Lewistown gazette. [volume] (Lewistown, Pa.) 1843-1944, 1857-10-22
New Series---Vol. III, No. so.

! of the said bank to be forfeited, and the said
| bank shall be deprived of oil the benefits of
/ this act and the directors thereof shall forth
/ with make and execute an assignment, in the
manner provided by the act entitled :" An Act
regulating banks" approved the sixteenth
day of April, A. d., eighteen hundred and
| fifty, and the expenses of such commission,
including the compensation of the commits
sioners at eight dollars per day each, shall
be paid by the bank against which it is issued,
unless the report shall be favorable to its con-
ditien, in which case they shall be paid by
the applicants ProUtded, That no bank shall
be required to receive the notes of any bank
against which certificate may be made as
aforesaid, at any time after the delivery of
the same to the Governor, until the commits
sioners shall report in favor of such bank,
after which the notes of such bank shall
again be received as required by the provis-
ions of this section.
SEC. a. That the several collectors of taxes,
tolls and other revenues of the Common
wealth, and also county treasurers, are here
by authorized to receive for State purposes,
the notes Of the solvent banks of this Com
monwealth, though not specie paying banks,
/ in payment of the said taxes, tolls and reve-
nues; and the State treasurer is hereby au-
! thorized to receive and receipt for the same,
/ in the same manner as though said banks
were specie paying.
Sec. 5. That the deposits by the State trea
surer, or to the credit of the Commonwealth,
in the several banks and other corporations,
and all bank notes which are now or may
| hereafter be in the treasury during the period
of suspension aforesaid, shall from time to
| time, on demand of the said treasurer be
paid by the said banks or other corporations
respectively, in specie, in such amounts as
may be required by said treasurer, to enable
him to pay the interest accrulng en- the pub
lie loans of the Commonwealth.
Sec. 6. That upon all judgments hereto
fore entered, in suits commenced by writ or
otherwise, or which may be entered during
the period hereinbefore mentioned, in actions
instituted by writ or otherwise in any court
in this Commonwealth, or before any alder
man or justice of the peace, on judgments
obtained before said officers, if the defendant
| shall be possessed of any estate In fee simple
within the respective county, worth in the
opinion of the court, alderman or justice of
the peace, the amount of the said Judgment,
over and above all membranes, and the
amount exempted from levy and sale on exc
cution, he shall be entitled to a stay of exc
cutien thereon, on judgments now obtained
| or to be obtained, on suits now brought. for
| the term of one year from the date of the
| passage of this act, and on all others, for one
| year, to be computed from the first day of the
term to which the action was commenced
and every defendant in such judgment may
have the same stay of execution thereon, if
within thirty days from the passage of this
act, or within thirty days from the rendition
of any future judgment, he shall give securi-
ty to be approved of by the court or by
Judge thereof, or by such alderman or justice
of the peace, before whom such judgment
was obtained, for the sum recovered together
with the interest and costs: Porided, That
this section shall not apply to the wages of
labor, nor to debts upon which stay of exeeu-
| ton is expressly waived by the debters, nor
| to judgments upon which stay of execution
has already been taken under existing laws:
And froUided, That the provisions of this
section shall extend to judgments entered or
to be entered, as well upon bond and warrant
of attorney as upon mortgages to secure the
same, and to any subsequent grantee or own
ers of the premises so bound, as well as to
the original obligor or mortgagor; Prorided
| further, That said stay of execution shall not
apply to judgments or mortgages, or on bonds
secured by mortgage, unless the interest
thereon shall be paid within sixty days after
| the accruing of the same, In such funds as
the banks are authorized by this act to use.
Sec 7. This act shall take effect immedi-
ately, except the third sectisn, which shall
not 90 into operation until the provisions of
this act are accepted as herein provided but
no bank or other corporation shall be en-
braced within its provisions more than thirty
days after the passage hereof, or after any
bank shall have suspended specie payments
upon its notes ur obligations, unless the stock
holders sf such bank or other corporation
SHALL before the expiration of the said thirty
days, or within thirty days after any bank
shall have suspended specie payments upon
its notes or obligations, at meeting to be
called by the directors thereof for that pur-
pose, on ten days public notice, in one or
more newspapers, accept the provisions OF
this act by majority of votes OF said stock
holders, to be voted and counted according to
the provisions in the charter of such accept
ing bank or other corporation regulating the
election of directors, but to make such accep-
tance valid there shall be filed in the Office of
the Auditor General of this Commonwealth
certificate that this act has been duly accept
ed. under the common seal of such bank or
other corporation, attested by tie signature
of its President or Cashier; and each of the
said banks accepting the provisions of this
act shall also pay into the Treasury OF the
Commonwealth, on or before the first day of
January, Ammo Domini one thousand eight
hundred and 6fty-eight, or within thirty days
after any bank shall accept the provisions of
this act, sum equal to one-fourth OF one per
centum upen the capital stock of said bank
in addition to any amounts they are now by
law required to pay.
SIC. 8. That the forty seventh section of
the act approved April sixteenth, one thou
sand eight hundred and fifty, entitled " An
act regulating banks" be and the same is
hereby repealed: P'ouided, That all suits
, brought or now pending for forfeitures or
penalties under the section hereby repealed,
shall not be affected thereby.
SEC. 9. That the Legislature hereby re-
serves the right and power to alter, revoke OF
! annul the charters of any bank or oanks'
corporation or corporations, accepting the
provisions of this act, whenever IN their epin-