Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1875-12-23
Mr. Moifst's Bill to Regulate Banks and Bank
ing Institutions.

Senator Moffett, of Rockingham, has
introduced in the Senate bill to reg
ulate the operations of banks and bank.
ing institutions organized under the
laws of this State, and to provide for
the publication thereof. 1t provides
that every bank, trust company, saw
ings bank, or other banking associa-
ton, having capital stock, organized
under the laws of the State, shall make
to the Auditor Of Public Accounts not
less than four reports during each and
every year, according to the form-which
may be prescribed by him and certified
by oath OF affirmation of the president
vice president, or cashier of such asses
citation; which report shall exhibit be-
fore the commencement OF business Oh
the first day of the month of January,
April, July and October the resources,
as follows: Loans on real estate. all
other loans, overdratts, United States
bonds on hand, State bonds, other.
stocks, bonds and mortgages due from
other banks and bankers, real estate,
furniture and fixtures, current expenses
cash items, specie, bills Of national
banks, and United States notes. And
liabilities, as follows: Capital stock
paid in, surplus funds, undivided prof
its. State bank~notes outstanding, divi-
dends unpaid, individual deposits, due
to banks and bankers, notes and bills
rediscounted, and bills payable.
That every savings bank Or other
banking ASSOCIATION without capital
stock, organized under the laws of this
State, shall make to the Auditor Of
Public Accounts not less than four re
ports during each and every year, &C
cording to the form which may be pre-
scribed by him, and verified by the
oath or affirmation of the president,
vice president, or secretary of such as
sociation; which report shall exhibit
before the commencement of business
on the first day of the months Of jan
uary, April; July and October, the re
sources, as follows: Loans on real es
tate, loans on United States and State
stocks, loans on other stocks and bonds,
Al, other loans, United States bonds on
hand. State bonds on hand, other
stocks. real estate, furniture and fixts
ures expenses due from banks and
bankers, specie, national bank and
United States cusreEcv, all other assets
And the liabilities as tol..oWs: lndivld'
ual deposits, due to the banks md bank
ers, undivided profits, other Liabilities
also statistical infol nation, as follows
The number of open accounts on the
incoming january 1876, number of &C.
| counts opened since the date of the
last report, the amount deposited not
including interest credited daring the
past year, the amount deposited in
Guiding interest credited during the
same period, the amount withdrawn
during the past year, the amount of in-
terest credited to depositors for the
same year, the amount of each SEMI
annual credit of interest for the past
year and where credited, and the rate
per centum of dividends or interest on
deposit for the past year.
Such reports shall be made within
five days after the receipt of the requi.
sition of the Auditor therefor, and
shall be published in the same form in
a newspaper issued at the place where
such association is located, or, if there
be no newspaper in the place, then in
one published in the vicinity of the
place, at the expense of the association
and any association failing to make and
transmit such report shall be subject to
a penalty of fifty dollars for each day
after FIVE days which such bank shall
delay to make and transmit such le-
port aforesaid, which penalty may be
collected by suit before any court in the
district in which said banking company
may be located; and all sums Of money
collected tor penalties under this section
shall be paid into the treasury of the
State; and it shall be the duty Of the
Auditor to compile full abstract
of such report when received,
which abstract shall be printed from
time to time. when prepared, and pub
lished in his anuual report to the Legis-
lature of the State.