The Tiffin tribune. [volume] (Tiffin, Ohio) 1848-1859, 1857-05-22


ton by the branches, shall be furnished
by the Bank Of Ohio, but no such notes
shall be delivered to any branch until
they are numbered and c0untersigned by
some person or persons authorized t.
lcCuntersign the same as register, and
a foil record of such numbering and eosn.
ltersigning made in a book provided for
that purpose, and all such notes shall
have stamped or printed on their face,
the words "Registered by the Bank oI
Ohio" All notes so worn, deiaced. OF
ihutilated as to be unfit for circulation
shall be returaod bN The branch by which
they were issued to the hagk, aud an O.
gGdi amount ofnew notes received there
for; all such note 80 returned by a branch,
shall be credited, and new ones delivered
/ in their stead shall be charged to such
branch on the books of said bank; aud
the notes so returned shall be burned to
ashes in the presence of the president or
vice president, and at least two Of the
directors Of said bank.
Sec. Z. Before the bank shall deliver To
any branch notes for circulation. il shall
require such bank to pay over or deposit
to the credit OF said bank, as said bank
shall order, either in money or in certiii.
Gates of the stocks of this State, or of the
United States, at their curren. value in
the city OF New York, but in no instance
above their par value, an amount equal
! to ten per cent, on the amount Of the
notes for circulation which shall be de-
4 livered to such branch And so, from
time to time, as any branch may, by the
paying in oian additional amount on its
capital stock, or by not having received
the amount Of notes for circulation to
which il was previously entitled, receive
an additional amount OF noles for circu-
latiou, such branch shall deposit with the
bank ten per cent on the amount Of notes
80 received and the stocks and money 30
deposited shall be dcnominated the safe.
~ lund. and shall be invested as herein.
after prescribed; and held by the bank as
the property Of said branch, in trust for
the benefit of the several branches Of the
Bank ol Ohio, and as fund for the re-
demption of the notes Of circulation Of
any one or more of said branches that
may fail to redeem its notes, to be ap-
piled to that purpose in the manner point
Cd out by this act.
Sec. 8. Allmoney 50 deposited orpaid
to the bank on account OF the safety fund,
by any branch, shall be- under the direc.
lion OF said bank, invested by such branch
either in stocks Of the State or Of the
United States, or in bonds secured by
mortgages on unincumbered real estate
situate in the county where such branch
is located, or in adjoining counties, of at
least twice the value in each case Of the
amonnt secured thereby, exclusive Of
! buildings or other fixtures subject to be
destroyed by fire, floods or other accden.
tal occurrences, or OF timber, mines or
minerals subject to waste; which bond
shall be made payable on demand to the
Bank Of Ohio, aud shall bear such rate
of interest as shall be agreed on by the
! parties, not exceeding six per cent, per
annum, payable semi-annually in I'D.
vance. Each branch shall be entitled to
receive the interest aocruing on the stocks
or bonds in which its portion Of the safe
~ fund shall have been invested; and m
case of the Insolvency of any branch, the
stocks and bonds in which the money Of
such branch shall have been invested a.
aforesaid, il the proceeds of such stock
and bonds shall be sufficient to redeem
It's outstanding notes OF circulation, shall,
as far as practicable, be first converted
into money and applied to that purpose
before any part Of the safety fund belong
ing to other branches shall be so appli-
ed
See. 8, The Bank Of Ohio shall not
furnish TO any branch circulating notes to
an amount bearing greater proportion
to the capital stock of said branch actu.
ally paid in, and at the time remaining
undminished by losses or withdrawal,
than the proportion hereinafter specified,
that is to say; On the first hundred thou
sand dollars, or any lesser amount Of its
capital, not more than twice the amount
oil such capital. On the second bundrei
thousand dollars or part thereof, not more
I than once and three quarters the amount
Of such capital, over one hundred thou
sand. On the third hundred thousant
/ dollars, or part thereof, not more thar
once an a hall tho amount OF snel, cap-
ital, over two hundred thousand. On tho
fourth hundred thousand dollars, or part
thereof, not more than once an quurto
the amount Of sneh capital, over thrc,
hundred thousand; and, on any amoun
of capital over four hundred .housano
dollars, not moro than an amount equa
10 such capital, over four hundred thon
sand. Nor shall said bank furnish to an.
branch circulating notes Of any other de
nomination tnap of one dollar, two dol
iars, thyee dollars. five dollars, ten dol
lars, twenty dollars, fifty dollars, and on
hundred dollars Oachg Of the notes lurn
i isbed 10 any branch, not more than tel
per cent, af the amount shal bd in on
dollar each not more than five per cen
, in two dollars each; not more than te
: per cent in notes Of three dollars each
not more than twenty per cent shall be i
Euoter of all denominations under five dol
lars not more than fifty per cent shall b
!. in notc5 Of all denominations under te
: dollars.
!, Sec. 10. If any branch Of the bank {