Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1859-03-09

be prosecuted in the manner provided by law,
whenever the legislature shall so direct.
SEC. 81. Be it further enacted, That any commit
tee appointed by the legislature for that purpose,
may at any time inspect the books and examine and
report the proceedings Of the corporation
Sec. 49, Be it further enacted That every cashi-
give bond with security in sum of not less than
twenty-five thousand dollars, conditioned for his
good behaviour and faithful discharge of the duties
of his Office
Sec 49, Be it further enacted That each cash
Ter shall keep book containing the proceedings OF
the board Of directors the names of those present,
the day and date of each meeting; and shall record
the yeas and NAYS on any question of order asked
for by any director.
This book shall be evidence in courts of justice,
and on entering on the discharge of his duties each
chashler shall take and subscribe the following oath
before some justice of the peace, by whom it shall
be returned to the office of the county court of the
county where the bank or branch, OF which he is
cashier, may be situated: s,-
la. B., do solemnly swear to keep just and
true record without alterations ensures. of the
transactions of the board of directors of the Bank of
North Carolina, Tor of the branch of the Bank of
North Carolina as the case may be- jim book to be
kept by me for that purpose. 81.
Sec. 40. Be 1T further enacted That fany cashier
or other officer servant agent of the corporation
shall cmbeZzlc or fraudulently convert to his own
USE or shall fraudulently take or secrete, with in
tent to convert to his own use any effects or prop
erty belonging to, or in possession Of the corpora
ton or belonging to any person, and deposited in
the bank or any of its agencies, OF shall make, or
cause to be made, any false entry upon the books
which contain any of the proceedings or transactions
of the corporation, with intent to defaud the corpo
ration any person whatsoever, such officer, agent
or servant so offending, shall be held and deemed
guilty of felony, and upon conviction thereof in the
superior court shall be punished by fine and impris
onment not exceeding five years, and standing In the
pllory all any of them at the discretion of the
court
Sec Al. Be it further enacted, That if any pres
ident OF other officer servant of the bank shall
knowingly or willingly make, cause to be made, or
connive at making any false return, statement or
exhibit of the condition of the bank its branches
agencies to the public treasurer, the general as
semby the board of directors of the bank, any of
its branches agencies to the stockholders or
to any person authorized by the Legislature or by
the stockholders to receive the same the person SO
offending his aiders or abcttors, shall be deemed
guilty of misdemeanor, and on conviction in the SUI
pcrior court shall be punished by fine, and mpris-
onmcnt not longer than one year.
|. Sec A. BE it further enacted That all notes of
the bank intended for circulation shall be originally
issued at the bank or branch at which they re-
deemable.
Sec 43. BE it further enacted, That the bank
shall lend to the State, upon ninety days notice,
such sum of money as the State may require: Pro-
rided, The bank shall not be compelled to make
loans to the State when its Indebtedness to the bank
at any one time, amounts to 100000.
SEC A. Be it further enacted, That in any suit
to which said bank is party, in interest in which
the question of usury is involved any cashier agent,
or officer of said bank shall be competent witness
said hapl. theta caShi
agent officer may be the payee, drawer, acceptor
or endorser of the bond note, or BILL or other secu
rty or evidence of debt sought to be impeachel or
avoided, or which is alleged to be usurous.
SEC. As. Be it further enated That whenever
this bank has any demands upon any person or cor
poration it shall be lawful for said person corpo
ration to pay and discharge such demands in notes
of said bank without regard 20 the place where the
same may be payable and demandable, and the ten
der of such notes in payment or discharge Of any
such demands, any part thereof shall be good and
| valid in law; and the person corporation upon
whom such demand is made, SHALL in payment of
the same, first the notes of the bank or branch
which makes the demand in case they have the
| same on hand at the time of the demand made
Sec. 46. BE it further enacted That as soon after
the organization Of the company under the charter
as is practicable, they shall establish a branch Of
their bank at the town of Wentworth in the county
| of Rockingham: PrOrided, The sum of fifty thou
sand dollars or more shall be subscribed towards the
capital stock by persons residing in said county.
SEC. At. BE it further enacted, That each share
owned by individuals shall be subject to annual
tax of thirty cents which shall be reserved out of
the profits of individual stock they accrue, by the
cashier Of the principal bank and paid to the public
treasurer on or before the first day of October in
each and every year; which tax may be increased
at any time not exceeding one dollar for each and
every share as the legislature may direct and the
exigency of the State requires in equalizing taxa
ton Prorided, That the tax in this case shall not
be greater than that imposed shares in such other
banks as may be chartered at any other succeeding
! general assembly: And procided further, That
nothing herein contained shall be SO construed as
to restrain any future general assembly from taxing
dividends belonging to individuals or corporations;
said tax not to exceed that which may be imposed
on interest received for money loaned: Prorded
FURTHER That any real personal estate which the
bank may at any time take in payment of its debts
SHALL whilst held by them, be subject to the same
tax other property Of the same kind held by in
dividuals.
Ratified 18th of February, 1859.
THOMAS SETTLE, Jr., S. H. c.
HENRY T. CLARK, S. S.
STATE OF NORTH CAROLINA,
Office of Sec'y. State
I, Rufus H. PAGE, Secretary of State in and for
the State Aforesaid do hereby certify that the lore
going is true copy Of the original file in this
Office.
Given under my hand, this I'd day of March, 1859.
RUFUS II. PAGE,
Secretary Of State
THE UNIVERSITY.
From the Raleigh Spirit of the Age.]
UNIVERSITY OF NORTH CAROLINA,
Chapel Hill, Feb 10Th, 1859.
To the Editor Of the Spirit Of the Age
The misconception and Misrepresentation prevail
ent to extent, in relation to the organization
of the Trustees and Faculty of the University, will
probably justify if in your opinion they do not i'm.
peratively require, the publication of the following
statement: '.F -