The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1857-06-17
Fif.eenth-The amount of undivided

Fifteenth-The amount of undivided
profits of the branch;
Sixteenth-The total amount Of the IL
abilities to-the branch by the directors
thereof, collectively, specifying the gross
amount of such liabilities as principal
debtors, and tho gross amount as endors-
ers or sureties;
Seventeenth-The total amount Of La
bilities to the branch of the stockholders
thereof collectively, specifying the gross
amount of such liabilities as principal
debtors, and the gross amount as indoors
ers or sureties /; which statement shall be
forthwith transmitted to the Bank of
Ohio and Auditor of State.
An abstract of every such statement,
showing the condition of the branch, shall
be Immediately published by the branch
in some newspaper printed IN the county
where such branch is situated.
SEC. 80. The general assembly shall
never impose any greater tax upon prop
erty employed in banking under this act,
thar is or may be imposed upon the prop
erty of individuals.
SEC. 40. Every branch may take, re-
serve, receive and charge on any loan OF
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 moro: Provided, howev-
or, That interest may be reserved or taken
in advance at the time of making the loan
or discount, according to the usual rates
of banking, or as calculated in Rowlatt's
tables and the knowingly taking, reserv-
ing or charging any debt or demand dis
count or purchased by any branch, a rate
of interest greater than that allowed by
this section shall be held and adjudged a
forfeiture of such debt or demand, but the
purchase or discount of a bona ide bill of
exchange, or note payable at another
place than the place of such purchase or
discount, and the taking or reserving of
interest thereon at the rate aforesaid, from
the time of such purchase or discount, un-
not be held usurious, although exchange
on the place where it is made payable, is
at the time of such purchase or discount,
worth a premium nor shall the discount
or purchase of a bona fde bill or note,
payable at a place, between which and the
place of discount or purchase, exchange
is in favor Of the place of discount or pur-
chase, and the taking in addition to the
rate of interest aforesaid, the rate of ex-
change between such places, be deemed
usurious: Provided, That no loan to, OF
discount in favor of any director or stock
holder in which more than six per cent.
shall be taken, reserved or charged, shall
be forfeited, but the same shall be valid
against such party /: Provided further
That no more thar one half of one per
cent. shall be taken as exchange upon any
such paper payable in this State, and nc
more than one per cent. upon any such
paper payable out of this State, end 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 (inclu.
ding in the liabilities of any company OF
firm the liabilities of the several members
thereof to any branch as acceptor or &C.
ceptors of bona fde bills of exchange pay
able put of this State, shall at no time
exceed one fourth of the amount of the
notes which such branch is authorized tc
circulate, exclusively of liabilities as &C.
ceptor or acceptors, one teuth, and exclu.
sive of all liabilities in such bills of ex.
| change one twentieth part of the amount
of such notes.
No branch shall, at any time, pay on
on loans or discounts, or in purchasing Of
drafts or bill of exchange, or in payment
of depositors, nor shall it in any mode
put in circulatio on the notes of any banl
or banking company which notes shall no
at that time be receivable at par in pay
ment of debts, by the branches so paying
out or circulating such notes, nor shall il
knowingly pay out or put in circulation
any notes issued by any bank or banking
company which at the time of such pay.
ing out or putting in circulation is not re-
deeming its notes in gold and silver, no
any notes issued by any bank out of thi:
State. All notes, bills, and other eviden.
ces of debt, excepting bills of exchange
discounted by any branch, shall be made
by the terms thereof, or by special in.
dorsement, payable solely to suoh branch
and no such evidence of debt shall be as
signable except for collection, or for the
following purposes;
First-To pay and redeem the c~ircula-
ting notes of such branch;
Second-To pay other liabilities of sucl
branch and after such liabilities shall
have been discharged;
Third-To divide among the sharehold
ers on their stock.
No branch shall issue any certificate o
deposite, order, draft, bill of exchange, O.
other evidence of debt, payable in curren
cy or in anything of less value than golc
and silver coin, except receipts for specia
deposits ; nor shall any such branch keel
any accounts in currency or in anything
less valuable than gold and silver coin
except accounts of special deposits.
No branch, shall be permitted, in re.
ceiving payment at its banking house O.
other place than where the same was pay
able, of any note, bill, or other evidences
of debt, due to such branch, and payable
at a place other than at its banking house
to receive in addition to the amount o
such debt and the legal interest thereon
any sum whatsoever as premium, exchang
or damages /; Provided, Nothing in thi
section contained shall prevent sucl
branch from receiving the damages allow
ed by law upon any bona fde bill of ex
change, duly protested for non acceptance
or non payment.
Sec. ~. All transfers of notes, bonds
bills of exchange, and other evidences o
q -