Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1859-02-24

slastyea,. >
The stock onT hand and on ship-board at all the
ports, up to the latest dates amounts to 1876
724 bales being 345, 1874 bales more than the
stock on hand Of the corresponding date last year.
---ASAs<---
- An Act
To requlat The mode Of elecng Dir,ctorscf the Bank
Of the Stdse Of South Carolina, and.fOr otter
purposes. p
I. Be il enacted by the Senate and House Of
Representatives, now met and sitting in General
Assembly and by the authority of the same. That
the Special Joint Committee, appointed to nomi-
nate o President and Directors of the Bank OF the
State of South Carolina, ,bsrequired, Immediately
upon the passage Of this Act to- divide by lot, the
persons constituting the Board Of Directors ofsaid
Bank, into three classes to be designated as clas-
ses numbers one two and three; and that the
places of those constituting number one hall alone
be vacated at the close Of the next annual session
that class number two shall be entitled to hold
their places until the end Of the session of the
General Assembly IN The year Of our Lord one
thousand eight hundred and sixty, which shall
then be vacated and the third class shall be en-
titled to hold TO- the end Of the session Of said
General Assembly, one thousand eight hundred
and sixty-one, their places then to be vacated.
H4That Que Of these classes shall hereafter be-
annually elected by the General Assembly, to hold
for three years anles. their places be vacated as
hereinafter provided for, from the several periods
hereinafter designated the FIRST election for the
first class to take place at the next session Of the
General Assembly; the first regular election for
the second class, at the session Of eighteen hun
dred and sixty; and the first regular election for
the third class, at the session for eighteen hun.
dyed and sixty one; and, in case Of vacancies in
any class before the expiration of the term of said
Gloss, said vacancies to be filed in reference to
said unexpred Of the term: PROVIDED, That any
appointment by the Board Of Directors, to fll o
! vacancy, shall continue until election shall be
held by the General Assembly, at its next ensuing
session, and no longer.
III. That the General Assembly shall, at any
time, have full. power and authority, by joint
resolution of the two Houses, to yacate the seats
of the entire Board, and elect the whole of the
| Directors, anything in this Act to the contrary
notwithstanding: Prouided, That, immediately
upon such election, the Board be divided into
classes according to the provisions Of this Act
and shall hold their seats for the time and on the
tterms therein set forth. - :
", That the Rfty section Of an Act, entitled
AN Aot for the suspension Of certain sections or
certain Acts, and for other purposes passed on
the tNenty-6rst day of December. in, the year Of
our Lord one thousand eight hundred and fifty
seven, be and the same is hereby repealed.
| V. That from and after the ratification Of this
Act, it shall mot be hSfur for any tgent within
this State Of any bank not having corporate ezis-
teace within the State to pag out Of bis said agen
cy, and in the business thereof, or put into circu-
ation, in the transacaon ofaAs, business thereof,
or put into circulation, in tho transaction of ths
business Of the same, any bank note other than
bank notes the issue Or the bank Of whch.he is
agent, or of the banks having corporate existence
within this State and any such agent so paying
cut or putting into circulation any such forbidden
bank notes or note shall forfeit treble the amount
Of the bank note or notes so'paideut Or put into
circulation, to be recovered by aetien Of debt at
| the suit of the State, Of which recovery the in
former shall be entitled to one.half.
I VI. That the third section Of an Act, entitled
AN Actfor' the suspension of certain sections Of
certain Acts, and for other purposes passed on
the twenty first day of December. in the year Of
our Lord one thousand eight handred and fifty
seven, be amended So as to read as follows, viY:
THAT from and after the first day of January, IN
the year ofour Lord one theusssd eight hundred
and sixty, if the bank notes. issued by any bank,
and in circulation, SHALL at any time exceed, for
more than four successive weeks, three times the
amount Of gold ADD silver coin and bullion in pcs
session of the bank, Or subject to its CONTROL
within the limits of this State, as its own proper
SuCn DanR Sna1 I'VE nundfeQ COLLARS fOf
each and every successive week during which such
excess shall continue, TO be recovered by action Of
debt Mt the suit of the State; and, IN order that
such excess, when it exists may be apparent, It
shall be the duty'of the President or Cashier Of
every bank of issue on Wednesday Of every week,
to transmit to- the Comptroller General an account
of the amount Of bank notes Of such bank In cir
oulation, and also an account OF the bank, or sub
ject to its control it's own property, the pre-
ceedng Tuesday, which account shall be certified
by the oath Of the President or Cashier, taken be-
fore and certified bS any magistrate duly author
ICED to administer oaths ;'and any person swearing
falselyto any aecQunt, shall be deemed guilty Of
perjury, and shall be subject to the pains and
penalties thereof; and, the Comptroller General
sballat least once in every month collect the
accounts ofNthe weekly state Of their circulation
and specie rendered by the several banks Of issue
in conformity herewith, and publish the same so
collected in some newspaper.
And any bank the officers thereof shall neglect
to transmit to the Comptroller General any such
account aforesaid, shall forfeit one hundred dol
lars for each and every day during which the same
shall be neglected, to be- recovered by action Of
debt, at tire suit of-tiie State. "a =
In the Senate House, the twenty first day of De.
cember, in tho year Of our Lord one thousand
. eight hundred and ffty-eight, and in the eighty
third year Of the sovereignty and independence
ofthe United States of. America -..r
, WILLIAM D. PORTER, T..
President Of the Senate. :
JIMFc SIN0NS