The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1859-04-20


ssnce, in which caseehis,p place shall be sup
piled by any other Director who may be
chosen BY the Board to preside during his
absence. They shall have power to make
all necessary arrangements for their con-
yenience and comfort, together with such
Laws and Regulations for the government
oftheir own body, and the Stockholders gen.
orally. as may accord with the Charter and
Bylaws. They shall Likewise have power
to fill all vacancies in their nwn body, but
they shall not be allowed to borrow the funds
Of the Institution. except by the unanimous
vote Of the Directors, upon note or draft
having two or more good sureties.
SIC. s. II shall be the duty OF the Presl-
dent to preside at the meetings OF the Board
OF Directors, to call special meetings OF the
same when deemed necessary, and see that
the Charter and By Laws are duly observed
and strictly enforced. and shall discharge
such other duties as may be assigned him.
SEC. 4. II shall be the duty Of the Cashier
To attend all meetings Of the Board Of d.
rectors, to act as their Secretary. take charge
pf the funds Of the Institution subject to
the order Of the Directory, to keep and
write up the books Of the Institution. file
shall also attend at his Office, or such 9TH
er place as the board may designate. on
such days and at such hours as the Board
may appoint, for the purpose Of receiving
moneys due the Bank. and deposits, for which
he shall issue certificates dated on the next
succeeding discount day. The certificates
Of de post thus issued shall be cut from a
book having marginal entry Of deposit. For
these and all other services and duties which
he may be called upon to perform. he shall
receive such annual compensation Jas the
board may in their discretion allow.
lie shall. before entering on his duties,
give bond with security to be approved By
the Directors in the penalty &c ten thousand
dollars. payable to the I" llillsborough Sa.
wings Institution" conditioned to the fal-
lowing effect:
The condition Of the above obligation il
such, that whereas the above bounden A. Is.
has been duly appointed Cashier Of the Hills.
borough Savings Institution if therefore
the said A. b. shall well and truly perform
the duties required Of him By the BY. Laws
Of the Corporation during his continuance in
office. and truly account for all moneys re.
csived BY him as the Cashier aforesaid. and
moreover shall deliver all the books. papers
and effect Of the Corporation entrusted ia
him, to his successor in Office, or to such
other person as the Board Of Directors o.
said Hillsborough Savings Institution may
appoint, then this obligation to be void
Otherwise to remain in full force aud effect
Which bond shall be deposited with the
President for safe keeping
lie shall give new bond with security tc
be payable. conditioned and approved Of
whenever required so TO do by the Board
and for failing so To do. shall be removed
from Office at the next meeting of the Board
unless satisfactory reasons for delay shall b.
given. The Cashier may resign his ofiic,
at any time, upon giving thirty days notice
Of his intention to the Board Of Directors.
SIC. S. Each Stakeholder shall have III,
privilege on discount days. alter the Boart
sdjourns. Of Inspecting their proceedings.
ARTICLE iy--DIsc0uNTs.
SECTION l. No paper shall be discounte,
or purchased against which there shalt b.
more than one dissenting voice.
SEC. 2. Every note or draft shall have a
least two satisfactory sureties, or endorsers
and no Director shall be surety.
SIC. 3. No Director shall impart TO an,
person or persons who are not Directors
any information which may be given touch
ing the circumstances Of any one in the ma,
tiers relating to this Institution. or disclos
his vote or the votes 81 others.
ARTICLE s-DePosITs.
SEcrIos 1. This Institution will receiy
on deposit all sums 81 money which NAV b
rendered 10 the Casa.gr d any person q
persons. except Slaves, bat 40 certificate d
Deposit shall be issued Tor less san tha
Ave dollars. The sums 80 deposited shal b
called the Savings Fund. 30, this institu
ticn reserves to itself the privilege d re
ceising or rejecting deposits in such case
as the board may deem expedient.
SIC. q Interest on deposits shall be al
lowed 10 depositors al the rate Of three pc
cent. per annum on all sums remaining o
deposit for the space Of sixty days and IN
der four months over four months and unde
sir months al the rate Of four per cent pc
snnum. and over six months at the rate ,
five per cent. per annum. The interest
commence ten days after the date Of III
certificate q deposit, and cease ten days b
fore the withdrawal /; aud no deposit shall i
withdrawn until after ten days previous ne
tiee. f the same be required by the Cashe
At the time uf making the demand.
. But the Board of Directors may make spc
rial contracts Of deposit at lower rates !
interes, and longer term on all sums whal
sOeSer.
Deposits will be received and paid OF
during the hours prescribed for the atter
dance Of the Cashier at the office Of this Il
st,tution. upon The check Of the depOsito
but no certificate will be Issued for deposit
thus made.