True American. [volume] (Steubenville [Ohio]) 1855-1861, 1856-04-30

in the manner provided in its charter;
Provided, that nothing in this section con.
tanned shall be so construed 20 TO require
the Bank of Ohio to admit any such inde-
pendent or free bank to become a branch
Of the bank of Ohio unless the directors of
the Bank Of Ohio shall be satisfied that the
admission Of such bank will not jeopardize
the interests of the public, or of the Bank
Of Ohio.
SECTION SO. The Bank Of Ohio, after
establishing its agency in New York, shall
as bonus for this charter, in addition to
the taxes to be assessed under the twenty
fifth section ofthis act t,when required by the
proper officers of the State of Ohio, dis
charge the duties of transfer agent of the
State and receive and disburse for the State
all moneys necessary to be received aud
disbursed in that city in the payment of
the public debt and interest thereon with
out any other compensation or charge for
such service,
IN RELATION TO INDEPENDENT BANKS.
SECTION 60. Each company that shall
have elected to carry on its business as an
independent bank, and shall have complied
with the requirements Of this act, prelim-
mary to the commencement Of banking
business, shall, before it shall commence
such business, and before il shall be 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 State Of Mas
sachusetts, Indiana, Illinois, Kentucky,
Pennsylvania, Maryland, New York or.
Michigan-one-half Of which shall be in
the certificates Of the United States and of
this State, an amount at least equal to the
amount of its capital stock at such time
paid in: and from time to time as an addi.
tion installment or portion of its capital
stock shall be paid in, additional certif-
Gates of the funded debt above snecifed, at
least equal in amount to the amount ofsuoh
additional payments Of capital stock shall,
within thirty days utter such payment, be
deposited with and transferred to the treas
urer of State; but no such certificate Of
funded debts shall be received by sald treas-
urer at rate or price above the average
selling price ofsuch certificates at the New
York stock exchange for the four weeks
next preceding the time of the receipt
thereof by the treasurer. nor shall any GER
tifcate be received at any rate above its
Pr value, exclusive of the unpaid interest
that may have accrued thereon; and If
such bank shall fail to make deposits and
transfers of sto *, as in this section re
quired, all its franchises and powers deriv-
ed from this act, except such as may be
necessary to settle up its affairs, shall irn-
mediately cease and determine.
SECTION 81. The treasurer of State
shall deliver, from time to time as he may
be prepared so to do, to any independent
bank that may have entitled itself thereto
on the written order of the president and .
rnnjnrity IF i,s directors, uuIes Tor clrcula'
tion to any amount not exceeding the val
ue of the certificates of funded debt depos
tied with and transferred to him by sucl
bank as prescribed by the preceding sec
ton; but ut no time shall the total amount
of such notes delivered to any such bank
exceed three times the amount at such
time actually paid in on it's cuptul stock
and remaining as capital stock undimin.
ished by losses or otherwise
SECTION 81. In order to furnish suita.
BILE notes for circulation to such independ
ent banks, the treasurer is hereby author
lied and required to cause to be engraved
and printed in the best manner 10 guart
against counterfeiting, such quantity o
circulating notes in the simulti;ude of banl
notes, in blank, cf the several denomina
tions provided for In this act, as he may
from time to time, deem necessary to fur
nish to such independent banks according
to the provisions hereinafter set forth
which notes shall be countersigned, mum
, bered and registered in proper books to b,
provided and kept for that purpose in th'
Office of said treasurer, under his direction
. by such person or persons ms he may ap
point, so that each denomination of sue
circulating notes shall bear the uuiforr
f signature of one of such registers and al
/ the notes of each separate denomination
shall bear the same device, and bear gen
E eral similitude; and the notes or bills t
be SO countersigned shall have stamped q
f printed on their face the words "secured b
A the pledge of stock"
SECTION 63. The plates, dies and mate
rials to be procured by the treasurer I
state, for the printing and making the Gil
> culating notes provided for in the sixtiet
section Of this act shall remain in the cul
tody of said treasurer and under his diret
! !, tion nd the expense necessarily incurred b
him in executing the provisions of this ac
. shall be audited and settled by the auditc
of state, and paid out Of any moneys in Il
=, treasury, not otherwise appropriated al
= for the purpose Of reimbursing the same
- - the treasury the said treasurer is heret
:. - authorized and required to charge again
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