Democrat and sentinel. [volume] (Ebensburg, Pa.) 1853-1866, 1857-10-21

within its provisions more than thirty days af-
ter the passage hereof, or after any bank sksli
have suspended specie payments upon its note.
or obligations, unless the stockholders of ,ueh
bank or other corporation SHALL before the
expiration of the said thirty days, or within
thirty days after any bank shall have suspen-
ded specie payments upon its notes or other
obligations, at a meeting to be called BY the
directors thereof for that purpose, on ten DAYS
public notice, in one or more newspapers, nc
cept the provisions of this act by majority
of votes of said stockholders, to be voted and
counted according to their provisions in the
charter of such accepting Bank, or other cor
poraton regulating the election of Directors.
but to make such acceptance valid, taere
shall be flick ia the Office of the Auditor Cen
eral of this Commonwealth a certificate that
this act has been duly accepted, under the
common seal of such Bank or other corpora
tlon, attested by the signature Of iis rresi-
dent or Cashier. And each cf the said Banks
accepting the provisions of thi. act, shau a.ss
pay into the Tresaury Of the Common nwsal;a.
on or before the first day OF January, Ammo
Domini, one thousand eight hundred and ff
ty-eight. Or, within thirty days after any ba; (
shall accept the provisions OF this act a sun,
equal to one-tourth of one per ccntum upon
the capital stock of said bank, in addition %
any amounts they arc now rsqaired hy law
to pay.
section That the 47th section of tic &C.
approved April 10th. 1850, entitled IAN
Act regulating Banks" be and the same is
hereby repealed !: Proridea. That al suits
brought or now pending, for fersei.ures or
penalties under the sec i)n hereby repealed,
shall not be affected thereby.
Section Q. Tnat the Legislature hereby rs-
ha rIfht and 70 al.
annul the charters OF any bank or hanks, cor
poration or corporations, accepting the provis-
IONS of this act, whenever in their op.Siou the
same may prove injurious to the citizens OF
the Commonwealth, In sech manner, howsy-
er, as to do 10 justice to the corporstors
Secticn 10. That He Bank, SayiL 2. Fund,
Insurance or Trust Company shsll, directly
or indi ectly, purchase, or be concerned iu
the purchase or the notes OF any of the iRcor-
! porated banks of this State at less than their
| par value; and any and every of the officers
of said institutions violating the provisions Of
this section shall be deemed guilty of mis-
demeanor, punishable, upon conviction, By =
fine Of not less than five hundred dollars no-
more than one thousand dollars, one half to
be paid to the iuformsr and the other half to
the use of the Commonwealth
Section / L. That no stocks bonds, prom
isSory notes, personal property, or otuer val
liable securities, hypothecated or held il
pledge, either with power of attorney attach
ed or otherwise, for credit or zioney ioauej
shall be sold for the period of six months for.
the passage of this act without the consent vi
the debtor, debtors or party hypothecstirg or
pledging the same being frat had sid ob;ai2-
ed in writing.
Section Il. That the notice required foF
payment. provided in the charters vf Ssyius
FUND and Trust Companies, III .il tua. ex-
ceeding one hundred dollars. be. and &c ssrse
is hereby extended for tie period Of ivs
months during the suspension Of specie pay
ment authorized by the Act.