The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1857-10-01
NUMBER. 2

- 2 rs%f 81
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l. ever The amount Of its outstanding note!
u OF circulation; shall exceed the above
IS named proportion. no more of its note.
81 shall Pc paid cut, or otherwise put in cir
g euiatlon, by such branch, nor shall such
/ oraneh increase its liabilities, by making
!, any new loans or discounts. other than
q o,scountlng or purchasing bills of ex-
y change, payable at sight, nor make any
dividend OF its profits, until The required
proportion between its outstanding notes
OF circulation, and gold and silver coin,
p or lhelr equivalent on hand, shall be re-
y s'oreo. Actual deposits with any solvent
oank' OF established credit, in the cities
OF New York, Boston Philadelphia, or
, Baltimore, sui ject TO be drawn aeainst at
! s'gnt payable lngold and silver coin, shall
oe deemed equivalent to gold and silver
: this act. - : 19'N = TsaA -
SEC SO, No hrarcb organized under
.his act SHAH. 81 any time, be indebted or
IN any way liable 20 an amount excee dinr
; e"o-ln1fds ol lis capital stock at such trnie
!; ac.uaily paid IL, md remaining as capi-
"a. 'ai STOCK uudin inlsbed by losses or other
wise except on the following accounts
bat is to say.
First-On account af ifs no,as af ~.
culation; -
Second-on account of moneys depos-
itea d. with or collected by such branch:
ihlrd-On account of bills of exchange
or GRATIS drawn against money actually
On deposit 70 the credit of or due to such
eourth-Liabilities to its stockholders
on account of money paid in. on CAPITAL
s'ecS, divide nds thereon, and undivided
profits. '1 ''1'u
nor shall any branch. either directly
VI VI indirectly, pledge, hypothecate or ex-
change any OF its notes of circulation for
'ne purpose OF procuring money, to be
paid IN on its capital stock, nor pledge or
hyPothecate directly or indirectly any of
sucn notes to be used in its ordinary
banking operations.
SEC. 81. No branch shall. darino the.
.ine 1t shall continue its operations as n
oranch, withdraw or permit to be with
araWn, either in form of dividends loans
70 20. se0ekhoiders, for longer period of
llme than four months, or in any other
manner, any portion of its capital stock;
anu l! losses shall at any time have been
sustained by any branch, equal to or ex-
ceeaing its undivided profits then on hand.
no dividends shall be made, and no divi-
dend shall ever be made by any branch.
While 1t shall continue its barking opera
l!ons, to an amount greater than its net
prohts then on hand, deducting therefromE
Its losses ssst and bad and. suspected debts:
ana all debts due to branch, on which
interest is past due and unpaid for a pefi-~
od OF rs, SIX months, unless- the same shah
De wen secured, and shall be in the pro-.
cess OF collection, shall be considered bad.
or suspended debts, within the meaning
of this section.
SEC. 38. The directors of each branch
shall, semi-annually on the first Mendav
IN May or November, declare dividend
of SO much of the net profits of the
branch as they shall judge expedient;and,
on each dividend day, the cashier shall
make full, clear and acurate statement
OF the condition of the branch as it shall
De on that day, after declaring the divi-
dend' which shall be verified BY the oath
OF the cashier, president. and two OF the
directors; and similar statements shall al
SO be made on the first monday in each
month IN each year, which statements
shall contain,
First-The amount of the capital stock
actually paid in, and then remaining as
the capital stock of the branch;
Second--The amount of the bills or
notes of the branch then in circulation.
specifying the amount of each denomina-
ton;
Thrd-The greatest amount in circu-
lation at any time since the making of the
last previous statement, as shall have
been exhibited by the weekly statements
Of the cashier, specifying the time when
the same occurred;
Fourth-The amount of balances and
debts of every kind due to the branches
Of the Bank of Ohio, the amount due to
other banks of the State, and the amount
due to banks not of this State.
F.fth-The amount due to depositors;
Sixth--The total amount of debts and
liabilities Of every description, and the
greatest amount since the making of the
asst previous statement, specifying the
ime when the same occurred, as exhibit-
ID by the weekly statement of the
branch;
Seventh-The total amount of divi-
lends declared on the day of making the
Eighth--Thc amount of gold and sill
,er coin and bullion belonging to such
branch, and in possession at the time of
making the statement, designating the a.
mount of each;
Nnth--The amount subject to be
lrawn at sight. in gold and silver, then
emaining on deposit with solvent specie
paying banks in the cities of new York,
Philadelphia, Boston, and Baltimore.
Tenth--The amount then on hand, OF
ills or notes, issued by branches OF the
Bank of Ohio, the amount issued by other
,anks of this State, and the amount is-
ued by other banks not Of this State;
Eleventh--The amount of balances due
rom branches of Bank of Ohio. the a.
1ount due from other banks of this State,
nd TIE amount due from banks not of
lis State, excluding, in the latter case