The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1855-01-30

synopsis of the Bank Bill repaired yes
tc,day from the Bank Committee in
the house.
lst As TO stockholders. These are to be
not less than eieren, majoriiy OF " HON shall
be residents OF Indiana. They are to be in.
dydually liable TO an amount equal to the
amount Of bonds held by each.
Ode As 10 the securities These are to consist
Of State or United States stocks, paying a
semunnual interest, end bearing per cent,
interest, or made by additional bonds equal
to that rate OF interest. One hundred and
fifteen dollars worth of bonds are to be de-
posted for every one hundred dollars worth
of issues. No bond is To be received at a
value higher that its market value, or for
more than its par value.
When the stocks deposited shall dcpreci-
ate, the Governor, Secretary, Auditor and
Treasurer of State, shall require the amount
of the depreciation to be made good by the
deposit of additional stocks, or by retiring
proportional amount OF the circulation.
Sd, Wien Bank may go desperation. Fifty
4 thousand dollars worth OF bonds must be
filed; list stating the names of stockholders,
places OF residence, number of shares held
/ by each, when the bank is to commence,
and where to be located, must be flied with
holders must also be filed with the Recorder
off county where the bank is to be luca-
4 ted.
4h, Issuesof Bank may be made in notes
less than denomination OF five dollars, but
the whole amount of such issues shall not be
more than one sixth of the whole issues
All notes siaU be rece'ped for de6tS Zinc udinQ
tases) due hs STATE.
6fb f{o,, IocoJ NVhan mn a., al !,
redeem It's notes the Auditor is forthwith TO
proceed TO redeem its outstanding issues, by
advertising in two papers in New York and
two at lndanapoiis, stating the place in New
York where the deposited bonds will be sold
and with the proceeds ito pay prosrata
amount on each bill. The Governor, Secre-
f tary and Treasurer of State to determine as
to the best mode of securing the bill holder
against loss. The sale OF he bonds to be
made within twenty days alter the first ad-
vertisement.
9Th, Miscellaneous provisions. Notes Of
banks are to be signed by the Auditor and
Treasurer Of State; the latter to hold the
plates; neither of whom shall be stockholders
or BY ices, or in any other manner become
directly or Indirectly, interested in any banks
established under this act No one in any
purchase the issues of the bank in which
such connexion or interest exists at dis.
count.
The place OF business of the bank shall be
where the notes purport it to be. The mum
Der of Directors shall not be less than five, a
majority Of whom shall be residents in the
county where the bank is located. The
: bank TO be kept open during the usual bank
ing hours
The amount of specie to be kept on hanC
shall be l25 cents on the dollar.
5 commissioner to be appointed with ful
2 powers TO make an an examination into thu
aft ,irs OF lie bank; and annua, reports are
required 10 be made by the banks. Exist
ing banks may, by complying with the re
qurements OF the act by the first of pri
r next, become Incorporated under its provi
slons.
;, Ali violations of official duty to be made
felony or rnisdemeauor, punishable by heav.
" line aud Imprisonment.
n The Legislature may alter repeal thu
c act.
r. The Auditor is to have stated salar
for his services, which will be provided il
= another ac'-so we are Informed
n s. ate .Jour, 26h.