The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-03-18
rha 40 tional Banks.


r,sss q rss announced IL thesenate that the
| President had signed the b!lltc CURE na'
,;onal hanks to restore tbc.r capital wEer
imns;rcd. aud to amend the national cur.
rency act.
| The law provides that al. national banks
which shall have failed to pay up theii
capita! stock, as required by law, and all IA
| tionaI banks whose capita. stock shall have
! become impaired by losses or otherwise
| hail, within three months after receiving
| rotire thereof from the Controller OF cur
| :ency, no required 10 pay the deficiency ID
the capital stock by assessment upon tac sils,
| holders, Dro rata, for the amount oil e'pis'',
| took held by each; aud the Treasurer VI
| The United States shall withheld the tiilele,'
| mon Nil bonds held by him iii trust TOT sur"
assoc;o.ion. nDon notification from the Con'
| ,ro!,rr of In. Currency, until otherwise DOLE
| fed ,y him; and il such banks slall lali 10 Fry
I.n tl,c;r cq,i.al stock, aud shall refuse To %
| into jin,iIatior, as provided By law, for three
months after receiving Eo!icc from the Coil
| .rol.ar. Z receiver may he appointed to close
mn the bushes. Of the association, accord
iny 70 the provisions Of the fitch section
# the rational currency Gct.
The second section provides that section
81 of said act be amended by adding thereto
the following:
"Aad protiaed further, That no attach-
rlent, iajnuc, ION, or execution shall bci-sueG
against s;!cn as ociatio1, or is property, be-
fore firal judgment in any such suit, action,
or proceeding in any State, county, or NUM-
pal COURT
The third section provides that ali banks
DOT organized and transacting business un-
der the national currency Get, and ail per-
sons, companies, Oh corporations doing the
business OF bankers, brokers, or savings III
stitutious, except savings banks, Grc pro-
libited from using tho word "iatloDal" as
/? po.tinn Of the name Of tile OF such bank.
corporation, trm, or partnership; aud every
sucn bank, corporation, or firm which shall
l.c tho word "nationai" rs a portion Of
their corporate title or partnership name six
months sitter the passage Of this act shall De
,ul ject 20 penalty Of lifty dollars for each
day thereafter 10 which such word shall be
employed as aforesaid as part Of such corpo-
rate name or title. such reuglty to be rccoy-
cred ~ action in any court having jurisdiC.
ton.
Tie fourth section p-oTdes that it shall
be :he duty OF the Controller OF the Cur
rcncy 10 cause 10 Ec examined each year the
rl1tes, dies, 5ed-pieces, ana otAor materials
from which n2liOaal bank circulation IS
;,rInied il whole 0: in part, and file in his
Office annually correct list Ct the same ;
and such material rs shall have been used in
printing notes Of national banks which are
IN liquidation or have closed business Shall
be destroyed, under such regulations as shall
&c prescribed Ey the Controller OF the Cur
rercy and approved by The Secretary OF the
Treasury. The expense Of such examina-
ton or destruction is 10 be pail out Of any
appropriation made by Congress Tor the sne-
cal examination OF ua.ionl! banks anl bank
plates.
We get the No. Of the I'LL, and learn the
fact that the President signed it, from The
Glo5c. We ind il sl2tcd il cnotOer issue of
the Gio5c thai the provisions Of the bill
whilst pending Were rs above given. And
we have no doubt that tie law is rs stated
above.