Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1880-01-29

came furious, and swore that he had been
whipped; but, as he could not prove it, Tom
was welded to her without further. delay.
o. NATIONAL BANK CHARTERS. =
WHEN THEY EXPRESSIONS INTERESTING
FACTS OVERLOOKED BY BUSINESS MEN.
There are differences of opinion as to the
time When the national bank charters expire.
The comptroller of the currency has recently
received numerous inquiries, asking whether
all the charters expire in 1883, which is TWEEN.
ty years from the date of the original act, or
whether each bank was chartered for twenty
years from the date of its organization. 1t is
perhaps not extraordinary that such uncer,
taintye should prevail throughout the country,
particularly, as attention has only recently
been called to the fact lin the currency bureau.
The general belief had been that each bank
was chartered for twenty years, the time sb
begin to run with the date of certificate Of or
ganization. It appears, however, that this is
not the fact as to all banks. a careful ex7
animation Of the law, which has been made
within the last two or three days by the treas
ury officials, has resulted in decision which
will probably be promulgated in few days,
explaining how it Is that q certain number OF
national bank charters will expire in 1883,
and certain number in 1882, while the re-
mainder, constituting the much larger class,
numerically, will expire in twenty years from
the date of their respective certificates Of or
ganizstion. 1T is one of the curious facts
connected with the history Of national bank
ing that this difference has not been discover
ed until now. The facts are these:
THE Law WHICH GOVERNS THIS MATTER. z z
The charters Of all national banks organ.
lied under the first National Banking act,
which is the act of February %, 1868, expire
Internationally in twenty years from the date
Of the approval of the act, or on February
25, 1883. The reason why these charters ex-
pire in 1883 is because this first act prescribes
that the limit of the existence OF the charters
granted under it shall be twenty years from
the date of the act The number of banks
organized under this first act is 456, aggrega-
ting 857, 100000 of capital. The next Ma
tional Bank act was that Of 1864. The lat,
ter act repealed all the provisions of the first
act which, were inconsistent with it, and pro-
vided that the charters Of national banks or
ganized under it, should run for twenty years
from the date of the organization OF each
bank. This made an important change. BY
far the greater number Of banks we're organ-
lied under this second act, or the act Of 1854.
The charters of something over 1000 banks
will expire twenty years from the date OF
their respective organization. s5l
There seems to have been ignorance as to
the real provisions Of the FIRST banking law
at the time the early banks we're organized,
under Secretary McC Culloch. Several lof these
original characters were granted for the term
of nineteen years, these: words being written
in manuscript in the certificates Of organiza-
ton themselves. There are few charters,
too, which prescribe that the charter shall
expire in 1882, but the greater portion Of the
456 banks organized under the first act, used
printed certificate, prepared at the Treasury
Departn emit, which. fixes the date at Febru.
ary 25, 1883. The first 456 banks COM
| prise some of the most substantial banks Of
the country, but the ten per cent clause,
which was inserted in the second act, induced
large number Of banks to organize after
ward. The first act, that of February 20,
1863 prescribed in section eleven that q ma
tional bank organized under it "shall have
SUCCESSION by the name designated in its arti-
cles of association, and for the period limited
therein, not however, exceeding twenty years
from the passage of this act"
The language of the second act OF 1854
prescribes that national bank organized un-
der it shall shave succession for the period Of
twenty years from its organization, unless it y
sooner dissolved" ETC., etc. This second act
contained provision that all parts Of the
prior act inconsistent with the second act,
were repealed. This repeating provision Of
course, could not affect banks that had been
organized under the first act. The second act
only prescribed the conditions under which
banks should thereafter be organized. ~,
The banks the numbers Of whose ce1tii-
Gates of organization are less than 456, were
organized under the first act. Charters Of
such banks, therefore, expire Feb. 25. 1883,
just twenty years from. the Il date q Of the act
SOME THINGS NOT TO BEIIEvE.-W When q.
man advertises for partner, aud wishes q
young man to put in small investment Of
one hundred to FIVE hundred dollars, and
promises him realization of fifty or one hum
dred per cent. profit, don't believeit. When
man offers to give gold watches or jeWelry
worth fifty to one hundred dollars for only
one dollar, don't believe it. When 8 man
offers to give away knowledge Of the utmost
value for the cure Of consumption, and any
and all diseases, by merely sending q asthrees
cent stamp to prepay postage, don't believe
it, Whena man proposes to do his utmost
to make every one else rich, and looks to 9TH
er peoples interests more than his own, don't
believe it. When man offers To give you
something of great value for something Of .
less value; in other words to give you some
thing for nothing, don't believe it.. Many
persons advertise on purpose to flch young
men of money gained by hard labor, and be-
fore entering into any speculation which may
be offered you, take advantage Of the many
means at your command and ascertain the
facts with reference to the proposed business,
before you invest and thus save your money
and assist in efectually breaking up all the
swindling establishments. -7 G
DoN'T-Don't point your gun at yourself
| Don't point your gun at any one else Don't
carry your gun so that its range includes all
your hunting companions Don't try to find
out whether your gun is loaded or not by