The Tiffin tribune. [volume] (Tiffin, Ohio) 1848-1859, 1857-10-09

vuncud BY The several branches for c redemption nf the
have been previously reimbursed FROM tho safety iord
seconlqreimbure al money advaugrd honi the safety
fund.- other than moneys derived from that poron Of the
l safety fund furnished by the falling lranch.
1hrlro the payment and discofso of vi he remaining
Fourh-1hc residoe shsIho divided amoprthe tiochhod.
efi Of he ldig hch 20 prriion 70 'e 'ioek by uem
soc. H. IL any branch ssains which ne nant Of Ohio
shall have instituted r1cecdngs account Of any supposed
act Of insolvency. e prescribed by The elrvfslh Feion ui
Ibis shall deny having committed such oct Of Insolvency,
such branchm may Apply oeny conH 81 ceug"ul Juseo,'nn
for writ ofniuncon 70 said nank Of Ohio, To suspend el
and such court after citing .od henk o obo appear snd
show why such writ should not BE- rfancd md arf
the fudirg Of Jury that such branch has % a times CON
tinucd and still continues TO redeem n gold and silver cuu,
H. Of crcuaton, shall make order cuioniug The
a nh Of Ohio nom NJ further
rrscceinst ven instituted nd reieuon a the property,
End assets of such fauch sha b. respred rs directors.
see IS. ~ the Hant Of Ohio SHALL in nny casn ia
proceed In the nanuo prescribed In the foregoing sections Of
this act providing 0ftc payment Of tc onstuudnf noio
of circulation and in closing hc Affair. Of any branch that
shall hive committed Of insolvency, The holder OF any
M notes Of circulation, other creditor of such branch may
payment Of such notes Of circulation or other claim
has been refused when lawfully demanded, anil rcmnns un
paid, apply 10 any Of competent jurisdiction fo it
writ commanding The ank Of Ohio SO to priceeJ and u
shall be the duty Of such court amer citing such bank 10 ap
pear and show cause why such writ houI not ISSUE end
upon the finding OF Jury that such oct Of insolvency has
been committed 70 issue lherwnt commanding SAID bank
forthwith TO proceed In The manner pointed ontn The pre-
ceedng sections OF this act, % provide for The payment Of
he outstanding notes uftuchbranch, closeup W Affairs, and
Sec i6 Thatf ahy branch shall neglect orreuse to com
ply with any order Of the Hank Of Ohio, requiring such
branch reduce i circulation orohcr liabilities, 10 pro-
vide larfcr amount Of spcco other means pay
s stock, do any other matter thing which said
hank may deem II necos,nry for security Of such branch or
any ohrt hranch branches, said bank any director
heof uctng for said bank may amply any pot in
rior to the court Of common pleasby petition In which the
Bank Of OHIO shall be cpeuuonrr, and the branch impl
Gated defendant setting forth the substance Of such oef
orders and suchnegec rreiusa on The par Of he branch
its officers agents. comply hereWh and VI the presi.
dent vice PRESIDENT or any director Of the bank shall make
affidavit Of the truth OF the facts therein stated " shall be
the duty OF such Judge TO aow an 'nnc,on' and 10 elon
or connected herewith, frum doing sufetnro permit
ting be done, any business whatever o. bank and nom
incmcddliiug WITH oi IN any mauunr psnosiug Of book
papvrs money, chosen In actions assets property uf f
branch, uniile further orerof the supreme
judge thereof petition rociing the proceodnrs had, shall
be ded in the supreme cou. Columbus, as soon sniunc
See III Unon the allowance Of such Injunction Of III,
property, credits securities liens aud osset Of every de
scrpon of such bank shall forthwith vest In the Bank
Ohio who shall appoint TO take possession Of .
same provided In the eleventh section Of this act
certificate Of appointment Of such receiver by the Judge
couH CLERK hcrcof making the shall be suhcen
authority 10 him to take possession Of to books prop
cry, and rights OF evey description, OF such bran,N sel
be full authority TO tho sheriff Of the county WHERE th
branch located to give such receiver full possession
such books property and rights with the AID OF the county
II requcdi and said bank and receiver shall be governe
by The provisions Of this act provided In eases oi suspen
sion, and upon the dissolution Of such Injunction dis
continuance Of such suit by the bank al the rights and prop
rry Of such branch shall be restored to and vest In sa
branch.
Sec is. The directors OF the Bank Of Ohio, wheneyc
they deem tespedieni may establish an Office IN eao
either of the cities of New ork, Cincinnati aud Clete
land for tho receipt Of deposits and redemption of the eirou
ating Of the branches upon such terms they may
from Time 10 time presefhe and also clearing house at Ga
lrmbus. They may make MI rules and regulations
the good management Of such Offices md clearing house
require the several branches to conbue to the capital
such Offices exceeding five percent Of the stock paid b
y each branch and compel the branches 10 make their col
lecons and deposits with said offices and ocmpoy a sue
officers and agents may I've necessary The not profits
said offices shall be divided among the branches equitab,
The office in New York In Tnsactng hpsinessa that place
take, and receive such rnte of interest Is
may be lawfully the laws of the State of New York, an
n no more.
In New York, shall when required by the pfoper officers
the state Ohio discharge the duties Of transfer agent
the state aud receive and dhune for the state al money
necessary to be received aud ds6urfcd In that city, IN i
n nnymen Of the public debt and interest thereon, witho
i conf pensaton charge for said service, and until suo
moneys shall be actually paid out for such purpose pu
"a poses; and said commi onei SHALL II they deem
w, take such good and sufficient security they may dee
l. oc 10 secure the repayment of said moneys which sha
be taken IN the of The State OF Ohio and deposte
" in the office Of the Auditor Of state
Al BRANCH BANK.
Sec co. Natural persons, not lee IN number than ny
, may associate form branches Of the Bank of Ohio,
II the purposes of carrying the business Of banking each
Hereinafter required Ia be made, subject 20 the conngei
IS cie rs,trotons, conditions and liabilities prescribed Ia th
n act.
IS Sec. 9l Persons assooiatng form abUuch SHALT und,
therhands and seals make certificate, which shall spec
~ Frs-Ihe name assumed by the branch, and by which
shall be known In Is doalnEsi Ia which name shall be 4
cluded the Of the city village in which
If banking operations shall be eurrd oni
D. secondlhe amount Of the capitol stock Of uo brln'
aud the number of shareslnto which the same Is diydod
Thirl-Fhe name and place Of residence aud the numb
" | Of shares held by each member Of the company
/, FouHh-The time when such company shall have bee
N1h certificate shall he acknowledged before u,ti,
y Of he peace o notary public and shall be recorded by Il
recorder Of the coun.y where such branch Is to be esa
shsd IN book TO be ks ny nm PsTo.e' Mn',
shall at all times dur ng Office hours De Kept open "
ID inspection Of any person wishing so examine lhe sam
copy OF said certificate, duly certified, sha be iran
ied TO the Seerearyo OF state who shall record hnn car
fully preserve the sans In s otee and anotheio the ban
% Commit ssoner In this named, until 'he organization
n the Bank of Ohio and thereaflerto saidbahk'
d See. %. No branch shall be permitted to
carry business Of banking under this act, unless It's cap
ID stock be least hundred thousand dollars sha
e capital stock Of any such branch be increased 10
ceed four hundred thousand dollars, except a. specially pa
I'd vded by this act At least hy per cent OF the capit
s0ok Of branch shall be paid Ia gold and silver coin
their equivalents one'haf OF which my percent o. lea
o. shall be paid IN gold and silver coin, and shall be ~ aetn
possession and bona hde tho property OF the branch at
IN time Of the Of ts banking business amt
the place designated for carrying on such business ana
IN remainder Of the capital stock Of such branch shalt pa
instamen each Of a. least ten per cent on the who
amount Of capital subshbed, frequently In
ln four successive mouth, from the time Of commencing bu,
M until the whole amount Of such capital shall De paid
n Provided that the directors of the Bank of Ohio ma
&c the time ioFthe payment Of such deferred nstallmeu
I'd any part of the to he branches, when satisfied that
q public Interest does not require them to paid frequent
Of Sec. %. any shareholder or his assignee sha
N fail 10 pay any installment on his stock whe
si the same shall be required 70 be paid the branc
81 may sell such stock st public auction. having g
ny en- three weeks previous notice thereof, in
ed newspaper Published in the connty where d
M branch IS located, TO any psrsoG Who will pay q
~ highest price therefor, not less than the amou
ss unpaid thereon, end the excess, " any. alter pa
hy ing the expenses Of the sale, shall be refunded
Of the delinquent siockhoder. Ifno bidder can
found who will pay for such stock the anou
te unpaid thereon 20 the branch, and co
tl- Of advertisement and sale the amount pr
On gioutly paid shall be forfeited % the hraHc
% and such stock may be subsequs sutly sold ia ses
TO manner az the branch may order.
its Sec. "a. No branch shall be organized unt'
ip- this act, IN the county Of Hamilton, with le
f, capital than five hundred thousand dollars while
40 may be Increased to aay sum not exceeding Of
IA, million OF dollars.
II. Nor in either Of the counties Of Cuyahoga
or Lucas, with capital less than three hundre
nh Thousand dollars, nor "a either Of the ccunties
lk Franklin or Montgomery, with a capital less tha
y. two hundred Thousand dollnrs, which may be Il
.le creased 20 any sum not exceeding six hundre
ON Thousand dollars.
y Sec. Is. AnV existing Independent bank ,banl
for 10y company branch ofthe State Bank Of Ol 10.
free bank, created by the laws Of this state an
m authorized 10 issue notes for circulation, may, 3
~ ter the organlzaiioh Of the Bank OF Ohio, becon
.il a branch Of the Bank Of Ohio, upon full compl
auca with all the reQuiBiions OF this act neceaa