The Perrysburg journal. [volume] (Perrysburg, Ohio) 1853-1861, 1856-09-25

elected to carry on its business as an ndepend-
ent bank, and shall have complied with the
qUrements of this act, preliminary to the com
nenccm mt Uf banking business, shall, before it
shall commence such business, and beloR it
shall b, held to have acquired corporate powers,
deposit with and transfer to the Treasurer of
State, certificates Of the funded debt of this
State, of the United States, of the Slute Of
Massachusetts,, Indiana, Illinois. Kentucky,
Prnnsylvana, Maryland, New York or Michi-
gan--One-half nt which shall b. in the cerili-
Gates of the United States aud of this State, an
amount at least equal to the amount OF its cap
ital stock a such time paid in; and from time
to time as an additIoua nstallment or portion
Of its capital stock shall BE- paid in additional
certificates of the funded debt above speci fled,
at least equal in omouut Of such additional pay
mrnts of capital stock shall within thirty days
after such payment, be deposited with and
transferred to tie treasurer OF state but no
such certificate Of funded debts shall b. rCcaivcd
by said treasurer at rate OF price above the
average selling price Of such certificates at the
New York stock exchange fnr the four weeks
next preceding the time of the receipt thereof by
the treasurer, nor shall any certificate BE- re-
c'ived at any rate above its par value, exclu-
sive of the unpaid interest that may have ac-
cruci thereon AMI if such bank shall fail TO
make deposits and transfers of stocks as in this
section required, all its franchises and powers
derived from this act, except such as may be
necessary to settle up its Affairs, shalt immcdi-
atcly cease and determine.
Sc Gl. The treasurer Of state shall d-liver.
from time to time. as he may be prepared SO to
do. 10 any inlapen lent bank that may have en-.
titled itself thereto, on the written order of the
President and a majority Of its directors, notes
for circulation to any amount not exceeding the
value of the certificates of funded debt deposit
/ al b,.e cb b,,, l. OF
prescribed by the preceding section; but at no
time shall the total amount Of such notes deliv-
cred to any such bank exceed three Tins t c
amount at such time actually paid in on its clPi-
tai stock, and remaining as capital stock, unli-
minished by losses or otherwise.
SEC. &C. In order to flrnishs1itable notes for
circulation to such independent banks, the treas
urcr is hereby authorized and required to cause
to ha engraved and printed in the best mcnner tc
guard against countarfti,ing. such quantity OF
circulating notes in the siml,tule Of bank notes
in blank, Of the several denominations provid
for in this act, rs he mav from time TO tim
deem necessary to furnish to such Independent
banls according to the provisions hcreintfri
set forth; which notes shall be coUn;ersign u,
numb'rcd and registered in proper books 10 b.
provided and kept for that purpose in the Office
Of said treasurer. under his direction, br suCI
person or persons as he mag appoint, so tha
each denomination Of such circulating notes
shall bar the uniform signature of one OF sucI
registers and all the notes Of each separate de-
nomination shall hear the same advice and heai
n general similituln; and the notes or bills to b.
so C0miCrsguod shall have s'umped or printed
on their face the words Secured by the p!cdg'
of stock"
SEC g. The plates, dies anil materials to b
procured by the trrasnrorof state for the rriuiu!
and making The circulating notes provided io
in The siX'inth I>iyty secondl saCt.n Of this act
shall remain in the custody of said 'raSurran.
under his direction. and the expense neccssa'i'l
incurred BY him in executing the provisions %
this act. shall be audited and settled bv iM
auditor Of state. and paid nut Of Huv moneys in
The treasury not crharwis' appropriated and 70
the purpose of imbursing Tie same 10 tn
treasury. the said treasurer is hereby authorized
md required TO charge against. and rerrlve from
each bank receiving such circulating notes. sucl
rate per Ccntum thereon as may he sufficient tn
/ that purpose. anl shall, from time to time
/ equaiizc said expenses among the'bonks to Whom
such circulating notes may be furnished.
( SIC g. After any such in lcpnn lcut bonl
! shall have caused to b, cxacut d an signed b,
/ the president and CASH II reof the cjrcula
/ ting notes received from III tr3:s rar o. s. I,
| in such mann'ras may BE- requisite to make the
/ obligatory notes, payable on demand at it
/ place of business such bunk is hereby authoril
ed to issne and circula'e he same as money.
Src. 65. 1t shall be the duty OF The trcasn
r7r Of state to receive muilatrd circulating not,
issued BY him to any ofsuch in dependent banks
and to deliver in place thereof other circulating
notes to an equal amount, anil the said mUtil.
ted notes, after an acrount shall have en ~
tered in the proper book or books, shall r.
burned to ashes by the said treasurer, in th
pr sCnce Oft the secretary of state, and the office
or agent Of said bank by whom the said not.
shall have been delivered to the said treasurer
and a certificate of said burning, signed b
said Treasurer, shall BE- made in tn books Of L
rrgi,t'r, and duplicate thereof given to sa'
agent.
TrO pr c,NTfSI-FO