Indiana American. [volume] (Brookville, Ind.) 1833-1861, 1855-04-27
WHOLE NUMBER 1163.

be SuDlect 70 lmpIioohuiens ~ naiu
labor il the State Prison, for such
term of years as the Jury trying the
case may think proper. and likewise
any commissioner or examiner wilful-
ly and knowingly subscribing or ma
king any false reports, shall be deem
ed guilty Of felony and subjected to
like penalties.
Sec. 70. Any officer. agent or clerk
employed in ssid bank or any branch
who shall embezzle or appropriate the
property or funds Of said bank or any
branch, with the intent to cheat and
defraud the same, shall be deemed
guilty Of felony and punishedin like
manner.
Sec. n. That the president aud di-
rectors Of the said bank man empower
any Of the branches at their own ex-
pense. to open books for the tran fer
Of stock in any Of the citizens Of the
United States; and any such branch
may authorize transfers Of any por-
ton Of its stock, without lien. OF re-
striction, on which the State has no
lien, on said books; which books shall
be kept open for inspection conforma-
bly, 70 the provisions Of the 25!h Sec
ton Of this act, and such transfers
shall be regularly certified TO the
Bank.
Sec. 20. That any branch or branch
es shall be authorized 10 contract with
such board and officers as the State
may empower, for the receipt and dis
basement Of any deposit Of public
funds by tho State and Cor the interest
10 be paid thereon. subject 10 the ap-
proval Of the board Of directors Of the
Bank.
Sec. 76. The capital stock Of said
bank and branches, shall be divided
into shares o { fiftydollars each. No
branch be shall organized until capital
stock TO the amount Of one hundred
thousand dollars shall be subscribed
therefor. and the commissioners here
in before appointed. after giving at
least thirty days notice by publication
in three or more newspapers published
in the city ofIndianapolis. and at least
twenty days notice in three or more
newspapers published in each bank
district. or many as may be published
in any district, where there are not
three published. shall cause books 10
be opened by the sub-commissioners
to be appointed for that purpose. for
the subscription Of the requisite amount
of stock, at such places within the dis.
tricts aforesaid, as shall have been
designated for the location Of branch
es, which books shall be opened be-
tween the hours OF and l2 A. NJ. on
the days and at the places specified in
such notice, and If the requisite amount
of stock shall not sooner be subscribed,
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
subscribed while the books are open
for any branch, the excess shall be Ia
ken frst from such as reside out Of the
State. next from corporatiocs, and
should there still be an excess, the
same shall be taken in proportion from
the subscriptions over one thousand
dollars, until all are reduced to that
amount, and then from all equally.
Sec. 80. IL q sufficient amount of
stock shall be subscribed by response
bic persons at any branch, it shall be
the duty Of the sub-commissioners 10
notify the commissioners thereof, who
shall give notice to the subscribers Of
the time when the first payment on
their stock shalss be made, which no.
tice shall be by publication in one or
moro 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 appointed for the
payment Of such instslmcnt, between
the hours 10 A. NJ. and Q o'clock p.
NJ. at some specified place at The
point where such branch is to be loca-
ted, for the election Of FIVE directors on
part Of the stockholders of such
branch. At such time and place. the
stockholders shall appoint two suita.
BILE persons who are not stockholders,
TO act rs judges. and one 10 act as
clerk, who shall, after being duly
sworn faithfully to perform their du.
ties. receive the ballots for directors,
and certify that those receiving ma.
jority Of the votes cast were duly elect.
ed, shall constitute the board OF direc.
tors so elected. shall constitute the
board Of directors ofsuch branch. for
the purposes Of its organization and
until the board Of directors of the
bank Of the State Of Indiana. shall be
organised and appoint directors on the
part Of said board. and the directors
so appointed. shall then be added 20
such branch board.
Sec. 81. Such first installment shall
be two dollars on each share Of stock
subscribed, and shall be paid to sub
commissioners by whom the books
were opened. and who shall attend for
that purpose, and in case Of the fall
ure Of any subscriber TO pay such FIRST
installment, the sub.commissioners
shall strike. his name from the books
and Immediately reopen said books
to receive subscriptions. 10 make up
the deficiency from any persons who
will pay such installment. As soon as
branch Is organized. said sub-com.
missioners shall pay over thereto, al
the money received from such sub,
scrpiions. and all books and paper.
aprertaining thereto, which, with the
returns Of the election for directors,
and the certificates thereof. shall bs
entered or copied into the record books
containing the proceedings Of the
board Of directors, which entriec shal
be prima facic evidence Of the fac
therein stated. II any sub-commis
sioners shall from any cause, fail :,
perform any Of the duties required O
him the same may be performed b,
any other person appointed by tn
commissioners TO supply his place.
Tim residue Of said stock shall be pal.