Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1863-04-04

Sec 90 And be It further enacted, That it shall
be the duty OF the Comptroller OF the Currency to
report annually to Congress- at tho commencement Of
First. summary of the state and condition Of
eEeEy a1sociation from WhUn reports have been re-
celTCd the preceding year, at tho several dates to
which such reports REFER, with AN abStroct Of the
whole amount OF ban King capital returned by them
OF the whole amount OF their tebts and liabiItirs
the amount Of circulating netes outstanding and the
total amount OF means and resOurces specifying the
several returns, and such other information In relA
useful. 1'' @ 20 -
Second "A statement Of the associations vhc.e
business has been closed during the year with t;,e
amount OF their circulation redeemed, and the
amount outstanding.
Third. To suggest any amendment to tho lav-s rs
latire to banking by which the sySten NAV be i'm
proved and tho security of tho bill hoIers and de-
posstors may be increased. -.
Fourth. 10 report the names and connsnsatton of
the clerks employed by him, and the whole amount
Of the expenses of the banking department durine
the year. And sucL report shall be made by or he.
tore the first day OF December IN each year; and tie
usual number Of copies for the use Of the asnats nd
House. and one thousand copies Tor the nae Of te
Department, shall be printed by the public rrIntCT
readiness for distribution on the hrat meeting
{ Sec. 81 Aud bo It further snaoted That anv bank.
Ing association or corporation lawfully in eTistence
As bank ofcirculati0n tho first of ofJanuary ammo
Domini eighteen hundred and sixty-three orSaniyed
In any state either under special act of lIlcorDo
ration or general banking Law, may at any time
eithin--yeaEs after the passage OF this act he.
come an association under the prOVisicns OF this act:
that In such case the CettSRte asEoclatIop pryi
ded for by this act shall be sgnsd by the drsctory
OF Snch bAnEtng association corporation, and IL
afditon to the specifications required by this ACT
shRll specify that sucl directors arc authorized by
e owners Of two thirds Of thocapital stock ofsue6
banking association or corporation to make such
certthcate Of OF association, and such certiacate az
association shall thereafter have the aae effect and
the same proceedings shall he had Thereon a fs
provided for as to ether associations organEedunder
this act. And such association or CORPORATION ther
after shall have the powers and priYile0es and
and rules In all respects, as is lare 6rescrfbej in
this act for other associations organized under it, and
this act. tsV T97E !ttSs - - - -''4S ~
Sec SO. And be itfurther enacted, That any bank
OF banking association authorized by any State Law
to engage In the business Of banking, and duly or:
EantEed under such State law at the time the pas
sage Of this act, and which shall be the holder and
owner of United States bonds to the amount Of nifty
per centum Of Its capital stock, transfer and de-
liver to the Treasurer Of the United States such
by this act; and upon making such transfer and DE-
iVery, such bank banking association slal be en.
titled to receive nom the Comptroller the CurFen-
81 eircplatipg tes, as herein provided, equal In
Smount to eighty per centnm of the amount Of the
bOHdS 90 Transferred and delivered.
Sec. 90. Aud be It further enacted, That upon the
failure Of any such State bank or banking a1Socia
tiOn to redeem any Of its circulating nOtes lSSued
under the provisions Of the preceding section the
Comptroller Of the Currency ShAll.l when satfsffed
that such default has been made; and within
to declare the bonds Transferred and delivered
70 the Treasurer forfeited to the United
States. and the same shall thereupon be for
felted aEeordipgly And theregpon the circulating
banking be redeemed and paid at the
Treasury Of the United States, In the same manner
As other circulating notes issued under The proTi-
aiops Of this act are redeemed and paid.
Sec. q. Andbe 1t further enacted, That the bonds
forfeited, Gs sprOVded n the lait preceding section
may be cancelled TO amount equal to tho circuIl.
ting notes redeemodand paid, or such bonds may be
sold under the direction Of the Secretary Of the
Greasury; and after retaining out of the proceeds
SUM sufficient p pay the whole amount OF circuIa-
ting notes, for the redemption Of which such bonds
are held the surplus, u any remains shall be paid
to the bank banking association from which such
bonds Wer6 refefVed. tHiiis55i IS
Sec. 6b And be It futther enacted, That Congress
reserve! the right at any time TO amend, alter,
repeal this act lti i = gi5ifssY 5lsi * ~ 4
s Approved, February Is, 1858. -