Dayton daily empire. [volume] (Dayton [Ohio]) 1850-1865, 1859-05-14
LAWS OF OHIO.
Published by AathoSiy.
AN ACT

LNNs ~ ~ Nv
To provide more easctualiy for lbs safe keeping
Of the securities deposited by banks, and for The
redemption Of thsir notes.
Section /. Be Il enacted BY the General Assem-.
bly, Of the State Of Ohio, That the certificates ol
tho funded debt Uf this state aud Of the United
States, required 10 be deposited with and trans
fcrfod TO the treasurer Of state security for the
redemption OF the circulating notes ofindrpondenl
banking companie~, agreeably 10 ths previsions Of
the act 70 incorporate the state bank Of Ohio and
other banking companies, passed. February 25,
lSA5, and the certificates Of the funded debt OF
the state Of the United Slatca and Of other states
required 10 be transferred 10 the auditor Of state
as security the redemption Of circulating notes
Of banking companies, agreeably to the provisions
Of the act to authorize free banking, passed March
n, 1851, and Of tho act supplementary to the las,
mentioned act, passed April II, 1885, shall here
after be deposited with the troauter Of state, and
be carefully preserved by him Ia the state treasu-
ry and all Of such certificates as shall have here
toforo been transferred 10 the auditor Of state
shall be by him deposited with the treasurer Of
state, and be carefully preserved by him In the
state treasury. All such certificates so deposited
as shall be transferable at any agency or Office In
this state, Of the United States, or OF any other
state, shall DO Transferred and made payable to
"the treasurer Of the state OF Ohio and the comp
sroleI Of the treasury Of the state Of Ohio for the
use or (naming tho particular banking company
Gates so deposited aud that have heretofore
been deposited, shall bo subject to sale and
transfer upon tho written authority of tho troas-
urer Of state, the comptroller Of the treasury, aud
Of the president or cashier Of the particular bank
ing company owning or depositiug the same, and
not otherEise, except hereinafter provided; and
all Of such certificates SO deposited as shall be
payable 20 any person or persons, corporation or
banking company or order, or assigns, or boarer,
or as shall bo transferable BY delivery, shall by
special Endorsement thereon be assigned TO the
treasurer and comptroller for the use Of the bank
ing company owning and depOsting the same, In
manner aforesaid; and such certificates shall be
80 assigned and deposited, and such as have here
tofore been deposited shall be transferable BY
Endorsement Of the treasurer and comptroller, BY
special indorsement to the banking company
owning or depoeiting the same or to such person
or persons, company or corporation, as the presi-
dent or cashier Of the proper banking company
shall authorize Ia writing, and not otherwise, ex-
oept as hereinafter provided; but no such transfer
or assignment shall be made unless the banking
company owning or dopositing such certificates
she'll be entitled thereto, ngreeably 10 the proYis-
ions Of he act under which the banking company
I shall have teen or anized
Sec. 2. II shall be the duty Of the treasurer o
state and the comptroller Of the treasury, forth
with TO make, and thereafter 10 keep in Their res
pectiYe departments, accurate accounts Of ccrtif.
Gates Of debt 60 deposited ns aforesaid, and Of al
certificates hereafter deposited as security for re
demption Of circulating notes Of banking compa.
mics and the treasurer shall forthwith inform th,
register Of the bank department OF the certificate Q.
that have heretofore been and that may hereafter
be deposited and II shall be the duty OF the regis
ter to keep accurate accounts thereof, and sucl
accounts, as also all other accounts pertaining tC
banking companies, shall at all reasonable time
bo open to the inspection and examination Of anl
officer or agent Of any Of said banking companies
of the governor, auditor Of state, treasurer comp
tell .gaI + Il
any commissioner appointed by the governor fo
that purpose, and OF any committee Of the genera
assemb y, or either branch thereof thereunto nu
tborEed by resolution
Sec. 3. Whenever any banking company shall
desire to have any plate plates for circulating
notes engraved, or any blank circulating note
printed, and shall notify the comptroller thereo
in writing, the comptroller shall issue an order /,
the treasurer Of state to cause the same to be on
graved, or TO be printed, specifying particularly
in the order the denomination or denominations o
the plate or plates to be engraved, or the severa
denominations Of the blank notes to be printed
with the amount Of each denomination; and tb
treasurer Of state shall strictly observe such orde
in causing such engraving and printing to b
done; and upon the delivery to the treasurer o
any blank printed circulating notes, the treasure
shall notify the comptroller and register thereof
and they, in tho presence of the treasurer, shal
carefully examine The same and make an aoooun
thereof In their respective departments.
Seo a. When banking company shall be en-
titled to receive any registered notes, the comp
troller Of the treasury shall on the written appii
cation OF the proper officers of the bank issue A.
order on the treasurer Of state therefor, and de
liver the same to the regiFter, specifying in sue
order the amount If each denomination Of unfe
gistered notes TO be delivered 10 the register; an
on the presentation of such order, and ascertain
ing from the accounts in his office that the bankin
company Is entitled to the same the treasurer Z
cts shalI he nad Ia
to tho register. who shall forthwith register an
deliver the same to the agent Of the banking com
pany, and make an account thereof; but such tote
shall not be registered delivered unless It sha1
appear from the accounts in the registers ofnc
that the bank is entitled thereto.
Sec. 8. Whenever banking company sbal
return any Of its circulating notes to be burnt tn
same shall be burned to ashes by the treasurer O
stats in the presence of the comptroller Of III
treasury aud the agent Of the hank, and four Ger
tihcates thereof be made and signed by the treas
urer, comptroller and agent Of the bank, specify
ing the amount Of each denomination of notes 5
burned to ashes; one copy of which certificate sha
be delivered to the agent Of the bank, and on
each TO the treasurer, controller and register
Sec. 8. The auditor of state shall appoint som
Suitable p-.=. - clerk ia hie .fiee, .slo .L.,
be styled the register, and be under the superyi,
ion and control Of tae auditor. The register shal
without delay, make and keep IN his Office aeon
rate accounts of all certificates Of debt now depos
ted, and that may hereafter be deposited with th
treasurer as security for the redemption of cireu
lating notes Of banking ovmpaniesi be shall ais
make and keep an account Of the amount of eae
denomination Of the notes Of each banking com
pany, delivered to such bank, md Of the amour
returned and burned, so as to show the balance {
notes ohargeable to such bank; and he shall ais
keep accurate accounts Of all notes hereafter
tered and delivered to each bank, and notes is
turned to be burnt, as at all times to exhih
the true amount Of each denomination Of reRistere
notes delivered to each banking company, an
the amount thereof returned.
Sec. z. Whenever It shall be necessary to SCI
any of the certificates of funded debt so deposit,
as aforesaid, for the redemption of the notes of
falling bank, the auditor, treasurer aud comptrol
9 Ter shall make an order on the treasurer TO Sc
such certificate and certificates and at such tin,
and times, place and places, as may be neoessar
/ to redeem the outstanding circulating notes Z
such bank, AS the same may be presented for re
demption, and produce the largest sum that ma
be obtained for such certificates; and when il sha
have been determined to make such SALE the conn
troler shall issue order to the treasurer speci
flying what certificates shall be sold, and at III
time and times, place and places of selling tn
Same; and in making such sale the treasurer shal
be governed by the provisions of the act unde
which sucL bank shall have been organized, exoep
! as provided by this act. Whom any such sale shal
be made, the treasurer shall forthwith report th
I game and the amount Of money thence arising, b
the comptroller and the auditor, who shall caus
an account thereof to be made Ia their rospectiy
. denartfnenLs and the treasurer ahaIl A.. .Lo.,a