The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1857-06-04

4 bank; and if the bank shall be satisfied
from the report of the committee that
such branch has suspended the payment
: of lis notes in gold anil silver, it shall
forthwith appoint suitable receiver OF
receivers, who shall take immediate pos.
session of the books, records, money,
chooses in action, and property of such
brauch, of every description, and hold the
same for the joint use and benefit of the
other branches of the Bank of Ohio, and
the creditors of the failing branch; and
said Bank of Ohio shall Immediately pro
J vide money and place the same in such
solvent branch or branches as may be
/; ;; most convenient for the purpose of re-
declining the notes Of such failing branch
andishall give public notice thereof in
T soHe newspaper printed in the place
where such failing branch is located, and
: also'in some newspaper of general circu
t atien published at Columbus.
SIC. 12. Each solvent branch shall
contribute, in the ratio of the circulation
to which it is entitled, TO the sum for re-
declining the notes of the failing branch.
t as provided in the preceding section, or
theSrequisition of the Bank of Ohio, and
/ may be remunerated for such contribu
ton, from the safety fund, as soon as
m 5ney sufficient can be raised from thai
fund. by sale or hypothecation of the
stock, funds, or other securities belong
slinghhereto.
| SEC. Is. The receiver or receivers ap
pointed as provided in the eleventh sec
, tion, shall be required t. give bond il
such sum and with such securities as the
) Bank OF Ohio or Executive Committee
shall Judge sufficient, and under the di
, rection OF said bank, shall proceed to set
tie up the affairs of such branch, ant
convert its assets into money; the money
So made shall be applied:
First-To reimburse all moneys which
, shall have been advanced by the severa
branches, for the redemption of the notes
and bills of the insolvent branch, and
which may not have been previously re
y imbursed from the safety fund.
Secondly reimburse all moneys ad
vanced from the safety fund, OTHER thar
: moneys derived from that portion of tht
safety fund furnished by the failing
. branch
Third-To the payment and discharge
f of all the remaining liabilities of sucl
branch; and
. Fourth-The residue shall be divided
among the stock holders of the failing
t branch, in proportion to the stock by then
respectively held.
Fl Sec. Ia. 1fany branch against which
, the Bank of Ohio shall have Instituted
4 procee dings on account of any supposed
r act3.of insolvency, as prescribed by ths
+ eleventh section of this act, shall deny
having committed such act of insolvency
f such branch may apply to any court o
competent Jurisdiction for writ of in
: junction to said Bank of Ohio, to suspend
all further proceedings against sucl
; branch as an insolyent bank; and sucf
court, after citing said Bank of Ohio te
appear and show cause why such wri
: should not be granted, and after the find
: ing of jury that such branch has at al
| times continued to redeem, in gold anc
S silver coin, its notes of circulation, shall
! make an order enjoining the Bank of Ohic
from all further proceedings against sue
5 branch on account of the supposed act 0
. insolvency on which such proceeding
e were instituted, and thereupon all thu
J property and assets Of such branch shall
be restored to its directors.
t SEC Is If the Bank of Ohio shall
0 lin any case, fail to proceed in the manne
a prescribed in the foregoing sections of thi
: act, in providing for the payment of th'
: outstanding notes of circulation, and il
n closing the affairs of any branch that shall
i have committed an act of insolvency, tn
d holder Of any of its notes of circulation, OF
i other creditor of such branch may, il
# case payment of such notes of circulation
d or other claim has been refused whel
e lawfully demanded, and remains unpaid
II apply to any court of competent iurisdic
i tion for its writ, commanding the Ban
d of Ohio SO to proceed; and it shall be th
4 duty of such court, after citing such ban
l. to appear and show cause why such wr
e should not issue, and upon the finding c
TT a jury that such act of insolvency La
: been committed, to issue their writ com
e manding said bank forthwith to procee
1t in fac manner pointed out in the prec.
d ding sections of this act, to provide fo
il the payment of the outstanding notes
/ such branch, close up its affairs, an
y make appli alton of its assets.
= SEC. Is. That if any branch sha
+ neglect or refuse to comply with any O
Il der of the Bank of Ohio. requiring sue
ie branch to reduce its circulation or 9th
T. liabilities, or to provide larger amou
n of specie or other means, or to pay in
es stock, or to do. or to cease to do. any ot
We er matter, or thing which said bank m;
b; deem necessary for the security of SUI
OF branch, or any other branch or branche
y said bank, or any director thereof, aetil
II for said bank, may apply to any judge
an the supreme court or court of COM 10
"a pleas, or any Judge Of the superior cou
or to any judge of any other court not
Of ferior to the court of common pleas,
ir petition, in which the Bank of Ohio sh
'er be made petitioner, and the branch il
III plicated defendant, setting forth the su
be stance of such order, or orderss and su
se neglect or refusal, on the part of t
ng branch, its. officers or agents, to comp
RS. therewith; and if the president, "
M president or any director of the bar
re- shall make affidavit of the truth of t
es, facts therein stated. it shall be the duty
all such Judge to allow an injunction, and
tv, enjoin such branch, its officers, agen
he RI Ill =