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

under seal or not, and all such evidences
Of debt, other than notes of circulation,
shall be payable to the orderof some per-
son therein named.
SECTION Al, No branch of The Bank
Of 0hioshall, at any time, have in circu.
lation notes in the simililude Of bank
notes, TO an amount bearing greater pro-
portion to the capital stock Of said branch
actually paid in, and at the time remain.
ing undiminished by losses or withdraw.
al, than the proportion hereinafter speci-
fed, that is TO say:
On The first hundred thousand dollars,
or any lesser amount Of its capital, not
more than twice the amount Of such cap
ital.
On the secord hundred thousand dol
ars or part thereof, not more than once
and three.quatlers the amount Of such
capital, over one hundred thousand.
On the third hundred thousand dollars,
or par, thereof, not more than once and
half the amount Of such capital, over two
hundred thousand.
On The fourth hundred thousand dol.
lars, or part thereof, not more than once
and quarter the amount Of such capital,
over three hundred thousand; and,
On any amour. Of capital over four
hundred thousand dollars. not more than
an amount equal to such capital, over four
hundred thousand.
SECTION As. Notes designed for cir
culaion shall be delivered by the Bank
of Ohio to each branch, OH written or
der, signed by the president and major
ity Of The directors Of such branch; such
orders shall he carefully preserved by said
bank i'll its Office; an accurate account o.
all The notes so delivered, the amount o
the notes of each denomination so deliv.
cred, and the date Of such delivery, shal
be kept by the Bank of Ohio, in book
or books, to be provided and KEEP. in its
Office at Columbus; all notes so worn, de.
faced or mutilaied, as 10 be unfit for cir
cula'ion, shall be returned by the branch
by which they were issued to the bank
and an equal amount of new notes receiv
ed therefor; all such notes 50 returned BY
a branch, shall be credited, and all new
ones delivered in their stead shall b.
charged 10 such branch on the books o
said bank; and The notes SO returned shal
be burned 10 ashes in the presence Of tn,
president, and at least two Of the direct
, ors of said bank.
+ SECTION. 46. Before the bank shal
II ---~-
deliver 10 any branch, notes for circuia
2 lion, it shall require such branch 10 pa
. over or deposit to the credit Of said bank
{ as said board shall order, either in none,
= or in certificates of the stocks Of thi
2 State, OF of the United States, at their cur
I rent value in the city of New York, bu
/. in no instance above their par value, a
j.. amount equal to ten per cent. on tn
D amount Of the notes for circulation whic
-, shall be delivered 10 such branch. An
! so, from time TO time, as any branch may
E. by the paying in of an additional amour
/. on lis capital stock, or by not having re
=. ceived tie amount of notes for circulatio
!: 10 which il was previously entitled, /
e authorized to demand an additional amoul
OF notes for circulation, such branch sha
: deposit with the bank ten per cent. on u
II amount Of notes so required; and Il
"a stocks and money SO deposited shall
d denominated the. "safeiy fund.-" and sh;
II be invested as hereinafter prescribed, al
S, held by the bank as the properly of sa
le branch, in trust for the benefit of the Sc
"a eral branches Of tho Bank Of Ohio, and
fund for the redemption Of the notes
circulation Of apy' one or more of sa
branches that may fail TO redeem it's note
to be applied to that purpose in the ma
ID ner pointed out by this act.
SECTION ~. All m money so deposit
or paid to the bank on account of t
,e safety fund, by any branch shall be, II
ie der the direction of said bank, invested
is such branch either in stocks Of the 81;
II or Of the United States, or in bonds
in cured by mortgages on unincumbered r.
" estate situate in the county where su
o. branch is located, or in adjoining coAati
ed Of at leas. twice the value in each case
or the amount secured thereby, exclusive
mt buildings or other fixtures subject TO
~ destroyed by FIRE, BY foods or other &C
IS. dental occurrences, or Of timber. mines
= minerals subject 10 waste; which b.
vi shall be made payable on demaad 10