Preble County Democrat. [volume] (Eaton, Ohio) 1857-1859, 1857-05-21

provide for the paymeas9f the out
standing notes of such bzanch, close up
its affairs, and make appeleation of its
assets. Aa
SEC. IS. That if am ranch shall
neglect or refuse to COMPLY with any
order of the Bank of Qh5o, requiring
such branch to reduce itseirculation or
other liabilities, or to prd2lde larger
amount of specie or othet means, or to
pay in its stock, or to do, cease to do,
any other matter, or thlfg which said
bank may deem .necessal for. the. Sc,
curity of such branch: 'is:sss2iiiiEla
branch -s-orss Bra sfcfsses; is.ssd 6anE or
amy director thereof, acting for said
bank, may apply to any judge of the
Supreme Court or Court of Common
Pleas, or any judge of superior court,
or to any judge of any other court not
| inferior to the Court of Common Pleas,
by petition, in which the Bank of Ohio
shall be made petitioner, and the branch
implicated defendant, setting forth the
substance of 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 affidavit Of the truth
of the facts therein stated, 1t shall be
the duty of such judge to allow an in
junction, and to enjoin such branch, its
officers agents, and all others in its en-
ploy, or connected Herewith, from do
ing, or suffering, or permitting to be
done, any business whatever as bank,
| and from intermedling with, or in any
manner disposing of, the books, papers,
money, chooses in action, assets or pro
perty of the branch, until the further
order of the Supreme Court, or judge
thereof \ petition, reciting the pro-
ceedings had, shall be filed in the Su-
prcme Court at Columbus, as soon as
injunction is allowed.
SEC. II. Upon the allowance of such
injunction the property, credits, securi-
ties, liens, and assets, OF every descrip-
ton, of such branch, shall forthwith
vest in the Bank of Ohio, who shall ap-
point a receiver, to take possession of
the same. as provided in the eleventh
section of this act A certificate of ap-
pointment of such receiver hS the jndge,
or court, or clerk thereof, aking the
same, shall be sufficient authority to
him to take possession Of ,the books.
property and rights OF every description
of such branch, and shall be fu.i au-
thority to the sheriff of the county,
there the branch is located, to give
such receiver full possession Of such
books, property and rights, with the aid
of the county, if required; and said
bank and receiver shall be governed by
the provisions Of this act, as provided in
cases Of suspension; and upon the dis
solution Of such injunction, or liscon-
tinuance Of such suit by the bank, all
the rights and property of such branch
shall be restored to and vest in said
branch.
Sec. Is. The directors of the Bank
Of Ohio, whenever they may deem it
expedient, may establish an Office in
each Or either of the cities of New Y York,
Cincinnati and Cleveland, for the re-
ceipt Of deposits and redemption of the
circulating notes of the branches, upon
such terms as they may, from time to
time, prescribe, and also a clearing house
at Columbus. They may make all rules
and regulations necessary to the good
management OF such offices and clearing
house, require the several branches to
contribute to the capital Of such Offices,
not exceeding five per cent. Of the stock
paid in by each branch, and compel the
branches to make their collections and
deposits with said Offices and to employ
all such officers and agents as may be
necessary. The net profits of said Off
ces shall be divided among the branches
equitably. The Office in New York, in
transacting business at that place, may
take, reserve and receive such rate of
interest as is or may be lawful by the
laws of the State of New York, and 10
more.
Sec. 10. The Bank of Ohio, after
establishing its agency in New York,
shall, when required by the proper oil
GERS of the State of Ohio, discharge the
duties Of transfer agent of the State,
and receive and disburse for the State
all moneys necessary to be received and
disburscd in that city, in the payment
Of the public debt and interest thereon,
without compensation or charge for such
service, and until such moneys shall be
actually paid out for such purpose or
purposes; and said commissioners, shall,
if they deem necessary, take such good
and sutlc1cnt security as they may deem
proper, to secure the repayment of said
moneys, which shall be taken in the
name of the State Of Ohio, and deposited
in the Office of the Auditor Of State
BRANCH BANK.
Sec. 20. Natural persons, not less
in number than five, may associate and
form Branches Of the Bank Of Ohio, for
the purpose Of carrying on the business
Of banking, each ut such places in this
State as shall be designated in the GER
tifcate hereinafter required to be made,
subject to the contingencies, restrictions,
conditions and liabilities prescribed in
this act
SEC. 21. Persons associatine to form
q branch shall, under their hands and
seals make a certificate, which shall
specify
First-Thc name assumed by such
branch, and by which it shall be known
in its dealings, in which name shall be
included the name of the city, village or
town in which its banking operations
Sball be carried on;