Lewistown gazette. [volume] (Lewistown, Pa.) 1843-1944, 1858-02-25


upon petitions of citizens properly filed, to
grant such views. This bill will affect ev-
cry railroad in the State heavily, as it will
require them to expend vast sum of
money.
In the Senate, on the 18th inst, Mr.
Gregg read in place supplement to the
act of March IA, 1851, relative to the Lew
istown and Kishacoquillas turnpike road
company. This bill was reported on the
18th as committed.
In the House on the 18th inst, Mr..
Bower read in place bill to confer and en-
join upon the county commissioners of
Mifiin county the duties of poor directors
In the House on the 18th, Dir. Bower,
a bill to authorize the Canal Commissioners
to examine the claims of Theodore Franks,
of Miffiin county
The following is copy of bill reported
by Col Hodgson, which being strongly
endorsed by the Harrisburg Herald, may
we suspect be regarded as State admins
tration measure:
thousand eight hundred and nfiy Regulating Banks
SEC. /. That ON and after the lst of November
Ammo Domini one thousand eight hundred
and ffty-eight, no bank, savings institution,
or corporation having banking privileges
within this Commonwealth, shall issue or pay
out any note or bill of less denomination than
twenty dollars: Hocided, That all chartered
banks Of issue now in existence, or that NAV
hereafter be chartered, may, by depositing
State stocks or bonds of this Commonwealth
with the Auditor General, issue and pay out
notes OF the denominations of five and ten
dollars which notes shall be registered and
countersigned by the Auditor General and
delivered to the said banks in sums equal to
the market value, but in no case to exceed the
par or representative value of said State
stocks so deposited.
SEC. =. That all notes issued by said cor
poratiOns upon the pledge of State stocks
shall be SO designated by such plate or Wig
nette as may be approved by the Auditor
General and State Treasurer, and shall be
uniform in size and general appearance but
the name, title. locality and distinctive fca-
lures of each bank shall be clear and specific;
notes so secured by State stocks shall be pro
cured or furnished at the expense of the banks
respectively, and shall be deposited in the
Auditor Generals Office at Harrisburg.
SEC. 3. That the president and cashier of
each and every bank shall, on the last Satur-
day of each and every month, make out under
oath or affirmation a clear and distinct state,
ment, setting forth in detail the actual condi.
ton of the bank at that time, as follows -
Liabilities, amount of capital stock paid in,
notes IN circulation, specifying the amount Of
each denomination, balances due other banks
deposits due individuals, deposits due the
Commonwealth, assets, specie on hand, notes
of specie paying banks on hand, notes OF sus-
pended banks on hand, due from other banks,
due from directors, due from brokers, due
from other individuals; which statement shall
be Immediately forwarded t1 the Auditor
General, who shall publish the same in at
least one newspaper Of the city Of Phiiadel
phia, one at Harrisburg and one at Pittsburg,
the expense of which shall be apportioned
equally among the several banks in proportion
to their capital, and held subject to the draft
Of the Auditor General.
SEC. 4. That in every bank Of this Com
mCnwealth list of accounts oyerdrawn, and
amounts so oyerdrawn notes or drafts pro
tested, and which shall have remained under
protest for ten days or more; notes discounted
with the names of drawers and endorsers,
amount, dates and time when due: drafts
purchased, with dates, amount, time and
place, where payable, with names Of drawers,
endarsers, and persons on whom drawn, with
a statement Of any securities given for pay
ment thereof; and the amount paid by the
bank for each note or draft shall be made out
daily, and be open to the inspection of any
stakeholder and any director, or committee
appointed by a meeting of the stockholders,
shall, during business hours, be allowed to
inspect any books, accounts or papers of any
bank and 4 committee of three stockholders
shall be appointed semi.annually by the di-
rectors of each bank, or, at their option, three
reputable citizens, who shall, on the first
Mondays Of January and July in each and
every year, count the moneys, and institute a
thorough examination into the general condi-
tion of said bank, and make out q written re-
port thereof under oath or affirmation, which
report shall be open to the inspection of all
the stockholders thereof; and the said COM
mittee shall receive, for said service, each not
less than three dollars per diem.
Sec. 5. That whenever it shall be reported
that any enc or more of the said banks have
failed or suspended specie payments, it shall
be the duty OF the Auditor General to make
immediate inquiry into the facts thereof, by
direct communication with said bank or banks,
or otherwise; from the date of such suspen-
sion, the interest upon the State bonds depos-
tied by said bank or banks, shall cease and
accrue to the benefit of the Commonwealth
| thirty days thereafter, if there be sufficient
means in the sinking fund set apart for the
| payment of the State debt to redeem the stock
bonds deposited by said suspended bank OF
banks, the Auditor General, with the concur
renee of the State Treasurer, shall proceed to
cancel said bonds or stocks, and provide for
the redemption of the notes or bills, for which
they were held as security, at their par or
representative value, and for which redemp-
ton he shall draw upon the sinking fund as
often as may be required, to the amount for