True American. [volume] (Steubenville [Ohio]) 1855-1861, 1856-04-30

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to an amount greater than ihree-6fths Of
the amount of capital stock actually paid
ii and remaining undniinished, by losses
/ or otherwise, nor shall the direcOrs be so
liable, except to such amount and in such
manner as shall be prescribed by the by
faws Of such bank, adopted by its stock
hClders.to regulate such liabilities, and i
lshall be the duty Of the auditor, treasurer
and secrelary Of Slate, or a majority of
them, as often as once in each year, to
appoint some suitable person, who shall
not be a stOckholder in any bank Of this
State, who shall have power 10 make a
thorough examination into all the affairs
Of The bank which he may be appointed
10 examine, and in so doing to examine
any Of the officers and agents ofsuch bank
on ls.h, and such agent shall make tie.
tailed sepor, of the condition of such bank
10 the Auditor of State and the banks
organized under this act shall not be sub
iect 10 any otherayisitorial powers than
such as are authorized BY this act, except
such as are vested ID ihe several cour,sc
of law and chancery: and every agent
appointed as in this section provided,
shall receive for his services at the rate
Of four dollars for each day by him en-
ployed in sucn Examination, and four dol
lars for every twenty-five miles he shall
necessarily travel in the performance of
his duty, which shall be paid by the
Treasurer of State. and refunded by the
banks. as other expenses are refunded.
SECTION rs. Whenever any ndepen-
den, bank, being desirous OF diminishing
the amount Of lis circulating notes, shall
deliver 10 the treasurer of state any por.
tion Of such notes not less in amount at
any one time than FIVE thousand dollars,
to be destroyed, the treasurer shall de-
sNoy the same as prescribed in section
six,y.three, and shall thereupon transfer
Ind deliver 10 such bank, certificates Of
funded debt deposited with him by such
bank 10 an amount equal TO the amount
Of aotes, so delivered up; provided that
lhe amount Of such certificates, remaining
with the treasurer shall not thereby be
reduced below the amount Of the capital
stock Of such bank at the time paid in,
nor in any case below The sum Of one
hundred thousand dollars, nor in value,
esumsfing the same at their then current
price in the city of New York, below the
amount of circulating notes, still retained
by such bank nor shall the treasurer be
required to transfer such certificates in
fractional sums Of less than one thousand
dollars; and whenever any such bank,
being desirous of relnqushing its banking
business, shall have paid at least ninety
per cent. Of the maximum amount Of its
circulating notes, and shall have deliver
ed the same to the treasurer of sta'e 10 be
destroyed and shall have provided mean
and given security to the satisfaction oI
the treasurer, secretary aud auditor o.
state, forrihe redemption of its outstanding
notes Of circulation at The place where
the Office Of such hank was established
and shallhave given notice thereof by ad
Rertisement, Tor six consecutive months
in two newspapers Of general circulation
published at Columbus, and at least on
published in the city, town or villag
where the office of such bank is located
II shall be lawful for the treasurer Of stat,
10 re.transfer and deliver 10 slich bank al
the certificates Of funded debt previousl.
pledged with him by such bank, AM
t),erenpoh all the corporate powers o
such bank, except such as shall ba neces
baty to close up It's affairs, shall cease.
SECTION 76. This act shall be sub
miited 10 the electors, Of this state al til
general eleHlion TO be held on the The sec
Y ond Tuesday Of October next, for lhei
approval or rejeclion-and each eleclo
may have written or. piintedor Parl
Written and partly printed upon his itch
Il, The words "For the Bank Charter" q
"Againstihe Bank Charter = and til
judges Of each election District in coin
ing out the votes, shall set down in sep;
rate columns, inthe poll books, the vote
given "For The Rauk Charter" and til
votes given "Agaihs. the Bank Charter,
n and certify the number Of votes give
"a Z for, and against, The Charter, as they 'al
required to certify to the number of vot'
given (ur candidates.
SKcTioEf7. II shall be The duty
The persons opening the poll books
each county, to make separate abstra
pfsotes given for, and against, the cha
ter, including statement showing Il
number Of votes cast, which were neilb
given for or against the charter. Ar