The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1857-06-04

discount made, or upon any note, or bill
Of exchange, or other evidence OF debt at
the rate OF six per cent. per annum on
the amount of any such note, bill OF eX-
change, or other evidence of debt SO dis
counted, and no more: Provided, how
ever, That interest may be reserved or Ia
ken in advance at the time of making the
loan or discount. according to the usual
rates of banking, or as calculated in Row
let's tables: and the knowingly taking.
reserving or charging on any debt or de-
mand discounted or purchased by any
branch rate of interest greater than that
allowed by this section shall be held ana
aJiudged forfeiture of such debt or qe-
mand, but the purchase or discount q
bona fide bill Of exchange, or note paya'
bic at another place than the place oi such
purchase or discount. and the taking OF
reserving of interest thereon at the rate
aforesaid, from the time Of such purchase
or discount, until the maturity of such blll
or note, shall not be held usurlous, al
though exchange on the place where IL Is
made payable, is at the time OF such pur-
chase or discount, worth premium; nor
shall the discount or purchase OF a bona
fide bill or note, payable at a place, be-
tween which and the place OF discount or
purchase, exchange is in favor OF the place
Of discount or purchase, aud the taking IN
addition to the rate Of interest," Aforesaid.
the rate ofexchange between such places,
be deemed usurious: Provided, That no
loan to, or discount in favor Of any direc-
tor an stockholdcr 10 which more ihan.six
per cent. shall be taken, reserved or
charged, shalt be forfeited, but the same
shall be valid against such party. Pro-
vided further: That no more than one
half Of one per cent. shall be taken as ex
change upon any such paper payable in
this State, and no more than one per cent,
upon any such paper payable out of this
State and in no case shall more than the
current rate of exchange between such
places be taken.
SEC. Al The total liabilities of any
person, or Of any company or firm [ (inciud-
ing in the liabilities of any person, OF Of
any company or firm the liabilities of the
several members thereof, to any branch
as acceptor or accept ,rs of bona tide bills OF
exchange payable out of this State, shall
at no time exceed one-fourth of the amount
Of the notes which such branch is author
lied TO circulate, exclusively of liabilities
as acceptor or acceptors, one-tenth, and
excIu sive OF all liabilities on such. bills OF
exchange one-twentietb part of the amount
Of such notes.
No branch shall, at any time, pay out
on loans or discounts, or in purchasing oil
drafts or bills of exchange, or in payment
of depositors, nor shall it in any mode put
in circulation the notes of any bank or
banking company which notes shall not
at that time be receivable at par in pay
ment Of debts, by the branches so paying
out or circulating such notes, nor shall it
knowingly pay out or put in circulation
any notes issued by any bank or banking
company which at the time of such paw.
ing out or putting in circulation is not re-
deeming its notes in gold and silver. nor
any notes issued by any bank out of this
State.
All notes, bills. and other evidences OF
debt, excepting bills OF exchange, dis
counted by any branch, shall be made by
the terms thereof. or by special .indorse.
ment, payable solely to such branch, and
no such evidence of debt shall be ASSIGN
able except for collection, or for the fol-
lowing purposes:
First-To pay and redeem the cireula-
ting notes of such branch;
Second-To pay other liabilities ofsucb
branch and after such liabilities shall
have been discharged;
Third-To divide among the share
holders on their stock.
No branch shall issue any certificate of
deposit, order. draft, bill of exchange. or
other evidence Of debt. payablein eurren-
cy or in anything less valuable than gold
and silver coin, except receipts for srecial
deposites; nor shall any such branch keen
any accounts in currency or in anythinr
less valuable than gold and silver coin
except accounts of special deposites.
No branch, shall BIZ permitted, in re-
ceiying payment at its banking house or
other place than where the same was pay
able, Of any note, bill, or other evidence
of debt, due to such branch, and naya-
bic at place other than at its banking
house, to receive in addition to the
amount OF such debt and the legal inter-
est due thereon, any sum whatsoever as
premium, exchange or damages: Proyi-
ded, nothing iD this section contained
shall prevent such branch from receiving
the damages allowed by law upon any
bona fde bill of exchange, duly protested
Cor non acceptance or non payment.
SEC. AZ. All transfers of notes. bonds.
bills of exchange, and other evidence Of
debtowing to any branch, or of deposites
toits credit; all assignments of mortgages
or other securities ON real estate, or of
Judgments or DEGREES in its favor; all de-
positss Of money, bullion or other yalu-
able thing for its use, or for the use OF
any of its stockholders or creditors. all
payments OF money to either, made after
the commission of an act of insolvency,
Or in the contemplation thereof, with a
view Rtc prevent the application of its as
sets IN the manner prescribed By this act
or~sth s view 20 the preference Of one
creditor t6 6another, except in payment of
its circulating notes. shall be held utterly
null and void.
SEC. 43. 1.-THE directors of anv branch
knowingly violate or knowingly permit
any of the officers, agents. or servants of
such branch to violate any of the pro-
ylsIens OF this act, all the rights, privi-
ieges and franchises Of such branch shall