The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1857-06-26
'INDLAY, O., FRIDAY, JUNE 26, 1857.

mediate possession OF the books, records
moneys, chooses in action. and proport
OF such branch, OF every description
and hold the srme for the joint use an
benefit Of the other branches OF the Ban
Of Ohio, and the creditors OF the failin
branch; and said Bank OF Ohio shaI
Immediately provide money and plac
the same in such solvent branch O
|branches as may be most convenient 70
the purpose Of tedeeming the notes O
such failing branch, and shall give pub
lie notice thereof in some newspapc
printed in the place where such failin
branch is located, and also in som
newspaper Of general circulation pub
lished at Columbus.
SEC. IL. Each solvent branch shal
contribute in the ratio Of the circ rculatio
TO which il is entitled 20 the sum necos
sary for redeeming the notes OF the fail
ing branch, as provided in the proceed
ing section, on the requisition Of tn,
Bank Of Ohio and may be remuneratct
Tor such contribution, from the safety
fund, as soon as money sufficient car
be raised from that fund, by sale o.
hypothecation Of the stock, funds, OF
other securities belonging thereto.
| SEc. 10. The receiver or receivers ap.
pointed as provided in the eleventh section
shall be required to give bond in such SUN
aud with such securities ns the Bank of
Ohio, or Executive Committee, shall Judge
nj r,. nd 4
bank, shall proceed TO settle up the oiTars
OF such branch, and convert its assets into
money, the money so made shall be appled:
First-To reimburse all moneys which
shall have been advanced by the several
branches, for the redemption o the notes and
bills of the insolyent branch, aud which may
not have been previously ,IfYReys adyanc.
lne. Sahf tHe safety fund, other than moneys
derived from that portion ofthe safety fund
furnished by the failing branch.
Third-To the pay aud discharge of
the remaining liabilities of such branch, a nd
Fourth-The residue shall be divided
among the stockholders of the failing brach,
in proportion to the stock by them respect.
lively held.
SIC. IA. II any branch against which the
Bank Of Ohio shall have instituted proceed
ings on account OF any supposed act of in-
Solvency, as prescribed by the eleventh Sec
tion of this act, shall deny having committed
such act OF insolvency. such branch may ap
ply TO any cour. Of competent jurisdicti
for writ OF Injunction 10 said Bank of Ohio,
TO suspend all further proceedings against
such branch as an insolvent bank; and such
court, after citing said hank Of Ohio to ap-
pear aud show cause why such writ should
not be granted. and after the finding Of a
jury that such branch has, at all times, con-
and still continues 10 redeem, in !
gold and silver coin, its notes of REGULATION, !
shall make nm order enjoining the Bank of
OHIO from all further proceedings against
such branch or account of hesupposed act
Of insolvency on which such proceedings of
insolvency were instituted, aud theIeupon
all the property and assets OF such branch
shall be restored to its directors.
SIC. IS. II the Bank OF OHIO shall in !
spK K6eaemfsil tG Reesssl AZ tAs psp psFsSer
in providing for the payment Of outstanding
notes Of circulation, and in closing the ai- |
fairs Of any branch that shall have commit ,
led an act OF insolvency, the holder Of any
Of its notes of circulation, or other creditor
Of such branch may, in case payment OF such
notes Of circulation OF other claim has been ,
refused when lawfully demanded, and re-
mains unpaid. apply TO any court Of conpe- ,
tent jurisdiction for its writ, commanding
The Bank OF Ohio So to proceed; and 1t shall
be the duty of such court, after citing such ,
bank to appear and show cause why such
writ should not issue, and upon the finding
Df q Jury that such act Of insolvency has ,
been committed, to issue their writ com
sal bank forthwith to proceed in
lhe manner pointed out in the preceding
sections Of this act, TO provide for the pay. +,
ment of the outstanding notes Of such
branch, close up its affairs, and make ap-
plication Of its assets.
SEC. l6. That if any branch snail neglect
or refuse to comply with any order OF the
Bank Of Ohio. requiring such branch TO re.
duce its circulation oil liabilities, or TO pro.
vide a larger amount of specie or other
means, or TO pay its stock, or 10 do, or 10
cease TO do, any other matter, or thing which
said bank may deem necessary for the secu-
Iity Of such branch, or any other branch or
bianches, said bank, or any director there
OF. acting for said bank. may apply 10 any
Judge of the supreme court Of common pleas,
or Judge of superior court, or to any Judge
Of any other court not inferior 10 the court
Of common plees, 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 Uf
the branch, its officers or agents, to comply
Herewith; and il the president, vice pres
ident, or any director Of the bank, shall make
affidavit of the truth Of the facts therein
stated, it shall be the duty Of such Judge to
allow an Injunction, and TO enjoln such
branch, its officers, agents, and all others in
its employ, OF connected Herewith, from do
ing, or suffering, or permitting to be done,
any business whatever as bank, aud from
inteImeddling with, or in any manner dis
posing OF, the books, papers, money, chooses
in action. assets, CT property OF the branch,
until the further order Of the supreme court
or some Judge thereof. A petition reciting
the proceedings had, shall be filed in the
supreme court at Columbus, us soon as in-
junction is allowed.
SEC. H.. Upon the allowance OF such in
junction. the property, credits, securities,
liens, aud assets, OF every description, OF
such branch, shall forthwith vest in the
Bank OF Ohio, who shall appoint receiver,
to take possession of the same, as provided
in the eleventh section Of this act A GER
ti6cate of appointment Of such receiver, by
the Judge, or court, or clerk thereof, making
the same, shall be sufficient authority TO
him to take possession Of the books, prop
erty, and rights Of every description, Of such
branch, ond shall be full authority to the
sheriff OF the county where the branch is 10.
Gated, 10 give such receiver full possession
OF such books, property and rights, with the
aid Of the county, II Iequiredj and said
bank and receiver shall be governed by the
provisions Of this act, as provided in cases
of suspension; and upon the dissolution oil
such injunction, or diseontinuanco OF such
SUIT by the bank, all the tights aud property