The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1856-07-02

It's III the cities OF New orr, Philauel-
phia, Boston and baltimore, subject to
sight drafts, payable in speed;
TweIfth-The amount on hand of bills,
bonds, notes, and other evidences of debts,
discounted or purchased by the bank,
specifying particularly the amount of sus-
pended debt, the amount considered doubt
full, and the amount in suit or judgment;
Thirteenth-Til value of the real and
personal property, held for the convenience
Of the bank. specifying the amount of
each;
Fonrteenth-The amount of real estate
taken inpayment of debts due the bank;
Fifteenth-The asiount of the undiyid-
cd profits of the bank;
Sixteenth-The total amount of the
liabilities to the bank by the directors
thereof collectively, specifying the gross
amount of such liabilities as principal
debtors, and the gross amount as endors-
ed or sureties;
Seventeenth-The total amount of liza
bilities to the bank of the stockholders
thereofcollectively, specifying the gross OF
such liabilities as principal debtors, and
the gross amount as endorsed or sureties;
which statement shall be forthwith trans
mitted to the Auditor of State.
An abstract of every such statement
showing the condition ofthe banks, shall be
Immediately published by the bank, in
some newspaper printed in the county
where such bank is situated.
5 SECTION 25. The general assembly shall
never impose any greater tax upon prop
erty employed in banking under this act,
than is or may be imposed upon the prop
erty of individuals.
SECTION 26. Every bank organized under
this act may take, reserve, receive and 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 of any 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 advancesat the time OF
making the loan or discount, according to the
usual rules Of banking, or as calculated il
Rowlett's tables; and the knowingly taking. re-
serving or charging on any debt or demand
discounted or purchased by such bank, at q
rate of interest greater than that allowed by
this section, shall be held and adjudged a for
fixture of such debt or demand, but the pur.
chase or discount of a bona fde bill of ex-
change, or note payable at another place than
!. tho place of such purchase or discount, and
the taking or reServing of interest thereon al
the rate aforesaid, from the time of such pur.
chase or discount, until the maturity of such
bill or note, shall not be held usurious, although
exchange 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 a bona hde bill or note.
payable at a 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 interest afore-
said, the rate of exchange between such places
be deemed usurious; provided, no more than
one half of one per cent shall be taken as ex-
change upon any such paper payable in this
state, and no more than one per cent. upon
any such paper payable out of this state, and
in no case shall more than the current rate OF
exchange between such places be taken.
.SEcTIoa ~. The total liabilities of any per-
son or of any company or firm, Gncluding in
the liabilities of a company or firm the liabil-
fly of the several members thereby to any
bank organized under this act, inclusive of
liabilities as acceptor or acceptors of bona fde
bills of exchange, shall at no time exceed one
half, inclusive of liabilities as acceptor or &C
ceptors, one fifth, and exclusive of allliabilities
on such bills of exchange one-tenth part of the
amount of the notes which such bank is au-
thorized to circulate at the time of such la
..bilities.
SECTION 30. No bank shall, at any
time, pay out on loans OF discounts, OF in
purchasing of drafts or bills of exchange,
or in payment of depositors, nor shall ii
in anymode put in circulation the notes oil
any bank or banking company whichnotes
shall not ut that time be recoverable al
par in payment of debts, by the banks SO
paying out or circulating such notes, nor
shallit knowingly pay out or put in cir.
culation any notes issued By any bank OF
banking company which, at the time Of
such paying out or putting in circulation
isnot redeeming its notes in gold andsil.
vel, nor any notes issued b. any bank out
ofthe State.
SECTION 90. All notes, bills, and other
evidences of debt, excepting bills of ex
change, discounted by any bank, shall be
made by the terms thereof, or by specia
Endorsement, payable solely to such bank
and no such evidence of debt shall be as
signable except for collection, or for ths
following purposes
First-ro pay and redeem the circu
latiug notes of such bank;
Second-To pay other liabilities of thu
said bank; and after such liabilities shall
have been discharged;
Third-To divide among the share
holders on their stock.
SECTION 80. No bank organized un
der this act, shall issue any certificate o
deposit, order, draft, bill of exchange, Of
other evidence of debt, payablein curren
cy or in anything less valuable than golt
and silver coin, except receipts for speeia
deposits; nor shall any such bank keep an
accounts in currency or in any thing les
valuable than gold and silver coin, excep
accounts of special deposits.
SECTION 81. No bank organized I'm
der this act, shall be permitted, in receiv
ing payment at its banking house or othe
place than where the same was payable