The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1857-06-04

supreme court at Columbus, as soon as
injunction is allowed.
SEC. II. Upon the allowance of such
injunction, the property, credits, securi
ties, liens, and assets. of every descfip-
ton, of such branch, shall forthwith vest
in the Bank Of Ohio, who shall appoint a
receiver, to take possession of the same.
as provided in the eleventh section of this
act. A certificate of appointment Of such
receiver, by the judge, or court, or clerk
thereof, making the same, shall be suffi
cient authority to him to take possession
Of the books, property and rights of every
description, of such branch, and shall be
full authorityto the sheriff of the Coun-
ty, where the branch is located, TO give
such receiver full possession of such
books, property and rights with the aid ol
the county, if required; and said bank
and receiver shall be governed by the
provisions of this act, as provided in ca
ses of suspension and upon the dissolu-
ton of such injunction, or discontinus
ance of such suit by the bank, all the
rights and property Of such branch shall
be restored to aud vest in said branch.
SEC. 18. The directors Of the Bank
of Ohio, whenever they may deem it ex-
pedient, may establish an office in each
or either of the cities of New York, Gin
cinnati and Cleveland, for the receipt oil
deposits, and redemption of the circula-
ting notes of the branches, upon such
terms as they may, from time to time,
prescribe, and also clearing house al
Columbus. They may make all rules
and regulations necessary to the good
management of such offices and clearing
house, require the several branches 10
contribute to the capital of such OFFICES
not exceeding five per cent. of the stock
paid 10 by each branch, and compel the
branches TO make their collections andde
posits with said Offices and to employ al
such officers and agents as may be neces
sary- The net profits of said offices shall
be divided among the branches equita
bly,. The Office in New York, in trans
acting business at that place, may take
reserve and receive such rate of interes
as is or may be lawful by the laws of tht
State of New York, and no more.
/ SEC. 10. The Bank Of Ohio, after es
tablshing its agency in New York, shall,
when required by the proper officers o
the State Of Ohio, discharge the duties o
transfer agent of the State. and receiv.
and disburse for the State all moneys ne
cessary to be received and dsbursed ir
that city, in the payment of the public
debt and interest thereon, without com
pensation or charge for such service. ant
until such moneys shall be actually paie
TOUT for sach purpose eor purposes aat
: said commissioners shall, if they deem
necessary, take such good and sufficient
security as they may deem proper, to Sc
cure the repayment of said moneys
which shall be taken in the name of tn
State of Ohio and deposited in the offie
4 Of the Auditor of State.
BRANCH BANK.
SEC. 90. Natural persons, not less il
number than FIVE, may associate-and form
Branches Of the Bank of Ohio, for th
purpose of carrying on the business Q
banking, each at such place in this Stat
as shall be designated in the certi6cat
hereinafter required to be made, 'subjec
tions and liabilities prescribed in this act
SEC. 81. Persons associating to form
branch shall, under their hands am
seals make certificate, which shall spec
ify.
First-The name assumed by sucl
branch, and by which it shall be know
in its dealings, in which name shall be in
cluded the name of the city, village o
town in which its banking operation
shall be carried on;
Second-The amount Of the capita
stock of such branch and the number o
shares into which the same is divided
Third--The name and place of resi-
dence and the number of shares held b,
each member of the company
Fourth-The time when such conapa
ny shall have been formed;
Which certificate shall be acknowl
edged before justice of the peace or nc
{ tary public. and shall be recorded by th
: recorder Of the county where such branc
is to be established, in book to be kep
by hin, for that purpose, which shall
: all times during Office hours be kept ope
for the inspection of any person wishln
e to examine the same one copy of whic
;, = certificate, duly certified, shall be trans
mitted to the Secretary of State. VIII
:, shall record and carefully preserve Il
II same in his office, and another. to tt
: Bank Commissioner in this act name
u until the organization of the Bank OF Ohl'
II and thereafter to said bank.
1t SEC. 22. No branch shall be permi
Us ted to commence or carry on the buslne
J. of banking under this act, unless its car
y tai stock shall be at least one hundr'
ID thousand dollars, nor shall the capt.
s. stock of any such branch ever be increa
lg ed to exceed four hundred thousand dc
oil lars, except as specially provided. for
IN this act. Atleast fifty per cent.tof I
T. capital stock ofeach branch shall be pa
n in gold and silver coin, or their equiv
y lent one half of which fifty per cent.
Ill least shall be in gold and silver coin, al
n shall be in the actual possession a
o bona fide the property of the branch
ch the time of the commencement OF
ne . banking business, and at the place des
~ mated for carrying on such business. a
&c the remainder of the capital stock of su
H. branch shall be paid in, in installmen
ne each of at least ten per cent. on the VIII
o' amount of the capital subscribed, as f
70 quently as once in every four successi
-, months, from the time of com menci