The Perrysburg journal. [volume] (Perrysburg, Ohio) 1853-1861, 1857-07-09


q eater prop lrtinn to tie capital stock of ,ail
hraucn u i,y pI1 incs'ri at Va time ientln-
ing undiniiuish-d by loses ~ Withdrawn. thar
,he poporiOu her, matt specified. th u is to say:
On ihe ttst hundred thuu,ard dIllars, or any
lesser am unt of is capital, not m0'e than twice
ihc auiuuut Of sucl, capital Or the second hun
led thousand dollars or part thersof, not more
than opee and three quarters the amount Of such
capital over one hun red thousand. On the third
hundred thousand dollars. part thereof, not
more than one and half the amount OF such cap
ital over two hundred thousand. On tho fourth
bundled Thousand dollars, or part thereof, not
more than once and quarter the amount OF such
capital, over three hundred thousand; and, on
any amount Of capital four hundred thou
sand dollars. not more tha~ an amount equal to
such capital, over four hundad thousand
Nor shall said bank furnish to ang branch circu.
Eating notes of any other denomination than OF
one dollar, two dollars, three dollars, hye dollars
ten dollars twenty dollars, fifty dol ars, aud one
hundred dollars each; Of the notes furnished To
sny branch, not more than ten per cent Of the
amount shall be in notes Of one dollar each; rot
mo.c than five per cent. in notes OF two dollars
each; not more Than ten per cent in noes Of ihree
dollars each not more than twenty per cert. shall
he ia notes Of all denominations under five do
lars. not more than fifty per cent. la notes Of all
denominations under ten dollars.
Sec 10 lf any branch of the bank of Ohio
shall refuse to pny its notes of circulation, or any
Of them in gold or silver coin, or the lawful cur
rSuCy OF lhe L q teu y tteS, on WnlCN payment
shall be lawfully demanded Mt lis banking house
customary place OF doing banking business,
during usual banking hOurs, such branch shall b.
deem d to have committed an act Of insOI encv.
AMI thereupon all is properly, credits securities,
liens aud assets Of every description shall forth
with vest in and be the properly, credits sccur-
ties liens and assets Of the Sank Of Ohio for the
u es aud purposes decla ed in this act
Sec IL. The Bank of Ohio on recpiving informa.
tion that any branch has corum ted act OF in
soivency, shall forthwith appoint committee Of
one or more OF ia directors, or others who shall
make immediate i qnry into the truth Of such
Information and report thereon to the bank; and
if the bank shall he satisfied from the report of the
committee that such branch has suspended the
payment Of its notes in gold nj silver, it shall
forthwith appoint a s,itabe receiver receivers.
who ST. all take immediate possession of :he books,
records, money, chooses IN action, and property of
such branch, of ever desert rtOn, and no d the
same for the ibint use and benefit of the other
branches Of the Bank of o Iio, and The cred tors
OF the falling branch; an said Bank of ONO,
shall immed ately provide money and place the
same in such solvent branch or branches as may
be most convenient for the purpose # re ecming
the notes OF such failing branch, and shall give
public notice thereof ia some newspaper printed
in the place where such falling branch is located,
and also in some newspaper of general circulation
published at Columbus.
SEC. l2 Each solvent branch shall contribute,
fin the ratio of the circulation to which 1t is ent-
Ileu, 10 Ine sum necessary LOT nOLeS
of the failing branch provided in the preceding
section, un the requsiton of the Bunk Of o lio.
and may be renunerated for such contribution,
from the safety fund, as soon as money suffi lent
can be raised from that fund, by sale or hypJihe-
cation of the stock, funds, other securities bi
longing thereto
Sec 49, The receiver or receivers appointed as
provided in the eleventh sec ion, sEall be required
10 give hond in such sum and with such securities
the Bank OF Ohio, or Executive Committee,
shall judge sufficient, anl under the direction OF
said biHk sh il proceed to settle up the aft OF
such branch, and convert its asSe into money;
the money made sha,l be applied
Ftrst-fo reimburse all moneys which shall
have been advanced by the several branches, for
the redemption Of the notes and bills Of the in
solvent branch, and which may not hav- been
previously reimbu, sed from the safety fund
S.cond-To reimburse all moneys advanced
from the safety fund other than monevS derived
from that portion of the safety fund furnished By
the falling branch.
Thrd-To the payment aud discharge Of all
the mining linbl ties such branch: and
Fourh-The residue shall be divi led among
the stockholders of the failing branch, in propor-
tion to The stock by them respectively held
Sec IA. If any branch aya st which the Bank
of Ohio shall have in titutcd proceedings on lc-
count Of any supposed ac. OF Insolvency, pre-
scribe by ,he eleventh section of this act. shalt
deny having committed such act of Insolvency.
such branch may apply to any c"ult OF competent
jurisdiction for Il wit of injunction to said Bank
vi Ohio to suspend all further proceedings aEain~t
such branch an iu,Ulvent bank; aud such court,
after citing said Bank OF Oh o to appear and sh "
cause why such writ should not be granted, aud
after the find ug of jury that such bran h has at
all times continued, and still continues 10 redeem,
in gold and silver ,iu, ITS notes of circulttl1n,
shall make an order enjoui the Bank Of OiiO
from all further proceedings against such branch
on account OF the supposed act of iu~Oiveucy on
which proceeding, wee instituted and tharlup III
all tn" properly and assets of such branch shall be
restored to SdrrctOrs.
Sec l5 Ii the bank of Ohio shall, in any case,
fail to proceed in the manner pre,cr,hel in the
foregoing stctiU. of this act in providing Tor the
payment of the outstanding notes ~ circulation, !,
aud in closing the aft ,irs of any branch that sha |
have committed an at of insolvency, the holder
of any of it's noes of circulation, other creditor
Of such branch may, III case pas ment of such
notes of circulatiU or other claim ha, been
fusei when lawfully demlnded aud remains I'M
Isld, apply to any courC of compet"nt iurlsdition
for its writ, Commanding the B Tux of Iio 80 to
proceed; and it shall be the duty of su III cuurr,
after citing such bank to appear and show caI-e
why such writ should not .ssue, and upon the
finding OF Il jury that such act Of insolvency ha .
been commit ed. II issue their wit commanding =
SAID bank forthwith to proceed in the manner
poiut d oIt in the preceding sections of this act,
to provide for the payment of the Outstanding
notes of such branch, cl ,,e up ITS atf.Irs, aud
make application of its ass Is
Sec. q. hat ii any branch shall re 5lcct or re
fuse u comply with ny nrd-r # The Bank "f Ohio
requiring such branch To rrdu lis circulation or
other liabilities, or o provide Ia ger amount OF
specie or other meaus,ur To pay ~ its >tock Or tn
d., or cci use to do, any other matter or thing
which sad bank may deem necessary for the Sc
curty OF such brincr, or any other branch o.
branches said baik, or any director thereof act
ing fr SAID bunk, may apply to any iudg' Of the
supreme court or court OF common plea, or any
Judge of superior court, or to any JUICE OF any
other court t inferior to the court Of comm N
pleas. by petition, in Which the Bank uf Oaiu
shall be made petitioner nd the anch impli
Gated defendant, setting forth the sub ttnce OF
such order, or orders aud such neglect or eflsa'
the par of the branch its officers or agents 10
| comply herewith; aud ii the pres dent. vice
president or any director of the bank, snail make
a lavt of the truth Of the facts tnerein stated
shall be the duty of such judge to allow an in
melton, and to rmioin such branch, its officers
agents, and all hers in its employ or connected
Herewith, firm doing, or sulfar ring, or perml,tn4