Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1856-02-28

/ BILL TO RE-cHARTRR THE BANK OF VIRGINIA.
/ Be itenacted by the General Assembly of Yir-
gfnia, That the charter Of the BSnk of piirginia
be and is hereby extended from the first day of
! April eighteen hundred and ffty-seyen, for six
! teen wears; aud the bank is hereby invested
with all the rights, powers and privileges con-
! ferred and made subject to all the rules regu-
ilations and restrictions imposed by the seth,
9th and 18th chapters ofthe Code of Virginia,
and the act entitled an act 70. amend the, 10th
section Of chapter 81 of the Code of Virgins,
| passed April o. 1858, so far as the same may be
applicable to Banks of circulation.
The notes of the several banks of this State
received in payment of the Public Revenue ex-
| cept the notes Of this bank, the Farmers Bank
of Virginia and the Exchange Bank Of Virginia
and the branches of said banks, shall not be re
deemed by the deposite banks in specie before
the expiration of fteendays after such dcposite.
Should either of the deposite banks refuse to
receive on deposite the notes of any specie pay
ing bank, the Governor of the Commonwealth,
upon written notice thereof from the Treasurer
of the State, shall direct the removal of the de-
| posite from such bank, and have them deposited
| in another bank.
| The loans and discount of chlBranch shall
be so regulated that theyshall not at any branch
exceed twice the capital of the branch.
| The total amount 1.-THE paper circulation of q
branch ofthis bank shall never exceed five times
I the amount Of the coin in possession of such
branch, and actually the property of tue bank.
The bank shall give no certificate of deposite
draft or other evidence of debt, which is not pay
able in specie.
| 1t shall be the duty of every branch of the
bank, which is now or may hereafter be author
lied by law, t9redeem on demand all circulate. g
notes issued by said branches, or payable by
such branch, which may be presented for pay
ment at the Office of the bank, in the city OF
| Richmond, at rate of discount not exceeding 1
| of per cent; aud for failure to redeem the same
1the holder thereof may recover the same dam
ages and in the same way now provided by law
for failure TO pay IN specie at the office bank
where payable; provided that the mother bank,
/ at Richmond, shall not pay by way of a loan or
discount, any note which is not payable and
redeemable in specie, at par, at its own coun-
ter.
| Every quarterly statement of the bank shall,
in addition to the information which the code OF
| Virginia requires to be made, also, exhibit the
aggregate debt due to such bank; its discounts
of inland and foreign bills of exchange; sloans
to directors: its specie circulation and deposits
on the first day Of each month of the quarter it
embraces.
Itshall be the duty ofthe cashier ofthe bank
at Richmond and of the cashiers ofeach of the
branches TO cause an abstract to be madeon the
| Monday forenoon of every week, which shall ex-
hibit the aggregate amount ofloans and discounts,
circulation, specie and deposites of the bank on
the preceding Saturday; the abstract shall be
promptly written in book to be kept for the
purpose, which book shall be kept upon the
counter, open to general inspection and may be
copied from by any individual
The bank shall not issue or pay out any note
for circulation except ofthe denomination of five
dollars, ten dollars, or of some multiple of ten
This act shall commence and be in force from
and after the time when its provisions shall have
before the first day of February next, and such
approval shall have been made and certified by
the President and Cashier of said bank under
its corporate seal to the Governor of this Com
monwealth.