Eaton Democrat. [volume] (Eaton, Ohio) 1843-1856, 1856-05-15

ri Sucn@hCtr OF tnSoiNOHSg SUNA vte'S" ~!
Ipply 10 any CONT OF competent Jurisdiction
Or a wfit OF injunction TO sad Bank Of Ohio
o suspend al lurber proceedings againsssuch
as an insolsen, bank; and such court
lfler ching said Bank.d Of Ohio 10 appear aau
how cause why such writ should not be grant
ID, aud afier The finding Of a jury That such
branch has at ell lines continued, anu SUI
continues 10 redeem, in gold and silver com,
us notes Of circn laiion, shall make an otcer
eui ining The Bank Of Ohio from all tur.het
proceedings against such branch on a%cconplot
lie supposed oct Of Insolvency on which such
proceedings were instiiaied, sndthereu pom nll
the properly and assets Of such branch shall
De restored to lis diSeciots.
SECTION 81. Ir Tile Bank Of Ohio shall in
any case, Tail o .pIeceed ia the manner pre-
in he FOREGOING sections ofthis, act, III.
nroviding for The paymenitol the outstanding
notes ofcirculalion, AMI in closing The nlIairs
OF any branch that shall have committed an
ACT OF insolvency, the holderof any of lis notes
of cremation, OF other creditor of such branch
nav IN case payment OF such notes 81 circu-
lation or other claim has been refused when
lawfully demanded, aud remains unpald, apply
to any court Of Incompetent jurisdiction 10 us
writ commanding the Bank Of Ohio so TO pro
cetd; aud it shall be the duly OF such court,
alter citing such bank 10 appear and show
cause why such writ should MT issue, and
upon tue finding OF q jury that such act Of m
so!vency has heen committed, to issue their
writ commanding said bank 20 forthwith pro-
coed in the manner pointed out.in The piece
ding sections Of this act, 10 provide ioT uae
payment OF the outstanding notes Of such
branch, close up lis affairs and make appuca-
ton OF its assets.
SEcqioy IS. That if any branch Of the Bank
pG Ohio Shaltneglect or refuse 10 eoInpiY WIN
any order Of the Bank Of Ohio, requiring such
branch TO reduce its circulation or sothet, la
bilities, or 10 provide larger amount OF spe-
Gle CT other means, or 10 pay IN rs STOCK, OF
10 do, or cease 10 do, any other matter, OF thlne
which said hank may deem necessary Tor The
security OF such branch, or other branch o.
branches, said hank or any director thereof,
acting for said bank, mat apply 10 any Judge
OF The supreme coltt or couft OF common pleos
or any Mdge OF o Superior court, by petition,
in which tie Bank Of Ohio shall be made pc
I%litionef, and the branch implicated defend
ant, setiips forth The substance OF such ORDERS
! and such neglect, or refusal, on the part OF 1.-THE
branch, its officers or agents, to comply there
With: and If the president, vice president, O.
any director OF tile bank, shah make utiidayf
Of The truth Of the facts therein slated, II sha'
be the duty of such Judge 10 allow an %inlunc.
tioa, and 10 enioin such branch, lis officers
agents, and all Others in its employ, or con
| necie1 herewith, from doing, or suffering, o.
permitting 10 be done, any business Whateye'
| Is a bank, md from ia iermeddlMg With, or IL
any mannet disposing Of The books, papers
money, chooses in action, assets, or propettyo
The branch, whatsoever, until the further or
Ger Of he supreme court, or some judge ibeie
! Of. The petition shall be flied in the supreme
court et Gulumbos, as soon asinjunction is al
lowed.
SECTION 56. Upon The allowance OF sucl
inju icl ion, the property, credits, securities
liens and assets, Of every description, OF snel
branch, shall fotbwith vest nj The Bank 0
Ohio, who shall appoint a receiver, 10 TAX,
possession ofthe same, as provided inthe 49.l
section of This act. a certificate Of appoint
mem Of such receiver, by the judge, OF court
or clerk lhe,eof, making The same, shall b
sufficient authority 10 him to take possession
OF the books, property, and rights o levery des
cription, Of such braneh, aud shall be full au
1 thufity 70 The sheriff Of The county, whete th
branch is located, TO give such receiver lnI
possession of such books, property anu rights
with the aid OF the county II required; an
said bank and receiver shall be governed b
the provisions Of this act, as provided in case
of suspension; and upon the dissolution I
such INJUNCTION, or a discriminating of sue
su it by The bank, all the rights and pfope,i
of such branch shall be restored TO and vest
sa id branch.
SECTION 81. Tie directors OF The bank {
lOlio wheaeter ihty may deem 1t expedieni
may establish an office in each or either OF III
cilies OF New York, CINCINNATI and Clevt
land, for The receipt Of deposIts md redemf
ton of The circulating notes of The branches
upon such terms as they may, from time
Itime prescribe, and also o clearing house
'IColumb1s. They may make oil rules and rel
u~lations necessary 10 the good management {
such Offices and clearing house, require III
sew eral branches to contribute 10 the capt.;
of such Offices, not exceeding FIVE per cent. {
The stock paid in by each brunch, ana compt
the branches TO make their collections ond de
,]pnsils With aid offices, and 10 employ all sue
agents as may be necessary. The net ptohl
Of .4he Offices shall be divided among u
branches equitab!y. The office 10 New YoTs
ia ifa1soctung its business in that place, ma
take, reserve, and receive such rate of inleI
est as is OF may be lawful by The laws OF III
Slate Of New York, and no more.
SEcrlox 50. Any existing independentbanl
4 thanking company, OF free bank created b
the laws Of his State, and authorized 10 issu
notes for circulation may, after the organic;
ton ofIhe Bank of Ohio, become a branch (
, The Bank of0hio, ~uponfult compliance wit
all The acquisitions OF this act necessary
create a branch ofsuch bank, The directo