The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1856-05-07

ers on account of money paid in, on cap
ital stock and dividends thereon.
SECTION 22. No bank shall either d.
rectly or indirectly, pledge, h~ypothecate
or exchange any of its notes of c%ircula.
tion for the purpose of procuring money,
to be paid in on its capital stock, or to
be used in its ordinary banking opera
%tions, or for the purpose of purchasing
certificates of state stock to be deposited
with the Treasurer of State, or with the
bank of Ohio; nor shall any bank apply
or permit to be applied, hypothecated or
pledged, any of it's capital stock to the
purchase of certificates of State stock, to
be deposited with the Treasurer of State,
as collateral security for the redemption
of it's notes of circulation.
SECTION %. No bank shall, during the
time it shall continue its operations as a
bank, withdraw or permit to be with
drawn, either in form of dividends, loans
to stockholders, for a longer period OF
time than four months, or in any other
manner, any portion of it's capital stock;
and if losses shall at any time have been
sustained by any bank, equal to or ex-
ceeding it's undivided profits then on
hand, no dividends shall be made, and no
dividend shall ever be made by any bank,
while it shall continue its banking oper-
atoms to an amount greater thar its net
profits then on hand deducting therefrom
its losses and bad and suspended debts |;
and all debts due to a bank, on which in
terest is past due and unpaid for a peri
cd of six months, unless the same shall
be well secured, and shall be in the pro-
cess of collection, shall be considered
bad or suspended debts, within the mean
ing of this section.
SECTION "a. The directors Of each
bank shall, semi-annually ON the first
Monday in May and November, declare
a dividend of so much of the net profits
of the bank as they shall judge expedi-
ent; and, on each dividend day, the
cashier shall make a full, clear and accu-
rate statement of the condition of the
bank as it shall be on that day, after de
claring the dividend, which shall be YER
flied by the oath of the cashier, president
and a majority of the directors; and SIM
lar statements shall also be made On the
first Monday in each month, in each year,
which statemtnts shall contain,
First-The amount Of the capital
stock actually paid in, and then remain
ing, as the capital stock of the bank;
Second-The amount of the bills CT
notes of the bank then in circulation,
specifying the mount of each denomina-
tion;
Third-The greatest amount in circu-
latiou at any time since the making of
the last previous statement, or shall have
been exhibited by the weekly statements
of the cashiers, specifying the times
when the same occurred;
Fourth-The amoun of balances and
debts of every kind due to the branches
Of the bank of Ohio, the amount due to
other banks not of this State;
Fifth-The amount due to depositors;
Sixth-The total amount of debts and
liabilities of every description, and the
greatest amount since the making of the
last previous statement, specifying the
time when the same occurred;
Seventh-The total amount of divi-
dends declared on this statement;
Eighth-The amount of gold and silver
coin and bullion belonging to such bank,
and in possession, at the time of making
the statement, designating the amount
of each;
Ninth-The amount subject to be
drawn at sight, in gold and silver, then
remaining on deposit with solvent spe-
Gle paying banks or bankers, in the cities
of New York, Philadelphia, Boston and
Baltimore;
Tenth-The amount then or hand, oil
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 branches of the bank of Ohio,
the amount due from other banks of this
State, and the amount due from banks
not of this State, excluding, in the latter
case, deposits in the cities of New York,
Philadelphia, Boston and Baltimore,
subject to sight drafts, payable in specie;
Twelfth-Ihe amount on hand of bills,
bonds, notes, and other evidences of
debts, discounted or purchased by the
bank, specifying particularly the amount
of suspended debt, the amount of consid-
cred bad, the amount considered doubt
full, and the amount in suit of judgment;
Thirteenth-The value of the real and
personal property, held for the convent
ence of the bank, specifying the amount
of each;
Four:eenth--The amount of real es-
tate taken in payment of debts due the
bank;
Fifteenth-The amount of the undi'
vided profits of the bank;
Sixteenth-The total amount of the
liabilities to the bank by the directors
thereof, collectively, specifying tho gross
amount of such liabilities as. principal
debtors, and the gross amount as endor-
sers or sureties;
Seventeenth--The total amount of
liabilities to the bank of the stockholders
thereof collectively, specifying the gross
amount of such liabilities as principal
debtors, and the gross amount as endor-
sers or sureties; which statement shall
be forthwith transmitted to the Auditor
of State.
An abstract of every such statement
showing the condition of the bank, shall
be Immediately published by the bank,
in some newspaperGTinted in the county
where such bank is Situated.
SECTION 25. The general assembly
shall never impose any greater tax upon
propertym eployed in banking under this
act, than is or may be imposed upon the
property of individuals.
ITO be Continued.)