The Norfolk post. [volume] (Norfolk, Va.) 1865-1866, 1865-07-17
OFFICIAL,

Itraa Qnnt
the government and interests Of the same as hereby
thorized: Pyorded hoUere, That no selection Of site
far said asvlum or adoption OF any plan OF bindings
hall la agreed upon until after the sum OF half million
~ Iiars shall have been first subscribed donated and
mid into the treasury of said corporation.
src y And be ii further enacted, That the officers of
the asylum shall consist OF Governor, deputy gov,
be appointed from the pensoned ocers Oh the volunteer
orvice and they may be appointed and removed from
time to time as the interests Oh 'he ins'utoh may re-
src s. And be ii further enacted That the following
ersons only shall be entitled to the benefits of the asy
um and may be admitted thereto upon the reeomnen-
doon of the board Of directors namely: all volunteer
o0cers soldiers and seamen. who have served during
the present war who have been or who may be totally
disabled by wounds received or SICKNESS contracted in
h line of their duty and such persons becoming in
mates of this asylum shall assign thereto their pensions
during the time they shall remain therein and receive its
benefits ,, NIL. a.,
shall make an annual report Of the condition of the asy
lum to the War Department. which shall be communi-
Gated TO Congress the first Monday OF every january
the passage of this act and it shall be the duty of
o said directors TO examine and audit the accounts OF
the treasurer of this asylum quarterly and to Visit and
inspect them at least six times year.
Src TO- And be ii further enacted That all inmates
of the ASYLUM shall be- and they hereby made sub
iect to the rules and articles Of war and VII De gov
erned thereby in the manner as ii they were In the
army or navy of the United States.
SEC H. And be Il further enacted That Congress may
at any time hereafter alter amend repeal this act
Approved, March 8, 1865.
An ACT to incorporate the Freedmans Savings and Trust
Company.
Be it enacted by the Senate and House Of Representatives.
of The United States Of america IN Congress assembled,
That Peter Cooper, William G. Bryant, A. A. Low 5.
r. Chittenden Charles II. Marshal William A. Booth,
(ierrtt Smith, William A. Hall, William Allen, John
JAY Abraham Baldwin, A. s. Barnes Hiram Barney Seth
H. Hunt Samuel Holmes. Charles Collins, X. X. Graves,
Walter s. Griffith. A. II. Wallis d. $. Gregory, W; Al
word George whipple A. S. Hatch, Walter Hatch A.
Lambert W. G. Lambert, Roe Lockwood, X. IL Manning,
r. W. Ropes, Albert Woodruff, and Thos. Dewey, Of
New York; John NJ Forbes VIM. Clalin S. g. Howe,
George L. stearns, Edward Atkinson, A, A. Lawrence,
and John NJ S. Williams, Of Massachusetts,; Edward
Harris and Thomas Davis, OF Rhode Island; stephen
Cowell. j. Wheaton Smith, Francis L. Cope, Thomas
Webster s. Hunt. and Henry Samuel OF Pennsylvania;
Edward Harwood Adam Poe Levi Coffin, ). NJ Walden,
of Ohio and their constituted body cor
norate in the city of Washington, in the. District of
Columbia by the name of ''The Freedmens Savings and
Trust Company and by that name may sue and be sued
in apy Court of the United States.
sre 3 And be ii ft,thqr eaocted That tho persons
named in the first section of this act shall BIO the first
trustees of the corporation. and all vacancies by DEATH
resgnaon or otherwise in the Office of trustee, shall ~
filed by the board by ballot, without any unnccessa,
delay and least ten votes shall be necessary for tho
election of any trustee Tie trustees shall hold irregular
meeting at least in each month"; TO receive reports
of their officers the affairs of the corporation, and TO
transact such business as may be necessary ana any
trustee emitting to attend TIE regular meetings OF the
board for six months in succession, may therenpon be
may be elected to fill the same
SEC g. And be IL further enacted That the business of
the corporation shall be managed and directed by the
hoard of trustees who shall elect from their number
pesdent and vicepresdents and may appoint such
other officers they see 1T; nine oil the trustees of whom
the president Of the vice presidents shall be one
shall form quorum for the transaction of business at
any regular or journed meeting of the board of trustees:
and the affirmative vote ofat least members the
board shall be requisite in making any order for or
the investment OF any moneys the sale
or transfer any stock securities belonging to the
corporation the appointment ofany officer receiving
any salary thereirom.
SEC l. And be il further enacted, That the board of trus
tees of the corporation shall have power from time to
time make and establish sch bylaws and regulations
they shall Judge proper with regard to the elections of
officers and their respective functions, and generally for
the management OF the affairs Of the corporation pro-
rided such bylaws and regulations not repugnant to
this act or to the constitution or laws of the United
States.
SEC 8. And be ii further enacted. That the general
business aud object of the corporation hereby created
hall be to receive deposit such of money may
from time to time offered therefor by, behalf Of
PERSONS heretofore held in slavery in the United States
IT their descendants andinvesing the In the stocks
)ords treasury notes. other securities of the United
States.
SEC 6. And belt further enacted That It shall be the
luy of the trustees of the corporation invest
rs practicable, in the securities named in the next pre-
,eding secoa all sums received by them beyond
available tund, not exceeding onethrd of the total
amount of deposits with the corporation at the discretion
Of the trustees which available funds nay be kept by tho
trustees to meet current payments of the corporation
and may by them he left on deposit at interest other
wise or in such available form as the trustees may
direct
ssc I. And be IL further enacted That the corpora-
ton may under snch regulations the board of trustees
shall from time to time prescribe receive any deposit
hereby authorized to be received upon such trusts and
for such purposes not contrary to the laws Of the United
States, may be indicated in writing by the deposit
tor, such writing to be subscribed by the deposit
tor and acknowledged or proved before any officer
in the civil military service of the United States the
certificate of which acknowledgment proof shall be
indorsedon the writing and the writing acknowledged
or proved shall accompany 'uch deposit and be filed
among the papers of the corpomton and be carefully
preserved therein and may be read in evidence any
court or before any judicial officer Of the United States
without further proof and the certificate of acknowledge
men or proof shall be prma fcle evidence only of tho
due execution of such writing
SEC Andbc further enacted That all received
on deposit shall be prepaid to such depositor when
quired at such time, with such interest, not exceeding
seven per cenum per annu and under such regulations
as the board Of trustees shall, from time to time, pre-
SCRIBE which regulations shall be posted up in
spcuou place in the where the business of the
corporation shall be transacted but shall not be altered
so as to affect any deposit previously made.
SEC AND be further enacted, That all trusts upon
whch and all purposes for which any deposit shall DO
made and which shall be Indicated In the writing to
accompany such deposit shall be faithfully performed by
the corporation unless tho performing of the
rendered impossible.
SEC 10. aud be further enacted That when any do
posltor shall de- the funds remaining deposit with the
corporation to his credit and all Accommodations thereof
snail belong and DO paid to the personal representatives
VI such depostor In case he shall have left last will and
'cstament and IN default of last will and testament,
any person qualifying under last will and testament
competent to act executor the corporation shall be
entitled IN respect to the funds remaining on deposit
70 the credit of any such depostor 10 administration
thereon in preference to all other persons and letters of
administration shall be granted to the corporation accord
hs IN the manner prescribed by law in respect to the
granting OF letters OF administration, with the will
hexed, and In cases of intestacy. be-
etc H. And be further enacted That in case of the
an VI any deposi1or whose deposit shall not be held
upon any trust created pursuant to the provisions herei
before contained where il may prove impossibleto
ecute shch trust 1t 81 all be the duty OF the corporation
TO make dgen efforts to ascertain and discover whether
such deceased deposor has left husband wife, chill
eh surviving and the corporation shall keep record
Vi he Efforts SO made, and of tho results thereof and in
's no person lawfully entitled thereto shall DO discov
ete OF shall appear claim the funds remaining to tho
credit oil such depostor before the expiration of two
yer from the death of such dsposOr II shall be lawful
sor inc corporation to hold and invest such funds as
separate ustind, TO be applied with the accumulaons
eieoi 10 the education and improvement OF persons
heretofore held In slavery, their descendants, being
ha,ants OF the United States, in such manner and
through such agencies the board of trustees shall deem
nest calculated to effect that objects Provided That il
any lepostor be not heard from within five years from
vac oate OF his last deposit the trustees shall advertise
se IN some paper OF general circulation In the state
Wherc the principal Office of the company is established
anu also IN e state plre Che principal Office of he rom
pony IS established and also in the state whore the do
posof was last heard iron' and If within two years
1nereuer such deposor shall not appear nor husband
we, or child Of such depositor, to claim his deposits
y snail be used by the board of trustees as hereir-
before provided for in this section
~ ana Further enacted That no president
elesident trustee, officer Or servant Of the coypo
aon snail directly orndrectly borrow the funds of tho
~ opoiatoh OF its deposits, or IN any manner use
se SAINT OF any part thoreo except to pay necessary
All unaef inc direction of the board Of trstees.
certncates lori other evidences of deposit made by
e proper officers, shall be as binding on the CORPORATION