Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1858-06-23
AN ACT
mo. 9s ]

AprilI2. 1855
mo. 9S AN ACT
To tax the property CT Banks and Bankers. SO 8. to
require all property employed in Banking 20 bear a
burden Of taxation equal TO that imposed On the pro-
perry OF other persons.
srrTIoSI. Be 1t enacted By the General Assembly
1ftks state of Ohio. That it shall he the duty Of the
president and cashier of every bank or banking com
Porsted by the laws Of this state, and having the right
to Issue bills for circulation as money. to make out
anh retarn under oath. to the auditor OF the county in
which sush bank or banking company may he situated.
in the month Of May, annually, y written statement
containing
.st- The average amount Of notes and bills discount
ed, or purchased by such bank or banking company,
which amount shall include all the loans or discounts
ofsuch bank or banking company, wlrther originally
made or renewed during the year aforesaid. or st any
time previous: whether made on hills Of exchange,
notes, bonds, mortgages, or any other evidence or in
d~ebtedness, lat their actual value in money! whether
previous to, during. or after the period Aforesaid; and
on which such bank or banking company has at any
time reserved or received or is entitled to receive. sry
profit sr other consideration whatever. either in the
shape Of interest, discount, exchange or otherwise
I'd. The average smount of all other moneys. effects
ordues of every description belonging 70 such hsnk or
banking company, loaned. invested. or otherwise used
or empioyed Win 4 view TO pront, or upon Whleh seeh
hank or banking company receives. or is entitled to
amount OF the specie funds Of every such bank kept
on hand unemployed except with a view Of redeeming
depositoTs, and also the average amount Of the balances
due from other banks upon which no interest, profit or
consideration is feserved or received, shall be excluded
in the above estimates OF the taxable property of each
bank required to be made and returned as aforesaid.
SEn-2- To ascertain the amount of notes and bills
discounted and purchased, and all other moneys. effects
or dues of every description belonging to such bank or
banking company, loanel, invested, or otherwise used
or employed With q view to profit. or upon which such
receive interest, TO be re urned as aforesaid. there shall
be taken rs a criterion, the average amount Of the alore
said items for each month during the year next previ-
Gus 10 the time Of making such statement. il SO long
snchban or banking company shall have been engaged
In business, aud If not, then during sach time as such
hank or banking company shall have been engaged in
business: and the average shall lie made by adding to-
geiher the amount SO found belonging to such hank or
hsnking company in each month SO engaged in BUSH
ness. and dividing che same by the number Of months
so aided together.
SIC. ;. Every person who shah have money employ |
ed in the business Of dealing il cein. notes, or bills OF
exehange' o 7 Al "a business ot dealing IN or 6n!i ing
or shaving any Kind of bills Of exchange, checks.
writing obligatory, or stocks of any kind OF description
whatsoever, shall be held to be a banker, broker, or
stock joeberi and he shall, when be is required to make
out and deliy.r TO the assessors statement of the amour
or value OF his other personal property subject to tax
alton. also inclu lie in his statement the average value
estimated as provided in the twelfth section of this act
Of all moneys, notes, bills Of exchange, bonds. stocks
or other property appertaining to his Business as a
banker, broker or stock jo5ber. which he shall have
had from time to time in his possession. or under his
control. during the year next previous TO the time Of
making such statement II go long lac shall Lave been
engaged in snch business, and if not, then daring the
time he shall have been so engaged
Sec. 4. That in all cases where the Faxes. or any part
thereof, assessed upon the personal property, MONEYS.
credits, or effects Of any bank or banking, or other in
corporated %eomnany, or association, or any banker.
hroker' or stock JOINER or partnership, OF Company OF
bankers. brokers or stock ioibers or any agent OF ar
insurance or other company Incorporated 10y the laws
Of soEe other state or government. under the Provis.
IONS of the act for the assessment and taxation Of al
properly IN TINS stale. ana . ieTylug tsNcs thereon
according to its true value in money" passed the thir
teenth day of April, ia the year eighteen hundred and
unpaid till the twenty first day Of December, in any
year, the treasurer o. the county, wherein such taxes
have been or MAY be- assessed. shall forthwith demand I
payment Of the Omount Of such taxes, and five per Cen h
tum penalty thereon. (which said penalty shall be Tor
the banking house. Office, agency. or place OF business
OF such hank, or banking. or other Incorporated com
fany, or association, or Of such banker, broker, or stock
job6er. or partnership, or company of bankers. or stock
iohlers. or at the Office. agency. or place Of business OF
Sach agent OF an insurance, or other company lucUrpo- !
rated by the laws of some other state or government.
Aud if the taxes and penalty aforesaid, or any part
thereof. shall remain unpaid, for the space OF 1--WE DAYS
from and after the delivery Of such notice, the trelsu
rr shall proceed to the banking house, Office. agency.
or place of business OF such bank, or banking. or other
incorporated company or association. or OF sdch bank q
~r.bro@er, or stock JOhher, or partnership or company S
of bankers. or brokers. or stock johbers. or TO the Office, t
agency, or place Of business Of the agent If an insC- a
rance or other company incorporated by the laws OF t
some other state or government. and there destrsin sHd $
seize whatever gold, silver. or copper coin. bullion, c
es7k bills, promissory notes. bills OF exchange. or d
other securities. or goods or ehatles, the property Of c
such bank. or banking, or other Incorporated company t
or association. or of such banker, broker, OF stock job {
Der, or partnership, or company OF Bankers, brokers, or
Of such agent olan insurance or other company, incor- .
porated BY the laws of some other state % government, q
or OF the company itself. as may be sufficient to pay s
the taxes and penalty, SO as aforesaid demanded. to- a
Setr-r with five per een;um poundase, (which said c
puundage shall be for the use OF the treasurern and all n
the costs and expenses of such distress and seizure. Il
aud OF any sale which may thereafter become re- c
src. S. That the treasurer shall forthwith remove i
the coin, bullion, bank hills. pronissary notes, bill, Of +.
exchange, or other securities. or goods or cIsttles. so q
destrsined and seirel, to h $ own Office or TO some place c
tory thereof, "a copy OF which he shall file in the Office :
ofthe county audit0rJ sha l advertise that be will sell D
at iuhhc rendre. the bullion, bank bills, proniSsory c
notes. bills Of exchange. or other secur ties. or goods, q
er chattles, SO destra:ned and seazed. al the door Of the S
court mouse 81 IA conn y on n tettl Jay after such fl
advertisement. which advertisement shall be by one a
publication in some newspaper printed IN the said d
county or by a plsesrd upon tue door OF the court Il
house aforesaid. But if the amount OF the taxes and Ii
penaty. SO as Aforesaid demanded. together with frs a
per cehtum ponndzge. and all the costs and expenses A.
incurred. be rendered in gold or silver coin To the treas III
diAtely on demand. surrender the coin. bullion, hank u
bills promissory notes. bills of exchange or other secu n
rites. or goois or chattles, So as Aforesaid distrained OF
ana seaEsa' to the person or persons authorized to C
or persons. in duplicate therefor one copy OF which N
receipt he shall ionhwih file in the county auditors Of
orlce- But If no such tender be made before the day Of 81
sale. the treasurer shall proceed 10 sell puhiicly to tie m
highest bidder or bidders. the said bullion. bank bills, e
promissory notes. bills of exchange or Dther securities, nj
or goods or chztIles. or 50 much thereof As with the m
coin distrained and seized will pay the taxes, penalty, Al
poundage, costs and expenses, al the door oil the court tn
house of his cOut ty, demanding and receiving for pay h
ae;t at such sale only the gold. silver and copper Coins b.
ottbs United states. and such gold anc silver CONS OF CT
foreign stGes or countries IS 10y some sc; Of the Con Ii
gress of the United States or proclamation of president. o.
are then lawful and current And the treasurer shall v
pay to the person or persons therrto entitled, on de- NJ
msnd, the excess az any of the purchase money, at AZ
such sale, over and shove the residue Of the taxes. pen. ss
atty. pouEdage. costs and expenses aforesaid; but shall
retain Tor distribution according TO law. the amount Of ar
sale, or By distress alone. ac
Client gold. silver or copper coin huIiion. bank bills, Al
promiSsory notes. bills Of exahanse or other securities, ..
or goods or chattl. s TO lay the amount 81 i&- tsA-s and h,
p-naltv demanded. together with i've pc: centUm br
pouDdage and all the cost and expenses Of distress and
seizure. in the banking house. Office, agency, or place
81 basine<s, OF any such bank or banking or othsf in
eorporaIed company or association, or Of ANY such
banker, broker. or stock Iobber, or partnership, or
comFsny Of bankers, brokers, or sock johbsrs. or in
the onhc-. agency % place Of business OF any such agent
OF an insurance or other Company Incorporated by he
lyws OF some other stale or government. he is hereby
Authorized and required also to distrzin, seize and re-
move whatsoever coin, bullion, bank bills, promissory
notes. bills Of exchange. or other securities. or goods lie
or ch4ttles, Of such hank or banking or other incorpo-
rted company or association. OF OF such tanker. bro
ker, stock jObher. or partnership or company OF bank
ers, brokers, or stock joDbers, or OF any partner or mem
ier thereof, or of such agent OF IN insurance or other
company Incorporated nv the laws OF some other state Ia
or government, OF OF the company itself, he may or ST
can find anywhere within his county, in whose posses
sion or couio oil soevcr, or IN What place socFer. the
same may be. And in case any coin, hH,iion. bank
bills, promissory notes. bills ~ exchange. or other n
securities, or goOis or ehzttleS. lie taken cut OF ms !
county into Hny other county OF this state. for the pur :
pose Of eFading such diStTe Ss and SEIZURE yer % thsI IN
The ssne cannot he made in the county where the taxes
were asssssedJ the treasurer 2ay and shall pursue the ~
said coin. bullion, bank bills rromissory notes. bills st
of exchange OF other securities, Or goods or ehs;tles- OF
into any county or counties OF thus stale ana dlstfsin -
xnd s-ixe the same wherever found and remove the !
ssme TO his own county ~ Uiberior proceedings as here
inbefore dir ectcd.
SEo- : That each county treasurer shall report TO
the auditor Of state. Ola or before the first day of April Of
next, and thereafter on or before the twenty xuI Gay hs
ct December. Annually, the amount OF taxes charged hr
or which may hereafter he charged upon the duplicate 20
OF his county. against aHy corporation, company ores pt
sociztion. authorized To loan or invest its capital stock, as
or any part thereof upon or in bopes. notes. SiIs nr lth
other obligations hearing interest.a AID secured by oeed' be
mortgage, or iTcuEbIance of real estate, IN two or more
counties of this state. and which taxes, OF any part
thereof, then remain. or may thereafter remain unpaid.
And the auditor OF state shall. after ascertGining the n
aggregate amount OF all such taxes due by any corpo i
-anon. company or association as aforesaid. appoint :