Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1859-05-26

'hoh 'eluiu u any oi lts circulatlhg notes TO
be burnt, the same shall be burned to ashes
BY the treasurer Ct state, in the presence of
the comptroller of the treasury and the
agent of the bank, and four certifca ,es
thereof be made and signed by the treasur
er, comptroller and agent of the bank, speci-
tying the amount of each denomination of
notes so burned to ashes; one copy Of which !
certificate shall be delivered to the agent of
the bank, and one each to the treasurer,
and register.
Sec. 6. The auditor of state shall ap-
point some suitable person as clerk in his
Office, who shall 5e styled the register, and
be under the su oervision and control of the
auditor. The register shall, without delay,
make and keep ia his Office accurate ac-
counts of all certificates of debt now depos
tied, and that may hereafter be deposited
with the treasury as security for the re-
demption of circulating notes of banking
companies; he shall also make and keep an
account of the amount of each denomina-
tiou of the notes of each banking company,
delivered TO SUCH bank, and OF the amount
returned and burned, so as TO show the bal.
ance OF notes chargeable to such bank; and
he shall also keep accurate accounts of all
notes hereafter registered and delivered to
each bank, and notes hereafter registered
turned to be burnt, so as at all times to ex-
hibit the true amount OF each denomination
of registered notes delivered TO each bank
ing company, and the amount thereof re-
turned.
Sec. Z. Whenever it shall be necessary
to sell any of the certificates of funded debt
So deposited Us aforesaid, for the redemp-
tion of the notes of failing bank, the au-
ditor, treasurer, and comptroller shall make
an order on the treasurer to sell such GER
tifcate and certificates and at such time
and times, place and places, as may be ne
cessary to redeem the outstanding circula-
ting notes Of such bank, as the same NAV
be presented TOR redemption, and produce
The largest sum that may be obtained for
such certificate; and when it shall have
been determined to make such sale, the
comptroller shall issue an order to the treas
urer specifying what certificates shall be
sold, and the time and times. place and
places of selling the same; and in making g
such sale the treasurer shall be governed by
the provisions of the act under which such
bank shall have been organized, except as
prov ided by this act. When any such sale
shall be made. the treasurer shall forthwith
report the same and the amount of money
thence arising, TO the comptroller and the
auditor, who shall cause en- account thereof
to be made in their respective departments,
and the treasurer shall be charged with the
money as a redemption fund, and all pay
ments made by the treasurer for the re-
demption Of the notes Of a bank, shall be
upon the warrant OF the auditor, as in other
cases; all notes, presented for redemption
at the treasury, shall be burned to ashes by
the treasurer in the presence Of the comp.
troler and register, and certificates of such
burning, signed by the treasurer, compirol.
ler and register, shall be made, and account:
thereof kept, as in other cases.
Sec. s. II any banking company shall
fail TO transfer, and keep deposited with the
Treasurer of state the amount OF securitie.
for the redemption of circulating notes, re-
l quired to be deposited by the act unde
which such banking company shall have
been organizedPor shall fail to make the
quarterly returns Of the condition of tn,
bank, or to keep on hand the amount o
coin and its equivalent, required by the &C
aforesaid; or if any other violation of any o
the provisions of the act under which sucf
banking company may be organized shal
come to his knowledge, the auditor of state
shall forthwith notify The attorney genera
thereof; and the attorney general shal
thereupon, and also for any such violations
that may otherwise come to his know ledge
) proceed by quo warranto in the proper court
against such banking company, as for ior
feiture of the corporate franchise thereof.
Sec. 9. If the auditor of state, treasure
Of state, or comptroller of tbs treasury. o
any clerk in either Of their offices, shal
knowingly and purposely, and with inten
thereby to cheat or defraud any persons, o
body corporate. use or otherwise dispose o
any of the securities deposited by any bank
i. ing company as aforesaid, or any of the cir
. culating notes of any banking company
whether the same be registered or unregis
tered, and which may have come into hi
!, possession or under his control for any O
5 the purposes named in this act, or in" tn
several acts mentioned in the first section
: of this act, he shall be deemed and he'll
guilty of embezzlement, and prosecuted b,
: indictments in any court having jurisdiction
of the offense, and upon conviction tbereo
shall suffer the same punishment or penalt,
as is or may be provided by law for tn
punishment of persons guilty of the embez
5 element of the proper securities and money
t of the state; and in all prosecutions for EN-
bezzlement under the provisions OF this acl
the securities and the notes aforesaid
} whether registered or unregistered. shall b.
deemed and he'd to be of the value denomi
mated IN the face thereof.
Sec. 10. Sections seven, eight and min,
OF the act entitled "an act TO further provid'
for the better regulation and receipt, dis
bursement and safe keeping, of the publ,
revenue passed April IL, 1858, are hereb,
repealed: provided, that the repeal thereo
shall not effect the existing rights or liza
bilities, civil or criminal, of any person o.
persons, arising under the sections so re
pealed.
Sec. IL. This act shall take effect oil
It's passage.
WILLIAM d. WOODS,
Speaker OF the House of Representatives.
4 MARTIN WELKER,
| President OF the Senate.