The Norfolk post. [volume] (Norfolk, Va.) 1865-1866, 1865-07-15
OFFICIAL.

during the ume tney snali REMAIN 'nsAe'A ""~ "
| benefits. ausiill5t ll4f al.
SEE o. And be II Further enacted, That the directors
shall make annual report OF the condition OF te
| lum to the War Department which shall be communl
Gated to Congress the first Monday Of every January
after the passage Of this act End 1t shall be the duty o.
said directors examine and audit me s 2,
the treasurer Of this asylum quarterly and TO VISIT ano
| inspect them at least six times year. Clt! ltiJ
SEc. TO- And be 1t further enacted That all inmates
Of the asylum shall be- and they are hereby mado sub
ect to tho rules and articles Of and wi be gov.
erned thereby In the they were in the
army or nayyQf the United States.
SEC. II. And be It further enacted That Congress may
at any time hereafter alter amend or repeal this act
Approved March g. 1866. tea iG ner-LJ
An ACT to incorporate the Freedmans Savings and Trust
| .i3 '.-eilf Company. - 3- Atl+'tl5-
Be enacted By the Senate and House Of Representative,
Of the Unstd &ates of America Congress assembled,
Marshal William
Gerritt Smith, William A. Hall, William Allen, John
Jay, Abraham Baldwin, g. Barnes, Hiram Barney, Seth
Walter g. Griffith. 4. H. Wallis, D. g. Gregory W. Al
word Georgs Whipple A. s. Hatch Walter Hatch, L. A.
Lambert W. @. Lambert. Roe Loskwood, R. H Manning,
| r., W.. Ropes, Albert Woodruff, and Thos. Dewey, of
| New YORK John NJ Forbes VIM. ClaHin, s. G. Howe,
Georee L. stsarns, Edward Atkinson A. A. Lawrence,
John y Williams Of Rss
Cowell, J. Wheaton Smith, Francis E. Cope, Thomas
Webster 8. Hunt, and Henry Samuel of Pennsylvania
Edward Harwood Adam Poe, Levi Coffin, j. NJ. Walden,
Ohio and their successors are constituted body
porate 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 and be sued
| in any Court Of the United States
SEC. O. And be 1t further enacted, That the persons
named in the first section Of this act shall be the first
trustees of the corporation and all vacancies by DEATH
resignation otherwise in the Office Of trustee shall be
filled by the board by ballot without any unnecessary
and ss Ds ssd for ns
meeting at least once In each month"; to receive reports
Of their officers the affairs Of the corporation and to
transact such business as may be necessary and any
| OmttnQ attend tie regular meetings
board for six months in succession may thereupon be
considered having vacated his place, and successor
SEC. g. And be further enacted, That the business of
the corporation shall be managed and directed by the
board Of trustees, who shall elect from their number
president and two ycepresdents and may appoint such
other officers they t nine of the trustees of whom
the president Of the presidents shall be one
shall form quorum for the transaction of business at
any regular adjourned meeting of the board of trustees
and the Affirmative vote Of at least seven members of the
board shall be requisite in making any order for, or
authorizing the investment of any moneys the sale
transfer of any stock securities belonging to the
corporation the appointment Of any officer receiving
SEC 4 And be It further enacted That the board OF trus
tees of the corporation shall have power, from time to
time make and establish such yaws 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-
yded such byaws and regulations are not repugnant
this act or to the constitution laws of the United
States. atj a. zhHltr aEz.,- .es5GfIsr5 z,fEl =
SEC s. And Dc IL further enacted. That the general
business Ouect OF corporation hereby created
shall be to receive On deposit such sums of money as may
be from time to time offered therefor by on behalf Of
persons heretofore held IN slavery in the United States
their descendants and investing the in the stocks
bords treasury notes. other securities Of the United
States I'll. 10. M ,-l- lsdI l4tl rat
duty Of the trustees Of the corporation to invest
practicable in the securities named in the next pre-
ceding section, all sums received by them beyond
available fund, not exceeding one.third Of the total
OF deposits with the at the discretion
Of the trustees, which available funds kept by the
trustees to meet current payments OF the corporation
and may BY them be left on deposit at interest other
| direct. tJ. -GJ 4alt ti1 T |F.5Hf
SIC. L And be 1t further enacted, That the corpora
ton may under such 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, a. may be indicated in writing by the deposit
tor. such writing to be subscribed by the deposit
tor and acknowledged or pr we'd before any officer
in the civil tary service of the United States the
certificate Of which acknowledgment proof shall be
Endorsed tho writing; and the writings acknowledged
or proved shall accompany UGH deposit and be filed
preserved therein, and my DO read in evidence in any
court or before any judicial officer Of the United States
without further proof and the certificate of cknowledg
proof shall ba prima cie evidence only Of the
due execution of such writing. .-1
SEC. g. Ard further enacted That all sums received
deposit shall be prepaid to- such depositor when ro
CURED ut such time with such interest not exceeding
per eentum per annum and under such regulations
as the board Of trustees SHALL from time to tme pre-
spenous place In tho room where the business of the
corp ration shall be transacted but shall not be altered
Ind Ss r saassa That hfs all trusts upon
which, and all purposes for which any deposit shall be
made and which shall be indicated in the writing to
accompany such deposit shall be faithfully performed by
the corporation unless the performing Of the same g
SEC. TO- Ind be further enacted, That when any de-
postor shall DID, the funds remaining deposit with the
corporation to his credit and all accumulaons thereof
shall belong and be paid to the personal representatives
OF such depositor in case he shall have left last will and
testament and In default of last will and testament or
Of any person qualifying under last will and testament
competent to act as executor the corporation shall be
entitled in respect to the funds remaining deposit
to the credit Of any such depotor administration
thereon In preference all other persons and letters of
administration shall DO granted to the corporation accord
ngy in the manner prescribed by law in respect to the
granting Of letters OF administration with the will an
nexed, and in cases Of intestacy la.
SEC H. And be further enacted, That in case of tho
death of any dpostor whose deposit shall not be held
upon any trust created pursuant to the provisions herein
before contained or where may prove impossible
ecute such trust 81 all be the duty of the corporation
to make gent efforts to ascertain and discover whether
such deceased depostor has left husband wife or chill
dren surviving, and the corporation shall keep record
OF the efforts made and Of the results thereof and in
case no entitled thereto shall be discov
ered or shall appear claim the funds remaining to the
credit Of such depostor before the expiration of two
years from the death Of such dapostor it shall be lawful
for the corporation to hold and invest such funds as
separate to be applied with the accumuatons
thereof to the education and improvement of persons
heretofore held In slavery or their descendants being
inhabitants Of the United States such anner and
through such agencies the board of trustees shall deem
best calculated to effect that object Por,ded That if
any dpostor be not heard from within five years from
the date of his last Deposit the trustees shall advertise
the same in some paper of general circulation the state
where the principal Office of the company is established
and also IN e state ore the principal office of the com.
pdny - esfdbsed and also In the state where the de-
positor was last heard from; and If within two wears
such depostor shall appear nor husband
WIFE, or child Of such depositor claim his deposits
they shall be used by the board of trustees as herein
Il
SEC L. And be Il further enacted That no president /
Vicepresident, trustee officer servant of the corpo-
ration SHALL directly indirectly borrow the funds of the
corporation or its deposits, or in any manner use |
the same any part thereof except to pay necessary
expenses under the direction Of the board Of
All certificates lori other evidences of deposit made by
the proper officers shall be binding the corporation
if they made under their common seal. 1t shall
be the duty Of the trustees to regulate the rate of interest
allowed to the depostors that they shall receive
nearly as may be rata lie proportion Of all the profits of
such corporation after deductng all necessary expenses
Provided however, That the trustees may allow to deepest
tors, to the amount Of five hundred dollars upwards
per centum less than the amount allowed to others
And ropidsd also Whenever 1t shall appear that after
the payment Of the usual interest to depotors there
in the possession of the corporation Of profits
the liabilities amounting to ten per centum upon
Of the depostos in the corporation and thereafter at
each annual examination Of the affairs ofthe corporation
any surplus over and above such per centum SHALL
addition to the usual interest be divided raby among the
depostors In such manner as the board Of trustees shall
direct. r flqi -l{F La
SEC. l8 And be Il further enacted That whenever any
deposit shall be made BY any minor the trustees of the
corporation may at their discretion pay to such deposit
tor such sums may be du to him. although no Guard.
been appointed for such minor the guard