Ashtabula telegraph. (Ashtabula, Ohio) 1874-1880, 1877-09-14
AsHTA ABULA OHIO FRIDAY, SEPTEMBER H. 1877

so diminished or withdrawn, it shall be the
duty of any court having competent juris-
diction, to make the necessary orders and
decree for closing the Affairs of such COM
pany, and dividing its effects among its
creditors and sha eholders.
DEC. "A The shareholders of each com
pany formed under the provisions of this
act shall be held individually responsible
equally and ratably, aud not one for an
other, for all contracts, debts and engage
ments of such company, to the extent of
the amount of their sock therein, at the
par value thereof, in addition to the
amount invested in such shares.
SEC. %. 1t shall be the duty of the au-
ditor, treasurer and secretary of State, or
a majority of them, as often as once in
each year, and without previous notice to
such corporation, to appoint some suitable
person in the vicinity of each banking
company, who shall not be a stOckhOlder
in any bank of the State, who shall have
power 10 make a thorough examination in
to all-the affairs of the bank which he may
be appointed to examine, and in so doing
TO examine any of the officers and agents
of such bank on oath; and such agent shall
make detailed report of the condition of
such bank to the auditor Of state; and the
banking companies herein authorized shall
be subject to any other visitorial power au-
thorized by law; and every agent appoint
ed as in this section provided shall receive
for his services at the rate of five dollars
for each day employed by him in such ex-
animation, and five dollars for every twen-
ty five miles he shall necessarily travel in
the performance OF his duty, which shall
be paid by the banking company by him
examined.
SEC. 26. The president and cashier of
every company formed pursuant to the
provisions of this act shall at all times
keep true and correct list of the names OF
all the share holders of such company, and
the amount of stock owned by each, and
shall file copy of such list in the Office
of the recorder of the county where any
office of such company may be located
and also in the office of such company, and
also in the office of the anditOr of the STATE,
in the months of January and July of
each year.
SEC 81. That the approval or rejection
of this act shall be submitted to the vote Of
the electors of this state, at The general
election in October next. At such election
the electors desiring to vote for its sp-
proval shall place upon their ballots for
the officers then to be elected the words,
Z" For the free banking act, and the vOt-
ers not approving it shall place upon their
ballots the words, Against the free bank
ing act" The judges and clerks Of said
elections in each and every township, ward
and precinct shall, in addition to the re-
turns provided by lay, and at the same
time, make return to the clerk Of the cOun-
ty, of The vote cast for and against the ap-
proval of this act. A return additional
to the return required by law 10 be made
OF the vote cast at such election for STAT
officers, and senators and representatives,
shall also be certified and made by the
clerk of each county, of the vote for
and against the approval of this act, to
the secretary of state, within ten days
after said election. and within thirty days
after said election the secretry of sta;e, su-
ditor of state, and attorney general shall
open said return, and count the votes. and !
ascertain whether or not majority of all |
the voSes cast at said election have been |
cast for the approval Of this act; and if !
it appears that a majority of the votes cast |
at such election have been cast for the ap-
proval Of This act, the said secretary and |
auditor of state shall make proclamation |
thereof without DELAY.
SEC. 2S The secretary. of state, shall |
cause this act to be published in one, but |
in not more than Two newspapers and by !
one insertion in each, in each county of |
the state wherein newspaper is publish |
ed, and within thirty days preceding the
election. The cost of publication 20 be |
paid out of the state treasury. upon the |
warrant G the auditor of state, upon prop |
er vouchers, and in accordance with the |
provisions of /" An act supplementary TO |
the act to provide for the execution and |
supervision of the state printing and bind |
ing, passed March "a. $780," passed and |
took effect May 1, 1862. IS. & S. p. 90.
Sec. 90. If the vote so cast he ascer- |
fained by the secretary of state, andito- of |
state, and attorney general, to have been
cast in favor if the approval of this act, it |
shall take effect and be in force from and
after the date of The proclamation so re-
quired to be made b them.
20 C. H. GR0SVEN0R,
Speaker of the House of Representatives,
II. W. &C RTISS.
President of the Senate.
Passed April "a, 1877.