Evening journal., 1915-02-11

directly or by or through the agency
or employment of any person, be in
anywise concerned in any paper or
security OF any description Whatever,
whereby the amount of profit to said
bank to arise from said transaction
shall exceed the rate of one per cent
for sixty days. such bank shall be
deemed and taken to have forfeited
its charter; and furthermore the di-
rectOrs or managers of the affairs OF
said bank who knowingly and in
tentionally assent to the violation Of
the foregoing provision shall sever
ally be guilty of a misdemeanOr, and
on conviction thereof by indictment.
shall be fined at the discretion Of
tho court; provided, however, that in
case of draft or bill drawn upon
a place between which and the city
of Philadelphia there shall be. at the
time Of the negotiation of such paper
a rate of exchange below the par
thereof. the bank negotiating such
paper shall be allowed TO add the
exchange to the profit before men
toned and take the whole amount of
such profit and exchange and no
more; and provided also, that when
application shall be made for the
purchase OF draft on any place
other than that where the business
of said bank is transacted, it shall be
lawful for the said bank to charge
for the accommodation a reasonable
exchange. Nothing herein contained
shall be held or taken to cOntravone
the usage with banks of taking dis
count or interest in advance.
Federal Reserve Provisions.
Section 1. That Chapter &C of the
Revised Code of the State of Della
ware be. and The same is, hereby
amended by adding at the end of said
chapter the following new section, 10
wit:
"2115 b. Sec 16 When a deposit
in any bank. trust company. savings
bank or other banking institution in
this state is made i'm the name of
two or moro persons, deliverable or
payable to either. or TO their surviv-
or or survivors, such deposit, or any
part thereof, or the increase thereof.
may be delivered or paid TO either of
said persons. or to the survivor or
survivors. in due course of business.
'.2115 B. See. 16. When a deposit
i'm any bank, trust company. savings
bank or other banking institution IN
this State is made by any persons in
trust for another, and no other or
! further notice of the existence and
/ terms of a legal and valid trust shall
have been given i'm writing to the
bank. in the event of the death OF
/ the trustee, such deposit, or any part
/ thereof. or the increase thereof, may
be paid to the person for whom said
deposit was made, or his legal rep
resentatives."
"2Il5 G. Sec. H. Any person VIII
shall wifully aud miliciously make, cir
culate. or transmit TO another or Others
any false statement. rumur or suggcs
ton. written. printed or by word q
mouth. which is directly or by mdefcrcnc
dcrogatory To the financial condition o
affects the solvcncy or financial stand
inc of any bank, trust company, saving
bank or other banking institution j
this state. or who shall counsel, al,
procure. or induce another TO star
transmit or circulate any such state
,ment or rumor, shall be guilty OF mis-
demeanor. and. upon conviction thereo
shall he punished by fine e. not moI
than two thousand dollars, or by in
prisonmcnt for term of not more tina
two years. or both"
"2ll5 ID. Sec. Is. II shall be lawfl
for any trust company or State ban
heretofore or hcrafter incorporated und'
the laws of this State TO become men
her of the Federal reserve bank, orgai
izcd or TO be organized in the FEEDER
e reserve district in which such tru
company or State bank is located, und
/ the provisions OF the act Of Congre
r known as the Federal Reserve Act a
proved December twenty-third, ol
: thousand nine hundred and thirtee
and such trust company or State ban
NAV subscribe for, purchase, hold al
surrender, from time to time, su
n amounts of the capital stock of su
> Federal reserve bank as such trust COZ
I ipany or State bank may deem adNisal
4 or as may be required under said 'fe
;; cral Reserve Act or any amcndme
- thereof, i'm order TO obtain and contin
D. sucl, membership. and upon the p'
x chase Of sgch stock. to assume the j
n bilitics andSbecome entitled to the bcI
d fits rccitcd in said Federal ReseF
iiee Act"
Sc The delegates were the guests of
st Wilmington Clearing House at lunchc
nj in the Hotel dupont and the matinee