The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1859-08-10
WHOLE NUMBER 592.

ton, as the president or cashier of the prop.
er banking company shall authorize in writ
ing, and not otherwise, except as hereinafter
provided but no such transfer or assign.
ment shall be made, unless the banking
company owning or depositing such certif-
Gates, shall be entitled thereto, agreeably to
the provisions OF the act under which the
banking company shall have been organized.
Sec. 2. It shall be the duty of the treas.
urer of state, and of the comptroller Of the
treasury, forthwith to make, and thereafter
to keep in their respective departments, ac-
curate accounts of all certificates of debt SO
deposited as aforesaid, and of all certificates
hereafter deposited as security for the re.
demption Of circulating notes of banking
companies and the treasurer shall forthwith
inform the register of the bank department
of the certificates that have heretofore been,
and that may hereafter be deposited ; and it
shall be the duty of the register to keep ac-
curate accounts thereof and such accounts,
as also other accounts pertaining to banking
companies, shall, at all reasonable times, be-
| open to the inspection and examination of
any officer or agent of any of said banking
companies the governor, auditor OF state,
treasurer, comptroller, and attorney general,
or either Of them, or any commissioner ap-
pointed by the governor for that purpose, and
of any committee of the general assembly,
or either branch thereof, thereunto authoriz-
ed by resolution.
Sec. 3. Whenever any banking company
shall desire to have any plate or plates for cir
| culating notes engraved, or any blank circu-
lating notes printed, and shall notify the comp.
| troller thereof in writing, the comptroller,
shall issue an order to the treasurer of state
to cause the same to be engraved or printed,
specifying particularly in the order the de.
nomination or denominations of the blank
notes to be printed, with the amount OF each
denomination ; and the treasurer of state
shall strictly observe such order in causing
such engraving and printing to be done and
upon the delivery to the treasurer OF any
blank printed circulating notes, the treasurer
shall notify the comptroller and register
thereof, and they, in the presence of the
treasurer, shall carefully examine the same,
and make an account thereof in their respec-
tive departments.
Sec. 4. When banking company shall
be entitled to receive any registered notes,
the comptroller of the treasury shall, on the
written application of the proper officers Of
| the bank, issue an order on the treasurer of
the state therefor, and deliver the same to
| lhC ICSiSGclS 5uSh OLuCA tu0
t amount of each denomination of unregistered
notes, to be delivered to the register and
I on the presentation of such order, and ascer-
tanning from the accounts in his Office that
the banking company is entitled to the same,
the treasurer Of state shall deliver the notes
specified in such order to the register, who
shall forthwith register and deliver the same
to the agent Of the banking company, and
| oko fhoroof. huf ounh
. shall not be registered or delivered unless it
shall appear from the accounts in the regis
! ter's Office that the bank is entitled thereto.
{ Sec. 5. Whenever q banking company
shall return any of its circulating notes to
\ be burnt, the same shall be burned to ashes
: by the treasurer of state, in the presence of
d the comptroller Of the treasury and the agent
e of the bank, specifying the amount of each
g denomination of notes so burned to ashes 5,
J.. one copy of which certificate shall be deliv.
It cred to the agent of the bank, and one each
/. to the treasurer, comptroller and register.
{. Sec. s. The auditor of state shall appoint
i some suitable person as clerk in his office,
e who shall be styled the register, and be un-
h der the supervision and control of the audi.
8 tor. The register shall, without delay, make
!. and keep in his Office accurate accounts of
If all certificates of debt now deposited, and
e that may hereafter be deposite! with the
IS treasurer as security for the redemDtion of
j. circulating notes OF banking companies he
shall also make and keep an account of the
;e amount Of each denomination of the notes Of
each banking company, delivered to such
bank, and of the amount returned and burn.
@ ed, so as to show the balance of notes charge.
able to such bank and he shall also keep
o accounts Of all notes hereafter registered and
delivered to each bank, and notes returned
to be burnt, 80 as at all times to exhibit the
true amount of each denomination of regis.
fe tered notes delivered to each banking coma
w pany, and the amount thereof returned.
.ir Sec. 7. Whenever it shall be necessary
to sell any of the certificates of funded debt
al so deposited as aforesaid, for the redemption
r. of the notes of failing bank, the auditor,
nd treasurer and comptroller shall make an Or
it. der on the treasurer to sell such certificate
of and certificates, and at such time and times,
he place and places, as may be necessary to
1g redeem the outstanding circulating notes OF
he such bank, as the same may be presented
nd for redemption, and produce the largest sum
ry that may be obtained for such certificates
ed and when it shall have been determined to
nd make such sale, the comptroller shall issue
to an order to the treasurer specifying what
e. certificates shall be sold, and the time and
ng times, place and places of selling the same;
OF and in making such sale the treasurer shall
ed be governed by the provisions of the act un-
n. der which such bank shall have been organ
ill lied, except as provided by this act. When
th any such sale shall be made, the treasurer
re- shall forthwith report the same and the
all amount Of money thence arising, to the
ire comptroller and the auditor, who shall cause
all an account thereof to be made in their re-
of spective departments, and the treasurer shall
in be charged with the money as redemption
80 fund, and all payments made by the treasur.
ny er for the redemption OF the notes OF bank
led shall be upon the warrant of the auditor, at
ns- in other cases all notes presented for re-
rer demption at the treasury, shall be burned tc
of ashes by the treasurer in the presence of the
lse comptroller and register, and certificates oi
pa. such burning signed by the treasurer, comp.
md troller and register, shall be made, and &C.
we count thereof kept, as in other cases.
ect Sec. 8. If any banking company shall
or. fail to transfer, and keep deposited with the
Ter treasurer of state the amount CT securities
sh. for the redemption of circulating notes, re-
m. qured to be deposited by the act under which
er- such banking company shall have been Or
all ga nized or shall fail to mako the quarterly
be returns of the condition OF the bank, or to
ra- keep on hand the amount of coin and its
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