New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-02-21


tie sso 10 not hypi,hecsted any pledged "a So
onv q, an, ooaned debt owing 70 The association
and a. G Il by the officer besTe whom Il H. taken cha De
1,a~d,aly ited 10 tue Controller Of the Currency
a,d by b'ru q ed SD presrrved in Ills o'hee.
SEC 40 And he Il further cnlcied That the directors o.
,py .uch alton fret scted shall no their places nn
t1sr .uoc--ors ,hall be elected and qualified All ub,e
aneu, elections tha 30 held aunniy such Gay IN the
an nth OF Jaansfy the khOter Of said 'sccaion mas
prescribe tho diree elected shall hold their places
fr one We aud until their elected aud qns
ei Bn Any director removing from the state or cos'Ds to
tie Of the requisite amount Of stock shah thereby
v,cao hs place. Any Ia the Board shall be tiled 10y
snpoutmelt by the remaining directos The director 20
appointed shs hold his place until the next ennu election
and IT, from any caus election Of directors shall not be
ale at appointed the socsou shall not for that
csr,e be Dissolved bat election be held sny ubse
auen; day. thirty days notice thereof having been given In
printed at general circulation. in the :ty,
comfy n which the aocson is locltet aud II no
newspaper published in such city town county such
notice shall bs Published in newspaper In tie county od
j'inipa
SIC Al And b. II further enacted That every such
ola ion hs oil times have hand In lawful money OF the
Uued States, mn amount o1na to Il ies "cnty,hyo per
of tho aggregate amount Of m outstanding notes Of
circulation and It's depos and whsnevsr tho emount Of its
ou-tsudne Of ccnnon and deposits shall exceed the
ahov-nsmed proporoa for the o. twelve days or
time fail below The OF twenty-five Per centum OF is
circulation aud deposits such association shall not inere,e
s bilii.s by making any new loans discounts otherve
hn BY dsccuun. purchasing bills OF EXchargs payabe
eight any dividend Of It's profits until the required
creus ion and Its deposits aud lawful money OF tho
Untd States sha be restored Provided however That
specially deposited for the pupcre Of clearing house
citation sbs be deemed be lawful money in tho possession
and owning such cehses end considered to be pant of
tho lawful money which such association required to have
under the foregoing provisions OF this secnn Provided fur
thsr That sny balance due TO association organized IN.
der h' act other place. from shy In Inc cities OF
Boston. Providence, New-York, Phads phs. baltimore,
ciuciunst Chicago Saiot Louie New Orleans in good
credit subject to be drawn for at ,gh and Available to
b.. Of the Sfa money yhch such ..oeaton 20 other
pl,oes than tho ciie, Of Boston, Providence
Pbsselpia, Baltimore Ciucinna. Chicago saipt Louis
Ard NewOeanS equiredto have by the foregoing pro
vision. Of this ston to the extent Of theehih Of the aid
Of twey per centrum required Aud shall 10
ooupesu, for ,hs Controller Of the Currency to notify any
spch ssocson whose las ul money reeerve 80 Aforesaid
sh fell below said oporion OF twenty-five per eetnm 20
msks good IL such association shall fail for
hIty DAYS thereafter so 70 make good va reserve OF lawn
concurrence Of the Secretary Of the .rea, 'pPon'
wind the business OF such aOcs0n e. provided
IN this set
sxc ~ And be It further enacted That no s.,oeiauon
shall q, any mo be Indebted in sny way aole 70 An
actually paid IN and remaining undninshsd by losses OF
o.hwi.e except the following accounts, that ia say;
! First: On account OF lie notes Of circulation.
Second On acrosnt OF moneys deposited wh or collected
IIira On acconnt OF bin. OF exchange or drafts drawn
sn money ncpay deposit to tbs credit Of such n'so-
FouriS: On account of liabilities to i ,ockholde for
money paid ia capital stock aad dig4ends thereon and
re,eryed pFoh',
shall either directly OF Indirectly peiio ~ hypoeelie any
n q ccaaon for the purpo'e money
b. paid 10 s capital stock oF 20 be used - It's banking
src a. And be it further s,si Tha, a.ocIation.
any thereof shall DAFT tie tae It ,ha continue
banking opeston., vithiraw or permit g. De withdraw
ci hes OF divien's loans 10 stockholders FOR LONGER
thsn ,r months. ~ % other m-n'f, any portion ~
i. capital losses shs al tine have been -u.,-ioc
10y sny such association eqa To- OF exceeding It. undivided
profits ih~n hand dividend hs b. made add 6'i
d,nd shall be made by sny s'ocaon while Il shall
celtuus ~ banking opera 20 sn amount greater tal IT,
net vr,nt. h,nd aefgctns thereom ss loses and
had deCt. ADD 800 d.l' due % auy .'ocion on which in
,fcs at dc and paid for period % "a months unless
ecoa sba DO considered bid debts within the meaning Of
th.s at
spc as AnIb. further enacted This, the directors Of
,ul Aoy.uncr declare dividend " % oh OF tie profits
urh saocson tLsy shall judge erp'fcnt. and each
dividend day e c4et snail ms'" sud vefy by hi' osth
fu ceir aud tatsner, q the condition OF the
s.,or alton {, .h.n b. ,ha, dsy afer declaring
divided, which statement 'hsil cootain;
Fh"i Tue smogat Of the csPi.ai stock actually paid
Second The smoant Of the Circulating notes Il such
ei.iior then "a c'fcals'ion.
the mailing Of tie lst previous sster s'ha have been
exhibited ~ he weekly 'taemeut OF the cashier specifying
tho time, when the occurred.
Fourth: The Of balances debts Of every Kind
doe 60 other bank, and banking .ssociAtlons.
Fitn: The .nognt due u d~pos,ors.
sI,h. The total amount OF d.ot snd ll.bis, OF every
de.cf oo. aud the greatest since asns Of tue
lest previous 'H'eueat 'peyns tho time when ho
accrued.
Seventh The total OF dividend declared the day
Of uaLios tho statement.
sh,h Tho Of lawful money Of the United State.
b~ong1s 8, l,,ocai0u, sud IN lI Possession tho time
Of msiing tho statement
hiah: N. ,moau, to be drawn At .ish, In lawful
money Of the ni~d States, thea rcmsnins deposit vh
auy aS,ocn'iors baass bankers specifying the
deposit a. tho cltiet Il Boston Providence, Ne~io
Phi ierLi Baltimore, Cincinnati. ChIcaso, ST. Louis and
New Orlcins
Tcatn The amour, then hand OF bills notes Issued
by rthrr banis and banking associations.
ey,nh The Of balances due from other banks
bat-r, tnd blnkls ssocaou excluding deposits subject
20 b. drawn at sight 4. Li1fefsd.
T~.lnb: III. smoant hand ofbil. bonds stock. notes
ard oh, eytrn,' Of debts discounted purchased b. the
debt tie sn5unt cllsiiorod bal the amount considered
donturl, ard tie amount IN snii or Judgment
1Lieoath The vaae Of the and personal property
held oT tie convenience Of tho association specify the
iuB' Of each
Fourteenth Tho OF real taken in payment Of
deLl due 10 he associ-iOn
Fifteenth Tho auoun, Of the undivided profits Of the
cston.
siresrth Tie total Of the liability to the assocs
ion by he directors thereof collectively ,pecylus me gross
sinoun Of such liabilities principal debtors and the
Tie statement tue o. slo sa forthwith be Transmitted to
SEC 90 Aud DO it fursr enacted That every association
uBy receive and charge on any loan OF discount
made an) note b oi exchange o the evidence oil
debt ol interest discount as l. Tor tho time tho
,h,d Interest, for delay In The payment Of
In the absence between the parties by the laws
the seyca states Ia which e sss,catons are respectively
looted more: Provided hO,-v-f, That inrfe ly
tcirery.d 81 advance, ~ the time Of maAr tic
or count according to tho usual rule, Of Dankng ard
Tho owl sy taking. rcs.rvins or charging Of ate OF ine
ro.t greater than thst allowed by this shall be held
And iort4e Of tho debt demand Ga which TIE
Iasn reserved, or ohared but the purchase d'
count or sale b Of exchange drawn on sctu exiting
VALDEZ and payable a. another place than tho p~o OF tach
purchase, discount or sale a. Tie current 'CouH' OF PEE
uam snail considered 40 taxing retefyns or ohas
iig interest -, -, ,,,,,..,
So a. And be u further cnscted That the total liabilities
of any person. any company hTm tncuiig In ITO
i,bia. OF company hfm the la0it, Of THE several
mrnber, thevofj any association, including liabilities
a. scc,pof o bona ie bills OF exchange payable out Of IL.
Eiae Where tho n,octon Il located sha 1t no time exceed
oneb!rd exclusive OF liabilities uceptof onetith ana
eAeis. Of abli. such bills OF -Schgnge, onctenth
p,r Of III. Of tho capital stock Of association
SIC a. Aud be II further enacted. That Nsocation
sh, At any lime pay OFT oans discounts OF IA
dra bll- oil exchange. la q" depos.,