Holmes County Republican. [volume] (Millersburg, Holmes County, Ohio) 1856-1865, 1856-09-04

See. 81. No bank organized under this act
shall at any time be indebted or in any way
liable TO an amount exceeding, if branch of
the bank of Ohio two-thirds, or if any independ-
ent bank, the whole amount ofi its capital stock
at such time actually paid in, and remaining as
capital stock undiminished by losses or other
wise, except on the following aceounts-that is
to say,
First-On account of its notes of circulation
Second-On account of money deposited with
or collected by such bank;
Third-On account of bills of exchange or
drafts drawn against money actually on deposit
to the credit of, or due to such dank;
Fourth-Liabilities TO its stockholders on ac-
count of money paid In, on capital stock and
dividends thereon.
Sec. %. No bank shall, either directly or in
directly, pledge, hypothecate or exchange any
of its notes of circulation for the purpose of pro-
curing money. TO be paid in on lis capital stock,
or to be used in its ordinary banking operations,
or for the purpose of purchasing certificates of
state stock to be deposited with the Treasurer of
State, or with the bank of Chic; nor shall any
bank apply or permit to be applied, hypOtheea-
ted or pledged any portion of its capital stock
10 the purchase Of certificates of State stock to be
deposited with the treasurer of STATE as colla.er-
al security for the redemption of its notes Of cir
culation.
Sec. %. No bank shall, during the time it
shall continue its operations rs a bank, with
draw or permit to be Withdrawn, eitheri in form
of dividends. loans TO stockholders, for longer
period of time than four months. or in any other
manner. any portion of its capital stock; and if
losses shall at any time have been sustained by
any bank, equal to or exceeding its undivided
profits then on hal d, no dividends shall de made,
and no dividend shall ever be made by any
bank, while if shall continue its banking opera
tions TO an amount greater thar its net profits
then on hand, dedccting therefom its losses and
bad and suspended debts; and all debts DIE 10
a bank, on which interest is past due and M
paid for period of six months. unless the same
shall be well secured, and shall be in the pro-
cess of collection, shall be considered bad or
suspended debts, within the meaning of this
section.
Sec. "a. The directors of each bank shall,
semi-annually on the first Monday in May and
November, declare dividend of so much of the
net profits of the bank as they shall Judge ex-
pedfent; and, on each dividend day, the cashier
shall make a full, clear and accurate statement
of the condition of the bank as it shall be on
that day, after declaring the dividend, which
shall be verified by the cath of the cashier pres
ident and majority of the directors; and SINH
Monday in each month, in each year, which
statements shall contain,
First-The amount of capital stock actually
paid in, and then remaining, as the capital stock
of the bank;
Second-The amount of the bills or notes of
the bank then in circulation, specifying the
amount of each denomination;
Third-The greatest amount III circulation at
at any time since the making of the last previ-
Gus statements, as shall have been exhibited by
the weekly statements of the cashiers, specify
ing the time when the same occurred;
FOurth-The amount of balances and debts OF
every kind due to the branches of the bank of
Ohio, the amount due to other banks of the
State, and the amount due to banks not of this
State.
Difth-The amount due to depositors;
Sixth-The total amount of debts and liabili-
ties ofevery description. and the greatest amount
since the making of the last previous statement,
specifying the time when the same occurred;
Seventh-The total amount of dividends de-
clared Oh the statement;
Eighth-The amount of gold and silver coin
and bullion belonging to such bank, and in pos
session, at the time of taking the statement,
the amount of each;
Ninth-The amount subject to be drawn at
sigh, in gold and silver, then remaining on de-
posit with solvent specie paying banks or bank
ars, in the cities of New York, Philadelphia,
Boston and Baltimore;
Tenth-The amount then on hand, of bills or
notes, issued by branches CT the bank of Ohio,
Ihe amount issued by banks not of this State;
Eleventh-The amount of balances due from
branches of the bank of Ohio, the amount due
from other banks of this State and the amount
due from banks not of this State, excluding. in
the latter ease, deposits in the cities of New York
Boston and Baltimore, subject to
sight drafts, payable in specie;
Twelfth-The amount on hand of bills, bonds.
notes, and other evidences bebts, discounted
or purchased by the bank, specifying particular
ly the amount of suspended debt, the amount
considered bad, the amount considered doubtful,
and the amount in suit or judgment;
Thirteenth-The value of the real and person.
al property, held for the convenience of the
bank, specifying the amount of each;
FOurteenth-The amount Of real estate taken
in payment of debts due the bank
Fifteenth-The amount of the undivided prof
its of the bank.
Sixteenth-The total amount of the liabilities
10 the bank by the directors thereof. collectively,
specifying the gross amount of such liabilities
as principal debtors and the gross amount as en-
dorsers or sureties;
Seventeenth-The total amount of liabilities
to the bank of the stockholders thereof collect
ively, specifying the gross amount of such liza
bilities as principal debtors and the gross amount
as indorsers or sureties; which statement should
be forthwith transmitted to the Auditor of State.
An abstract of every such statemen. showing
the condition of the bank, in some newspaper
printed in the county where such bank is situa-
led.
Sec. a5. The general assembly shall never
pmnlOV-
ed in banking under this act, this is or may be
imposed upon the property of individuals.
Sec. 26. Every bank organized under this
net may take, reserve, receive and charge on any
loan or discount made, or upon any note, or bill
,f exchange or other evidence of debt, at the
rate of six per centum per annum on the amount
Of any such note, bill ofexchange, or other evi-
1ence of debt so discounted, and no more; pro-
vided, however, that interests may be reserved
DR. taken in advance at the times of making the
loan or discount, according to the usual rules of
banking, or as calculated in Rowlett's tables;
md knowingly taking, reserving or charging on
any debt or demand discounted or purchased by
such bank, at rate of interest greater thar that
allowed by this section, shall be held and ad-
judged forfeiture of such debt or demand, but
he purchase or discount of bona fide bill fo
or note payable at another place than
he place Of such purchase or discount, and the
aking or reserving of interest thereon at the
rate aforesaid, from the time of such purchase or
discount, until the maturity of sueh bill or note,
shall not be held usurious although exchange
IN the place where it is made payable, is at the
lime of such purchase or discount. worth apremi-
1m; nor shall the discount or purchase of bona
ide bill or note, payable at place, between
which and the place of discount or purchase ex-
change is in favor of the place of discount or
nd faIy ir,o trt tha
If inter est aforesaid, the rates of exchange be-
ween such places, be deemed usurious; provid-
ID. no more than one half of one per cent shall
De taken as exchange upon any such paper pay
Ible in this State, and no more than one per
ent upon any such paper payable out of this
State, and in no case shall more than the cur
ent rate Of exchange between such places be