for money:
due; or third, such as shall have been con.
veyed to it in satisfaction of debts previously
q contracted in the course of it's dealings; or
sr fourth, such as shall have been purchas ed al
E. sales upon judgments, DEGREES or mortgages
/, obtained or made for such debts; and the said
Bank shall not purchase, hold or convey rea
10 estate in any other case, or for any other pur
e. pose; and all such real estate not absolutely
necessary for the convenient discharge of il:
business, all be set up, at least once year
.e at pnblic sale, after having given thirty days
q notice of such sale, describing the propert,
so to be sold, and the name OF the mortgagoI
in at least one newspaper in the dis;rlc
II where said bank is situate, and placing thre,
written notices in the most public places il
the town where the bank is located, and shall
e be sold if the same will bring the amount o
}. the debt, interest and costs for which tn
). same msy have. been bought, received o
!, taken Sv the Bank. and which shall remaiI
l. after deducting all profits received there
v, from.
Is SEC. Z. All conveyances of real estat,
shall be signed by the President of the BanI
and have affixed the seal thereof.
"a Sec 8. The said Bank shall not at an,
- time suspend or refuse payment, In gold o
'" silver, of any of its notes, bills, or obliga
& Il ms due or payable, nor of any moneys re
re ceived upon deposit; and it said Bank at an,
i. time refuse or neglect to pay any bill, not
or obligation issued by such Bank. il de
handed within the usual banking hours, a
the proper branch where the same is payabl