Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1857-06-03
WHOLE NO. s1s2.

dividend, winch Snall Oe VeIlueQ Oy the oabn
of the cashier, president, and two of the di-
rectors; and similar statements shall also be
ma lie on the first Monday in each month in
each year, which statement shall contain.
First-The amount Of the capital stock ac-
tually paid in, and then remaining as the csPi-
tai stock of the branch.
Second-The amount of the bills or notes Of
the branch then in circulation, specifying the
amount of zach denomination;
Third-The greatest amount in circulation
at any time since the making Of the last pre-
vious statement, as shall have been exhibited
by the weekly statements Of the cashier, spec.
| living the time when the same occurred;
| Fourth-The amount of balances and debts
/ of every kind due to the branches of the Bank
/ of Ohio, the amonnt due to other banks Of the
State, and the amount due to banks not Of this
State;
Fiffh-The amount due to depositors:
Sixth-The total amount Of debts and la
bilities of every description, and the greatest
amount since the making Of the last previous
statement, specifying the time when the same
occurred, as exhibited by the weekly state
ment of the branch.
Seventh-The total amount ofdividends de-
clared on the day of making the statement;
Eigth-The amount of gold and silver coin
and bullion belonging to such branch, ana IN
possession at the time ofmakiEg the statement
Designating L0e amount OIL edCnt
/ NIBth-The amount subject to be drawn st
sight, in gold and silver, then remaining on
deposit with solvent specie paying banks in
the cities of New York, Philadelphia, Boston,
and Baltimore;
Tenth-The amount then on hand, Of 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 ofthis 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 BATH
more, subject to sight drafts, payable in sPe-
Gle;
Twelfth-The amount on h,nd os bills,
\ bonds. notes and other evidences of debts dis-
counted or purchased by the branch. specify
ing particularly the amount of suspended debt.
the amount considered bid the amount ccn-
sidered doubtful, and the amount in suit or
Judgment,
Thirteenth-The value of the real and per.
sonal property held for the convenience Ofthc
branch specifying the amount of each;
Fourteeuth-The amount Of real estate tax
en- in payment of debts due the branch;
Fifteenth-The amount of undivided profits
of the branch;
Sixteenth-The total amount Of the liabili-
ties to The branch by the directors thereof. col
lectively, specifying the gross amount of such
liabilities as principal debtors, and the gross
amount as endorsers or sureties;
/ Seventeenth-The total amount Of liabili-
ties to the branch Of the stockholders thsreOf
collectively, specifying the gross amount Of
such liabilities as principal debtors, aud the
/ gross amount a. indOrsers or sureties; which
statement shall be forthwith transmitted to
the Bank of Ohio and auditor Of State.
An abstract of every such statement. show
/ ing the condition The branch. sh-ll be im'as-
diately published by the branch in some news
paper printed in the county where such branch
| is situated.
SEC. 80. The general assembly shall never
impose any greater tax upon property employ
ed in banking under this Act, than is or may
be imposed upon the property Of individuals.
SEC. 40. Every branch may take. reserve,
receive and charge on any loan or discount
made, or upon any nOte, or bill of exchange,
or other evidence of debt, at the rate of six per
centum per annum on the amonnt of any such
note, bill of exchange, or other evidence OF
debt so discounted, and no more: Provided.
however. That interest may b. reserved or tak>
| ell in advance at the time of makin9 the loan
or discount. according to the usual rates of
] banking or as calculated in Rowlett's tables.
]
ing on any debt or demand discounted or
purchased BY any branch, rate of interest
/ greater than that allowed by this section shall
be held and adIud yed forfeiture of such debt
or demand, but the purchase or discount of 3
bona 6de bill Of exchange, OF note payable at
another place than the place Of such purchase
or discount, and the taking or reserving of in
/ terest thereon at the rate aforesaid, from the
/ time of such purchase or discount. until ths
L. ILL - -,
/ held usurious, although exchange on the place
where it is made payable, is at the time Of
such purchase or discount, worth a premium,
nor shall the discount or purchase OF bona
| fide bill or note, payable at place, between
/ which and the place of discount or purchase
exchange is in. favor Of the place of discounts or
purchase, and the taking in addition to the
I rate Of interest aforesaid, the rate Ofexchange
between such places, be deemed usurious'-
/ Provided, That no loan to, or discount in IA
/ vor of any director or stockholder in which
more than six per cent, shall be taken reserv-
| ed or charged, shall be forfeited, but the same
shall be valid against such party. Provided
further. That no more than One-half Of one
per cent, shall be taken aS exchange upon
any such paper payable in this state, and no
more than one per cent upon any such paper
payable out of this State and in no case shall
more than the current rate of exchange be-
tween such places be taken.
SEC. A.. The total liabilities Of any person,
or OF any company or firm (incl1diRg in the
! liabilities Of company or firm the liabilities
of thu several members thereof, ITO any branch
as acceptor or accePtOrs of bona fde bills Of
exchange payable out of this state, shall at no
time exceed one fourth of the amount Of the
notes which such branch is authorized to cir
culate, exclusively Of liabilities as accePtor
or acceptors, one-tenth, and exclusive Of all IL
abilities on such bills of exchange one twea-
tiefh part q { the amount Of such notes
no branch shall, at any time, pay out on
loans or discounts, or in purchasing OF drafts
or bills of exchange. or in payment of deposit
tors, nor shall 1t in any mode put in circpla>
tion the notes Of any bank or banking conpa-
Dy which notes shall not at that time be re-
ceivaole at par in payment OF debts, by the
branches so paying out or circulating such
notes, nor shall it knowingly pay out or put
in circulation any notes issued BY any bank
or banking company which at the time of such
paying out or putting in circulation ia not
redeeming its notes IN gold and silver. mar
any notes issued by any bank out Of this Stats
All notes, bills and other Evidences Of debt,
excepting bills of exchange discounted BY any
branch, shall be made by the terms thereof, or
BY special indorsement, pay able solely TO such
branch. and no such evidence Of debt shall be
assignabls except for collection, or for the fol-
lowing purposes:
First-To pay and redesn the circulating
notes Of ch branch;
Second-To pay other liabilities Of such
branch; and after such liabilities shall have
been discharged;
Third-To divide among the shareholders
on their stock.
No branch, shall issuean certificate Of de-
post, order, draft, bill Of exchange, or other
evidence Of debt, payable in currency or in
anything less valuable than gold and silver
coin, except receipts for special deposits; nor
shall any such branch keep any accounts in
currency or in anything less valuable than
gold and silver coin, except accounts Of spec
ial deposits.
No branch, shall be permitted, in receiving
payment at its banking house or other place
than where the same was payable. Of any note
ooscLUDxD on FOURTH PAGE.