The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1857-10-08

! notes OF such branch, close up It's affairs,
and make application of its sets.
SEC. l6. That if any branch shall
neglect or refuse to comply with any or
der 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 lis
stock, or to do. or 10 cease to do, any 9th
, er 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 70 any judge Of
r the supreme court or court of common
pleas, or any judge Of the 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
r petitioner. and the branch implicated de
, icndant. setting forth the substance oi
: such order, or orders and such neglect
, or refusal. on the part of the branch, its
! officers or agents, to comply herewith;
and if the president, vice president or any
: director OF the bank, shall make affiida
VT OF the truth Of the facts therein stated
1t shall be the duty Of such Judge 10 al
low an injunction, and to en]oin such
branch, its officers, agents, and all others
: in its einploy, or connected herewith
from doing, or suffering. or permitting tc
be done. any business what ever as q
bank, and from intermedling with, or ia
J any manner disposing of, the books. pa
perS, monty, chooses in action, assets, oi
property OF the branch, until the turtle,
order ot the supreme court. or some judy
, thereof A petition, reciting the procee
dlngs had, shal! be filed in the supreme
court of at Columbus. as soon as injunc
tion is allowed
Sec. IL. Upon the allowance of such
injunction, the property, credits. securi'
ties, hens, and assets, Of every descrip
tion of such branch, shall forthwith vesi
in the bank uf Ohio, who shall appoint q
receiver, TO take possession of the same
as provided in the eleventh section of this
act. A certificate of appointment of such
receiver, by the Judge, or court, or CLERK
thereof making the same, shall be suffi'
cient authority to him TO take possession
of the books. property, and rights Of ev
cry description, of such branch, anc
shall be full authority to the sheriff of the
County, where the branch is located, tC
give such receiver full possession of sucl
books, property and rights with the aid o
the county, if required; and said md
and receiver shall be governed by the pro
visions of this act, as provided in cases o
suspension; and upon the dissolution o
such injunction, or discontinuance o.
such suit by the bank, all the rights and
property OF such branch shall be restored
] TO and vest in said branch
SEC 10 The directors of the Banl
of Ohio. whenever they may deem it ex
pedien;, may establish an office in eacl
or either Of the cities of New York, Gin
. cinnati and Cleveland, for the receipt o
deposits, and redemption of the c!rcula
ting notes Of the branches, upon such
terms as they may, from time to time
prescribed, and also clearing house a
Columbus. They may make all rule.
and regulations necessary to the gooC
management of suchofices and clearing
house, require the several branches tc
contribute to the capital of such offices
not exceeding FIVE per cent. of the stool
paid in by each branch, aud compel th,
branches to make their collections and de
posts with said offices and to employ al
such officers and agents as may be neces
sary. The net profits of said Offices shal
be divided among the branches equita
bly,. The office In New York, in trans
acting busint SIS at that place, may take
reserve and receive such rate of interes
as is or may be lawful by the laws OF tht
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 o
the State OF Ohio, discharge the duties O
transfer agent of the State, and receive
and disburse for the State all moneys ne
) cessary to be received and disbursed ii
that city. in the payment of the public
debt and interest thereon, without com
pensation or charge for such service, ano
until such moneys shall be actually pat
out for such purpose er purposes; anc
said commissioners shall, if they deem
7 necessary, take such good and suficlea
! security as they may deem proper. to Sc
cure the repayment OF said moneys
: which shall be taken in the name of ths
State of Ohio. aud deposited in the Office
Of the Auditor Of State.
Branch Rank.
r SEC go. Natural persons, not less il
t number than five, may associate and form
: Branches of the Bank of Ohio, for tn,
: purpose of carrying on the business o
!, banking. each at such place in this Stat,
as shall be designated in the cert6cat,
u hereinafter required to be made, subjec
b to the contingencies. restrictions, condi
tions and liabilities prescribed in this &C.
It Sec. 2l. Persons associating TO form
d branch, shall, under their hards an,
! seals make certificate, which shall spec
g ily.
Il First-the name assumed By sue
branch, and by which it shall be know,
II in its dealings, in which name shall be in
II cluded the name Of the city, village Q
is town in which its banking operation
e shall be carried on;
n Second-The amount Of the capits
At stock of such branch and the number {
l. shares into which the same is divided;
L Third--The name and place of res
n dence and the number of shares held b
of each member Of the company;
L.