Washington telegraph., 1862-03-12

4
January, April, Jlly and October of each
year, at the office Of the Cashier. whose
office shall be the domicl and Office of the
Company
SEC. 5. The President shall call the
Company together as often As he NAV
deem necessary at other than stated meet
ings, by causing the Cashier to give due
notice to the members OF the time of
meeting; he shall sign all notes issued.
shall certify to the monthly statements to
be made by the Cashier, shall examine
his accounts and keep himself advised Of
the condition Of the business, and exer-
else general experimenting power and
control over the affairs Of the Company,
aud shall preside at all the meetings of
the Company. ......
SEC. 8. II case Of the death Or resig
nation Of the President, the Cashier shall
Immediately give notice to the members
and call a meeting for the purpose Of sup
plying The vacancy so occurring.
SEC. 10. In case of the absence of the
President, should necessity require it, the
Cashier shall have the power to call a
meeting Of the men bers, any one Of whom
may be chosen 10 preside At the meeting.
SEC. IL. The Cashier shall sign all
notes Of the Company issued shall keep
books, 10 which shall be entered plain aud
correct accounts Of the business, which
he shal. at all times hold subject 10 the
inspection Of the President, or any mem-
Der Of the Company, or OF any committee
Of the Company appointed to examine the
same; at the end of each month he shall
furnish to the "Washingtun Telegraph" :"
2 statement Of the condition Of the affairs
Of the Company, verified By his affidavit
and certified by the President, 50 long as
the proprietors Of said paper will publish
the same free of expense, shall conduct
the correspondence Of the Company, and
shall receivc all the deposits and pay out
aud redeem ali the notes Of the Company
SEC. IL. The business Of the Com pany
shall consist in the exchange Of the notes
Of the Company for deposits Of Arkansas
War Bonds. Treasury Notes, Confederate
Notes, Louisiana Bank Notes, Gold or
Silver, which deposits shall be held sacred
for the redemption Of the notes Of the
Company.
SIC. l3. The issues Of the Company
shall be styled Exchange Notes" and
shall be issued in dcuotn nations of Ten,
Twenty five, Fifty and One Hund ed cents,
aud IN such other denominations as the ma
jority of the Company may direct, aud 10
such sums of each denomination as the
President and Cashier may deem necessa
ry or majority Of the Company direct
SEC Ia. Tie issues Of the COMPANY :
shall never at any one time exceed the
the SUN Of five thousand dp,lars except
by the consent of every member Of the
1 Company
SEC. II. In no case shall any notes be
issued until the basis for the redemption
OF the same has been deposited with the
Cashier, aud 10 greater sum shall be issu-
ed than the amount deposited, and in no
case shall the Cashier take on deposit a
larger SUN than ten dollars from any one
person or persons Al one time, aud shall
tie bound to issue to any person or per
sons proposing deposit in any Of the
funds mentioned in Section II; provided
the nu,es are On hand aad ready for deiv-
cry. Should any funds mentioned il
Section IL dcprecilte below a par value,
to receive the same On deposit or issue
notes thereon.
SEC. l6. Whenever the sum of tel
dollars 10 the notes Of this Company i
presented to the Cashier az his office,
he shall redeem the same in such funds
a. he may have then on hand and at their
nominal value, reserviDg the right 10
choose what kind Of funds lie will pay
out, but shall not be bound to redeem
fractional sums
SEC IL. Whenever any person shall
demand uotes upon deposits rendered, lie
shall be entitled to fair proportion Of all
the denominations issued, but the Cashier
shall have the right to determine 10 what
amounts he will pay ont Of each denomi-
nation.
SIC. Is. The notes of the Company
when once redeemed shall not be put in
circulation again, but shall be immediate-
ly cancelled by the Cashier.
SEC. l9. A majority Of the members
Of the Company, Or the President and
Cashier Whenever they may deem it ne
cessary, may change the style Of the prin-
ting Of the notes, and from time to time
add such checks as may be necessary for
the prevention Of frauds or counterfets.
SEC 20. As the object for which this
Company has been organized is solely With
a view to public convenience aud without
any expectation Of gain to themselves, and
as the profits thereof must be nominal, the
President aud Cashier Of the Company
shall receive the same for their labor and
trouble 10 conducting the bus Siness, and
which shall be all the compeusation 10
which they shall be entitled
SEC. 81. These Bylaws and Reguia-
tions shall not be changed 10 any wise ex-
cept BY vote Of two thirds Of the mem-
bers Of the Company.
n FEDERAL REPORTS FROM CLARKs-
VILE The following dispatch was sent
to Cincinnati after the occupation OF
Clarksvile by the Federal troops:
Ciarksville, Tenn, Feb. 2l.--Commo-
. Jora Eaoto c,mo nm the Cumberland 10