The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1859-03-15

what places SSued debts due 10 otner Dahks anu
what banks and all other particulars necessary to snow
the debit side the account also the amount OF specie
on hand debts due from other banks and what banks
real estate the amount of notes or bonds discounted
and of bills of exchange, showing in one item the
amount due from directors and in another the amount
due from stockholders and directors, but in no case
designating the name of the Debtors and all other
particulars to show the true condtlon OF ne
credit side of the account which statement, together
with of the dividends which shall accrue
from time to time upon the stock of the bank the pub
lie treasurer shall lay before the general assembly
Sec. 81 Be it further enacted That there shall be
an annual meeting of stockholders at such time and
place they shall appoint.
The president and directors of the bank shall also
have power call meeting of the stockholders at any
time they may think proper and number OF stock
holders holding together one-enth OF the stocK may
call a special meeting giving at least sixty days
notice. signed by each of them or by one by them
duly authorized in two more gaZettes published In
the city of Raleigh in which notice shall be speched
purposes and objects of the proposed meet
ing.
Of the stockholders the stock of the State shall be
by the by such other person as
the governor may appoint
being citizens of the United States may vote either In
person by proxy at the meeting of the stockholders
and none but stakeholder shall be a proxy
Sec "a further enacted That the vote to which
each sockholder shall be entitled except the State
shall be according the number of shares he may hold
in the following proportions, that is to say tor one
share and not than two one vote, for every Two
shares above two and not exceeding ten one VOTE 1or
every four shares above ten and not exceeding thirty
vote for every six shares above thirty and not ex-
ceeding sixty, vote, for every eight shares above
sixty and not exceeding hundred one vote, for
every ten shares above hundred and not exceeding
two hundred vote, for every twenty shares over
two hundred one vote and the of the State shall
be in the ratio compared with the whole num-
of individual shares represented is the stock OF
the State, compared with the stock held by other
stockholders.
Sec %. Be it further enacted, That majority of
the directors of the bank three of the directors
the branches shall constitute board for the trans
action of business of whom their respective presidents
shall be one except in Of sickness necessary
Absence when his place may be supplied by any other
director whom he by writing may nominate; and If no
such nomination be made the board present select
a president for the time.
Sec g. Be it further enacted, That the lands, tene
ments and eredtaments which the corporation may
acquire, shall be requisite for the convenient ransac
ton ofts business and for the accommodation of its
officers, agents. servants and such may have been
bona tide mortgaged to it by way of securing, con-
veyed it in satisfaction of debts previously contract
ed in the ordinary of business purchased at
sale judgments as DEGREES rendered IN favor of the
bank.
Sec 81. Be it further enacted, That the corporation
shall not deal except in gold silver coin bullion,
bills of exchange mint certificates bonds pro misory
notes. expressing the face of them to be negotiable
and payable at the bank some of its branches or
agencies and in the public debt Of the United States
of this State Prorided That investments in such pub
lie debts and securities shall not exceed at any
tme one-half of the capital stock of the bank.
Sec %. Be it further enacted That the bills notes
which may be issued by order of the corporation sign
ed by the president and countersgned by the cashier
of the bank promising the payment of the money to
any person his Order to the bearer shall be bind
ing'and obligatory on the same, in like and
with the like force and effect upon any private
person issued by him in his private natural capacity
and shall be assignable by endorsements; and those
which payable to bearer, shall be negotiable and
pa able by delivery only.
Sec 20 Be it further enacted That no NOTE checks.
order, draft or promis to pay money shall be made,
drawn, or issued by the bank for less than five
dollars; and every note bill other species of paper
intended for circulation, of greater denomination
than five dollars, shall be a multiple of five; and
certificate ofdepose: or other acknowledgement Of in
debtcdaeSs shall be made, drawn, or issued by any
cashier, teller, officer of the ba *, for any less
than twenty dollars: Prorided That the Legislature
at time hereafter restrain the bank from issu
ing any note of less denomination than dollars
Sec. 30 Be it further enacted, That the bank shall at
time have in circulation than twice the amount
of its capital actually paid in, more than three
times the amount Of its specie on hand.
Sec. 81. Be it further enacted, That the bank shall
not take than at the rate of one-half of per
centum for every thirty days for of its
loans discounts which may be received in advance at
the time of discount.
b. BE it further enacted That if the holder of any
note issued by the bank shall demand payment thereof
at the place where such note is payable and the
shall not be promptly paid such shall draw inter-
est at the rate of twelve per centum per annum from
the time of demand until it shall have been paid and in
case of suspension of specie payment by the bank
unless upon the advice of the governor and council,
given in writing, the bank shall pay into the public
treasury and it is only hereby made the duty of the
public treasurer collect it the of per cent
per annum the amount of its collection the date
of its last published statement for the time it shall
main suspended and if any note shall be payable at
branch agency which before the same is presented
for payment, shall have been Discontinued the said
note shall be deemed to be due and payable at the
principal bank.
Sec. 50. Be it further enacted That no director or
other officer clerk of the said bank SHALL directly or
receive any compensation for any agency
for negotiating any business with the bank or its
branches, in procuring discounts, renewing notes or
receiving money from individuals. notes discounted
and any director other officer clerk so offending
shall he removed from office and disqualified from
Thereafter holding office in the bank its branches
Sec. "a Be it further enacted. That if any officer or
director OF the bank, any of its branches shall re-
ceive any gt gratuity reward from any person in
consideration ohis obtaining for such person any loan
or bank accommodation if any such officer or direct
or shall discount or purchase note bill with his
funds and shall afterwards place the same in bank
as the property of said bank all persons so offending
shall be deemed guilty of misdemeanor and upon
)nvctiOn in the superior shall be fined and i'm
prisOned at the discretion of the court.
Sec. 35. Be it further enacted That the bank shall
Mt all times when required receive deposit at their
principal bank, any of its branches or AGENCIES to
the credit of the treasurer of the State much of the
public moneys as he may offer Deposit Prorded The
same shall be in such funds the bank at the time is
from other depositors
Sec So Be it further enacted That the cornorat;on
shall be answerable times for any violation of its
corporate privileges and duties and shall be prosecuted
IN the manner provided by law, whenever the legsla
lure shall direct.
Sec 81 BE it further enacted That any committee |