The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1856-05-22

es shGiiius sDy time have been I sustained by
any bank, equal 20 or exceeding its nndi-
ylded profits then on hand, no dividends
shall be made, and no dividends shall
ever be made by any bank, while II shall
eontinnsits banking operations to an amount
greater than its net. profits then. on hand +,
deducting therefrom its losses and bad and
suspended debts; and all debts due to bank,
on which interest Is past due and unpaid for
period OF six months, unless the same shall
( be well tecufed, and shall be in the process
Of collection, shall be considered bad or sus.
pended debts, within The meaning of this
section. ~ s4tt-,.i
SEC, "a. The directors ofeaeh bank shall,
semi-anpually on the first Monday in Nay
aud November, declare a dividend Of so
much Of the net profits Of the bank as they
shall judge expedient; and on each dividend
day, the cashier shall makea fullclear and ac-
eurate statement ofthe condition of the bank
as it shall be on that day, after declaring the
dividend, which shall be verified by the oath
Of the chashier, president and majority of
the directors; and similar statements shall
also be made made on the fret Monday in
each month, in each year, which statements
shall contain, ltrs.r- -s-.
First-The amount OF the capital stock
actually paid in, and then remaining, as the
capital stock of the bank; -r
Second-The amount ofthe bills or notes
Of the bank then in circulation, specifying
the amount Of each denomination 'sr'
+ Third-the greatest amount in circulation
at any time since the making OF the last pre-
vious statements of the cashier, specifying
the times 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;
/ Fifth-The amount due to depostors;
Sixth-The total amount Of debts aud lia-
biities of every description, and the great
est amount since the making OF the last pre-.
vious statement, as shall have been exhibit
ed by the weekly statements of the cashiers,
specifying the time when the same occur.
| red; .. r. -. ...-,
Seventh-The total amount of dividends
declared on the statement; --. -.. ... h..
Eighth-The amount of gold and silver
coin and bullion belonging to such bank,
and in possession, at the time of making the
statement, designating the amount of each;
| Ninth-The amount subject to be drawn
at sight, in gold and silver, then remaining
Oh deposit with solvent specie paying banks
or bankers, in the cities Of New York, Phil
adelphia, Boston and Baltimore;
Tenth-The amount then on hand, of
bills or notes issued by branches of the bank
of Ohio, the amount issued by other banks
ofthis State, and the amount issued by banks
not of this State;
! Eleventh-The amount of balances due
from branches of the bank of Ohio, the a.
mount due from other banks of this State,
and the amount due from banks not OF this
State, excluding, in the latter case, deposits
in the cities of New York, Philadelphia,
Boston and Bah imore, subject to sight drafts
payable in specie; -. ..>>-....
] Twelth-The amount on hand of bills,
bonds, notes and other evidences of debts,
discounted or purchased by the bank, sp eci-
lying particularly the amount of suspended
debt, the amount considered bad, the amount
consde; ed doubtful, and the amount in suit
or Judgement; -, -.
Thirteenth-The value of the real and
personal property, held for the conven ience
of the bank specifying the amount of each,
Fourteenth-The amount of rea estate ia.
Ken in payment of debts due the bank;
tlfteenth-1'he amount of the undivided
profits of the bank: ...#.
| Sxteenth-The total amount the labili-
! ties to the bank by the directors thereof, COL
lectiveiy, specifying the gross amount Of
such liabilities as principal debtors. and
! the gross amount as endorsers or sure
lies;
Seventeenth-The total amount of liabil.
tiles TO the bank of the stockhol thereof
| collectively, specifying the gross amount of
such liabilities as principal debtors, and
the gross amount as endorsers OF securities;
which statemen: shall be forthwith trans nit
| ted to the Auditor of State.
An abstract of every such statement show
ing the condition of the bank, shall be i'm
mediately published by the bank, in some
newspaper printed in the county where such
bank is situated.
SECTION 25. The general assembly shall
never impose any greater tax upon property
employed in banking under this act, than
is or may be imposed upon the property of
individuals.
SECTION &c. Every bank organized under
this act may take, reserve, receive ard
charge on any loan or discount made, or
upon any note, or bill of exchange, or
other evidence of debt, at the rate of six per
centum per annum on the amount fany such
note, bill Of exchange, or other evidence of
debt so discounted, and no more; provided,
however, that interest may be reserved or
taken in advance at the time of making the
loan or discount, according tGthe usual rules
OF banking, or as calculated in Rowlett's ta-
bles; and the knowingly taking, reserving
or changing on any debt or demand discount
ed or purchased by such bank, at arate of in.
terest greater than that allowed by this Sec
ton, shall be held and andjudged forfeit.
ure Of such debt orydemand, but the purchase
or discount of bonafde bill Of exchange, or
note payable at another place than the place
Of such purchase or discount, and the taking
or reserving of interest thereon at the rate
aforesaid, from the time of such purchase or
discount, until the maturity of such bill or
note, shall not be held usurious, although ex
change on the place where it is made paya-
Bile, is at the time Of such purchase or dis
count, worth a premium; nor shall the dis
count or purchase of bonafide bill or note,
payable at place, between which and the
place, of discount or purchase, exchange is
in favor of the place Of discount or purchase,
and the taking in addition to the rate OF in.
terest Aforesaid, the rate of exchange between
such places, be deemed usuriouS; provided,
no more than one half Of one per cent shall
be taken as exchange upon any such paper
payable in this State, and no more than one