Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1856-05-22


lent on hand shall be restored. Actual de
posts with any solvent bank or banker, Of es.
tabished credit, 10 the cities Of New York,
Boston. Philadelphia, or Baltimore, subject to
b. drawn against at sight, payable in gold
and silver coin, shall be deemed equivalent to
gold and silver coin wherever these terms are
used in this act
Section 2l. No bank organ zed under this
act shall at any time be indebted or any way
liable TO an amount exceeding, il branch Of
the bank ofOhio, two thirds, or il sn indepen-
dent hank, The whole amount Of its capital
stock at such time actually paid in, and re-
naming as capital stock undiminisbed By loss
es or otherwise, except on the following ac-
counts-that is TO say,
Fist-On account Of IFS notes Of circulation; !;
See,nd-On account Of moneys deposited
with or collected by such bank;
Third-on account Of bills Of exchange or
drafts drawn against money actually on depos.
it to the credit Of, ordue to such bank
Fourth-liabilites to its stockholders on nc.
count Of money paid in, on capital stock and
dividends thereon.
Section p. No bank shall, ,i.her directly
or indirectly, pledge, hyPoLhecate or exchange
any Of its Eotes Of circulation for the purpose
Of procuring money, to be paid in on its cap
ital stock, or to be used in its ordinary banking
operations. or for the purpose of purchasing
certificates of State stock to be deposited with
The treasurer Of State, or with the bank Of O.
Lilo, nor shall any bank apply or permit to be
applied, hypothecated or pledged, any portion
Of its capital stock 10 the purchase of cerif-
Gates of State stock, to be deposited with the
Treasurer Of State, as collateral security for
the redemption of its notes Of circulation.
Section %. No bark shall, during the time
it shall continue its operations as a bank, with
draw or PERMIT it to be Withdrawn, either IN
form Of dividends, loans 10 stockholders for a
longer period Of time than four months, or in
any other manner, any portion Of its capital
stock; and If losses shall at any time have been
sustained by any bank, equal to or exceeding
its undivided profits then on hand, no dividends
shall be made, and no dividends shall ever be
made by any bank, while it shall continue its
banking operations 10 an amount greater than
its net offs then on Land, dedu:ting there
from its losses and bad and suspended debts;
and all debts due 10 bank, on which interest
is past, due and unpaid for a peri of six
months, unless the SAME shall be well secured,
and shall be in the process of collection, shall
be considered bad or suspended debts, with
in the meaning of this section.
Section "a. The directors Of each bank
shall, semi-annualy on The frst Monday Of
May and November, declare dividend of so
much of the net profits of the bank as they
shall judge expedient; and, on each dividend
day, the cashier shall make full, clear and
accurate statement of the condition Of The bank
as it shall be on that day, after declaring the
dividend, which shall be verified by the oath Of
the cashier, president, and a majority Of the
directors, and similar statements shall also be
made on the FIRST Monday of esch month, in
each year, which statements shall contain,
First-The amount of the capital stock &C.
tualIy paid in, and then remaining, as the cap
ital stock OF the bank
Secold-The amount Of the bills or notes Of
the bank then in circulation, specifying the a
mount of each denomination;
Third--The greatest amount of circulation
at any time since the making of the last previ-
GUS statement, as shall have been exhibited by
the weekly statements of the cashiers, specify
ing the time when the same occurred;
Fourth--The amount of balances and debts
of every kind due to the branches of the bank
Of Ohio, the amounts due to other banks of the
State, and the amounts due to banks not of this
State.
Fifth--The amount due to depositors;
Sixth--The total amount Of debts and liabil-
tiles of every description, and the greatest a
mount since the making Of the last previous
statement, specifying the time when the same
occurred
Seventh The total amount ofdividends decla-
red on the statement:
Eighth--The amount of gold and silver
coin and bullion belonging to such bank, and
in possession, at the time OF making the state
ment. designating the amount of each;
Ninth The amount subject to be drawn at
sight in gold and silver, then remaining on de.
pOsit with solvent specie paying banks or bank
ers, in the cities Of New York, Philadelphia,
Boston and Baltimore;
Tenth-The ntIhen on hand, Of bills or
notes, issued by branches Of the bank Of Ohio,
the amount issued by other banks Of this State
and the amount issued by banks not of this
State;
Eleventh-The amount of balances due from