The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1855-04-19
AN ACT.
To establish a Bank qrith lrdnches.
Ok
(CoNcLUDED.I


SEC. As. No failure on thar. art of the
General Assembly, or of the'..... Ghes, to
elect Directors of the Bank, shaii0: consider
ed as a dissolution of this corporation, b1k
the directors for the time being shall cog
tnue to hold and exercise their Offices until
their successors are chosen and qualified.
SEC. 40. Said directors shall have power
to regulate and control the dividends of prof.
its so that the capital stock shall never be
and to create and keep up sur
plus fund that shall never be less than one.
sixteenth Of the capital stock in each
branch.
Sec so. In the calculation OF the prof.
its previous to dividend, interest then un-
paid, although due or accrued on debts owing
to the bank, shall not be included.
SEC. 81. Dividends of profits shall be de-
cared semi-annually.
SEC. 81. Said Board of Directors shall
have power to close any branch which, after
the frs, year, shall not yield profit of six
per cent. per annum upon the capital actual.
ly paid in, and the same may be proceeded
in as in case of insolvency, unless the dis
count shall have been limited and controlled
by the directors Of the bank, so as 10 prevent
said stock from yielding such profit.
SEC. 63. They shall cause to be opened
and kept, by their clerks, accounts with each
branch, showing the operations of each, and
keeping constantly in view their business
and condition, which shall be at all reasona-
BILE times open to the inspection OF any stock
holder, and of any person authorized by the
Legislature to inspect the same.
SEC. 81. They shall likewise keep a rec
ord of all their proceedings, in which all
their orders, votes and resolutions shall be
entered, with the ayes and noes on all
questions, which shall be open to like in
spection.
Sec. 55. They shall apportio1 the salary
of the president and all other officers, agents
and directors eff the Bank, aud all general
expenses, among the several branches, ac-
cording to the amount Of stock in each, and
shall have power to demand and receive the
same.
Sec &C. 1t shall be the duty of the d.
rectors of the Bank to keep and preserve the
original books of subscription of stock, and
to cause to be returned TO them from each
branch every six months a statement of all
transfers of stock made the preceding six
months.
Sec. 81. They shall also procure and
take charge of the plates, on which the pa
per Of said Bank shall be printed, and shall
cause a sufficient amount thereof to be print
ed from time TO time as occasion may re-
quire.
Sec 81. They shall deliver, to the order
of the Board of Directors of each branch, an
amount OF such paper not exceeding twice
the amount of the capital actually paid in at
such branch, except when more shall be
wanted TO replace that which may have been
worn out, defaced or lost; in which case all
so defaced shall be returned to said Board of
Directors of the Bank and destroyed; and
they shall give no other or greater amount
for paper lost than they shall have good rea.
son to believe is actually lost by circulation
or otherwise. No notes shat be issued OF
denominations between five and ten, or ten
and twenty, or twenty and fifty, or fifty and
one hundred dollars, nor shall more than one
sixth of the notes issued TO any branch be OF
denominations less than five dollars, and no
notes shall be issued of any denomination
| less than one dollar.
SEC. SO. Five Directors, with the Presi.
dent. shall be necessary to constitute q
Board for the transaction Of business; but
in case OF sickness or absence of the Presi.
dent, his place may be supplied for the time
being by any director cl osen by the Board
Sec. 60. II shall be the duty Of the Board
Of Directors, in the first week of each session
of the Legislature, to make report to both
Houses Of the General Assembly of the affair:
and business of said Bank, and Of each
branch thereof, setting forth in regard te
each,
FIRST. The amount OF available funds on
hand, designating each kind.
SECOND. The amount of notes discounted
i THIRD. The amount of bills Of exchange
) FOURTH. The amount and condition of tht
surplus fund.
FIFTH. The amount of notes in circula.
ton.
) Sixth. The number of officers ard ser
wants, and the amount Of compensation t.
, each.
SEVENTH. The amount of rents paid, il any
EIGHTH. The value of houses used fol
banking purposes.
!, NINTH. The value of other real estate
and whether the same has been regularly
offered for sale, as by this act required.
TENTH. The amount of debts due to ant
from other Banks.
ELEVENTH. A II such other matters as shall
: by them be deemed material and important
or shall be required of them by the Legisla
ture. A like report shall be furnished tc
the General Assembly by the Board OF Direc
tors of each branch; such report, made by the
directors of each branch, shall contain sucl
} statement of the condition of the same, a:
, aforesaid, as the same is found on the thrt
I Saturday Of November, in such year, at two
O'Clock in the afternoon.
SEC. 81. The directors, and all other off
GERS and agents of the Bank, and of eaci
branch, shall severally, before they enter
upon the duties of their office, make oath o.
affirmation well and faithfully to discharg,
the duties of the same.
Sec. 81. The stockholders OF each branch
shall, by ballot, annually elect not less thar