Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1857-10-01

az 1rots II VA 10 potal oftbs ty and shs haze hss
-: .iS = ssss ' a. Is S q sS sssS SR nal 81 -
aEeaied arAd atherfoceeds 81 snch SEA and onda 80
=, .sos = ss :. a., y So to- o.y - sVSsd
that purpos bs pat q the sAs fond eeonng % ON
Sac s nanf y Ohio shall no, furnish TO any branel
ne espsi siOck q Ia bruseh sesualy psd IA asd At a.
roD.ssa S-TssssT -ssS ssss : 10 AZ On ts sri hun
dred thousand dollars any lesser amount o capital not
drsd thousand doArs part thsrOf han once and
she quarters the Ams1nt q slsh eAPAs over one sshas
81 a. mars Ones and bali the q such eApAl
over hundred thousand On the fourth hunded thousand
s%Ssst q ssh capital over hr. ausSrsd shoa.as and
any amount q capital ever ku ha1dred th0u.An aoss no
thousand NOr sha aid bank furnish any branch ercalanl
notes q any ohar denOmAtOn than Of one dollar Two
sr - an hana5s 80 ~ s 5as,s hs 10 sny branch
than per cent o. the amount shall be N note
dr each not more than 1--WE cent in no Of tive do
lar 1 than ten per cent In notes of three dollars
each tA,a fwsnty per shall be in noies OF al
gu al rrssr Eve inilan no, than any per cent
, - le..s .+E.. t1l1- tons under ten dollars.
50 n Il any branch % Bank Of Ohio shall refuse u
a. ts notes = GsircuatOn, Or any o them in gold q silver
a or me lawful curressy o. the Uned States on which pay
n ,ail be Irvuig dsnansd At its banking boeor Gus
nrI rlsos q doing banknE burness during usual oankn
hour b1Aeh shall be deemed % have ~ ~
iasoivrlsy and thereby all it, poPerty er -, IN and
liens and every alscpton shall rthNih ,.s' 1n | ~
be the prorsry credits scuFiss and assets Of the iA "
=
any branch has committed an act Of insolvency shah %
who sA make Immediate inquiry the truth Of such ior
and report thereon 10 the bank and 1.-THE bank sh
be satisfied from the report OF The committee s1cn osnI
with appoint suitable receiver receEer who snail I'M
mediate possession Of the books records moaey snoose
ton and property branch Of every descriptions and hold
the and benefit Of the other branches Of
Bank Of Ohio and the creditors Of the ng branch end
said Bank Ohio shall Immediately provide money and pae @
same In sueh solvent branch branches may be most e
veenoF purpose Of Ofrsdeomng the notes Of such falling
braneh shall give pnbie notice thereof in some newspaper
printed n the place where such falling branch s located and
also in newspaper Ofgsnsr circulation published At 70
SEC II Each solvent branch shall eOntrbute in the ratio
Of the circulation TO which entitled TO the necessary or
redeemng the notes Of the falling branch a provdee ns
may be remuneraed such contribution from the safety nnd
soon Is money sufficient be raised from that fund BY
sale hpOheeatOn Of the stock funds O other %
SEC Is The receiver or receivers appointed provided in
The ssysan sns ,s snI :, ono Or Executive Com
mite shall Judge sufficient and under the direction o. saa
convert It's Into money the money 50 made shall De P
piled: =
vanced by several branches for the redemton notes
and hills Of the nsvent branch and which may not have been
previously reimbursed from the safety fund
seoOndTo reimburse ell moneys advanced from the safety
fund other than moneys derived nom that portion Of the safety
fund furnished by the hin1 branch a..
ThrdTO the payment and discharge all the remaining la
Pourth-Ths residue shall be divided among the 'tOckhO
de Of the falling branch in proportion to the stock oy them
sSo IL Sny branch against which the Bank OfOhiO shall
Instituted proceedings account Of any supposed act o.
hy the eleventh section OF this aehal
deny having committed such Of insolvency such branch
may apply 10 any court Of compeent jurisdiction Tor writ o.
injunction said Bank Of Ohio TO suspend ell further proceed
ineN AGAINST such branch a. nsoyent bank and such
court citing said Bank Of Ohio 10 appear and show cause
SSS sSat s bsnch Ss. Al an times confined and st CON
nues redeem in gold and silver coin s notes OF
shall make order enoning the Bank Of Ohio from all iuree
proceedings against such branch account Ohe supposed ac
Of insolvency which such proceedings were instituted AND
hereupon all the property and assets Of such branch shall b
SIC is the Bank OHohIo shall any case fail toprOCeeC
In the prescribed in the foregoing sections Of this act
providing for tho payment Of the ouandng notes Of circulation
nd In closing the affairs Of any branch that shall hare com
md act Of insolvency the holder Of any OIL notes Cur
cuation or other creditor Of such branch may IN case
lawfully demanded and remains unpaid apply TO any court
competent Jurisdiction for lis writ commanding the Bank
Ohio proceed and II sh be the duty OF such court ate
citing such appear and show why such writ
should and upon the finding ofa jury that such act
insolvency been committed TO issue their writ
said bank forthwith proceed the pOnedOut In thu
proceeding sections Of this act to provide for the payment OF IN
outstanding notes such branch close mp Its aa and max
src I6 That II any branch shall neglect refuse to
ply with any order Of the bank oOno recurring ooh oane
ger amount ofpcce other means or to pay IN US sock or
do to do any other matter or thing which sa pan
may necessary for the security of such branch or
brauch branches said bank director thereoh acn
for said bank may apply to judge othe supreme court
court Of please any judge ola superior court or
aDy Judge Of any other court not ue the court Of e0mmc
pleas by petition In which the Bank ofOho shall be made pei
oner and tho branch implicated defendant setting forth tn
substance Of such order ORDERS and such neglect or refusal
on the part the branch Its officers or agents. comy there
with and if the president vice president any other director
the bank shall make aavIt othe truth ofthe facts there
stated sha b. the duty Of such judge to allow an injunction
and to enon such branch its officers agents and az others
it's employ connected Herewith from doing or suffering
permitting be DONE business whatever Is bank and IRON
inermeddng with In any disposng Of the books
papers money chooses In action assets or property OF tn
branch mill the rha order Of the supreme court som
judge thereof petition rectng the proceedings had shall b
Ned he siprnne court at Columbus as soon as injunction
ST. r. C,ou the allowance of such injunction the property
-is ecs ons 'nd asscts ofeveTy description. Of sucl
hrDh sa urhwh vest IN the bank ofNho who shall ap
7out sfer take possession Of the same as provided
r v2ah section ofth act certificate Of appointment
al r0cever by the judge court orelerk thereof makini
p me shall be sufficient authority to him to take possession
nooks property aud rights Of description Of sucl
and shall be full authority to the sheriff othe county
The branch located give such receiver full possession
Of hoo property aud rights with the aid Of the count
provsonso this act a. provided of supeusou
upon the dissolution Of such ainncton or discrimination
such sui y the hank all the right and property OF such branc
shall be r,st0rsi and vest in said branch
SEC IS The directors ofthe Bank of0hio whenever the
NAV dscm It cvpcdcn may establish an ofcs In each slte
Of cities ofNew York Cincinnati aud Cleveland for the n
cep, deposits and redemption Of the circulating notes Of III
upon such terms they may from time 70 tine pre-
scribe and ccarng house at Columbus They nay maxi
M rules and regulations necessary the good management
contribute the crpa Of such Offices not exceeding hse re
;
branches to mako their collections aud deposits with said oe
and employ all such aud officers be necessary
Tho net profits said Offices sa be divided among the branch
ds equaby The oo In New York In tranaactng business
that pa may take reserve aud eoeve such rate interest
may lawful BY the laws the State OfNew York. apd NJ
more .e.4
sru TO- The Bank Of Ohio, after establishing ita agency
New York shall whsu required by the proper oces Of the
State o0ho discharge the duties Of transfer aeu Of the State
DO received and disbursed that city in the payment Of the
pc debt and interest thereon without compensation charg
hr such service aud uu such moneys shall be actually pa
out for purpose purposes and said sha
they deem necessary take such good and sufceut security
hey may deem proper to the payment Of said moni
which shall b taken In the name state OF Vno and az
I poaited IN the once Of the Auditor Of State,
.. as nAANcH RANk. aa
SEC 90 SAtul person. not less In number than i've ma
carving on the busneUs Of banking each at such place
mis- State e. shall Be designated In the eerthAt hsFena
required 70 be made subject b the contingencies restrictions
conditions and liabilities prescribed In this act
SC a. Persons assOcatlnS 70 form branch shaa unde
ther hands seals make certificates which shall specify
FrstThe name resumed by such branch and By which
be kAownn lie dealings In which name shall be incu
ded the name Of the city, village town In which s hahh
ing operations shall be carried on
seeoaahe amount Of the capitd stock Of such branch an
the numhsr Of shares into which the Is divided
Thd-The name and place Of residence and the number
! shares held BY esch membeg Of the company
RouFthThe time when such company shall have been form
ed; 'r
which certificate shall be Acknowledged before Justice
shs notary public and shall be recorded BY the
c the county where branch 10 be established In boo
be Kept BY him for that purpose which sha at times du