The Perrysburg journal. [volume] (Perrysburg, Ohio) 1853-1861, 1856-09-25
CDNTIsrED

C)NTts rED
Sic Al. The prosiden vice president and sec.
retry of the auk shall enc receive such c"Inpcn
satou for heir services rs aid tank slall allow.
which shall be assessed upou the several branche,
of the batk OF ohio. in the rati Uf heir capital
stock. The hank my also allow g. g executive
,mni te su u compen alton ~ 1t 'hi deem llst
AMI reasonable. to he paid 10y the 'cYclai branches
in the same uianaer and hrt ri ct' g. Of prOcur
ing pia O., and printing IN the ratu ui the notes OF
circulttioh tccef,, Il ~ each.
SLo ~. Each director uf h. b. hall coniin-
ne IN flee until The first Mod ~ uf February,
next aftui his aipuiltmcrt and uitil his successor
shall lie arpuiulrd aud qualified vacancies in the
buaid sLud be filed b, the branch ty " hich the
appointment vacated was made. lu voting. each
member shall he entitled To one vote. aud 10 one
nddit,unap yurr r,i Every fifty III usand dollas Of
hie arrJunt n capital >tucS paid III tr the nnch
represented by him ov r one hundr d thousand
dollars at the time of such v"t'ng. Tue president
aud vice prtsid ol the beard shall Told their Of
fees for one y,ar. aud until their successors -hal
be appointed, but they may be rem we'd by reso-
lutiun "f the board. The, hall takt m oath faith
fully. dligen ly and imi,ar'ia lv tn fulfill the du-
ties of hcir appointments and not knowingly yo-
late any of the provisions If thi- ac.. They may
he r. qiired to give bond IN such sun, and with
sueh securities a~ ,hc bank shall pI's,rba and all
vacancies Ia aid appointment, shall be filled by
the bank
SEc a. All notes issued by any branch, in
tended to circulue a. m incy, shdi be payable at
the bra ca by whth they are sued, in gold and
silver coin the lawful cure cy tf the United
states or either. Mt the option # the branch, on
demand they shalt he sig ed by the president or
vice president of tn. bank of Ohio, tountersign"d
by the cashier of the branch by which they are is
sued, made able 10 hcaler and shall be nego-
TABLE by delivery aud all other evidences of debt,
Issuel by any branch, shall be nogo liable or trans
ferrable in the same manner as If ISSUED by natu
IA perso1 !, aud shall be binding on the branch,
Whether under cal or not and all such evidences
Of debt, other han notes of cjrcula ion shall be
yayablG to the order Of some person tin rein named.
SEO Al, No bTauch Of the bank Of Ohio SHALL
At any time have Ia crcul t'n notes ia the simi.i
tn e of hA k notu-, to an am INT b-aiing greater
proportion to the capital stock of sad branch ac-
iutliy paid in and at the lime remaining urdt-
myni.hed by lus,es or Withdrawal, lhIu the FRO
PATTON hereinafter specified, that IS TO say in
the ii 81 hi ID cd tn ,u>and ID.ar,, orduy lesser
amount of ITS c.p'ial, not more than twice the
mo- mt IF such "a ital. on the second hundred
thousand dollars or art thereof, not more than
and thr, quarters the amount of such CAPT
tai, over one hundr d Thousand. On the third hun
dred thousand dollars, or pars Il ere not more
than once aud half he amount of such capital,
over two hundred thousand. On lh, fourth hun
dred thou.aad dollars, or part thereof not more
than once and quart the amount ul such call'a',
over tn zee hundred thousand a,d, on any amount
of capital over fuur hundred thousand dollars, not
more lhan an amount equal to such capital, over
four hundred thousand
SEC - Notes dr,i med for Cic.lfion shall
he delivered by the bank OF Ohio 10 each branch,
on written order s,gned lay the pr, sdcut AID a
majority of the directors Of such branch such or
durs sh Ill be carefully preserved by said bank in
MS Office an accurate uc u5ut Of all he notes so
delivered, the amount the notes OF each dcuom-
nation 50 delivered, aud the date of suci delivery
shall be kept by the bank ,f Ohio in book or
books, to be provided and kept in its Office at CO.
luubus all notes worn, dpiaccd or muilated, as
to be unfit for circui atIn shall be returned by the
branch by which they were issued to the bank, and
equa amount of new notes received therefor
all such notes 50 returned by branch shall be
credited, aud all new ones delivered in u ci: stead
shall be charged to such branch on the books of
said bank and the notes so returned shall he
burned to ashes in the presence Of he presto ent,
aud at least two of the directors Oi said bank.
Sc. 46. b, fore the bank shall deliver 10 any
branch notes for circulation, it shall require such
brahc to pay over deposit To the credit OF SAID
bank, said board shall order. either in money or
in certificates of the stocks of this state, of the
United atcs at their c1rreut value in the city of
New York, but in no INSTANCE above their par vul-
lie, amount equal to ten per cent ON the amount
of the for circulation which shall be deliver
ed to such branch. And so, from time to time, as
any branch may, by the paying III OF an addition
al amount ON its capital stock, o. by not having
received the amount of notes for circulation to
vh,ch it was previously entitled, be authorized to
demand an additional amount of notes for circula'
tiOn, such branch shall deposit with the bank ten
per cent, on the amount of notes so required and
the stocks aud ney deposited shall be de-
nominated the safely und, ana shall De invest
ed as hereinafter prescribed and held by the bank
as the property Of said branch, in trust for the
benefit of the several branches Of the hank OF Ohio
and as a fund for the redemption of the notes O
circulation of any one or more of said branches
that may fail to It deem its notes, to be applied
chat purpose in the manner pointeJ out by thi
act.
SIC. Al. All money so deposited or paid to tn,
ank account Of the safety fund 10y any branch
shall be, under the d ectun of said bank, invested
by such branch either in stocks of the state or o
the United States or in bonds secured by mort GA
ges uninCumhered real estate situate in tn
county where such branch is located, or in adjoin
ing counties, of at least twice the value in eacl
case Of the amount secured thereby, exclusive o
buildings or other fixtures subject to be dcstrOyCt
by fire by floods or other accidental occurrences
or of timber mines or minerals subject to waste
which bond shall be made pay able on demand e
the bank of Ohio, and shall bear such rate OF in
terest as shall be reed on by the parties, not eX
ceeding seven per cent. per aunum, payable semi
annually. Each branch shall be entitled to re
eeive the interest acCruing on the stocks or bord
in which its portion of the safety fund shall hay
b. en- invested and in case of the insolvency
any braLch the stocks and bonds in which tn
money of such bl anch shall ha been invested &
aforesaid, II the proceeds of such stock and bond
shall be sufficient to redeem its outstanding note
Of circulation, shall, far as practicable, be fir;
converted into money aud applied to III purpos
before any part Of the saf ty fund belonging
other branches shall be so piled.
SIC AZ. The stockholders collectively, of an
branch shall at no time be liable to such brnncl
either principal debtors sur,ties. or both
amount exceeding one third part Of the caplt
stock of such brauch, then actually paid in, az
remaining as capital stock ;nor sht'l the director
collectively, b so liable to amount excerdr
,ne-thrd part of The stock actually paid in, stan,
ing in their names and Of which they are collcc
lively the bona ide owners in their own right.
SIC 40. If any branch Of the bank Of Ohio sha
refuse to pay its notes Of circulation, or any
them in gold or silver coin If the lawful curreut
Of the United States on which payment shall
lawfully demanded at its banking house or Gu
tomary place Of doing banking business, duriI
banking hours, such anch shall be deemed
have committed an act Of Insolvency, and lhereu
on all its property, credits, secure'ic-, liens al
assets of every desert ,iti shall forthwith vest
and be the property, err ii'., curiJes, liens az
assets Of lhe bank Of Ohio, for ,hs uses and ufpu
es deca ed in his act.