Lewisburg chronicle. [volume] (Lewisburg, Pa.) 1850-1859, 1857-10-16

required by the provisions OF this section.
SEC. 4. That the several collectors OF
taxes, tolls aud other revenues OF the
Common ealtb, and also county treasurers
are hereby authorised to receive for State
purposes, the notes of the solvent banks
of this Commonwealth, thoug b not specie
paving Banks, in payment of the said tax
es, tolls and revenues; and the State Treas
urer is hereby authorized to receive AMI re-
CENT for the eame,in the same manner as
though said banks were specie paying.
SIC. 5. That the deposits by the State
Treasurer to tho credit Of the Com'th in
the several banks and other corporations,
and all bank notes which are now or may
hereafter bo in the Treasury during the
period of suspension aforesaid, shall from
time to time, on demand of the said Trea-
surer, be paid by the said banks or other
corporations respectively, 10 specie: FRO.
yiaed, That the said Treasurer shall, 1t
required by the cashier or president OF
any such bank upon which demand IS
m ade for specie on its notes, present bis
oath or affirmation 10 the said cashier or
president, that said notes were received oy
him as revenue paid into the Treasury OF
the Commonwealth, and that he does not
intend to use the specie to be obtained
thereon for any other purpose than the
legitimate purposes and uses OF the Treas
ury of the Commonwealth.
SECS. That upon all judgments heretofore
entered, in suits commenced by writ or other
wise or which NAV be entered during The period
hereinbefore mentioned in actions instituted
by writ or otherwise in any court IN this COM
mon wealth or before any alderman or justice
of the peace ,on judgments obtained before SAID
officers, if the defendant shall be possessed of
any estate in fee simple within the respective
county, worth in the opinion Of the court or
alderman or justice of the peace, the amount
Of the said Judgment, over and above all
membranes, and the amount exempted from
lew and sale on execution, he shall be entitled
to a stay of execution thereon, on jud dsmeni
now obtained or TO be obtained. on suits now
brought for the term of one year from the date
Of the passage of this act, and on all others
for one year,to be computed from the frs, day
of the term to which the action was commen-
ced and every defendant IN said judgment
NAV have the same stay OF execution thereon,
if within thirty days from the passage OF this
act, or within thirty days from the rendition
Of any future Judgment he shall give security
to be approved of by the court or BY Judge
thereof, or by such alderman or justice Of the
peace, before whom such judgmen, was OBJ
famed, for the sum recovered, together with
the interest and costs: Prorided, That this
section shall not apply to the wages of labor,
nor debts upon which stay Of execution is ex-
pressly waved by the debtors, nor TO ludg-
ments upon which stay of execution has
already been taken under existing laws: {:
And prorided, That the provisions OF this
section shall extend to judgments en-
tered or to be entered, as well upon bond
and warrant Of attorney as upon mortsa-
ges to secure the same, and 10 any subsequent
grantee or owners of the premises so bound,
as well as to the original oblisor or mortsaser:
Prorided further, That said stay Of execution
shall not apply to judgments or mortgages. or
on bonds secured by mortgage. unless the IN
terest thereon shall be paid within sixty days
after the accruing Of the same, in such funds
as the banks are authorised BY this act to use.
SIC. Z. This act shall take effect immedi-
-.-iS. -. - h.nL oihs' cr-r"-~''-''
be embraced within It's provisions more man
thirty days after the passage hereof, or after
any bank shall have suspended specie pay
ments upon lis notes or oblis cations. unless the
stock holders Of such ba k or other corpora
,lon shall before the expiration of the said thir-
ty days, or within thirty days after any bank
shall have suspended specie payments upon
its notes of obligations, at meeting 10 be call
ed by The directors thereof for that purpose, on
ten days public notice, N one or more news
papers. accept the provisions of this act by
majority of votes Of said stockholders, 10 be
voted and counted according to the provisions
in the charter of such accepting bank or other
corporation regulating the election of directors,
but to make such acceptance valid there shall
be filed in the office of the Auditor General o!
, this Commonwealth a certificate that this act
has been duly accepted, under the common
seal of such bank OF other corporation, at!es-
ted by the signature Of its President or Cash
! ier +; and each of the said banks accepting the
provisions of this act, shall also pay into the
| Treasury of the Commonwealth, on or before
the first day of January, Ammo Dominl, one
thousand eight hundred and fifty-eight, sum
1 equal to one half Of one per centum upon the
I capital stock Of said bank in addition to any
/ amounts they are now BY law required 10 pay
| Snc. s. That section forty-seven of the act
! approved April l6. 1850, entitled, "An Act re-
| suiating banks" be and the same is hereby
repealed.
S.c 9. That the Legislature hereby reserves
the righ, and power TO alter, revoke or annu
| the charters Of any bank or banks, corpora
I ton or corporations accepting the provisions
! of this act, whenever in their opinion the same
may prove injurious 10 the citizens OF The
Commonwealth, in such a manner, however
as to do no injustice TO the corpora,ors.
SIC. 10. That no bank, savings fund, In
surance or trust company, shall directly or IN
directly purchase, or be concerned in the pur
chase of notes Of any of the incorPora
ted banks Of this State at less than their pal
value, and any and every Of the officers OF
said institutions violating the provisions ol
this section, shall be deemed guilty Of mis-
demeanor punishable upon conviction by a
fine Of not less than five hundred dollars. moi
more than one Thousand dollars, one half TO
be paid TO the informer, and the other half to
the use of the Commonwealth.
SIC. II. That no stocks, bonds, promissary
notes, personal property, or other valuable Sc
curities, hypothecaied or sold in pledge, either
with power Of Attorney attached or otherwise
for credit or money loaned, shall not be sold
for the period of six months from the passage
of this act, without the consent of the debtor
debtors or party hypoihecating or pledging the
same. being first hereafter had and obtained
in writing.
| DARWIN E. FINNEY,
Speaker of the Senate.
J. LAWRENCE GETZ,
Speaker of the House of Representatives.
| Approved-October l3, 1857.