TERMS 01’ PUBLICATION. £3 00 per annum, in adVance—pr S 3 50, if not paid within the year. No subscription taken fora less term than six Months, and no discontinuance permitted until «ll arrearages are paid. A failure to notify a discontinuance at the expiration of a term, will. Oe considered a hew engagement. Advertisements —~gl 00 per square for the first three insertions, and twenty five cents for - every subsequent One. . .w *ict : - ' To,provide revenue to meet. the. demands on the Treasury, and for other purposes. . ■ . Section 1. .Be it enacted by the Senate •and House of Representatives of:tlie Com . tiionwealtli of'Pennsylvania in General As sembly met, and it is hereby enacted by the authority of the same; That the Governpr be. and he is hereby ‘au thorized to negotiate a loan for the repayment of which the-faith ■of this Cpmmonvvealtli is liereby pledged, bearing an interest of five per cent, per an num, payable half yearly on the first days ■of January and July, to be redeemed at the end of five years from the passage of this ■act, or>earlier, at the pleasure of the legisla ture, to an amount nbt exceeding'in the whole three millions one hundred 1 thousand ■dollars, to be negotiated -and disposed of as hereinafter-particularly provided, and to be transferred on,the books of the Auditor Ge neral’s olficc, as-thc other public stocks of the Commonwealth are now by law transfer able in certificates of .not less amount than ■one hundred dollars. Sec. 2. That the several Banks of this Commonwealth, except those hereinafter ex cepted, wheiicver'caiied upon by the Gov ernor, shall be apfhOrrzcd to subscribe to the stock hereby cftafed,.and on paying in to the State Treasury, the amount of their, respective subscriptions, in notes to be fay ‘ 'tlveuprespectively issued of the denomina lions of one, two and five dollars, one fourth of.which only shall be of the denomination of five dollars,' to be signed' by an officer or | officers, or clerk or clerks of the.bank to be designated by the board of directors, they shall receive a credit on the books of the Auditor General to an equal amount iiijou fuvmity to the provisions of tiie first section .. of this aciyand the notes aforesaid shall- be I of the respective Banks which issued tfieni, 1 to,the amount'of not less thail one hundred,] dollars, as hcreinafffr provided. . ■■ | Sec. 3. Whenever the , holder of said notes to an amount of one hundred dollars,' or upwards, .shall present the same jit the ( bank from which they were issued, he'shall : ' be entitled to demand.and receive an order ! oil the Auditor General entitling liim to ic-J ceive a certificate ofim equal amount of the I stock hereby' created,, for the redemption I thereof;,and it shall be the fluty of such Bank, forthwith, to cancel the sttid notes, when so redeemed,"and to mark the same cancelled, and the cashier of, such Bank, •shall fin ihwith farni.di, the., Audi tor General! with'thc notes so redeemed, conceited and marked, and it shall he the duty of the Au ditor General to destroy the same, and so to keep an account of -the said stuck, and the notes-thereon issued, and destroyed,' as, well as of the stocks deposited as hereinaf ■ ter provided, as may enable the said de partment, at any time, to give a detailed statement of the amount of such notes re maining in circulation, of each bank res pectively; ami if any Bank shall refuse to redceoi the same in such stock when de manded, upon the'same being proved to the satisfaction of the Governor, it shall be his duty on ten days notice tii the said bank to issue his proclamation, declaring the charier of such bank forfeited; and every director, president, cashier, or clerk. wlio Shall know ingly have issued, dr circulated, or consent ed to such issuing, or circulation of a great er amount of notes authorized by,.this act than the hank possesses of the stock created by -this act, shall bp deemed.guilty of a misi demeanor, and on conviclipirlTi any court of competent jurisdiction, be-subject to a fine of not less than .five bundl ed dollars, and not inure than two thousand dollars, at the discretion of the court, and be liable for the redemption of the notes.su issued in their individual capacities, and an action of debt may in such cases be brought against them, or.any of them, or their or any of .their ex ecutors or administrators in any court lmv-i ,ing co at patent jurisdiction, by any person or j persons holding the notes so issued, and may: he prosecuted to judgment and execution,' • tiny condition, covenant or agreement to the contrary notwithstanding. I Sec. 4. That after the issuing of’the said notes mid until the same shall be redeemed and funded in stuck ns aforesaid, the said baulks shall respectively be entitled to re cejve from the cumnitmwealtli interest at the rate of one per cent, per annum, payable half yearly-on'tlie amount of stock subscri bed by such banks on the buuks of the Au- 1 ditor General. . ' . Sec. s'. That iipon the redemption of any of the said notes by-the bankT which may have issued (he same, and the transfer of the stock’'as herein before provided, such bank shall assume the paynjentof tlie inter . est on the stock-so transferred,' at the rate -ot five per cent, per annum, as the same shall beempedue & payable. Anti upon such as sninptinp.and paymeiit-of the interest b’y.a "ny bank, siich-.batik.shall be released from the payiiieiit'''6f:the tax on dividends, osnow required by lawf and if the amount of inter est, which may at any time be paid on such stock by any bunk, shall exceed the amount of the tax on dividends to which such bank may be liable; in such case upon a cerlificate thereof,’from the president of such bank verified by his path or affirmation of the fact, being! furnislietl to the State Treasurer, it shair.be his. duty to repay such bank, the paid, jut of the proceeds of the re yanuehereafter specifically appropriated fpr 'that purpose.- And in case , die interest which ihay be so paid liy aiiy bank on such stock. shall at any tiine.be Jess An amount, thaii the fax' on : diyidemlsno which such bank may be liable; such bank shall pay in to the Treasury,‘all such excess of the Tax ,on.dividends,■beyond the amount of interest on The stock, which, such bank may. have - previously paid; Provided, That nothing in ; this act, coiitinned;*shalf be cunstnieil toex emptany.bank frbm the payihentofthe tax on-xliyidends previously to such notes being . redeemed and. funded; and. it shall be .the df the Auditor General. bnlssuing the certificates of stock. iri : redemption of . the UY gIEO. SANDERSON.] v J Whole No. 1398: notes so presented, to mark on each certifi cate so to be issued, the name of the bank for the redemption of whose, notes the same shad be issued. . ' ' Seo, 6. That on failure of said banks to pay such interest on demand, at the,lime fixed by law, it shall.be the duty of the State Treasurer, on .application to.him fop that to pay anil discharge the saine.aiul on such demand and failure being proven, it shall be the duty of the Governor, on ten days notice to said bank, the said interest remaining unpaidr to issue hisproclamation; declaring the charter of such bank forfeit ed. ■ Sec.; 7. No bank shall be allowed to sjih scribe for a 'larger amount of the loan au thorized by the first section of this act, nor shall any bank of this Commonwealth [ whe ther such bank is liable to the payment of a tax on their : dividend, or is exempt Irom ( such payment] issue a larger anumnt of rmtes authorized by any portion of this act, than as follows: All banks whose capital stock actually paid ihduesnut exceed three hundred thou sand dollars, twenty-five per cent, on .their capital thus actually paid in. Banks whose capital slock paid in exceeds, three hundred' thousand dollars and does, not exceed.seven hundred thousand dollars, I twenty-five per c.cnf. on their' capital thus j paid in. .•. . I Banks whose capital exceeds seven hun : died thousand doUars, anti dues not exceed 1 two millions five/hundred thousand-dollars, seventeen.and'a/half per cent, on their cap ■ ital thus paid in. j Banks whose capital exceeds two millions , j five hundred thousand dollars, eight per ' cent, on their capital.thus paid in. I'. Sec. S. -All-notes which' may be issued >tct, khttU'be-rdit ] ceivable for debts due this Commonwealth, [ and may be re-issued from the 'BieasSry and from the banks which originally issued them, and each hank which originally issued the [same; and each bank which originally issued ! any of the said notes shall receive.the same j in payment of debtstdue to it, and on depps | ite payable ln,like--.currency;_aiuL(lie j pective banks of this Commonwealth may | receive and issue'any of the notes created I by tliis net: Provided, That nothing in this, section shall aftect any special contracts fur the. payment of deposits. - Thatdn lieu bf the taxes impo sed by theactof the 11th June, 1840, on persons, trades, occupations.and professions, there shall be annually assessed and collec ted on such persons, trades, occupations and professions, a fax of one per centum on ev ery dollar of the value thereof above two hundred dollars. And in lieu of the taxes imposed by this act upim salaries and emol uments of office created or held under the laws of this commonwealth, there shall be .annually assessed and collected upon all salaries and emoluments of office, created or held by or under the constitution or laws' of this Commonwealth, and by Or under a ny incorporation, institution or company, incorporated by the said Commonwealth, where such salaries or emoluments exceed two hundred dollars, a tax of two per cent, on every dollar of the value thereof, above two hundred dollars; which said taxes shall he assessed, collected and accounted for in the manner and fur the purposes stated and | -provided in said actof the eleventh of June, one thousand eight hundred anil forty: Pro vided, That when the salary is paid to an*, officer of this Commonwealth, directly, by the State Treasurer, lie shall retain out of said salary the amount of the tax imposed ! by this act. | Sec. 10. That from and after the passage jof this act the several, provisions now in | force of the act of the fourth of March, one thousand eight hundred and twenty-four, entitled “a supplement to the act entitled an act laying a duty on the retailers of for eign merchandize” and the several provis ions of the act of the seventh of April, one thousand eight hundred and thirty, entitled ‘‘an act graduating the duties upon whole sale -dealers and retailers of merchandize, ■and prescribing the mode of issuing.licenses and collectingduties,”except so much there of; as may be hereby altered'or supplied, shall be anil the same are hereby extended and. applied to all persons engaged in the selling or vending of goods, wares, merchan dize, comm'odilie.s or effects, of whatsoever kind or nature, and all such sellers or ven ders shall be classed and required to .pay annually, fur the-use of the Commonwealth for-their respective:licenses as follows, viz:. Those.vvho are esteemed and are taken to make and effect annual saleS'to'the amount of $300,000, and upwards, shall constitute the first class and pay $200; - : Those to the amount of $200,000, and less than $300,000, the second class, and pay $150; ~ " Those to the amount g'f $lOO,OOO, and dess than $200,000, the third class and pay $100; . . ; Those to the amount of $85,000, and (ess than $lOO,OOO, the fourth class, and pay $80; ‘ Those to the amount of s"s,ooo,and less than .$85,000, the fifth class, and pay $.60; ■ Those'to the amount of $60,000, and less than $"5,000, the sixth-cla’ss, and pay, $5O; ■JJl'hose to the; amount of $50,000, and less than's6o,ooo, the seventh class, and .pay $4O; - r ■_ . , Those to the amount of $40;000, and less than $50,000, the eighth class, amL. pay $3O; "V; , Those'to the amount.of $30,000, nnd less than $40,000, the ninth clnss, and. pay ,$25; . ' Those to the amount 0r520,000, and less than $30,000, the tenth class, and 'pay $2O; ... Tliosg. to the amount of $15,000; and less than $20,000, the eleyenthjclass, and pay $1:6; * './V';.:,,-f. ; . 'Those,tg.the.amount of sib,ooo, and less than $15,000, the twelfth class,' and pay $l2 50; : =Thoso to the amount of $5,000, and hss " V' Carlisle, Pa. Thursday Jflay 13, 1841. than $lO,OOO, the thirteenth class, and pay $10; i ■ " And those to an amount less than $5,000; the fourteenth class, and pay $7; Provided, That wheie such wholesale or retail dealers confine their purchases and sales to buying and .vending goods, wares and merchandize, the growth, product and manufacture-of- lhe-United -States, ho-or they shall pay only one half the amount of the license required by the provisions of this section. / —AmJ every seller or vender of wines, or distilled' liquors, either with or without oth er goods, wares, merchandize, commodities, or effects as aforesaid, shall pay fur, his li cense fifty per cent, in addition to the rates above specified fur the respective classes, and every license hereafter .granted, shall specify whether the party obtaining the same, is or is not entitled to self or vend wines or distilled liquors; Provided , That no x person whose annual sales do not exceed two thou sand dollars, and no fcme sole tracler or.sin gle woman, whose annual sales do not ex ceed two thousand five, hundred dollars, venders of wines or distilled liquorsexcept ed, nor any importer of foreign goods,wares,- or'merchandize, who may vend or dispose of the same in the originaf packages as'im ‘ported, nor any rpersun who may vend or dispose of articles of his own- growth, pro duce.or manufacture, 'shall be required to take out any license undevthis act. Sue. 11. That.it may be lawful for any bank of this Commonwealth, except the bank of the United, States,.to transfer upon the books of tlie Auditor General, in' tlie name of that officer in his official capacity, por tions of the fundeddebt of this state, .and deposite with him the certificates, thereof, ■ which stuck shut)-remain so transferred as which may be issue , d.mtt*tmwi^S& ? toy -ntie. following section. ' " Sec. 13. That it shall be lawful fur any bank which may so transfer portions of the funded debt of this state on the books of,the Auditor General, as provided in the prece ding section,:to issue notes of a denomina tion not less’than live dollars, to He signed iis directed'by“ (Tie second-section of this act, to an amount equal to the stuck'which may have been so transferred, which notes shall he redeemable when presented at the cuun tvrsTif the banks whichissued.them, iqsums of one hundred dollars and upwards, in-the. same manner as is provided by the third section of this act, and the said notes shall he receivable fur debts and on deposit at the bank which issued them, as is 'heretofore provided for the notes issued under (he sec ond section of this act: Provided, That no i bank exempted from a tax upon its divi dends, shall be authorized to issue a greater amount of the notes'authorized by this sec tion than is limited and directed by the sev enth section of this act, nml no bank subject to tax upon its dividends, shall be authori zed to issue a greater.amount of notes au thorised by this section than 7 per cent, on its capital stock actually pitid in.and'all the provisions and penalties in the.third section in reference to the over issue of the notes authorized by that section shall be in force, in reference to the over issue of the notes authorized by this section. Sec. 13. Tlmf whenever such stock shall be transferred to the Auditor General by any bank, us provided for in the eleventh section of this act, the interest payable on said stuck shall be suspended during the time said stock remains in the bands o(- the Auditor Gepcral, any thing on face of said certificate to the contrary notwithstanding. SecM4.' That the amount of the loan of three millions one hundred thousand dollars, authorized by the first section of this act. when received, shall be specifically appro priated as follows: To common school purposes, the sum of three hundred and thirty' thousand dollars; Provided however, that any excess over said sum arisini; from revenues hitherto applica ble to said object, shall lie paid into the State Treasury for other purposes. To colleges, academies and female semi nari6s;'fhe sum of fortyi-five thousand dol lar - i..... ; ,' ' To pensions'and gratuities sixty thousand dollars. Tu repairs of rail mails and canals for the current year, lour hundred thousand,dollars; $B5OO of which shall be applied 'to the re pairing of the dam across the West Branch at Lewisburg and the cross-cut canal at that place: Provided, That the Height of said dain shall not be increased. , . To pay debts due for repairs made pre vious to Ist of November one thousand eight hundred and forty, the sum of two hundred sixty-eight thousand, and three dollarsV I'd orphan asylum ami house of refuge, seven thousand dollars.,' . ; To asylum for blind, deaf and dumb,six teeh thousand four hundred dollars. ' To pay guarantee of interest to the hold ers of stock in the Bald Eagle and Spring Creek navigation company, ten thousand dollars. To pay the guarantee of interest to loan holders of the Danville and Pottsville rail road company, .fifteen thousand dollars. - To the Momingnhela navigation company; seventy thousand dollars, being the unpaid balanpe pf the lust .'.year’s .appropriation: • To State Library five hundred and twen-. ty-nine dollars and forty-two cents, to pay debts dutrat the commencement ofthe pres entyear. ,: T,o damage fund thirty thousand.dollars., iTo premiums: bn silk'and; cocoons, six thousand dollars. • To militia expenses, twenty thousand dol lars.,; ; ! ‘ ;T« .expenses of government, three, hun dredand-fifty thousand dollars. 1 ’. Tolpay lock keepers, collectors, weigh-, wasters and .other, persons, necessarily em ployed on the public works, sixty thousand dollars; • • • v._ - - , • Tu pay balance eftemporaryloan author •/.ril hy act of April fourteenth, one tlious- “our country—-rioux on wrong.” and eight hundred and thirty-eight, the sum of fifteen thousand dollars. - __To paycommtssionora and defray contingent ex penses-of Nicholson board of commissioners, fif teen hundred dollars, to -be repaid out of any mo neys received from tho Nicholson estate after April the sixteenth one thousand eight hundred and forty; and from and after the passage of this act, it shall be unlawful for tho commissioners: or any;.nf lliem, or_any of.lhe officers or cletlts of llio “Nicholson court of pleas,.” to be directly or indi rectly, interested in the sale; transfer, compromise or settlement of_ any part or portion of the estate of John Nicholson, or the estate of Peter Bnynton, or any of the bonds, contracts or agreements in re lation to said lands; mid neither ot said commis sioners shall receive any higher compensation than that provided in the ninth section of tho act of sixteenth of April A. D. one thousand eight hundred and. forty, arid if any of the other officers, clerks, commissioners, or other persons connected with tho aforesaid court, shall violate the provi sions of this section, they shall on conviction bo fined in a sum not exceeding one thousand dollars, and impri-oned for a period of not exceeding one year, at tho .discretion,oftlm proper court before whom said conviction may bo had, arid all thoedri traots made contrary to this act shall be null and void. Provided, That nothing herein-contained shall prevent the appointment of an heir or credi tor of said estate to tile office of commissioner. To pay debts due on contracts for work done until the first day of May, one thousand eight hun-. dred:and forty-one, on .the unfinished portion of the Slienango line of the Erie division of canal, two hundred and fifty thousand and eleven dollars and eiglity-lhreo cents. And upon the Conncaut line of said, division, two . hundred and stxty-orio thousand three hundred and eighty-six dollars.and five cents. ,■ To pay debts due on contracts for work done until the first day of May, one thousand eight hun dred and forty-one, on the unfinished portion of the North Brnnth extension, tho sum of five hundred and thirteen thousand and seven hundred and four teen dollars and ninty-two cents, of which tho sum of one hundred 'and twenty-seven thousand four hundred ’ dollars ami seventeen cents is the ”. , ■ r Jfo 'psy Idpno until thp first of April, ono thousand ‘ eight hun dred and forty-one,' on theWiscoriisco canal nine ty four thousand eight hundred and thirty-seven dollars and twenty-eight cents To pay debts due to contractors for grading the road to avoid the inclined plarte at Columbia, the sum of six thousand six hundred and sixty dollars. To pay debts duo until Ist May, one thousand eight hundred and forty-one, on contracts for work dorio on.the reservoir at Hollidaysbrirg and the re; setvoir near Johnstown, the sum of five thousand dollars. . > .Fur the payment of ropes used upon the portage rail road, purchased in pursuance of a contract da ted oth May otic thousand eight hundred and for ty-one, tlte sum of seventeen thousand, eight hun dred and fifty-four dollars. To pay the" superintendent and for keeping in repair of tho Public Grounds, six hundred dollars. To pay for repairs of the Delaware division of the Pennsylvania canal, sixty-thousand dollars. To pay. to the firm of Penpal, Lenhor and Hu mes, manufacurers ofloconiotiveengincs-atthc city of Lancaster, seven thousand five hundred dol lars, being the amount due to said firm for. a loco motive Cngino purchased by the canal commission ers, and in ttso on the Columbia and Philadelphia rail road; and the resolution passed on the twenty sixth day of March A. D. ono.thousand eight hun dred and forty-one, entitled a “Resolution for the relief of Pennal, Lenherand Humes, manufactur ers of locomotiveengines,” shall bo and is hereby repealed. For new works on finished lines, pay of canal commissioners, appraisers and engineers not con nected witli extensions, twenty-five thousand dol lars. The sum of ten thousand two hundred dollars shall be, and the same is hereby ap propriated for the completion of the geologi cal and miiiciudogical survey, to be applied as follows: two thousand dollars for the pay ment of one years salary to tlte state geolo gist, six thousand dollars to the 'payment of one years salary of six assistants, including the chemist, at the rate of one thousand each, and the remaining sum of two thousand two hundred dollars to be paid to, and applied by thejstiid geologist, to the payment of tlte incidental expenses of said survey, including the preparation of three.complete collections nr cabinets of geological and mineralugical specimens for tlte use of the state, and for the compiling and prepiujng for publication 7 the filial report.ra-relttiiop survey; together with the maps and drawingsto. ac company the same, which said sum shall be 'deemed and-taken as full -compensation thereof. ' The three collections or cabinets of geo logical and mmcrulbgical specimens ttfpre said,''shall be deposited, one at Philadelphia, one at Harrisburg, and one at Pittsburg, under the direction of the. Secretary of the Commonwealth, nr ,in.such manner as flic legislature-shall-hereaftef -provide,'- and- so much of any former act as requires the state' geologisf'to furnish specimens of, the geolo gy and mineralogy 'of each county in the state to the commissioners of said county; shall be and the same is hereby repealed. To pay debts due; and fur completing the re-laying of the north track of the' Columbia and'Philadelphia rail road, from the twenty second milestone to Whitehall, the: sum of -fi'fiy-tivo thousand one hundred and thirty, dollars. • dlnd it is further provided. That after the payment of the above 1 specific' appropria tions, the residue of said' loan shall be ap-' plied to the fund for the payment of interest on the publioHlebt. Provided, That the sum appropriate'dto the payment of damages by this section, shall be paid as; speedily as possible in the order as to tinie in which the said claims fur damages have been awarded, assessed,.and confirmed,.and the canal com-, missioners are. hereby expressly prohibited, frotp entering into any new contract; for oily work upon the’ unfinished lines ofthe public improvements, .whether for abandoned sec-'i tions or* otherwise, during the. ensuing year,- oyuntilnhis prohibition is repealed by,act of assethbly. ' ■ That hereafter the whole amount ofmoney to be paid .to tlte corps of engineers:on the' whole-of the stateimpiovements.-shallnot exceed-the sum 'of; twenty, thousand.; dollars annually, and that hereafter, there shall .be employed but one superintendent bn the' Et te. aud one on tlte North Branch exten- sions.- ..•v■'■- Sic. 15. That where moneys have.been or shall be specifically appropriated to the [AT TWO DOLLARS PER ANNUM. New Series--Vol. 6, No. £B. 1 Internal Improvement fond or any other ob ject fay an act of Assembly, the same shall not be applietl by any .officer tif this Com* ’ monwealth, to any other purpose or object r than that to which they liave been so spe -1 cificaily appropriated; and if any officer as i aforesaid shall knowingly offend against any r °f t'le provisions of this section, it shaU.be > deemed a misdenjcant)r iil office, and auch officer so offending shall on conviction in ■ nny coart of competent jurisdiction, be sub ject to a fine of not less than five hundred 1 dollars, and not more than two thousand . dollars at the discretion of the court, i Sec. 16. That the notes authorized to be ; lss ued by this act may have an uniformity in ■ phraseology, the Governor is liercby autiior izen and required to prescribe the form in which the satiib shall be issued. Sec. 17. That to enable the banks, of this Com monwealth to comply with the provisions of this actand to relievo the community, it is further en acted, that no banking institution in this state shall be subject by way of penalty or olherwjao_to_gny_ greater rate of interest than 6 per cent per annum, any thing in any act of Assembly to the contrary notwithstanding; and the resolutions, entitled, resolutions providing for tho resumption of specie payments by the banks, arid for other purposes,” passed’third of. April, one thousand eight hundred and forty, be and the same are hereby repealed, and that all provisions of any other act of assembly heretofore passed, or of any.actof incorporation providing for the forfeiture’ Of any charter, other than that of the bank of tho United States for or by reason of the npn-payment of any of its liabili ties on demand, be and the same are hereby sus pended until further legislative action, and until tho Legislature shall provide for the repayment of the loan authorized by the first section of this act; and so much of any act of assembly as prohibits the hanks of this commonwealth from making loaris'and discounts, issuing their own notes, or declaring dividends diffilhg the suspension of spe j cie payments, bo and.the. same is hereby suspend- I ed as But no bank daring silch suspen-, nsiorielfilVtlcclard dtvide'ndstoijri amauritexri.eedi.hjr ‘ five' per centum per’anrium: Fro’mJeil, that bpforp the Bank of the United States shall be entitled to the, benefits of this section, the stockholders of said bank, 'shall, by a resolution-adopted at any regular or adjourned meeting heldtin pursuance of the ohartor of said bank, duly made and certified to the Governor under their corporate seal, consent to be subject to any genera), laws, to bo hereafter I passed, for the regulation of the banks of this i commonwealth. Sue. 18. That If the stockholders of the • bank of the United States, at an adjourned general meeting to be held at their banking , house, dii the fourth day of May, one thou sand eight hundred and forty ohCj or on any othijr day to which the said meeting shall be adjourned, or at any other general meeting I held in pursuance of their charter, shall’de cide by a majority of the votes then and there present or represented ac’co,rdihg to the scale of votes allowed at elections of di . rectors, that it is expedient for- the bank of the United States to make a general assign ment of the real and pcrSoiialcstate, goods, chattels, rights and credits, whatsoever, and wheresoever, of the said corporation to trus tees for the payment or securing the pay ment of the debts of the same, and shall, moreover, by a like vote elect five "or moje persons as trustees, for that purpose, then and in such case it shall be the duty of the directors of the said bank in the corporate name and under the corporate seal of the president, directors and company of the bank of the United States, forlhwith'to make and execute such an Assignment, and td do all such acts as shall be necessary to give full possession of the. assigned estate and the trustees so selected upon the trusts of the said assignment: Provided, however, that the said stockholders may, at the general meeting at which such assign ment may be authorized, require an inven tory of the property assigned, and if they deem it expedient td do so, security in such sums as they may deem it expedient, from the trustees aforesaid, for the faithful per formance df their duty. I' Sec. 19. That_fhe -said assignment so : made, as aforesaid, shirt! be deeined aml,ta ken to vcstrtmmediately in the said trustees and their successors, all,the estate, real and personal, goods, chattels, rights; and credits whatsoever, and wheresoever in like manner, arid to the same extent as they were previ ously vested in the said corporation, but upoii the trusts of the said.assignment; arid that so much of any law or laws of this com monwealth, as requires security from trus tees or assignees, Or an inventory or ap praisement of the property assigned or con veyed it» trust,' be and the |ame is hereby dispensed with, in tlie casS of any align ment or deed of trust, or other conveyance which niay be made by the president, direc tors end-company ofLthelbank,of.the_United States, for securing the payment of any por tion of its liabilities. Sec. 20. It shall be lawful for the said stockholders at such.meeting, and by such vole as aforesaid,.to give.tu the said trustees, such powers over the assigned estate, and effects as they may deem expedient, not in-‘ consistent w.ith the said trust for the pay ment or securing the payment of'the debts .of the corporation in manner aforesaid;. and also, to impose'such regulations upon them in regard to the manner of executing, the 1 said trusts, keeping.and rendering accounts i of the shmd, and making dividends,among! the creditors, and.in regard to the responai-1 bilitics of the said trustees, and their cum- j pensation or allowance, and. also in regard j -to the expenses of the trust as they may | deem right,, .allj-whicli powers,, regulations and provisions, shajl be introduced into the said arrangement. , Provided , That the said any dfuatees or assigns appoint ed, for the, or sqouritig-the payment of ulf orany pbi'lion of the debts of the said' shall receive in payment of debts due fa tlte.’jaid bank, of to them at par, the notes .brother, evidences of debt issued or.creuted by said bank. / J; : Sec. 21. That the trustees/ so elected, shall hold their appointment ■until the,first Monday in January pettt, pud “>'*•! -pthdr trustees shall be .elected in their place, and. it shall be lawfuf for the said stockholdors . on the ’said day. by a Uke vote; to choose AGENT-S, I.ohh Moore, Esq. New'vill Joseph M. Means, Esq.ilopqwelltownsUip Johm Wunderlich, EsffySnippensburg. William M. MATF.EH. Esn. Lee’s !*j KoiuUi John Mehaffy, Dickinson township. Jouk Clesdenim, Jr. Esq.,’Hdgestowiu George F. Cain, Esq. MecUanicsburg ' 1 Frederick Wpnuerlich, do. James Elliott, Esq. Springfield. DANIEb KuYSHER.'Esq, Cburchtown. ‘ Jacob Longnecker, Esq. WonnleVsburg. , George Ernest, Cedar Spring, Allen tp. Mahtis G. Hupp, Esq. Sbiremansiown. the same or other persons to act as trustees aforesaid, for another year, and until others 'shall be chosen in their plaee and'Bo on froiu year to.ycar, so long as the said trust shall continue, and until it be, completely execu ted, the said stockholders on the first Alon-' day hi January hi each year, shall be au thorized hi manner aforesaid, to choose now trustces in tlie place of any'or 'all- tlie exist ing trustees, and if shall be the duty of the trustees whore place shall be supplied in the trust together with any trustee continuing in the same'to execute sucli instrument, aSshall vest the trust estule and effects in all the trustees who are to act with trust for tho en suing year, _ ' Sec. 22. That I’m corporate powers of tlic said corporation shall after the said assign ment shall be made and executed ns afore said, cease and determine except so far as the same may he necessary for the following purposes that is to say, ~ First: For the purpose of suing, and.beihg suedi“ahd'fuf con turning all suits arid pro ceedings at law of in equity, now pending for or against said corporation.' . Second; Fur the purpose of making suck assurances, conveyances, anti transfers, and doing all such acts, matters, and things ns .may be necessary or expedient to make the said assignment of the trust thereof effectual. Third; For the purpose of citing the said trustees to account and compelling them to execute the said trusts. * - Fourth; For the chuysing of directors fur the purpose of receiving and distributing among the stockholders of the.said hank, such surplus as shall'remaln after discharg ing the debts of the said corporation; Sec. 23. That the courts of this common wealth. shall have jurisdiction of the Said trust and of the affairs,thereof,in like.mau genef aViawuffe anil if 'shall more-" oyer be lawful Tor the legislature, "and the power is .hereby expressly, reserved at any time or times with the consent of the said stockholders, at a general meeting fur that , purpose convened accordingto the charter to change.and alter the provisions of this act, in such -manner as- to the legislature may seem expedient. „ Spc. 24. Tliat from.nnd after such gen eral assignmenfit shall not be lawful for- tlio' said corporation to exercise the banking privileges of loaningmoney and issuing notes or bills, but it shall be confined to theexer cise of .its other ,corporate powtrs and'priv ileges for. the purpose of the fiiml'settlement of its affairs,- and fur the sale and disposition of its estate real personal and mixed. . Sec. 25. No proxies to vote at any elec tion of directors of this bank, or atany meet ing of the stockholders thereof,shall be valid, unless dated and executed within sixty days before the day of such election or meeting. Sec. 26. Should any of the banks of this state, which pay a, tax'upon their dividends., refuse to comply with the requisitions of this act in taking their due proportion of (ho stock by the first section authorized in suck case, all said banks so refusing shall remain s'ubjecfto the provisions of the seventeenth section of this act. And the omission or re fusal of any such bank as aforesaid shall not affect the rights or privileges hereby confer red on the banks complying with the same, but the amount of said loan not taken may be distributed amongst the other banks of the commonwealth, according to the propor tions designated in the seventh!section of this act. , I , - Sec. 2". Should any 'df (he banks of the comnfunwealth, authonz&l- by; ■the twelfth section of Ibis act to issue notes,on adepos jtc of state stock, Tail or refuse to depositc at least five per cent, on their capital, actu ally paid in, then and in such case the bank so-failing or refusing shall remain subjecHo the provisions of the existing laws, and are hereby, excepted from the benefits of the provisions utjhe seventeenth, section of this act. ; Sec. 28. The several banks desirous to avail themselves of the provisions of this act, shall notify the governor in writing of their willingness to accept and comply vyith the same, within forty days after the passage of this act. . Sec. 29. That the secretary of the com monwealth shall, as soon as may, be after the passage of this act, notify ■ the several’ bunks of this state of the same. published in the Ne\4 York papers, staling that Mitchell,. ;the eX-member of Congress, who committed sun dry forgeries recently, is now at Montreal, under the name of Goodwin, and.thnthepassed his time: in gambling and in houses of ill-fame. Ho spends his, money, very freely; he was arrested, but the process was not sufficient to detain hint.— lb. , Steamboat Explosion at New Ydnrc A low boat, called the Henry Eckford, while 'lyingattGe foot of Cedar street. New York, on Tuesdoy af ternoon, blew,up, killing one man and severely injuring several others.-—The name of tlid un fortunate victim was Amos Belcher,- of Panermo, Orange county,' N v Y. -Capl. Tice, of the steam-, boat, was blown some distance into the riyor and 1 had one leg broken. The Henry Eckford was an old boat, with her boilers nearly burnt out, and the owners are lashed with some severity in the New York papers!— Ba/timure Sun i- France,—-The military and : nayal . force .of Franco amount t0'493,071 men and 112,774 horses, for the Army—and. for tho Navy to 225 armed vessels, via: 30 ships-of 22 frigates, 4S corvettes, brigs, &of, phd i 35 steamers, -manned by 46,518 seamen; 451 infantry, ;to defend the ports, arsenals and colonies. ' ' . A Motjieh’s Love.— There ja so. divine a ho- r liness in the love of;a, mother, that, ho matter Kdvv the tie that binds her to the bhild'was'form-, ■ od,she; aa'fit were consecrated'.and-ipa cred; ' and. the past is forgotten, and the world ahd its Karsh verdictsswcptawaywHehtlmtlovo-' alone ia visible; end- the God wbo watchea over f .the .little; one sheds his ismilesiovcf the humah - deputy.-in ,whesertchderrig» 7 \
Significant historical Pennsylvania newspapers