Delaware State journal and statesman. [volume] (Wilmington, Del.) 1855-1870, 1863-03-06

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liability is past due and unpaid shall be allowed 10 vote
Sec. 3d. And De il further saaeied, That tho affairs
every such association shall be managed by not less ha
tve nor more than niue directors one Of whom shall b
president of the association Every director Hha durn
MS whole flrm Of service 10 citizen of the Unite
States and resident of the s. te In wi oh such assoe
ton Is located At least thn fourths OF the director
shall have resided in the State in which such association
Is located " next preceding their election eC
tors and each director shall in his own right ii
least per eentum Of the capital stock Of such
citation not exceeding two hundred thousand dollars an
the half Of per centrn Of it's capital II hun
ded thousand dollars Each director shall take oath
that he will 80 far as the duty devolve on him, dgent
y and honestly administer the affairs Of such assoca
tion, and will not knowingly violate, willingly psrli
to be violated any Of the prov sons OF this act aHd tina
he s the bona de in his right OF The share
ofstock standing Ia his name on the books OF the aso
citation, and that the same Is not hyp0hecaed In
owing to the association Of which he Is director whcl
oath, subscribed BY himself and certified by the ole
before whom 1t Is taken, shall be Immediately transmit
TED to the Comptroller Of the Currency aud by bm filed
| and preserved in his oilire
Sec, ~. And be aJrthcr enacted That the directors
any such association FIRST ehetd shall hold their plaee
until their shall be slto and qualified Al
subsequent elections shall be held ually such
in tho month Of January the stockholders of said asso
citation may prtscrbe and the dir atoru elected sha
hold their places for year, and until their successors
are elect d and qualified. But any director removing
from the Stat eeasng To be the Of the requi
site Of stock shA thereby his place ANY
vacancy in the Board shall be filled by appointment by
the remaining dir The dir ctor appointed shall
hold his place until Tire next annual electo1 and t
from any . election Of directors shall not be made
at the time appointed, the OciatOn shall not for that
cause be Dissolved but an election may be held any
subsequent day. thirty days notice thereof having been
given In newspaper prin' ID, Of general circuaton
In the city, town county in which the socaton is
located and II newspaper is published In such city,
town county, such notice shall be published in
| paper in the county adjoining.
Sec Al. And Be Il further enacted That every such as
soc alton shall at all times have on hand In lawful money
Of the United States an amount equa to at least twenty
five centum Of the aggregate amount ofts outstand
ing Of circulation and its deposits and whenever
the amount Of Its outstanding noes Of circulation and
all
space of twelve days, whenever such lawful money
the United States shall at time fall below the amount
oil twenty-five per cenum OF Its circulation and deposits,
such aFs'iation shall not increase its liabilities by
mailing any loans discounts otherwise than by
diseountng or purchasing bills Of Exchange. payable
sight, make any dividend of it's profits, until the
required proportion between the aggega amount Of Its
outstanding notes Of circulation and M deposits and law
ul money Of the United States shall be restored Pr
Uided hOgeuer That clearinghouse certificates repre-
senting specie or lawful money specially deposited for
the purpose of any clearinghouse association, shall b..
deemed to be lawful money In the possession any
citation belonging to such clearinghouse holding and
owning such certificates aud considered to be part of
the lawful money which such association is required to
have under the foregoing provisions OF this ectiOn IT
uided further That any baanee due to any association
organized under this act In other places from any
citation in the cities Of Boston, Providence New York
Philadelphia, Baltimore, Cincinnati, Chicago Saint Louis
Or New Orleans in good credit subject to be drawn for
sight and available to redeem their circulating notes and
deposits may be deemed to be part Of the lawful money
which such association in other places than the cities Of
Boston, Providence New York, Philadelphia Baltimore
Cincinnati, Chicago Saint Louis and New Orleans,
required to have by the foregoing provisions Of this
TON to the extent o. thre hhs oi me SAID amount Of
twenty-five per eentum required And u shall be oompe-
tehtor ne comptroller the currency TO houy any sucn
association whose lawful money reserve IS aforesaid
small iall below sara proportion OF twenty-five per
eentum, to make good such reserye and II such assoca
non snail A or thirty days therealef 50 10 maze good
its Of lawful money Of the United States the Comp
rolle may with the Of the Secretary Of the
Treasury appoint receiver to wind up the business of
suen ass'elst91, So @ E. rs PROVIDES n ms & Az
rec, ~ and Oe HJurAr en ioled Inat no association
a. any ne o1 nueDteo; o ~ N shy way ape 10 ~
amount exceeding the amount OF s capital stock q such
time actually paid in, and remaining undiminished by
LOSSES oI otner"ise except On tne ioo"hs accounts,
that Is 70 say;
rst On account Of It's no. Of circulation.
seu9a' Oh account o. moneys ueposi'ea WIN or COL
leetsd BY, such association;
LnIa W Aeeouni oi pp o. exehangs OF draifs 9raWn
asSeca.ioni or Que lneIeto, ,,,,, j.. .,,,,
iorM ~ on account 81 Liabilities 70 i's for
money paid IN on eapih STOCK, ana dNuenas thereon
anu Iese.Feu ~ a Brton,s t.s , .,, mt.
sec 10 d"u Oe uJhtner eRuced Ihat no association
SNAIL ei,eI H., Si.eeis nr Peuse g hypotnecAte
sny 2 ~ US nutes u tor W. purpose o p2
curing oAey % De paid IN on IT'S capital Stock or to be
used IN Us bA9king operations, or Otherwise
oeo, - -lnu Oe ttlaIH ,seste9, lnas NO ass9vlaon
or any member Thereon shall during the time 1t shall
eonunue ~ pAnAns operations Wnarawi OF permit te
pe NitngrAWni either N lorm OF ailasnas loans 70
stockholders for longer time than blk months or In any
que, anneI, any potuoh ol us sAPual anu Il losses
shall at any time have been sustained by any such asso
caon equAl y or eXcee9ng lts UNDIVIDED pronts then
on mana, no dividend sha De made ana no dividend
sna eseI ne made oy any assoeA'on while II shall COZ
US net ptonts tnen on mana, deauetng tnerefom Us
losses anu Gsa debts ana al aee que 70 sny assoela
on' On Mun interest ~ past Jus Anu unpaid ior Pc
rlou o. s1 Months' unless le same sha pc well So
euieu anu aua oein ptoees, VI euneoon, shA % con
ea uAa uy9.s =. wth UNI w LeAnius o rms M sol
eeo so' Ahh oe y9IMeT euteu, mat tne directors oI
every assoGllton snail semfsnnuay, "a ths months oI
.y nay ana november deeiae alsldenu OF So much OF
dent and on each dividend day the cashier shall make
and verify by his oalh full, clear and accurate state
ent OF tne eohuon OF the association alt snail De on
that day aiser declaring tho dividend which statement
shAil contain!
tlFst Ine amount ot the capital STOCK actually paid
citation.
Scoaaiy Ihe amount OF the circulating notes OF such
association hen IN circulation.
iHifaiy The greatest amount in circulation at any time
sinee thu mating OF the last previous statement as shall
have been exhibited by the weekly statements Of the
cashier, specifying the times when the same occurred
f0mWfy' lhe amount OF oalAnees anu uebts OF every
khg tst dIs 70 r S.neT pass an1 osnnS assOeiaons
crynty' % %The amount due 70 dep9shors - ,,,,
Shhiy The to- amount Of debts and liabilities OF
every aeserpuon ana lhe greatest amount since the
making OF the last previous staement specifying the
time when the same accrued
Sspenthy The tal amo mt of dividend declared on the
day Of making the statement.
Etghtaly The amount OF lawful money Of the United
states belonging 10 the association aud in its possession
at the time Of making the s'atement.
Nlnthy. The amount subject TO be drawn at sight, in
lawful money OF the United STATES then remaining on
deposit with any associations banks or bankers speei-
lying the amounts 80 on depott in the cities OF Boston,
Providence New York, Philadelphia, Baltimore, Cncn
matt, Chicago St 'uls and New Oileaus.
lenuy mo amount then en- hand Of ois or notes, Is
sued by other banks and banking associations.
Etsreathy Theamount ofbusness due from other banks
bankers and banking assocations excluding deposits
subj TO be drawn at sight as Aforesaid
I0eyhy The amount on hand OF bills, bonds, stocks
notes and other evusnees OF debts discounted or pur
chased by the association, specifying particularly the
amount OF suspended debit the amount considered bad
the amount considered doubtful aud the amount In suit
or Judgment
IhlIfeentiy The value OF the real and persoual pro-
pery held Tor the convenience OF tue association, spee
lying the amount of each
Fonrieentuy. The amount OF real estate taken In pay
debts dua to the aaa0giatOu