The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1856-05-07

taollShing Us agency IN New OTk, shall,
as bonus for this charter, 10 addition 10
the taxes 10 be assessed under the tuena
/ ty-6flh section Of this act. when required
by the proper officers Of The State OF Ohio
discharge the duties of transfer agent Of
The Stale and receive and dishurse for
the State al moneys necessary TO be re-
seived and discussed 10 that city in the
payment Of the public debt and interest
thereon without any other compensation
OF charge for such service. .-
IN RELATION To INDEPENDENT
BANKS.
See. so. Each company that shall have
elected TO carry on its business as On in.
dependent bank, and shall have sonpEed
with the Tequii iiements OF this act, pre-
liminary TO the commencement Of banking
business, shall. before Ii shsl commence
such business. aud before il shall be held
tohaye acquired corporate powers, de.
posit with ar transfer to the treasurer
of Sale certificates of the funded debt
OF this State, Of the United States. of
the State Of Massachusetts, Indiana,
Illinois, Kentucky. Pennsylvania, Mary
land, New Yoak or Aichigah- ene.half
of which shall be IN ths certificates OF the
United Sta'es and OF this State, an A.
mount at least equal to the amount Of
.ts capital stock at snch time paid in; and
| from iiRe TO time as an additional in.
stdlment or portion of its capital stock
shall be paid in, additional certificates OF
the funded debt above specified, at least
equal in amount to the amount of such
additional payments Of CO 2itsl stock shall
within thirty days after such payment,
be deposited with and transferred to tbs
treasurer Of State; but no such. certif.
catesof funded debts shall he received by
said treasurer 81 rate or price above the
selling price ef saeh certificates at the
New York stock exchange fer the four
weeks next preceding the time Of the
receipt thereof by the treasurer, uor shall
any certificate be received above its par
value, exclusive Of the unpaid interest
that may have accrued thereon: amt il
such bank shall fail to make deposits and
transfers Of stock, as in this section re.
quired, ali its franchises and powers de.
rived from this act except such as NAV
be necessary to settle up its affairs, shall
Immediately cease and Determine.
Sec, "a. 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,
Oh the written order of the president and
a majority Of its directors, notes for cir
culation to any amount not exceeding the
value Of the certificates Of funded Gebt
deposited with and transferred to him by
such bank as prescribed by the proceed
! ing section; but at no time shall lhe total
| amount ot such notes delivered to any
such bank exceed three times the amount
at such time actually paid in on its .capi.
tai stock, and remaining as capital stock
undimnished By losses or otherwise.
Sec. So In order TO furnish suitable
notes for circulation TO such independent
banks, the reasurer is hereby authorized
and required TO cause to be engraved and
printed IN the best manner to guard a.
gaInst counterfeling, such quantity Of
circulating notes in the simulitude Of
bank notes, in bank, of the several do,
nominations provided for in this act, as
he may, from time to time, deem neces.
sary to furnlsa to such independent banks
according to the provisions hereinafter
set forth; which notes shall be countpT.
signed, numbered and registered in prop.
er books TO be provided and kept for that
purpose in the office of said treasurer,
under his direction by such person or
persons as he may appoint, 50 that each
denomination Of such circulating notes
shall bear the uniform signature of one
of such registers and all the notes Of each
seperate denomination shall bear tbs
same device, and bear general simili
tudo; AMI the notes or bills to be so coun.
terslgued shall have stamped or printed
on their face the words secured by the
pledge OF stock"
SIC. So, The platee, dies aud materials
10 be procured by the treasurer Of State,
for the printing and making the circua.
ting notes provided for in the xieth
section OF this act, shall remain in the
custody Of said treasurer aud under his
directloa and the expense necessarily in
Cured by i'm in exl cutting the provis.
iols OF tins act, shall be audited and set.
i lied by the auditor OF state, and paid out
of any moneys in The treasury, not other
wise appropriated, and for the purpose
If re mbursing the same TO the treasury
the said treasurer is hereby au.borzed
and required TO charge against, and re.
ceyc from each banks receiving such cir
culating notes, such rate per centum
thereon as may Re suiiciert for that pur-
pose, and shall, from time to time, equal.
lze said expenses among the banks to
whom such circulating notes may be fur
uished.
Sec 81 After any such independent
hank shall have caused to be executed
and signed by the president and cashier
thereof, the circulating notes received
from the treasurer Of state, in such man
ner as may be requisite to make them
obligatory notes. payable on demand at
its place of business, such bank is hereby
authorized to issue and circulate The same
as money.
Sec. 65 It rhall be the duty Of the
treasurer of stats TO receive mulilated cir
oulaling notes issued by him to any of
sach independent banks. and to deliver
in place thereof other circulating notes to
an equal amoua,, and the said mutilated
notes, after an account shall haze been
entered in the proper book OF books.
shall te burned TO ashes BY the said treas.
urer, in the presence Of the secretary Of
Stale and the officer or agent of said bank
by whom the said notes shall have been
delivered to the said treasurer, and c.i-
tihcate Of said burning, signed BY said