Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-03-21
.attg gat.eI,ll.lltgs.nIlter
OFFICIAL.
LAWS OF TIE UNITED STATES.
Pass.S at the Frat SssTOn Of A' Thirty
1ghrh Congress.
[rrpLlO-NO. Isl

OF REPRESENTATIVES OF tue OulIeu oLAtoe Ot
America 10 Congress assembled. That
william B. Todd, William p. Dole, Edward
CLARK, R1ward }. Simms, Jos. J. Coombs,
Z @. Robbins, ThomaS s. Gardner, John
e, Evans and samuel B. Eiles, and their
associates and successors, are constituted
aud created body corporate and polite,
BY the name Of "Tbe Washington City
Savings Bank"
Sec. !. Aud be Il further enacted, That
the officers OF said corporation shall con-
SiSt of president aud vice president, who,
together With seven trustees, shall ecuSti-
Iute board Of managers, four Of whom,
If the president or vice president be pre-
sent, shall constitute legal board Of
such board for the transaction Of buSi-
nGBS.
SEQ. .. Aud be II further enacted, That
said corporation shalt meet annually 10
the month Of April, and a. much otteuer
IS they may judge expedient, and any seven
members OF said corporation, the preSi-
dent, Seeretary, or treasurer being one,
shall be . quorum, aud the said corpora
zion a. their ANAL meeting shall have
power to elect = president aud treasurer,
who shall give bond, in thesum OF ten
thousand doIlSrs, for the faithful discharge
Of the dHties Of his ONCE. and all such
other of1Ssrs aS may be deemed necessary;
year, and until others are chosen in their
BLSAd, and all officers so chosen shall be
under oath TO the faithful discharge OF the
duties Of their Offices, respectively.
Sec. I. And be iE further enacted, That
said corporation may receive on deposit,
for the use and benefit OF the depositorB,
all BumB Of money offered for that purposes:
Provided, however, That it shall not hold
at the same time more than one thousand
dollars OF any one deposition, other than q
religious or charitable corporation. ALI
such sums may be invested 10 the stock of
any bank incorporated by Congress, or
may be loaned on interest to any such
bank, or may be loaned on honda or notes,
with collateral security Of the stock ofsueh
banks at not more than ninety per centum
OF Its par value, or they may be invested
ct the public iunds Ofth0 United States, of
the several States, or loaned on q pledge
OF any OF said fundS, or invested in loans
on mortgages Of real estate: Provided,
That the whole amount Of stock held by
the iustitutton at one time in any one bank
both by way Of investment and a. surety
for loans, Shall not exceed one-half Of its
capital stock Of such bank, and that not
more than three-QuarteFA OF the whole sum
deposited in the Institution shall be at any
one time Invested 10 mortgages OF real
estate. The income or interest OF all de-
posts shall be divided among the deposit.
OrS, or their legal representatives, accord.
Ing to the terms Of interest stipulated; and
the principal may be Withdrawn at such
times, or in such manner, as the corpora.
tion shall in its by Law directs.
Sec 5. Aud be it further enacted, That
no officer, directory, OF committee charged
with the duty of investing the deposits
OhAlI borrow any portion thereof, or use
the same, except In payment of the eIpen,
GeS of the corporations; aud If any officer,
director, agent, or other person connected
With said bank, and interested with the
funds or deposits thereof, shall embeGLle
or lrauduIently convert the same to his
own use, he shall DO deemed guilty Of lar
oeDy, aud shall, on conviction thereof. by
any court competent to try the offence, DO
imprisoned in the penitenliAry not less than
one nor more than ten years.
Bee. 6. And be it further enacted, That
the subordinate officers and agents of said
corporation Shall respectively give such
security for their fidelity aud good conduct
IS the board Of managers may from time TO
time require, and said board shall az the
salaries OF such officers and agents.
Sec. Z. And be it further enacted, That
the persons named as eorporAtors 10 the
6rSI section Of this act shall be authorized
TO meet and organize said bank by the
dent, aud ono ~ vice president, and
thereupon shall proceed to elect such per-
sons as they shall select not herein named
IS corPOrAIorS, to be added to their board
Of managers, so that the whole number of
trustees, or managers, including the pres
Idsnt aud vice president, shall not exceed
nine persons.
Sec. 8. And be it further enacted, That
this corporation shaIl make an annual re-
~ Fst.. -. l.. 4
uentB. Said returns shall specify the fol-
lowing particulars. namely: The number
Of dePOsitors; total amount of deposits;
amount invested in bank stock and depos-
tied in bank on interest; amount secured
by bank stock; amount invested In public
funds; loans on security Of public fluids;
loanS on mortgage of real estate; loaus on
psr6onAl securities; amount Of cash on
hand; total dividends Of the year; annual
expenses of the institution; all Of which
shall be certified and sworn to BY the
treasurer; and ave or more Of the managers
shall also certify aud make oath that the
said return is correct according to their
best knowledge and belief.
Bee. 8. And be it further enacted, That
the banks Of said corporation shall at all
timsS during their hours OF business, be
open for inspection and examination to
!ns Comptroller OF tue currency or LepVs-
IIorG.
Sec, 10. Aud be it further enacted, ThA.
said corporation may make bylaws for
she more orderly management Of their
business, not repuguant to Law; may have
common seal, which they may change at
pleasures that ell deeds, grants, covenants,
and agreements, made BY their treasurer,
or any other person BY their authority,
shall be good aud valid; and said corpora.
riou shall have power TO Sua ard may be
sued, defend and be held to answer by the
name Aforesaid.
Sec. II. Add be # further enacted, This
act shall take effect and hs In Eoycs fpon,