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

lime Of making the loan or diScorht, sc'
cording to the usual rules of banking, OF
as calculated in Rowleu's tables; and the
knowingly taking, reserVing or charging
on any debt or demand discounted or
purchased by such bank, at a rate Of 'in-
terest greater than that allowed by this
section, shall be held and adjudged for
feiiure Of such debt or demand, but the
purchase or discount Of bona fide billof
exchange, or note payable at another place
than the place Of such purchase or dis
COUNT and the taking or receiving Of in.
ierest 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
exchange on the place where II is made
payable, is at the time Of such purchase
or discount, orth premiumi nor shall
the discount or purchase Of a bona fide
bill or note, payable at place, between
which and the place Of discount or pur.
chase, exchange is in favor Of the place
of discount or purchase, and the taking
in addition to the rate Of interest aforesaid,
the rate ofexchange between such places,
be deemed usurious; provided, no more
than one half Of one per cent shall be ta-
ken as exchange 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. ra
SECTION 81. The total alllabili,ies Of any
person or of any company or firm, (inclp.
ding in The Liabilities Of a company or 6rm,
the liability ofthe several members there.
off, to any bank organized under this act.
: inclusive ofliabilities as acceptOr or accep.
tors Of bona ide bills of exchange, shall at
no time exceed one half, inclusive oflia.
biliies as acceptor or acceptols, one fifth,
and exclusive ofall liabilities on such bills
of exchange one-tenth part Of the amount
of the notes which such bank is authori.
zed to circulate at the time of such liabili.
ties.
SECTION 2s. No bank shall, at any time,
pay out on loans or discounts, or in pur.
chasing Of drafts or bills Of exchange, or
in payment ofdepositors, nor shall il many
mode put in circulation the notes Of any
bank or banking company which notes
shall not at that time be receivable at par
in payment Of debts by the banks SO pay.
ing out or circulating such notes, nor shall
it knowingly pay out or put in circulation
any notes issued by any bank or banking
company which, at the time of such pay.
ing out or putting in circulation is mot
redeeming its notes in gold and silver. nor
any notes issued by any bank out Of this
State.
SECTION %, All notes, bills, and oths
evidences of debit excepting bills Of fex-
} change, discounted by any bank, shall be
made by the terms thereof, orby special
Endorsement, payable solely to such bank,
and nu such evidence Of debt shall be as
! signable except for collection, or for The
following purposes: M
: First-To pay and redeem the cilcula.
ting notes of such bank;
f Second-To pay other liabilities Of flhs
! said bank; and after such liabilities shall.
I; have been discharged;
Third-To divide among the sharehol.
8 ders on their stock.
SECTION 80. No bank organized under
j this act, shall issue any certificate Of de.
posit, oider, draft, bill Of exchange, or
! ! other evidence of debt, payable in curren.
! cy or in anything less valuable than gold
and silver coin, except receipts for special
deposits; nor shall any such bank keep
| any accounts in currency or in any thing
less valuable than gold and silver coin,
7 except accounts Of special deposits.
SECTION 81. No bank organized under
this act, shall be permitted, in receiving
n payment atils banking house or other
$ place than where the same was payable.
Q ofany note. bill, or other evidence ar dsbE
due to such bank, and payable al place
/ other than at its banking house. to receive
in addition 70 the amount OF such debl
and the legal interest due thereon, any sum
whatsoever as premium, exchange o.
T damages; provided, nothing in this section.
< contained shall prevent such bank, from
r receiving the damages allowed by Law
upon any bonaRde bill Of exchange, anIy
protested for non,acceptance or non.ps5-
Q meni. 4le'ga Ig0 as lal4
1 SEcrIos 80. All transfers Of no.s..
ieRn FoURTu pAanA .,,..