Meigs County telegraph. [volume] (Pomeroy [Ohio]) 1848-1859, 1856-05-20

Il
miuee OF the general assembly. or either
branch thereof, and Of any commission or
commissioners especially appointed foi tiA.
purpose BY ite geHerel assembly, ard OF
any person appointed BY any one of the
branches. They shall procure aid finnish
each branch with notes for Circulation, and
decide on The amount 10 Be furnished from
time 10 time 10 each, within ,he Limits and
Sgreeably 10 the ruesand restrictions pie.
scfibed' By this acl. They may bfescribe
rules lor ille settlement Of balances be,wesnk
the branches. They shall have power By I
themselves. or byaa committee 81 one 81
nofs members Of iheil own body or 81 &
Especial agent appointed By them ior that
purpose, whenever and as oflsA as lhey shall
think proper, 10 visit any branch, inspec, liz
books, records and accounts, and oil The
evidences OF debt due TO and securities held
by such branch;' examine and ascertain the
amount Of money and other properly held
by such branch; examine ON oath The presi-
dent, vice president, directors; cashier, and
oil other officers, agents, clerks or servants
oil the branch, touching It's condition, means
and Liabilities. They shall have power to
require any branch 10 reduce lis circulation
or other liabilities. within such limits as they
shall, after full inquiry ihl6 itd condition,
deem necessary 10 secure ftoih loss either
The dealers with such branch, OF The o.hey
branches Of the bank oil Ohio. Tkes NAV
REQUIRE The officers OF each branch 10 make
out under oath, and transmit TO the Office Of
said bank al Columbus, statements Of the
condition thereof, in such form as Such
bank shall prescribe, and as fiequenily as
they shall deem proper. which sIatemenls
shall be recorded In book or books 10 be
kept for that purpose. They may appoint
an executive committee of not less ,hau
three. Of whom the president, or vice pres
iden, shall be one, 10 &C, in behalf Of Tho
bank n such cases, and perform all such
duties as shall be prescribed by The bylaws
of said bank, no. inconsistent with this ac..,
Sec. Al. The president, vice presiden,
rnd secretary Of The bank shall each receive
such compensation for their services as said
bank shall allow, which shall bs assessed
upon The several branches of the Bank Of
Ohio, in the laiio Of their capital stock
The bank may also allow the executive
committee such compensation as il shall
deem just and reasonable, to be paid BY the
several branches in the same manner; and
The expenses of procuring plates and print:
ing notes Of circulation; shall be paid by
The several branches 10 the ra,io Of The
notes Of circulation. received by each.
Sec. az. Each director Of the bank shall
continue in Office until the first Monday of
February. next after his appointment and
until his successor shall be appointed and
qualified; vacancies in the board shall be
filled by the branch by which the appoint
tnent vacated was made. In voting, each
member shall be entitled to one vote, and to
one additional vote for every fifty thousand
dollars Of the amount of capital stock paid in
to the branch represented by him over one
hundred thousand dollars, at the time of
such voting. The president and vice presi-
dent shall hold their Offices for one year, and
until their successors shall be appointed,
but they may be removed by resolution of
the board: They shall take an oath faith
fully, diligently and impartially to fulfil the
duties of their appointments and not know
ingly violate any of the provisions Of this
act. They may be required to give bond
in such sum, and with such securities as the
bank shall prescribe; and all vacancies in
said appointments shall be filed by the
bank.
Sec. 43. All notes issued by any branch,
intended to circulate as monsy, shall be-
payable at the branch by which they are is
sued, in gold and silver coin, the lawful cur
rency Of the United States, Or either, at the
option Of the branch, on demand; they shall
be signed by the president and vice presi-
dent of the bank Of Ohio, cotntersigned by
The cashier of the branch by which they are
issued, made payable to bearer, and shall
be negotiable by delivery; all other eviden-
ces of debt, issGed by any branch, shall be
negotiable or transferable in the same man.
ner as if issued by natural person, and
shall be binding on the branch, whether un-
der seal or not, and all such evidences of
debt, other than notes Of circulation, shall
be payable to the order of some person
therein named. a ssaf
Sec a.. No branch of the Bank Of Ohio
shall, at any time, have in circulation notes
ID the similitude of bank notes, to an amount
bearing greater proportion to the capital
stock Of Said branch actually paid in, and
1t the time remaining undiminished by loss
IS or withdrawal, than the proportion here
natter specified, that is to say:
On the first hundred thousand dollars, OF
my lesser amount of its capital, nor more
han twice the amount of such capital.
On the second hundred thousand dollars
,r part thereof, not more than once and
the amount Of such capital;
,yer one hundred thousand.
On the third hundred thousand dollars;
or part thereof, not more than once anda
ialf the amount Of such capital, over two
hundred thousand.
On the fourth hundred thousand dollars,
,r part thereof, not more than once and a
quarter the amount 81 such capital, over
hree hundred thousand; and,
On any amount Of capital over four hun
lred thousand dollars, not more than an
lmouht equal to such capital, over four hum
lred thousand.
Section IS. Notes designed for circula-
ion shall be delivered by the Bank Of Ohio
o each branch, on written order signed
W the president and majority Of the di-