The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1857-10-02

until The next annual election; and if. from
any cause, on election OF directors shall not
5e made at the time appointed, the branch
shall not for that cause be dissolved, b II an
election may be held on any subsequent
day, thirty days notice thereof having
been gwen in newspaper printed in the
county where The branch is located.
Skc. ~. Every branch authorized 10
carry on the bushes Of banking uuders this
act, shall be held and adjudged tu he body
corporate, with succession, for the term OF
twenty years from the date OF the certificate
OF association, AMI thereafter until its al.
fairs shall be closed; and by its corporate
name shall be competent to contact prose.
cute and defend actions OF every description
as iully as natural persons, aud process
against such branch may be served upon its
president or cashier or by leaving o copy
thereof at ITS usual place of business during
the usual business hours. Each of said
branches shall, during the term of twenty
years irom the date aforesaid, il SO long il
shall comply with the provisionso of thisact.
have power 10 loan money, buy. sell md dis.
count bills of exchange, notes, nnl nIl nth.
erwrltten evidences of debt, eScspt such as
1t shall be prohibited by this act from buy.
lns, selling or discounting; receive demos.
us; huy and sell gold aud silver coin and
Duilioni collect aud pay over money, and
transact all other business properly apper
tanning To banking, subject, however TO IN,
provisions und restrictions CONTAINED IN
inns act; may acquire, hold aud convey such
real estate as may be necessary to the con.
VCulent transaction OF its business, and no
more Out may, however acquite title to any
real estate pledged 10 secure any debt pre-.
vlOuSly contracted or purchased on mn ex.
ecu'ioh or order OF sale, to satisfy any Judge.
lheht or decree IN its iayor, or which shall
have been conveyed 10 il in payment of auy
previous debt, hut shall not hold any real
estate pledged 10 secure any debt previous.
ly contracted or purchased on an execution
or order VI sale 10 satisfy any judgement, OF
dvorSV ~ ito iavsr. ar -,L,s Ia IiaIi nave OceT
conveyed to 1t in payment Of any previou,
debt, but shall not hold ANY real estate 81
acquired longer than is Necessary to avoid 4
! loHJ ofnny part ofthe debt, interest and cost.
| lor the collection or security of which il
was acquired; but al any time befoTcseline
the same, upon being rendered by the last
prccedIngo owner, or hiSlegal representatives.
such sum rs shall be Necessary to save such
branch from loss OF any part Of the debt
interest, taxes, costs, and other necessary
charges for the collection or sucurity o'
which such real estate was acquired, snch
branch Shall release 10 such owner, hi,
legal representatives OF assigns, all its righ
title aud interest therein.
SEc. ~. No branch, shall, at any time
lssue0r have in circulation any note. drai
Dlll oi exchange, acceptance, certificate o
deposit, or other evidence Of debt which
from It's character or appearance, shall b,
calculated 10 circulate us mJnty, other thar
such notes OF circulation as are hy this oc
described, aud which such branch ls by Thu
act Authorized 10 issue for the purpose ol be
ing circulated as money.
So. -. Each branch shall receive ut par II
the uilitc or banking house of such branch it
payment OF debts duo at such branches fu
notes uI hand, bills uf exchange. or other c,i
dnnccs of dcDt. discounted or purchased hy, o
hclong'ng tn such branch. The uutnS or rrcula
tion issued by any olhor branch OF The Bank u
OHIO.
SGc. 35. Each branch shall, ut all times
have on hand, IN gold and silver coin, or thei
clnlvaciit, one e'halfnt least ofwhlch ShNll be 4
- IlI Hld sINur cO:u IN IT. ,'".i ,hc am ,ur
of Ts sun unHvsT'.,.i sSs> a .'tJnSh ApNInp di
whenever the amount Of iis outstanding note
oi circulation shall exceed the above name
proportion, no more of It's notes shall he pgi
olt, ar otherwise put IN circulation by sue
brai!ch, nor shall such branch Increase It's la
bilitiGs, by making ANY new Ian. or discounts
exchange, payable at 5 gh,, nor make any DIV
dGnd ui II, profits, untl tho required propot
tinn hotwcon It's Outstanding notes of c!rrali
ton, and gold and silver com, hr their CqIiv.i
lent un hand, shall he restored. Actual dcpo
Il, with ANY solvent bank. Ui established Gro
il, in the cities Nov York, Boston, phaiel
pima or BIumOrc, subject to bU drawn a,lhS
vt sight, payable Ia gold aud silver coin. shal
be deemed equivalent t. gold and silver con
wherever these terms are used IN this act.
S.C, 81. NJ branch orstniIition under thi
act shall, At any time h" Indebted, ar IN AM
WAY liable 10 IN am bunt exceeding two third
of its capital stock Al sarh time actually pnit
in. aud losses or otherwise except ON the I'll
lowing accnunts--tlTu is to Say:
ls,-on an account of its notes of circulation
Second -Ouaccuunt Of moneys hupuslted wit
or collected by such branch.
Third --OH account of bills ~ exchange q
drafts drawn against money actually On drpus
II To- tho credit "l, or duo 10 such branch.
Fourth-l.nbilites lofts stntkhnldcrS un nc
count of money paid in. on capital stock, div
dcnds thereon, AID undivided PROFITS.
Nor shall any branch, either directly or ii
directly, podce, hynotliocato nr exchange. an
! If It's n ties of circulation Tor the purpose .
procuring money, tobe paid on lis capital htorI
nor pcdgn or hypothecato directly or Indirect
~ any NJ such notes 10 be used In It's ordnnr.
banking operations,
sEr. 81. No branch shall, during tho time
shall continue its operations MS "A branch, with
draw or permit to be Withdrawn, either In luri
of dividends, loans tn stockholders. for alOnge
period ui umn than four months. or IN any dt!
crm inner any portions OF It's capital stack; au
| il lus,cS shall at any have been sustained b.
anV branch. equal io or exceeding ITS undiY
dcd profits then nn hand, no dividends shall b
made. and M dividend shall ever he m idr H.
any branch, while II shall continue ,tS bhuNin
operations, to an Am iunt grrilcr III IN IT. pro-
| its then Oh hlnt hcducting tlrrCirdn its H..
Md lnl aud -usl,tUlgl ltltfg 1rll ll ttsl,l
due to a branch, un which interest is past du
and unpaid for a period of SIX M 'ntlS, unlcs
| the same shall be vol secured and Shall be- 4
the prorc>S uf collection, Slnll hG cuhsdorr
hrd ur suspended debts, wItnin the moInns q
tAs section.
/ Ssa. 81 The directors ~ olch branch S'iAl
snmt.annuay ON the nrst Monday IN May an
NuVcmhcr, declare 4 diyidcli nt 81 m irh 9th
neL profits Of the hralch ~ They s1all JulS" .,
, pnllent: and. un each dlvidcdd day, the cds'
Ter, shall make a lli, rinlr ana nc iura'o ,l'
mrnt Or the condition Ol the branch aS I; shs
+ bo on that day. after duGlitns The dvldcut
which s,iln hG yur.lird hy ilc nlti nf TIM c.lSl
icr, president aud Iva ol tho directors; AMI ~
liar statements shall alsI TO made an the hrs
Mond " IN each M jnih OF OLcd year, wlIc
s.atcmoais shall Iu,ain:
First The ampua, OF capital stock actual
paid IN, aud then rcn lnins ~ 'Lr capital stnc
of the branch;
spcnnd-Thc amount Of tho bills ar notes q
the branch then IN clrculhiloni specifying III
amount OF each dcnom,dnuon; t..G'
Third The greatest am >unt In circulation a
any since tho HiilSlDS of the lal previous state
m;nt. as shalt have h1ca cxhlb.tCl bytlc week
Is statements OF uis. c.uslIur, sl'e ':Iyilis III
time when the siml Occurfcii
Fourth--rnc am bitnl Of balances and debts .
every Kind duo 10 tue branches of tho Bank ,
Ohio, tho amount d " Ia othor banks oi th
State; sHfF sHr.f 49,
Finh-Thc amount dle to the depos' llrS
Six,h-rhc toI,I an mat or dc'ta md Lab u
tics Of evcry descriptions. AMI ihe gro ,tps
amount since the mixing ~ thr Iast ps"viorl
Statonllui, spociiy,nS tho llAn wnuil Llc SHn
lo'currdd, asoShibitid By the weekly at,lGncl
OH &c brancni i.|.a.-..'. ..t..r
Seventh Tie total am 'unt 0f dlyidcrl. dc
4 cIaredpn ille day NJ ~ t'Sing tue statealcnt;
Elghth-Thc amount ui gold ald silver chi
md brlion belonging h such Oral,ch and !
posses don at the timo of making the stat,
m6nt, designating tho amount OF eanh;
Niuth+-The amount subject ", bo Drawn Z
sight, IN gold and silver, tllen remaining on d.
posit with solvent speyio paying banks IN tn
cities ol New York, Philadelphia, Boston M
Baltimore; ..i 80 ~ g.
Tonil,--Tbe amount then on hand, 81 bills G
| rotas ltsauad hv h brilnches of tho hank of Ohm