The true Democrat., 1857-01-27

Be it enacted by the General Assembly of the State of Arkansas, as follows:
 SEc 1. All suits Tn chancery that may here after be brought to enforce payment of the stock bonds; or to foreclose the stock mortgages given to the Real Estate Bank of the State of Arkansas; or to protect or enforce the interests and rights of the holders of the bonds that were issued by the State to the Real Estate Bank, and were sold by the bank; or to protect and enforce the interests and rights of the State on account of her issuance of such bonds and her guarantee of their payment; or to protect and enforce the interests and rights of the re- ceiver of the assets of the Real Estate Bank, shall be brought, prosecuted and determined in the court of chancery established by the act to which this act is an amendment.
 SEC. 2. All suits that are undetermined and pending in the circuit courts, sitting in chancery in this State, that were brought by the Real Estate Bank, by the trustees thereof, or by the receiver of the assets of such bank or that were brought against the bank or its trustees, are hereby transferred to the court of chancery, mentioned in the foregoing section; and such court shall be taken to have and shall hereafter have the exclusive jurisdiction of such suits, and no other court shall hereafter try hear or preside over such suits, or in any way entertain jurisdiction thereof.
 SEC. 3. The clerks of the several circuit courts in which the suits that are mentioned in the preceding section, are pending, shall inn medately make out and certify correct tran scripts of all the orders and record entries that have been made in each case, and shall send such transcripts with the original papers of each case to the clerk of the chancery court held at the seat of government, who shall file the same in his office and place them upon the docket of cases for procedure and hearing in said court, according to law.
 SEC. 4. In the transmission of the original papers and transcripts, as provided for in the preceding section, the several clerks of the cir cult courts shall conform to the directions con- tained in the fourteenth section of chapter one hundred and sixty-seven of the Digest of the Statutes now in force, relative to change of venue And if any clerk shall fail to comply with the provisions of this act, compliance there with may be enforced by the chancery court, by rule or attachment or other legal and appro- prlate proceeding
 SEC. 5. All suits at law which the receiver of the assets of the Real Estate Bank may be obliged or advised to bring in the administra- tion of his trust, may be brought in the circuit court of the county in which is the seat of go- | defendants may reside elsewhere in the State, and although the property that may be the ob. ject of the suits may be situated in some other county.
 SEC 6. The clerks of the court of chancerv at the seat of government and of the circuit court of Pulaski county shall have power to issue all legal process in the suits begun in and transferred to their several courts by authority of thls act, and such process shall be directed to the proper othcer or person of the county where the defendant resides can be found, or where the property to be affected by the suit Is situated; and Ill the execution and return of such process, the officer or person to whom it shall be directed shall be answerable to the court issuing the same.
 SEC. z. When, under the provisions of this act any, decree or judgment shall be made or rendered in the courts of Publaski county against persons or property not within its terri toria jurisdiction, all authenticated script of the entry made in the judgment dock etas requr ed by law shall be immediately transmitted to the proper clerk in the county where the defend ant may reside, or may have real estate, or where the real estate sought to be affected by the de- cree or judgment is situated, and the clerk re- cciving such transcript shall at once file for re- cord, and shall record the same upon his own uOCkeI, ana SUCH lut9nellb or decree shall be lien upon real estate in the county where its transcript is filed as if the same had been made or rendered in that county--and such transcript may be filed, with like effect in every county in which the defendant to the de- cree or Judgment may own real estate
 SEC. 8. Any person who may have given any stock mortgage to the Real Estate Bank of the State of Arkansas or the representatives I/f la ,..l. redemption of the lands embraced in the mort gage by depositing with the State treasurer any bonds coupons that were issued by the State to the bank, and that were sold by the bank; and when such bonds and coupons shall have become payable, and a sufficient amount there of, with the interest accrued shall have been deposited to pay the amount of stock and ac- crued interest for which the lands were mort gagged, such depositor or his representatives shall be entitled to have the mortgage cancelled, and to hold and to have right to the lands free from any incumbrance on account of such mort gage, and such depositor or his representatives may apply to the court of chancery having ju- risdiction of the matter for confirmation of his title
 SEC. 9. The deposit with the treasurer of the bonds as provided for in the preceding sec ton shall not be taken as payment into the treasury of the State, and shall not work can- cellation or satisfaction of the bonds, but the treasurer shall hold them as a trustee for the depositor, for the State and for all parties con- cerned, and such bonds shall draw interest as other outstanding unredeemed bonds till final settlement of the stock debt, and satisfaction of the stock mortgage, as provided for in the foregoing section. And in such settlement, if there be any excess of bonds and interest, over the stock debt and interest, the depostor shall have such excess refunded to him. And on deposit of bonds and coupons as provided for the treasurer shall give to the depositor three certificates, describing the bonds and coupons de- posted, by whom, and against what lands de- posted, of which certificates one shall remain on file in the auditors office, one with the re- ceiver of the assets of the Real Estate Bank and one shall be retained by the depositor, and for receiving each deposit and giving certificates thereof, the treasurer shall receive three dol lars, to be paid by the depesitor.
 SEC. 10. The expense of the removal of the suits provided for in the second section of this act and that of filing in the proper counties copies of the judgment docket entries as pre- scribed in the seventh section of this act, shall not be taxed as costs in the cases, but shall be paid by the receiver of the assets of the Real State Bank out of such assets.
 SEC. II. The clerk ofthe chancery court, es- tablish by the act to which this is an amend ment, shali have the same fees that are allow ed by law to the clerk of the supreme court for similar services; and the sheriff of Pulaski county, shall have the same allowance for at tendance upon the chancery court, that he has by law for attendance upon the supreme court; and the contingent expenses of the chancerv court, and the fees of the clerk and sheriff that are not taxed as individual costs against parties litigant shall be audited and approved by the chancellor, and paid out of the State treasury; and sum sufficient to pay such expenses and fees is hereby appropriated thereto out of any moneys in the treasury, not otherwise appro- priated.
 SEC. 12. The chancellor of the chancery court mentioned in this act, shall receive the same salary as the judges of the supreme court