The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1857-10-01
UPPER sANDUsKY, OHIO, THURSDAY OCTOBER 1851

the expenses procuring plates and prin
i. ing notes OF circulation shall be paid b
/ the several branches, in the ratio of th
f notes of circulation shall be paid by th
several branches, in the ratio of the note
, Of circulation shall be paid by the sever
: al branches, in the ratio OF the notes e
e circulation, received BY each.
SEC 5. Each director of bank shal
continre in office until the first Monda
of February, next after his appointment
r and until his successor shall be appointed
and qualified; vacancies in the boart
shall be filled by the branch by which th
appointment vacated was made. In vo
ting, each member shall be entitled t
two votes, and to one additional vote fol
every fifty thousand dollars of the amour
of capital stock paid into the branch rep
resented by him over one hundred thous
and dollars, at the time of such voting
The president and vice president of the
bank shall hold their offices for one year
and until their successors shall be appoin
ted, but they may be removed by reso
luton of the board. They and all other
officers and agents, of the bank shall take
an oath faithfully, diligently and impair
.ially 10 fulfill the duties of their appoint
ments and not knowingly violate any OF
the provisions of this act. They may be
required to give bond in such sum. and
with such securities as the bank shall pre-
scribe; all vacancies in said appointments
shall be filled by the bank.
SEC. g. All notes designed for circu-
lation 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 countersigned by
some ptrson or persons authorized to
countersign the same as register, and
full record Of such numbering and coun-
tersigning made in book provided for
that purpose, and all such notes shall
have stamped or printed on their face, the
words Registered by the Bank Of Ohio" ="
All notes SO worn, defaced or mutilated,
as to be unfit for circulation. shall be re-
turned by the branch by which they were
issued to the bank, and an equal amount
OF new notes received therefor; all s.ch
notes so returned by branch, shall be
credited, and all new ones delivered in
their stead shall be charged to such
branch on the books of said bank; and
lie notes SO returned shall be burned to
ashes IN the presence of the president or
vice pr sident, and at least two of the di
'ectors Of said bank
SEC 7. Before the bank shall deliver
o any branch, notes for circulation, it
shall require such branch to pay over or
ieposi To TIE credit of such bank, as
and bank shall order, either in money or
n certificates of the stocks Of this State,
'roi the United States, at their current
,alue IN the city of New York, but in no
Instance abo&e their par value, an amount
,qual 70 len per cent. on the amount of
Iotes toE circulation which shall be deliv-
red to such branch. And so, from time
Q time, as any branch may, by the pay
nS OF an adultionaLamount on it's capital
took, or by not having receivvd the a.
Mount OF notes FOR circulation to which it
vas previously entitled, receive an addi-
lonai amount OF notes for circulation,
uch branch shall deposit with the bank
en- per cent. on the amount of notes SO
eceiVed; an1 the stocks and money SO
posted shall be denominated the "safe-
y iun'!," and shall be invested as here ,
natter prescribed, and held by the bank
$ the property of said branch, in trust :
or the benefit of the several branches of
be Badk Cf Ohio, and as fund for the /.
exemption of the notes of circulation of ,
ny one or more OF said branches that +;
1ay tail to redeem its notes, to be ap-
lied to that purposein the manner pom ,
I'd out by this act. ,
Sec. 8. All money so deposited or :
AID to the bank on account of the safety }
md, by any branch, shall be under the
lrecflon OF said bank, invested by such
ranch eRherin stocks of the State or of ;
le United States, or in bonds secured by
Mortgages on un encumbered real estate q
tuae In the county, where such branch +
located, or in adjoining counties, of at
ast twice the value in each case of the
mount secured thereby, exclusive of Et
uildlngs or other fixtures subject TO be =
estroyed by fire, floods or other acci- .
entail occurrences, or of timber, mines e
minerals subject to waste; which bond b
latl be made payable on demand to the $
ank OF Ohio, and shall bear such rates c
interest as shall be agreed on. by the Il
arties' not exceeding six per cent. per f
hnum, payable semi annually in advance a
ach branch sh& be entitled to receive i
le interest &cruing on the stocks or a
onds IN which lis portion of the eafety b
IND Shall have been invested; and in Ir
ase ol the insolvency Of any branch, the t
ocks and bonds in which the money of il
ich branch shall have been invested as d
oresaid, if the proceeds Of such stock f
I'd bonds shall be sufficient to redeem q
outstanding notes Of circulation, shall, e
tar as practicable, be first converted S
to money and applied to that purpose a
7lore any part of the safety fund be- If
n8lng to other branches shall be SO an D
led. P :
SEC. 9. The Bank of Ohio shall NOT
rnlsh any branch circulating notes to an II
mount bearing greater proportion to D
e capital stock of said branch actually a.
nd IN, and at the time remaining undi. o,
lnlshed by losses1or Withdrawal. than cl
e proportion, hereinafter stated specified 81
at Is to say: On the first hundred c,
ouSand dollars, or any lesser amount la
its "a nil al rDt 4, =. .---r = =