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

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of its notes outstanding fourth, the amount |
of its deposits, including individual deposits |
and balances due to other Banks which |
statement shall be published in the next sue
ceeding issue of newspaper of the county in
which the bank is located, or if there be no
newspaper in such county. then a newspaper
OF some neighboring county and any viola
ton OF this law, or failure TO comply with its
provisions by any President or Cashier of any
Bank, shall be misdemeanor, and each of
the said officers shall, upon conviction there
OF, be punished by fine not less than five
hundred dollars, nor more than one thousand
dollars, at the discretion of the court; one
half to be given to theprosecutor and one half
to the county in which such bank is located.
Section g. The said Bank are required.
until the second Monday of April aforesaid,
to receive at par in payment of all debts due,
or to become due to them, respectively, the
notes of all the solvent Banks of the Common
wealth which paid specie for all their liabili-
ties on and Immediately prior to the first day
of September last, and which shall continue
solvent, aad the said banks are also hereby
authorized to pay out, in all their business
transactions and discounts. the said notes, SO
long as the banks issuing the same shaR re-
main solvent but in case any President. and
a majority of the Directors of any of the said
Banks shall certify to the Governor, under
oath or affirmation of the President, his ap-
prehension and belief that any Bank in said
certificate named is in an un safe condition the
Governor shall thereupon appoint three judi
clous persons, not Interested an said Bank as
Commissioners to investigate the condition of
such Bank. And the said Commissioners to
investigate the condition of such Bank And
the said Commissioners shall after taking an
oath affirmation to perform the duties of
their appointment with fidelity forthwith pro-
ceed to make the said investig a.ion and re-
port the result thereof within ten days to tlI
Governor and if the officers of the said
Bank shall refuse to permit the said Commits
sioners to make such investigation, Or to pro-
duce any books or documents necessary for
that purpose, or If the said Commissioners, or
q majority of them, shall report that the said
Bank is an unsafe condition, the Governor
shall thereupon issue his proclamation dccla-
ring the charter of said Bank to be forfeited,
| and the said Bank shall be deprived of I'll the
benefits of this act and the directors thereof
shall forthwith make and execute an assign
ment in the manner provided by the act en-
titled IAN Act regulating Banks" approved
the sixteenth day of April, Ammo Domini
eighteen hundred and fifty and the expense
! of such commission, including the compensa-
ton of the Commissioners at eight dollars
| per day each shall be paid by the bank against
which it is Issued. unless the report shall be
! favorable to its condition, in which case they
shall be paid by the applicants, but any
| Bank or Banks which shall before the period
| hereinbefore limited, resume and continue
the payment of specie Oh all their liabilities,
shall not, after such resumption, and during
such continuance, be subject to any of the
+, provisions OF this soctol Provided, That
n, bank shall be required to receive the notes
Of any bank against which certificate may
be made as aforesaid, at any time after the
| delivery Of the same to the Governor, until
the Commissioners shall report in favor of
such Bank, after which the notes of such
| bank shall again be received as required by
| the provisions of this section.
| Section I. That the several collectors of
| taxes tolls aud other T e of the Conn
m ,alth, and also County Treasurers, are
hereby authorized to receive, for State pur-
poses the notes of the solvent banks of this
! Commonwealth, though not specic-paying
banks, in payment of the said taxes, toll and
revenues aud the State Treasurer is hereby
authorized to receive and receipt for the same
! in tie same manner as though said banks
were specie paying.
| Section s. That the deposits by the State
Treasurer or to the credit of the Common
wealth, in the several banks and corp ra, ions
and all bank notes which are now or may
hereafter be in tie treasury during the period
of suspension afoi esa;d, shall from time to
time, on demand Of the SAID treasurer, be paid
by the said banks or other corporations res
pectively, in specie, in such amounts may
be required by said Treasurer to enable him
to pay the interest accruing on the public
loans of the Commonwealth.
Section 6, That upon all judgments here
| tofore entered in suits commenced by writ or
otherwise, or which may be entered during
the period heretofore mentioned, IN actions
instituted by writ, or otherwise, in any court
in this Commonwealth, or before any elder
man or justice of the peace, on judgments OBJ
tanned before said officers, if the defendant
shall be possessed of any estate III fee simple,
within the respective county, worth IN the
opinion Of the court, alderman, or justice the
amount of the said judgment over and above
all incumbr ances, aud the amonnt exempted
from levy and sale an execution, thereon. or
Judgment now obtained. or to be obtained OF
suits now brought, for the term of one yeal
from the date Of the passage of this act ant
on all others for one year, to be computed
FROM the first day of the term to which til,
action was commenced; and every defendan
in such Judgment may have the same stay Q
execution, if within thirty days f.om The pas
sage of this Act, or wihia thirty days from til
rendition of any futuo Judgment, he shall Civ
securityto be approved of by the court or by
Judge thereof, or by such alderman or justice o
!, the peace before whom such judgment was..ot
tained, for the sum recovered, together wit
the interest and cost : Provided, That thi
, section shall not apply to the wages of labo