Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1856-12-13

held on Saturday last. The committee ap
pointed at the last meeting to report on the
condition Of the Institution, submitted
statement from which we learn that the notes
in circulation have been reduced as follows:
Nov. 22 Notes in circulation, S724s69
Dec. g. ditto do. 552,41T
Reduction, Sl72,392
The assets of the Bank are reduced to o
similar amount.
The following plans we're submitted for the
resusctaton Of the Bank:
The first proposition was offered by MIR.
| Hester, who pledged himself to subscribe
for one hundred shares il his plan was
adopted. 1t is as follows:
We hereby agree to subscribe the number
of shares set opposite to our names respec-
lively, to renew the capital Of the LANCASTER
Bank, and pcy in the amount thereof at btiy
dollars per fnare on the first day Of April,
| 1851, in Lancaster Bank notes, checks of
depostors Of said bank or the present stock
thereof at So per share.
Mr.. II. A. Roland thought the plan was
objectionable and he submitted the following
as more feasible
Plan for RcsuScitoiing he Lancaster Bank
submitted to Ms Stockholders, Dec mber
9Th, 1856.
lst. The Stockholders shall advance 10
the. Bank, in the shape of loan. sum
equal to two.fifths OF the par value OF the
stock respectively held by them, (sny $50 on
each share) for which the Bank shall issue
certificates of deposit bearing interest from
the date Of the depssit ut the rate OF six pei
cent per annum, payable semi. annually. The
principal whereof shall be redeemable by the
Bank in five equal annual instalments, com
mencing on the lst of March, 1863.
I'd. The present depositors OF the Bahl
shall advance to it, in the shape Of u loan, {
sum equal 10 two.fiths of their respective
deposits upon which certificates shall b'
issued to them by the Bank, on the sam'
d. terms and Conditions with those issued 10 tb'
Stockholders.
3D. The Bank shall issue TO the presen
T depositors, certificates OF deposit for tb
whole amount respectively due to them, whcl
certificates shall be payable by the Bank il
five equaEanDual instruments without inter
: est, commefcing on the lst Of March, 1885
| 4th. Tie Bank shall issue the 1000 add
- tonal Shoe. Of stock allowed by its charter
: at the rate of $40 per share, subject an
u liable to the same advancement of $40 pc
share, upon the same condition proposed I
the present Stockholders.
r Provided that the present stockholder
1 shall be entitled to the refusal Of the sal
1000 additional shares in pro rata proportio
u TO the numbe: Of shares now held 10y thel
1t respectively, upon the terms proposed. An
Al in case Of their refusal or inability to acceI
. them, then the present depositors shall
entitled TO take them in proportion 10 II
7 amount of their present deposits; and OF
1t shares left over may be sold to any oth'
parties upon the same condition.
5th The Bank shall make application
" the Legislature for power to reduce its capt.
- to S240000, making the par value OF
'' shares $50.
These plans were discussed by sever
gentlemen, when. on motion of Dr. Atlt
they were referred 10 a committee consi'
vs. ing Of Messrs Hester, Roland, Reiga
Shirk, NJ llvane Konigmacher, Bear, Xii
j. and Brown, with instructions to report thel
"a on at an adjourned meeting to be held
noxt Saturday, tho 18th inot., at 10 o'cloi
a. 4. NJ.
tn Great confidence was expressed by [
,s, several speakers, in the ultimate resuscitati
re Of the Insttuton-L Intel.