Meigs County telegraph. [volume] (Pomeroy [Ohio]) 1848-1859, 1857-05-19

court, after citing such bank toappear and
show cause why such writ should not is
sue, and upon the finding of jury that
such act of insolvency has been committed,
TO issue their writ commanding said bank
forthwith to proceed in the same manner
pointed out in the preceding sections of
this act, to provide for the payment of out
standing notes of such branch, close up its
affairs, and make application Of its assets
Sec. 16. That ifany branch'shall neg
lect or refuse to comply with any order of
the Bank of Ohio, requiring such branch
to reduce its circulation or other liabilities,
or to provide larger amount of specie or
other means, or to pay in its stock, or to
DO, or cease to do, any other matter, or
thing which said bank may deem necessary
for the security of such branch, or any
other branch or branches, said bank, or
any director thereof, acting for said bank,
may, apply to any judge of the supreme
court or court of common pleas, or any
judge of a superior court, or to any judge
of any court not inferior to the court Of
common pleas, by petition, in which the
Bank of Ohio shall be made petitioner, and
the branch implicated defendant, setting
forth the substance of such order, or or
deis. and such neglect or refusal, on the
pan of the branch, its officers or agents, to
comply herewith; and if the president,
vice president or any director of the bank,
shall make an affidavit Of the truth of the
facts therein stated, it shall be the duty Of
such Judge to allow an injunction, and TO
enioin such branch, its officers, agents, and
all others in its employ, or connected there
with, from doing, or suffering, or permit
ting to be done, any business whatever as
a bank, and from intermeddling with, or
in any manner disposing of, the books, pa
pers, money, chooses in action, assets, or
property of the branch, until the further
order of the supreme court, or some judge
thereof. A petition, reciting the proceed
ings had, shall be filed in the supreme
court at Columbus, as soon as injunction
is allowed.
SEC. II. Upon the allowances Of such
injunction, the property, credits, securi-
ties, aliens, and assets, of every description,
of such branch, shall forthwith vest in the
Bank of Ohio, who shall appoint a receiv-
er, to take possession of the same, as pro-
vided in the eleventh section of this act.
A certificate of appointment Of such re-
ceiver, by the judge, or court, or clerk
thereof, making the same, shall be suf1i-
cient authority to him to take possession
of the books, property and rights of every
description, of such branch, and shall be
full authority to the sheriff Of the county,
where the branch is located, to give such
receiver full possession of such books,
property and rights, with the aid of the
county, if required; and said bank and re-
ceiver shall be governed by the provisions
of this act, as provided in cases Of suspen-
sion and upon the dissolution Of such in
junction, or discontinuance of such suit
by the bank, all the rights and property of
such branch shall be restored to and vested
in said branch.
SEC. 18. The directors of tie Bank Of
Ohio, whenever hey may deem it expedi-
ent, may establish AN Office in each or oi
ther of the cities of New York, Cincin-
natl and Cleveland, for the receipt of de-
posts and redemption of the circulation
noucs of the branches, upon such terms as
they may, from time TO time, prescribe and
also clearing house at Columbus. They
may make all rules and regulations neces-
sary to the good management of such Off
ces and clearing house, require the several
branches to contribute to the capital of
such Offices, not exceeding five per cent. of
the stock paid in by each branch, and com
pei the branches to make their collections,
and deposits with said offices and to en-
ploy all such officers and agents as may
be necessary. The net profits of said Off
ces shall be divided among the branches
equitably. The office in New York, in
business at that place, may
take, reserve, and receive such rates of in
terest as is or may be lawful by the laws
of the State of New York, and no more.
SEC. 10. The Bank of Ohio, after es-
tablishing its agency in New York, shall,
when required by the proper officers of the
State of Ohio, discharge the duties of
transfer agent of the State, and receive and
disburse for the State all the moneys nee
essary to be received and disbursed in that
city, in the payment of the public debt and
interest thereon, without compensation or
charge for such service, and until such
shall be actually paid out for such
purpose or purposes; and said commits
olOllCIS, Slldl, IL bt''N NltCi1l uCCCoodl y,
take such good and sufficient security as
they may deem proper, to secure the repay
ment of said moneys, which shall be taken
in the name of the State of Ohio, and de-
posted in the Office of the Auditor of State.
BRANCH BANK.
SEC. 90 Natural persons, not less in
number than five, may associate and form
Branches of the Bank of Ohio, for the pur
pose of carrying on the business of bank
ng, each at such place in this State as
shall be designated in the certificate here
matter required TO be made, subject to the
restrictions, conditions and
liabilities prescribed in this act.
Sec. 81. Persons associating to form
4 branch shall, under their hands and seals |
make certificate, which shall specify,
First-The name assumed by such
and by which it shall be known in