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

Total United States i50,0oOoo si50 oO'ooo $io,0AW
The notes are to be from s. TO $1,000 ard ex'
press OF their face that they secured aud bean
tie signatures and seal Of TIE Treasury Department;
Also the SIGNATURES Of the President and Cashier Of
the Association. TIE Secretary il 10 devise 'hs
form aud emb sishmen,, and have custody Of the
dies and mAnufseture in lieu Of al taxes circu.
laon under this act or bonds deposited, each asso-
citation shall pay s,mi-aonpsly per cen; upon ths
notes received, re.lrns to be made OF the lei July
and Is, January, ard in defipls . per cent of the
capital, to be recovered for ihe Treasury. Wheu
duly issued these notes shal be Tece.ysd a. par 10
payment of taxes excses public ands, and al othes
dues to the United States except dies on importsl,
also for all salaries and ether debts owing Is toe
United Siates, except interest Oh pablo detti and
no Association shall issue any otter circulating
notes. Provision is made for tho careful record
Of transactions with Banking Associaticns acce,s 10
their books g.; full quarterly reports are to DO
made b the Controller, much the IS usual
bank reports aud abstracts thereof are 20 be pub
lished in newspaper in Washington aud one 10
New-Y0rk and separate report III the place where
the bank is, at tho banks expense. In Boston,
New-York, Philadelphia, Baltimore, Cincinnati, and
Newt Orleans, monthly publications TO DO made
Il ans bank fail to redeem It's potes the holder may
protest them before IL notary, whereupon the banb
may be- suspended by the Controller under forms
prescribed their securities forfeited to the United
States aud enough Cancelled TO redeem tho note,
refused In Care of suspension the securities to bs
sold at auction in NeN-York after thirty d6ys
notice. The Controller may, 10 promote tns
public interest, cell such stock at private sale, but
for not less than the current market value. Pro
vision ia made for appointing receiver aud othef
legal forms, in caeos Of default. When Sond
pledged for security shall be in New-fork for foD
weeks at ~ rate lees than value when pledged, aud
tie depreciation is not made good by the bank the
pavment of interest such bonds shall be suspended
and retained to make good the deficiency.
Should the bonds rise again the sccrung Interest
shall DO paid to the bauhs. Tho Controlie'
shall receive worn ont aud mu,ilA.ed notes aud 70
turn new ones TO an equal amoan1 the old ones to
be destroyed The issuing Of any other notes than
those furnished under this act d a misdemeanor.
punishable by tuo TO double the amount ssued, ead
fifteen years imprisonment The stockholders 10
associations shall not be liabe oi principal debors
or suleties TO an amount greater than three.fls o,
the capital stock paid in. the shares shall be ei0o
each; no stockhollor can sell or transfer whiie
he is liable for any debt of the association, nor
receive any dividend, Interest, or profit whi@ sneb
liability continues. The sane security, both II Aad
and amount, shall be required of shareholders as OF
other persous. No Bank shall purchase or hold iLS
own stock OF tbs stock Of any other company, unoss
in case of forfeiture % prevent loss upon Deus.
Every such Bank shall be managed by hv'
to nine Directors each 10 be sltlzen' lnd
resident in the State one year, and own "
leas, per cent OF tue capital stock up to s'OoVVV'
4 ler cent if over that. Every banA shall always
have on hand in lawful money at least % per cent
OF its outstanding notes aud deposits. They shap
not hypothecato notes to procure money 10 u
paid in ON their own capital stock. or used 10
other banking operations No bank Nal s's'