Mt. Vernon Republican (Mount Vernon, Ohio : 1854), 1856-06-24

              3 4f " 1 ' T -jr-:,7:v-;V U NO. 32. VOL. II. MOUNT VERNON, OHIO, TUESDAY MORNING, JUNE 21, 1850. P III HI iff JW LAWS OF OI1TO. CONCLUSION OK JICT 120 bond shall be given ai in other crscs; if the plaintiff slmli admit a p:irtof the tuxes to hare been legally assessed, he shall first pay or tender the fum admitted to be legally due; and the injunction shall be a sufficient justification of the officer having the collection of such taxes for not collecting the same. Section 4. A petition in error, in the nature of a bill of review, may on leave of the supreme court or any judge thereof, be filed in the supreme court to reverse or modify any decree in chancery that heretofore has been or that hereafter shall be rendered in any district court in this State, in tohich the title to real estate is in controversy, or the amount in controversy is not jess than five hundred dollars, and the proceedings upon said petition in error shall in all respects be governed by the act of the general assembly of the Slate of Ohio, passed February 21, 1848, entitled "an act to dispense with the necessity of copying the papers in bills of review and for other purposes," and the act of March 18, 1851, entitled "an actio amend the act directing the mode of proceeding in chancery;" provided, however that the provisions of this section shall not extend to suits that shall have been commenced since the first day of July, A. D 1853; and provided also, that said petition in eiror shall be filed within three years from the time of the rendition of said decree so sought to be reversed or modified. Sbctiosj 5. "Whenever, in the opinion of any judge of the court of common pleas the public interests shall require it, the said court shall appoint an assistant prosecuting at'.orney to aid in the prosecution of such offence as to the court shall seem proper, and the county commissioners shall pay for the services of such assistant prosecuting attorney so rendered, such compensation as to them shall seem just and proper, and shall be approved by the court. N. II. VAN VORHES, Speaker of the House of Representatives. THOMAS II. FORD. President of the Senate. April 10, 185G. TJIIi XKW ISA All LAW. No. Ill AN ACT To hi' orjior:ili the Bunk of Oil io niirl ofherBunks. Suction 1. He it tnuctcd It y the General Assembly of the State of Ohio, That it shall bo lawful lor natural Individual persons, not fewer in iiinn-bet in nny cane than livo, to usmiciulu nn.l form companies for the purpose of carrying on the business of I), inking, each tit such place in this Slate ns lmll be designated in its articles of association, mid in the ecrlilieute heronfter required to bo made, ubj'tct, however, lo the coii.iiigeuuios, restrictions, conditions, and liabilities prescribed in this net Skctiox To curry into effect the provisions ol this act, Win, VV. Scarborough, of Cincinimti, Franklin T. Hic.kos, of Cleveland, Chunncey N. Olds, of Circleville, J. It. Kinu, of Columbus, uud Samuel Korrer, of Duyion, shall bi, und they ure liorcby appointed commissioners, und they, or u majority of them, after taking an oath diligently, faithfully and Imp irtiitlly to perforin tho duties assigned them by thtj act, a certiliciite of which oath shall be filed uud carefully preserved in Hib office of the Secretary of titute, uud shall constitute I. bourd, to be designated the board of bank commissioners, which board shall continue until the organization of the Bank of Ohio, ns hereinafter provided for, and Ihereuftrr the duties which they are required to perform by this act, in the organization ul' brunches of the L ink of Ohio, shall lie performed by said bank, and tlio duties In the organization of Independent banks which they are required by thin act to perforin, shall devolve on und be performed by tho Auditor, Treasurer, uud Secretary of Stale, who shall be commissioners to perform such duties, and if any of said commissioners shall refuse to serve, shall rile orresign, his place shall be filled by the General Assembly, hy joint resolution, i iu session, if not, by the governor. Skction .1. Said commissioners shall meet in the oily of Columbus, at such lime, within thirty days after the secoiir1 Tuesday of October uext, us shall be appointed by the governor, who shall notify ouch member of hjs appointment, mi l of the timu and place of meeting, they shall, when met, up-point one of UieJr number to be their president, who shall, tinder the order of Ihe bourti, sign all official docuiueuts ; and they shall ciuse a fwir and true record of all their orlicial proceedings to be kept ina book to be provided for that purpose. Skction 4. Persons associating to form a bank shall, muter their hands and avals, make a certificate, which shall specify, first The uame assumed by said bank, anil by which it shall be known iu its deulings, in which mime shall be iucluded the name of the city, village or town, in which its bunking operations shall he carried on : Second The amount of the capital stock of such bank, and tho uumber of shares iulo wliioli the same is divided ; Third The name aud place of residence and the number of shares held by each member of the company ; Fourth The time whoa such company fbaJI have been formed ; Fifth That such company has elected lo -carry on its operations as an independent bank, or, as a " branch of tiie Bank of Ohio," as the case may he, which certificate sha.ll be acknowledged before A justice of the peace or uotajy public, aud shall he recorded by the recorder of the county where such bauk Is to be established, In a book to be kept by him for that purpose, which at all times during elBoe hours be kept open tor the Inspection of any person wishing to eguiniuo the same J one copy of which certificate, duly cortificd, shall be transmitted to tho Secretary of State, who shall record and carefully preserve the same In his office, aud Bother to the board of bank commissioners' Section 6. No company eball be permilied to . commence or carry on tho business of banklug under this act, as a branch of tho bank of Ohio, union iti capital stock shall be at least one hundred thousand dollars, nor shall ths capltil stock of any sach branch ever bo Increased to exceed four hundred Uiousaud dollars, except as specially provided for in thin act. No Independent bank shall be organized under litis act, with a less capital than fifty , thousand dollars ; nor shall the capital stock of any uch bank erer be increased to an) sum exceeding two hundred thousand dollars, exoept as specially provided for in this act. At least fifty per cent of the capital stock of each company shall be paid io gold aud silver coin or their equlvelant; ono hull of which fifty per cent at least shall be in gold aud silver coin, aud shall be In the actual possession and bona tide the property of the .company at the time of the commencement of iti banking business, aud at the place designated for carrying on such business, aud the remainder of the capital stock of inch stock shall be paid in, in instalments, such of at least (en per cent ou tho whole amount of the capital subscribed, as frequently at once la every four successive months, from the time of commencing business until the whole amount of tech capital shall be paid up. Provided, that the direct- ore of the bank of Ohio may extend the time for the psyme lit of tuch deferred Instalments, or any pert of them, to the branch banks, when satisfied that the publlo Interest does nil require them lo be paid as frequently is above provided for, and th ' .governor may grant to the independent banks the Jike extension fo- the same cause. SrcTiow C. If any shareholder or hit assignee shall fall te pay any instalment on hit stock wl en the same shall be required to bo paid, tho directors !ji 1 i .-'f. i . may sell such slock at public unction having given Ihreo weeks provl ins pollen thereof, in a uuwspa-par piihllshod III the county where Urn bank is located, lo any person who will pay the highest price therefor, not le-t limit 1 1 1 uiiiount then due there on and the excess, If any, afler paying the expenses of the sale, t.iall bu refunded to the delinquent stockholder. If no bidder can ho found, who v. ill pay for such stock lite amount due thereon to the bunk, no J costs of advertisement and sale, the amount previously paid ahull bu forfeited to tho bank I and sueh stock may be subsequently sold in such manner as the directors may order. Skction T. The board of bank commissioners shall examine the certificates of the formation of banks, transmitted to them at required by the fourth section of this act, and shall by one of thoir own members or other special agent appointed by them for that purpose, who shall not be a stockholder of any of the bunks formed under this act, Immediately prnooed to examlue the ooudition of each of the banks which shall have transmitted to said board the required certificate ; and it shall be the especial duty of such agent to carefully count or otherwise ascertain the amount of money paid in on account of its capital stock, to ascertain the name and place of residence of each of the directors of each bank, and that their stockholders, directors and officers ore men of responsibility and integrity, and entitled to the public confidence and the amount of capital stock of which each Is the bona tide owner, whether euch bank has compiled with all the requirements of this act nccessa-y to entitle the bunk to engage in the business of banking, and shall cause to be made and attested by the oath of a mujority of the directors and by the cashier ol such bank a statement of all the matorial facts necessary to enable the board of bank commissioners to determine whother such bank is lawfully entitled to commence tho business of banking under the provisions of this act, and such agent shall immediately report to the board of bank commissioners such statement and his proceedings Iu the premises. Suction 8. If upon careful examination of the certificates of association, and the reports uud statements of the special agents appointed to uscertnin whether the banks so organized huve complied Willi the provisions of this act, It shall appear that any such banks have been formed, and that their stockholders, directors and olticers are men of responsibility and integrity, und entitled to public confidence, und tint such bunks or any of them are lawfully entitled to commence the business of banking, the commissioners shall certify the same to the governor, who shall, If he be satisfied that the law has in ull respects been complied with, Is-sue his proclamation, setting forth that such banks are authorized to commence and carry on banking, at the places severally desigualed in their certificates of association. Section !). No bunk shall be organized under this act, ns a branch of the bank of Ohio, In tho county of Hamilton, with a less capital than five hundred thousand dollars, which may be Increased lo any sum not exceeding one million of dollars. Nor shall any independent bank be organized under this act in said county, with a less capital than two hundred and fifty thousand dollars, which may be Increased to any sum not exceeding live hundred thousand dollars ; Provided, tint in no case whore the capital stock of an independent bank is named iu this act, shall the certificates of public debt required to be deposited by such bunks with tho Treasurer of State, bu treated or regarded as any part of such capital stock. Skction 10. No bank shall be established tinder this act, as a branch of the bunk of Ohio, in the counties of Cuyahoga, Montgomery, Franklin or Lucas, with a capital less than three hundred thousand dollars, which may be increased to any sum not exceeding six hundred thousuud dollars, nor shall any independent bank be established in any of said counties with a capital of less than one hundred and fifty thousand dollars, which may be increased to any sum not exceeding three hundred thousand doiur. Skction 11. The capital slock of each bank shall he divided into shares of one hundred dollars each, uud shall bo assignable on the books of the company, in such manner ns Us by-laws shall proscribe, but no shareholder shall have power to sell or transfer nny shares held in his own right so long as he shall be liable, either as principal debtor or otherwise to tlio company, for any del), wlncli shall bo unpaid ; nnr in such case shall such shareholder be entitled to receive any dividend, in terest or proht ou such shares, so lout; as such li-uiililies shall continue, but all such dividends interests or profits shall be retained bv the bunk and applied to the discharge of such liabilities, and no slocks shall be transferred without the consent of a majority of the directors, while the holder there of is indebted to the company. Skction VI. No bank shall take, as security tor any loan or discount, alien on any part ot Its cap ital stock, but the same security, both in kind und amount, shall b required of shareholders ns of persons not shareholders ; and no bank shall be the holder or purchaser of nny portion of its capital stock, or of the capital stock of any other incorporated company, unless such purchase shall ho necessary to prevent loss upon a debt previously conducted in good filth, ou security which at the time wis deemed adequate to insure the payment of such del t, independent of any lieu upon tuc'i stock, or iu case of forfeitures of stock for ihn iioii-payuieul of itiluluieuts due thereon, as provided in tho sixth section ; and stock so purchased shall in no case bo held by the hank so purchasing for a longer period of time than six mouths, jf the same can be sold for what the stock cost, or at par. Skction 1.1. In nil elections of directors, and In deciding ull questions at ineelins of the stockholders, euch share shall entitle (he owner thereof to on'i vote ; sfockholddrs may vote by proxies duly authorized iu writing, but no officer, clerk, teller or book (eeperof the buuk shall actus proxy, and no stockholder whose liability to tlio bauk is past due and unpaid shall be allowed to vote. Section II. The affairs of every bank organized to carry on the business of banking under tlio provisions of this act, shall be managed by not less than five nor more than nine directors. Every director shall, during hi whole term of service, be a citizen of the United States and a resident of this Slate. At least three-fourths of the directors shall have resided in this State one year next pre vious to their election as directors ; each director shall own in his own name and right at least one per cent of the capitul stock of the bunk up to two thousand dollars, and the half of one per cent on its capital stock over Iwo hundred thousand dollars. The directors of each bank, collectively, shail own at leust one-tenth of its capital stock. Each director shall takeau oath that he will so far us llieduty devolves on liiiru, diligently and honestly administer the afluirs of tbe bank, anil Dot knowingly violate or willingly permit to be violated any of the provisions of this act; that be is the bona fide owner, In his own right, ef tbe stock standing In his owu name on the books of the bank and that Ihesamo is not hypothecated, or anyway pledged at security, for any loan obtained or debt owing, which oath, subscribed by himself and certified by the officer before whom It is taken, shall bo filed and carefully preserved in tlio office of the recorder of the county In which the bank is located i but no person shall be president of more than one bank organized under thit act, at lbs tame time. Skction 15. The directors of any bank first elected shall hold their places until the first Monday In January next thereafter, and until their successors shall be elected and qualified I all eubse. qnent elections shall be held annually on the first Monday of January, and the directors so elected hall bold their places for one year, and until their successors are elected and qualified I but any director removing from the State, or ceasing to be the owner of the requisite amount of stock, shail thereby vacate his place. Any vacancy In the board shall be filled by appointment by the remaining directors; ths director so appointed, shall hold his place until ihe neat annnal election t end if from aay cause an election of directors shall Mot be made at the time appointed, the bank shall not for that cause be dissolved, but an election may be held an any subsequent inf, thirty days notice having been given In a newspaper printed In tho county where Ihn bank is loratej. Section 16. Every bank autaorlred lo carry ori Ihe business of banking underthe prnsisiens of this act, whether as a branch of the bank of Ohio, or as tn independent bank, shall beheld and ad judged to be a body corporate, with succession until the first day of May In the year one thousand eight hundred and seventy-seven, and thereafter until Its nfl'alrs ahull lie closed ; mid by lit corporate name shall he competent to contract, prosecute and dufend suits and actions of every description as fnllv as natural nersons. nnil nrocess cashior, or by leaving a copy theruof lit Its usual plucu of business during the usual business hours. Kiich of sai l hunks sliull, until the first day of Ma, In the year ono thousand eight hundred ui'.d seventy-seven, If to long It shall comply with the provisions of this act, have power to loan inoyey, buy, sell, and discount bills of oxchnnee, uotes, and all other written evideucos of debt, rxeept such as It shall be prohibited by this act frjin buying, soiling or discounting! receiving deposits; buy and soil gold and silver coin uud bullion , collect aud pay over money, and trnnsitnl all other business properly appertaining to bulking sub ject, however, to the provisions and restrictions contained In this act ; may acquire, hold and convey tuch real estate as may be necessary to the convenient transaction of its business, and no more, but may, however, acquire title to any real estate pledged to secure any dt.ht previously contracted or purchased ou uu recution or order of sale, to satisfy any judgment or decree in its favor, or which shall huvo been conveyed to it in puy-ment of any previous debt, but shall not hold any real estate so acquired lonper than Is necessary to avoid a loss of any part of the debt, interests and costs, for the anllcctlon and security of which it was acquired, but at any time before selling the same, upon being tendered by the last preceding owner, or bis legal representatives, such turn us shall be necessary to save euch bunk from loss of any part of the debt, Interest, taxes, costs, and other necessary charges for the collection or security of which such real estate was acquired, such bank shall release lo such owmir, his legal representatives or assigns, ull its riljt, title, and interest therein. Skction 17. Notes of ono dollar, two ilollais, three dollars, five dollars, ten dollars, twvnty dollars, fifty dollars, und one hundred dollars each, and no note of any other denomination may be Is sued by any bunk organized under this uctj of the notes issued by unysii.'ii bank, not more than ten per cent of tho nmotjiit shall be in notes of ono dollar each; not in jre than Sve percent in notes of two dollar.1, euclij not more thuu ten percent In notes of three dollurs each; not more than twenty per cent shall bo ijotcs of all denominations under five dollurs; no', mnro Ihun fifty per conl lu no es of all denominations under ten dollars. Section i'i No bank organized under this act, shall, at nny lime, Issue or have in circiiUtion any note, draft, bill of exchange, acceptance, certifi cate of deposit, or other evidence of debt) which, from iU character or appearunce, shall he calculated or intended to circulate us money, other than such notes of circulation as are by thiauct descri Led, and which such bank is expressly authorized to issue fur the purpose of being circulated us money.Section 1!). F.ach hideneiidant bank shall re ceive at par, at the office or banking house of such bunk, in payment of debts due ut such bank for notes of hand, hills of exchangcor other evidences of debt, discounted or purchased by or belonging to such bank authorized to issue such notes by tMs a:t, which sliull ut the time redeem its note' in gold und silver coin; and every branch bank of the bank of Ohio sludl receive nt par at tlio office or banking house of such brunch in payment of debts due ut such bulk for notes of hand, bills of exchange, or other evidences of debt, discounted or purchased by, or belonging to, such branch bunk, the notes of circulation issued by any oilier brunch of the bank of Ohio. Section Hi), teach bunk shall at all times have on hand, in gold aud silver coin, or their equlva lout, one half ut leust ol which shall be in gold and silver coin, in its vault, an amount equal at leust thirty per cent of the amount of its out-standing notes of circulation; and whenever the amount ol its outstanding notes of circulation alinll exceed the abovu mimed proportion, no more of its notes shall ho pai l out, or otherwi.se put in circulation, by such bauk, nor shall such bunk increase its liabilities, by making nny new loans or discounts, other than discounting or purchasing of exchange, payable ut sight, nor make any dividend of ito profits, until tho required proportion between its outstanding notes of circulation, and gold and silver coin, or their equivalent on huud, shall be restored. Actual deposits with any solvent bank or banker, of established credit, in tlio cities of New York. Boston, Philadelphia, or JJultiinore, subject lo be drawn ufainstat si;h', payable iu gold und silver coin, shall be deemed equivi lout to gold and silver coin, wherever these terms are used in this act. Section 21. No bank organized under this act shall at any tini" he indebted or in nny way liable to an amount exceeding, if a branch of the hunk of Ohio, two thirds, or if an independent hunk, the whole amount of its capital stock undiminished by losses or otherwise, except on the followinguc-counts that is to say, tirsl On account of Us notes ol circulation; Second Ou account of moneys deposited with or collected by such bunk; Third On account of biils of cxc'iangn or drafts drawn against money actually on deposit to the credit of, or due to such bank; Fourth Liabilites to its stockholders on uc- eoiiiit of money paid i:i, on capital stock und dividends thereon. Section 22. No bank shall, either directlv or Indirectly, pledge, hypothecate or exchange uny of its notes of circulation for the purpose of pro curing mone), to be paid in on itscupilul stock, or to he used ill its ordinary banking operations, or for the purposd of purchasing certificates of state stuck to be deposited with the Treasurer of Slate, or with the buuk of Ohio; nor shall any bank ap ply or perini'. lo be applied, hypothecated or pledged, any portion of Its capital stock to the purchase of ceniheutcsof r-tites'ock, to be deposited with the Treasurer of .-tate, as collateral security lor the redemption of its notes of circulation. Section 3.1. No bank shall, during the tiino It shall continue its operations ns a bank, withdraw or permit t. bo withdrawn, either in form of dividends, loans lo stockholders, for a longer period of lime than lour mouths, or in any other manner, any portion of its capital stock; and if losses shall ut any lima have been sustained by uny bank,eqiml to or exceeding Its undivided promt ineuon liai.ti, no dividends shall be made, and no dividend shall ever bu muile by any bank, while it ihull continue its banking operations to an amount greater than its net profits then on hond, deducting therefrom its losses and bad and suspended debts; uud all debts duetoabauk.au which interest is nasi due and unpaid for a period ol six months, unless the same ahull be well secured, and shall he in the process of collection, shall be considered bad or suspended debts, within the meaning of this section. Section 21- Tlie directors of each b mk shall semi-annually on the first Monday iu May and November, declare a dividend of to much of Ihe net profits of bauk as they shall judvre expedient; and, on each dividend day, the cashier shall mako a full, clear und accurate statement of the condition of Ibe bank as it shall Von that day, after declaring the dividend, which shall be verified by the oath of thecuhir, president and a majority of the directors; and shnilur statements shallalso be made on the first Monday In each month, In each year, which statements ahall contain, First The amount of the capital stock actually paid in, and tbe remaining, as the capital stock of tbe tank; Second The amount of the bills or notes of the bank then in circulation, specifying the amount of each denomination; Third The greatest amount In circulation at any limo since the making of the last previous statement, as shall have been exhibited by the weekly statements of the cashiers, specifying the limes when the same occured; Fourth The amount of balances and dehts of every kind due to the branches of the bank of Ohio, the amount due to oilier banks of the State, and the amount due to banks not of this State. fifth The amount due lo depositors; Sixth The awouut of debts and liabilities of every description, and tbe greatest amount tince the making of Ihe last previous statement, specifying the time when the tame occurred; Seventh The total amount of dividends declared on Ihe statementi f.lghth The amount rtf gold and silver eoln end bullion belonging to tuch bank, and In possession, sl the .time of making the statement, designating lli amount of each; Ninth The amount subject to be drawn at tight, In gold itld sliver, then remaining on deposit with solvent specie paying btuki or btukert, In Ihe cit- Hos of Now Vork, Philadelphia, lloslon mid Haiti-more;Teutli Tho amount llien on hand, of hills nr notes, Issued by branches of the bunk of Ohio, the amount Issued by other bunks of this State, nnd lb amount Issued by bunks not of this Stale ' ICIevouth The amount of hulunc;a due from branches of the bank of Ohio, the amount u from other banks of this Stale, and the amount due from bunks not of this Stale, excluding, In (he latter case, deposits in thoclllui of New York, Philadelphia, Huston and llalllinore, subject to sight drafts, payable In specie; Twelfth Tho amount on hand of hills, bonds, notes nnd other evidences of debts, discounted or purchased by the bank, specifying particularly tho amount of suspended debt, tho uiiiount considered bud, the amount considered doubtful, uud the amount In suit or judgment; Thirteenth The value of the real and personal properly, held for the convenience of tlio bank, specifying the amount of each; Foil rteenlh The amount of real cst.ito taken In payment of debts due Ihe buuk; Fifteenth Tho amount of the undivided profits of the bank; Sixteenth The total amount of liabilities lo the bank of the director thereof, collectively, specifying the gross amoniil of such liabilities asprin-clpal debtors, and the gross amount us iitdorjors or sureties; Seventeenth The total amount of liahilit'.es lo the bunk of the stockholders thereof collectively, specifying the gross amount of such liabilities us principal debtors, nnd the gross uiiiount as Indnr-sers nr stiritios; which statement shall be forthwith transmitted to the Auditor of Stale. An abstract of every such statement showing the ;oudltion of Ihe bank, shall be Immediately published by Ihe bank, in some newspaper printed in the county where sueh bank is shunted. Section 25. The general assembly shall never Impose any greater tax upon prop, ity employed In tanking under this net than Is or may be imposed upon the property of individuals. Section 2(i. F.very bank org mized under this act may take, reserve, receive and charge on any loan or discount made, nr upon any note, or bill of exchange, or other evidence of debt, nt the rate of six per centum per annum on the amount of any such noto bill of exchange, provided, however, thnl interest may he reserved nr taken in advuneo at th lime of making the loan or discount, uccoru lug to the usual rules of banking, or ns calculated in Rowlett's tallies; nnd the knowingly taking, reserving or charsinir on any debt or demand dis counted or purchased by such hank, at u rate, of interest greater than that allowed ny tins section, shall bo held and adjudged a forfeiture of such debt or demand, but the purchase or discount, and the taking or reserving of interest thereon ut the rate aforesaid, from the time nf such purchase or discount, until tho maturity of such bill or note, shall not bo held usurious, although exchange on the place where It Is ma lo payable, Is at the tlmo of such purchase or discount, worth a premium; nor shall Ihe discount or purchase of a bona fide bill or note, payable uta place, between which and the place of discount nr purchase, exchange is in favor of the place of discount or purchase, and tho taking in addition to the rate of Interest aforesuiJ, the rate of exchange between such places, be deemed usurious; provided, no more then one half of ono per cent shall be taken as exchange upon uny such paper pnyablein this State, and no more lliun one per cent upon any such paper payable out of this State, nnd in no ense shall more than the current rate of exchange betweeu such places be taken.Section 27. Tho total liabilities of any person or of any company or linn, (iucltiditr.: in the liabilities of n company or firm tlio liability of the several members thereof,) to tiny hank urgauized under this act, inclusive of liabilities us acceptor or acceptors, ono fifth, and exclusive of all liabili-Tr. '..--i. ..r ,.,.,ti. ..-.rt ..r ties on audi bills of exchange one -lentil part or the amount of the notes which such liana is authorized to circulate nt the time of such liabilities Section 2c). Nu bank shall, ut uny time, pay out ou loans or discounts, or in purchasing of drafts or bills of exchange, or in payment of depositors, nor shall it In nny mode put iu circulation the notes nf any hank or banking company which notes shall iiol nt that time ho receivable nt par in payment of debts, by the banks so paying out or circulating such notes, nor shall it knowingly puy out or put in circulation any notes issued hy any bank or banking company which nt the time of such paying out or putting hi circulation is not redeeming its notes in gold and silver, nor any notes issued hy uuy bunk out of this Slate, Section 2U. All notes, bills, and other evidences of debt, excepting bills of uxchuiige, discounted bv u ii v bunk, sliull be made by tho terms there of, or by special indorsement, payable solely to -lie h bank, and no sucli evidence ot ueiii snan ue assignable except for collection, or for tho follow inir purposes: First To pay and redeem tlio circulating notes of such bank; Si oond To pay other liab'lilies of tho said bank and after such liabilitiesNliall have boon discharged Third To divide among tho shareholders on their stock. Section 30. No bank organized under this act, shall issue any certificate of deposit, order draft, bill of exchani'o. or otiier evidence of debt, pay able iu currency or in anything less valuublo than gold and silver coin, except receipts for epecial deposits ; nor shall any such bank keep nny accounts In euireiicy or iu unything less valuablu than gold and silver coin, except accounts of actual deposits. Section 31. No bank organized under this act, shall be permitted, on receiving payment at Its bankiuir hruse.or other placo than where lliosaine was payable, of tiny note, bill, or oilier eviilenco of debt, duo to sncii Dunn, aim payuoio at a piace other than at its Ii inking bouse, to receive in addition to the uuiii-ul of such debt and the legal interest duo therooti, any sum whatsoever as ;re-miuni, exchange nr damages ; provided, nothing iu tills section contained shall prevent such bank from receiving the damages allowed by law upon any bona tide bill of exchange, duly protested for uon-acceiitaiice or non-payment Section '.ii. A)l transfers of notss, boads, bills of exchange, aud other evidences of debt owing to a iv bank, or of deposits to its credit f nil as-igii incuts of mortgages or other securities on real es tate, or of iudtriiHiits and decrees In Its favor; nil depesits of money, bullion or other valuable tiling for lit use, or for the use of any of its stockholders or creditors ; all payments of money to either, made ufler the commission ol uu act of insolvency, or In contempladon thereof, with a view to prevent tlm application of its ussets in Ihe manner prescribed by this act, or with a view to the preference of ona creditor to another, except In payment of its circulating notes, thull bo held utterly null and void. Section Xi. If the directors of any banks organized under this act, shall knowingly violate or knowingly permit ony of the officers, agents or sevunts of such bauk to violate any of Ihe provisions of this act, all the rights, privileges and franchises of laid bank shall thereby be forfeited audi vlolulijn shall, however, bo determined and adjudged by a court of competent jurisdiction, agreeably to the luwt of thit Slate and the practice of such court, lfor the corporation shall be declared dissolved ; and lu case of such violation, every director who participated in, or assented tn the same, shall be held liablo ill personal and Individual capecity for all damages which the company, its shareholders, or nny othor persons body corporate or corporate, shall hare sustained in consequence of such violation. Section 34. Kvefy president, director, cashier, teller, clerk, or agent of any lank, who shall embezzle, extract, wilfully misapply any of the moneys, funds or credits of tuch bank, or shall, without authority from the directors, Issue or put In circulation any of Ihe notes of such bank, or shall without authority, Issue or put forth any certificate ol deposit, draw any order or bill of exchange, make any acceptance, sign any note, bond, a.-.ift bill of exchange, rrior'gage, judgment erdf cree, or shall make any false entry on any book, report or itatement of Ihe bank, with an intent In either case to injure and defraud tuch bank, or to injure or defraud any other company, body corporate or politic, or any Individual person, or to deceive any officer or agent appointed lo inspect Ihe affiairs of any hank in thit State, shall be deemed guilty of a misdemeanor, and upon conviction thereof, shall be confined In Ihe penitentiary at hard labor, not lest than five nor more than ten years. Siction 33. Stockholder! in banks organized under tills acl, shall eneli Im Individually and severally liable In the creditors of a bauk of which lliey are stockholders, In u sum equal In uiiiount In Ihe stock owned hy each, and should any such hank become insolvent, and I'm assets bo found Insufficient to puy Its debts and liabilities, its stockholders may be compelled lo puj such deficiency, III proportion lo the amount of stock owned by each, ami should the whole iiinouiit for which stockholders are individually responsible ns provided In this tection, bo found iu any case to be Inadequate to tho payment of all tlie debts of nny hank, after the application of its assets lo the payment of such debts, then, nnd lu thai case, tlio moneys dun from stockholders on account of their Individual liabilities uu sueh, shall be distributed equally among nil the creditors nf such hank, in proportion to tho Amount duo each, the personal liability in this tection provided for, Is over and above the stock owned by stockholders, and nny amount unpaid thereon. Section III!. The (lenornl Assembly may alter or repeal this acl at pleasure, but no act altering or repealing this act, shall Impose any injustice or wrong upon tho stockholders of any bank organized under II. Section 117. Every corporation organized Under this act, shall have power to iiink" ull nocessary and proper by-laws for the management and control of its business and to fix and regulate the rale of Charcot for niaklnir collections. The bunk of Ohio may revise the by-laws and may also revise tho regulation of the branches concerning charges for mnkliiB collections, and cause botli to be made uniform among tlie branches, or as nearly so as may lie deemed expedient Section 3H. Tho corporations organized under this act shall cantlniio to exist so long n necessary for tho settlement of their nllliirs, notwitlistaud-intr the repeal of this uct : and no law shall ever be passed diverting or appropriating the assets of any such corporation io any purpose oiner man io Ihe pavuient of tho delita iind liabilities, ami the distribution of the residue among its stockholders In proportion to tho stuck by them severuiiy owned. IN RELATION TO TIIE IiAN'K OF OHIO. Section 3!l. Whenever from on inspection of the certificates transmitted by bank commission ers, it shall appear that any number of said banks not less than five, have made their election to I transact their bnnking operations as branches of the bank of Ohio; and have complied Willi ine re iiiircmeiita of this act prelliniuiiry to the commencement of huukiiiL' operations, then said com missioners shall immediately notify each of tlie said banks thereof, and within ten clays alter ro ceiving such notice, they shall each appoint in such manner ns the directors thereof shall pre scribe, one person to bo u director of the batik of Ohio. Hut no person who is not a citizen of the United States, and a resident of this State, und wlio has not resided within this State at least one year next previous to his appointment, shall be such director. Section 10. Tho directors of the bank of Ohio who shall have been appointed agreeably to the provisions of tlio preceding section, shall, from the lime of its organization until the first day of May, in Ihoyeuroue thousand eight hundred uud seventy seven, nnd thereafter until the allairs of the several branches of tho bank of Ohio shall be finally closed up, ha a body corporate, Willi succession, and by the name of tho bank of Ohio, capable of contracting and of prosecuting, und defending suits or uclinns, ns fully as natural per sous, and of doing all other ucts and things necessary to eti'ect tho object contemplated ill this act by the formation of said corporation. They sliull moot In tho oily of Columbus at such timo as shall be designated by the board of bank commissioners, who shall give ten days previous notice to each brunch ol the time of such meeting ; they ahull each take an oath diligently, faithfully and impar- iiuny m perionn erfonn the duties imposed on uiem uy this act: a certificate of which oath shall be filed mid nreserved ill tlie office of the Secretary of Slate. They shall organize, provided two-thirds of the whole number shall bo convened, ny electing some suitable person us president, whose duty it shall be lo preside ut the meetings of the board, and sign its official documents. They shall elect a vice president, whose duties shall he prescribed by Ihe by-laws of the corporation. They shall appoint a secretary, who shall keep a fair and true record of the proceedings! of the bank. They shall keep an office iu tho city of Columbus, which, to-ether with their books, papers, records and accounts of every description, shall at all timos be open to tlie inspection of any committee of the geiierulassemblj, or either brunch thereof and of any commission or commissioners especially appointed for that purpose by the general assembly, and of any person appointed uy any one oi mo branches. They shall procure ami furnish cacti branch with notes for circulation, and deoido on the ninout to bo furnished from limo to time to each, within tho limits and agreeably to the rules and restrictions prescribed by this act. They may prescribe rules for tho settlement of balances be-tweon thn branches. They sliull have power by themselves, or by a committee of ono or more membors of their own body, or by a special agent appointed for that purposewhenever and ns often us they shall think proper, to visit uny branch, inspect its books, records and accounts, and all the evidences of debt duo to aud securities held by such brunch ; cxamino and ascertain tho amount of money and other property held by such brunch; examine on oath the president, vice president, directors, cashier, nnd all other ollicers, agents, clerks or servants of the branch, touch,nig its condition, means uud liabilities. They shall have power to rcquiro any brunch lo reduce its circulation or other liabilities, within such limitsas they Bhull, after full inquiry into iti condition, deem nocessnry to secure from loss either the dealers with such branch, oi tlio other branches of the bunk of Ohio. They may require tlio officers of each brnuch to mako out, under oath, and transmit to the office of said bank ut Columbus, statements of tho condition thereof, in such form as such bank may prescribe, and as frequently ns they shall deem proper, which statements shall be recorded iu u book or books to bo kept for that purpose. They may appoint tin executive committee of not less than three, of whom tho president, or vice president sliull be one, to net in behalf of the bank in such castn, and perform all such duties as shall bo prescribed by the by laws of said bank, nut inconsistent with this act. Section 41. The president, vice presldont, and secretary of tlin bank shall each receive such compensation for their services ns saij bank shall ul-low, which shall bo nssessed upon the several brauelies of Iho bank of Ohio, in the ratio of their capital Btock. Tho bank may uIpo allow the executive committeo such compensation ns it shall deem just and reasonable, to bo paid by the several branches lu tho tamo manner ; and the expeiiBet of procuring plutes and printing notes nf circulation, shall be paid by tlie several branches in the ratio of the notes of circulation, received by each. Section -I2. Each director of the bank shall continue In office until tlie first Monday of February, next after hit nppoinlisent, and until liis successor shall be appointed and qualified ; vacancies In tho board shall he filled by tho branch by which the appointment vacated wot made. In voting, each member shall be entitled In ono vote, and to one additional vote for ever) fifty thousand dollars of tho amount of cupitid stock pa.d into the bank re- j fireaented by him over ono hundred thousand dol-ars, at the time of tuch voting. Tin president and vice president shall hold their offices for one y-nr, and until their successors shall be appointed, but they may be removed by a resolution of the board. They shall bike an oath faithfully, diligently and impartially to fulfill the duties of their appointments nnd not knowlmjly violate sny of the provisions of this act. They may be required 16 give bond In such turn, nnd with such tecuriliet as the bank shall prescribe ; and all vacancies iu laid appointments sb ill be filled by the bank. Section 41. All notes Istued by any branch, Intended to circulate as money, shall be payable at the branch which they are istued, In gold and silver coin, the lawful currency of the United States, or either, st the option of the branch, on demand; they shall be signed by Ihe president or vice president of the bank of Ohio, countersigned by the cathior of the branch by which they are issued, made payable lo bearer, and thall bo negotiable by deliverer; all other evidences of debt, Issued by tny branch, shall be negotiable or transferable iu the same manner at if Issued hy a natural person, and shall be binding on the branch, whether under leal or not, and all such et ijoucrs of debt, other lliun notes nf circulation, ahull ho payable to the order of some person therein named. Sec iion 41 No branch of tho Hank of Ohio shall, ol any time, have tit circulation notes In tho similitude nf bank notes, to an amount bearing a greater proportion to Ihn capital slock of said brunch actually paid iu, ami at the lime remaining undiminished by lnss or withdrawal, than the proportion hereinafter specified, thai Is lo sayi On Iho lirt hundred thousand dollars, or any lesser amount nf Us cardial, not more than twice Ihonmiiiil of such capital. On the second hundred thousand dollars or pirl thereof, not more than once and Ihren quarters tin union ut ol such capital, over one hundred thousand. On Ihe third hundred thousand dollars, or part thereof, not more than nncc nnd a half Iheainoiiiit of such capital, over (wo hundred lliousulid, On the fourth hundred thousand dollars, or part thereof, not more than once and a quarter the amount of such capital, over three hundred thousand, "lid, On any amount of capital over four hundred thousand dollars, not mnro than an amount i qual, to such cnplial, over four hundred thousand. ' Section 4.'i. Notes designed for circulation shall bo delivered by the bank cf Oh it lo euch branch, on n written order, signed by Urn president and a majority of tlie directors of such branch; such oril.Ti shall be carefully preserved hy said bank III Its ollicc; mi accurate account of nil the notes so delivered , Iho nnioiint of the notes of each denomination so delivered, und the date of such delivery, shall be kept by the bank of Ohio, in n bonk or books, tn be provided nnd kept in lis office nt "oluiiihus; ull Holes so worn, defaced or mutilated, as to he unfit for circulation, shall be returned by the brunch by which they were issued to tlie hank, and an equid uiiiount of new i.otes received therefor; all such notes so returned by u branch, shall be credi led, und all new ones delivered ill their stead sliull be charged to mhIi brurch on the bonks of said bunk; nnd the notes so returned shall he burned to ashes lu ll c presenie nf the president, and ut least two of the directors of said bank. Section -ll!. Before the bank shall deliver to any branch, notes fir circulation, it shall require such brunch to pay over or deposit lo the credit of said bank . ns snid hoard shall order, either In molt ) sun Poaru snail oruer, eiilier In molt- n , , ... . . . .' lifioate. of the stocks uf Ihe Slate, nr hM.h 0 ltl'0.,er, ill,, tho brunch miph-d States, ut their current value in the l"lt ''''''-'"I'lnt, setting turtl. tlm siil.stnnt.rt of ev or in oertiliout of the I'uili city of New Yurk, hut in no Instance utiove their par value, nil union nt equal to ten percent, op the amount of the notes for circulation which shall In-delivered to such branch may , by tho paying ill of nn additional amount on its capital stock, or by not havjr? received the uu mint nf notes for circu lation to which it w as previously entitled, he authorized to demand an add tioual amount of notes for circulation, such brunch shall deposit with tlie Dana it'll per ceni. on me uinnitiii or noies so re-1 quired; and tho stocks and money so deposited shall be denominated tho "safety fund," and shall I lr("!' '""'J'ncud nig Willi, or in any inauncr (lis bo invested as hereinafter prescribed, and held by P0S.'"S oli books, papers, money, choses in the bank as tho properly of said brunch, iu trust j action, assets, or property of the branch, wbfilso-for the benefit of the several brunches of the Uunk i ever, unljl tin; further ufder of tlm supreme court, of Ohio, and as a fund for the redemption of the , or some jud;o thereof. The petition shall be til notes of circulation of uny one or more of niid i eil in the supreme court at Colunibu.-' ui .soon a branches that nny fail to redeem its notes, to be! injunction is allowed. ' ' applied to that purpose iu the manner pointed out "SrcTlos .'Hi. Cnon tho i,llw;in,.c f such in- V i7. All money depositor paid the bank on account of iho safety fund, by any f 'S ' evr? l ch brunch, -hall brunch shall ho under the direction of said hank, " vest in Ihe Hunk ul Ohio, who shall ap. Invested by such brunch eiiher in slocks of the pot a receiver, to take possession nf the same, State or of the United Sut.-s, or in bonds secured 113 provided iu the -19th section of this act. A by mortgages on itii:ncuiiihered real estate situalel Ihe county where such branch is located, or in adjoining comities, of at least twice the value in each cuso of tho amount secured thereby, exclusive of buildings or other fixtures subject lobe do stroyod by fire, by floods or other accidental occurrences, or of limber, mines or minerals subject to waste; which bond shall be made payable on dsiuaiid to tho tiuuk of Ohio, und shall bear such rate of Interest as shall be agreed on by the parties, not exceeding seven percent, per annum, payable senii-uiinually. liach brunch shall b entitled to receive the interest uccriliug on the slocks or bonds in which its portion of the r.il'ely fund shell have tieen invested; uud in case oi t,ie insol vency oi uu ; or-iiu u.uie ii-s aim ouiius in which j the money of such slock and bonds shall b? sufli-. cient to redeem lis outstanding notes of circula-1 lion, shall, as far as practicable? be first converted 1 into money and applied to that purpose before any partof the safety fund belonging lo other branches , ahull be so applied. I Sectiom 4i. Tho stockholders collectively, ofj any branch hhall nt no time be liablo to such branch, either as principal debtors or surities, or both, to I an amount exceeding one-third part of the cupilul I slock of such branch, then uc.tuully paid In, and remaining us capital stock ; nor shall the directors, collectively, bo tollable to an amount exceeding one-third part of the stock actually paid iu, stand- ing iu their names, and of which they are collec- lively the bona fide owners iu their own right. Sf.ction 4U. If any branch of the Hank of Ohio shall refuse to pay its notes of circulation, or any of them, in gold or silvir coin ol tlie law lul cur-1 rcnc.y of the UnitedStiiles.on which payment shall j be lawfully demanded tit ils banking house or ens-1 tomary place of doing banking business, during usual banking hours, such branch shall be deemed j to have committed an act of insolvency, and there- upon ull its pronerty, credits, securities, liens and assets of every description shall forthwith vest in ! , , " " f:, 'uuepcuieni wink, and be tho property, credits, securities, liens and i Jlvi? c;otn.aiiy or (tee bunk coated by tie, assols of the Uunk of Ohio, for the uses uud pur-1 ':lw.l this State, and authorized iMUe notes pnscs declared :;i this nc, I ll,r circulation may, alter the organization of tho Suction 50. The Dank of Ohio, on receiving! Hatik of Ohio, become a brunch of lb" BaiA ot information that any branch has committed un act ! Ohio, tipo-) ftrH couijiiiimce uiili ull ihe rcfjliisi-nf insolvency, shall forthwith appoint a committee ' tions of tils net ucivssiirr to errata n branch "I of ono or more of its directors, w ho shall mukeiin-1 such bank. 'i'Le directors of uny su. h t r'stiiu: mediate inquiry Into tho truth tf such information : m,) itriiiinfr as Elicit brunch under this act", and report ther on to the board; and if tho board mav (iu U11J ,.rrm uli the a"ls rewirod o' ahull be satisfied from the report of the committee Unit such brunch lias suspended tlie payment of its notes in geld and cilyer, they shall forthw ith appoint u suitable receiver or receivers, who sliull take immediate possession of the books, records, money, chose in action, and property of said brunch of every description, and hold the same lor the i ot lit use aud benefit of Ihe oilier brunches of the Hank of Ohio, and tho creditors of the failing branch; and said II ink of Ohio shall immediately provide money and plnce thn tame in such solvent branch or branches us muy be most convenient for the purpose of redeeming the notes of such failing brunch, aud shall ttivo public notice thereof iu sumo newspaper printed in the placo where such falling branch is located, and also in some newspaper of generul circulation published ul Columbus Skction fil. 1ichsuiveiit Iraucb plial! contribute, in (lie ra'io ef the circiiluliuli to which It Ik i milled, to tho sum necessary for redeeming the Holes of the failing brunch, us provided in the pro ceding seciion, on tho requisition of tlie Hank of Ohio, und may lie remunerated lor aucti coiilriliu-tiuii, from tlio eaJ'ely tuiid, as soon us money suf-fuient can be raided from that fund, by a sale or hypothecation of the etock, funds, or oilier truuii-lies belonging therein. Section b'J. Tbe receiver or roceiver.i appointed as provided ill the forty ninth section, shall be required to give bond in such auin and with such aecuritiesua the U ink of Ohioahull judge sufficient, ami under tho direction of said bank, shall pio-ceed to settle up the niftirs of such brunch, and convert its assets into money; the money so uudo shall applied: First To reimburse all moneys which slml htivo been advanced by the several branches for Ibe redemption of the notes und bills of the insolvent branch, and which may nol have been previously reimburse! from the safety fund. Second To relniburseall moneysadranccd from the safety fund, other than moneys derived from that portion ol tbe safety fund furnitbod by tbe falling branch. Third To the payment and discharge of all tbe remaining li .bilitln of each branch; and xourili I lie resi.iue snail ueoiviuea among ine stockholders of the fulling branch, in proportion to the stock cy them respectively netd. SixTtov ."H. If nny branch against which the nank of Ohio ilmll havo instituted proceedings on account of uny iiipposed act oi' insolvency, as prescribed uy the forty-ninth section of this act, shall deny having committed such act of insol vency, such branch may apply lo any court i f competent jurisdiction tor a wnt ol injunction lo said Kank of Ohio, to suspend all further proceeding against such branch as an insol. en t bank; nml such court, alter citing soul Hank of Ohio fa appear nnd show i.anse v. by null writ should not lie granted, nnd After llio finding of i'jury M such lirnnch Ims ut all times continued, and still continues to redeem, in gold nop nilvor coin, iU nolcs ul uirenlntion, sliull mu( ,, orilnr.cnjoin-mp tho Imtik of Ohio from all further procacd-nigs iij,'iilii8tRiich branch on iiecniinl of (ho sup-posed uct of insolvency on which suchja-oceed-ings wero iiiKlilutod, and thereupon all tlie prop, erty nml assets uf such brunch shall he restored 1 1 its dircctorr. Section lit. If tile tank of Ohio sl,l j Rny case, fail to proceed in dm maimer prescribed in the f. ingoing sections, of this ad, in providing lor tho payment nf Iho oiilstunding poles of circulation, nml in idokinpthe nlliiiis ol'nny branch that shall liavu committed un net of insolvoncv, the holder of uny of ils notes of circulation, or other creditor of such branch may, m case payment of such notes of circulation or other claim bus licen refused when lawfully demanded, and rnmiiins unpaid, apply to niiyemirt of competent jurisdiction for its writ commanding tho liankof Ohio so to proceed; nml it shall bo the duty of such court, nl'ter citing such Imnk to nppcar nnd show cause why such wiit should nnt jsnue, and upon the finding of n jury that such act of insol-veiiey has been committed, to isrrne Ihcir writ coiiiiiinmling paid Lank to forthwith proceed in the manner pointed out in the preceding sections of this net, to provide for flic payment of the ontstamliiijf notes of mrh bnineli.'closc- up its alliiirs and mnkc apiilicnlimi of its nssets. Skction ;V"). That if any branch of the Hank of Ohio shall neglect or refuse to omtdv with any order of tho Jiaiik of Ohio, rc(iiini,g sm Ii brunch to reduce its circulation or other liabilities, or to provide a larpei1 uiiiount of specie "t 'itlur tnetiiH, or to pay in its stock, or .i do, cr coai--') to do, nny other mailer, or thing wiiicli sail Iciiilc may deem neeessui y un tho .security of such branch, ur any other brunch or brunches, said bunk or any director thereof, acting for sn'nl banlo may npply to any judge of the supiumc court or court of common ileu.s, of ativ judge of n superior court, by petition, in whit di the fiuiilr ..f f ll",. such oruor, or oruers, una such i.ogleet, or rein-sal, on tho part of the brunch, its ollicers or agents to comply therewith: nnd if the fiojiden lice president, of any direct. .r of the lumlc, slH mako iiliidnvit of the truth of the lads therein ta ted, it shall be the duly of such judge; lo alb, wan injunction, und to enjoin such branch, in officers,-agents, and nil others in its employ, or Conner? " inerewun, irom doing-, or sullering, or permitliBr; , , . , , i : Ue .u""0' a'!v, .""' wlmtevor as u bunk, arid eertilicatc ot appointment or siu-li receiver, by the juoY'e, or court, or clerk thereof, making the samn sliull be sufficient authority to him to take. ,m. session of the hooks, property, and rights of every description, nf such branch, nnd shall bo fu1! authority to the slierill'of tlie county, where the branch is located, to givo such receiver full pes-sessiow of such books, property uud rights, vii'.lt the aid of tlie county, if required; and said hard, and receiver shall bo governed hy tbe provijioni of this net, ns provided in eases' of suspense ii:' and upon tbe did o'lttion of such injunction, or u, discontinuance of such suit bv the bank, nil tlio rii'lits and nronertv of sm h branch h:li t..j tort'H to nild Vest III SUld branch S(.,.TI,)N. i7 Thfl Jir,.t.(1.,lf ,. k f (,; n-l,n.-, ,1, ... . i . , ' ' 1" n . . r n,nV1"e'" ' "l't- V estii'ilish iw ol hen in each or either ot the citi,-. 01 A.uw J ok, Cincinnati nnd Cleveland, for the receipt ot deposits nnd redemption ol'tho eireula- iT "ftes of the brandies, upon such terms tis they way, Irotn time to time prescribe, and uls. it elenriiio; house at Columbus. Thev mav mako nil rules and roi'tihilionn in.c,.;Hru ',. iti., i....,,! ; management of such offices nutl c'lenrin" b.dit.. requiri. tte several branches to co.ilribut'c to the ',,;, i p i, ,m.. . i- l ltif L. 'fm- ""L "'''J I' cent, the slock pa.d in by each brunch, and I 'ml;' "? branelies to make their i.-oUeotuintr j aml deposits with said offices, and to employ ail "Tents ns may l.e iifce.nrv. The) not prof- oi mo unices sunn bo divided lunocg the branches equitably. The office in New York, in transacting its business nt that place, trnj take, reserve, mid receive sueh rule ol interest as is ci mnv l0 awfu uv ,,u 0f ,10 g, f ))f y York, and no more. -.w '..-..- v ' .i . stockholder lo perlect sucli organiialioi.: and af ii ii . ... . . . ter tlio full urjjaiiizntiori of any such i istin bank ns a branch of the Hank of Ohio, such orig inal corporation shall be held to he di-sulv. d, e cept for tho purpose uf collecting it m sets an I the final settlement of itd all'uirs in the mnnnt-t provit'c I in its ehar'.i r; provided, that nothing in this section contained shall be so couMnti l as tw require tbe lJurik iff Ohio to admit inn sm h in dependent or free bank to bceiifiu brum hot tho liaiik of Ohio cliu.'l be satisfied ih.it 'ben-1-mission of such bank will nut jeopardize tlm in terests of the public, or ul'ilu. ,,f di,;.,. Sittiox The Itniik of Ohio, after c'.ul lishiiif? i!s agency iu Vw York. d(ail. as a Ui ii us lur tliis charter, in addition to 1,'it- taxi s to bit assessed under the twenty .fifth section of tbisac? when reiiiired by the proper oliieers of the Stato of Ohio, discharge ihe duties of transfer agent o! the State nnd receive nnd disburse for the Stata all moiiys necessary to be received nnd disbort ed in that city in I'm payment of tlio public debt and interest tlierenn wiih-mi any oilier compen salio.i or tl.urge fo." jii'di service. IN lUa.YUu.V TO JXIWKN'PFST BANK. , , SriT'oS flO. fins. Ii company tJial shall Lava elected to carry on ils business as an independ cut haiilt, aiu) ahall iia,v complied with tb re liiirt-iiteiitJ of t Ms net, pit limiimri to tbe coin meiieeiiient of biilikii g husiini, shall, blure L' shall commence -such bu-inen, and before it (half be held to bare acquirm! corporate powen de. posit with and Irans'er to the treasurer of StaU certificates of the funded debt of this Stale, of the United Slates, of the St'ef llaMncliusMtt ludiaim, Illinois, Kentucky, l'cnnsylrauia, Mary' land. New York or Michigan one'hajf of rliid, shall be iu the certificates of the L'niiej States and uf ibis S'utc. an amount at least equal to the amount af its capital slutk at such time urn iui ami from lime lo time an io abji:ional in. ; tlallment or portion of its r.ipiinl slock shu'l 1 1 paiu m, aMitmrnl certificates of ths funded deU above poiticd. at lea.t p-jiml iu amount to the amount of such additional payments i-f capitjl stock shall, aiibin thirty diva afirr inch par. me nt, be deposited with and transferred to lL treasurer of State; hut no inch certificate 4 funded debts ahall be received b laid tresaur f at a rata or prise above the arera?" selang pri4 of audi certificates at the N"J York stock .- changs for the four swka next preceding timt) of the receipt thereof by the treasurer, of ilTincluded on fourth T'J if. it 1 W II s