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-'-SAXTTE-L WRIGHT, Editor•and Proprietor;
VOEUME NUMJ3ER 38.]
lUSBLIIIED 'EVERY SATURDAY MORSTNG •
Office in Carpet Hill, .11 1 '0ra-west corner of
4 Piont and'Eocust streets:
Ar:
eiiits of inscription.
74 - 4, Copy pe runoum , i f paid, n advance.
',` •"• if act paid within three
••monthsfrom eommencementefthe year. 200
C7ext.ties a Glop3r.
nioadbecriplion received for u lest time Oita .ix
'Months, and no paper will be dkcOntinued unlit ull
wrrearagetnre paid,uteleacat the optionOf the pub
is-her.
mrlloney nay e - e milted b ymnill a ithepablish
-irls risk.
Rates of Advertising,
square[6lincs]one week.
•. ih fee weeks.
each ahsequcnansertion. JO
(12 Ines]one week 50
three weeks, L 00
". • o. .idli.gub.equentinqertlon.
Largerltivetilstnitiths proportion
A liberal liseounl will he made to quoricrly,half
early or.rearlyL.lvCttisers.who are strictl)confined
*their hu.inrw.
~. DR. HOFFER,
JIENTIST,OPPICE, Front Street 4th door
Irom Loaner.' over snylor McDonald's Book store
Columbia, Pa. ElZe"Etitrunce, between the Book and
Dr. Herr's Drug Store. [August :21, 1858
TIIOIIII4B NVELSti,
lISTICE OF TIIE PEACE, Columbia, Pa,
OFFICE, in Whipper's New Building, below
Black's Hotel, Front street.
F, Prompt attention given to all business entrusted
-November :28, 1857. •
J. W. FISHER,
Attorney and Counsellor at Law,
Gickletzamilloadsi,„
t3epicrnber U, 1660.'1
S. Atlee Bockius, D. D. S.
PRACTICES the Operative, :Surgical and Meehan.
ical Departments orDentistry:
Orrice Lociist street, lietorecia he Franklin House
and Post Office. Columbia, Pa
.Nlay 7 1859 . -
T OMATOPICII.---liiract of Tomatoes; a
1011IC. For -Rio sit
J > UFA, I.Krr
GoWen .I now' Drill; -.tore.
IMEM
51 PORTED Luiner., filenro- Rouble I :x tn.":
for I h.• h:oid kern tel at
tnRY f;KEr:IV:z
I tppn•tir Itr.dge. Frnui Ht
Fell ig ,117.
441100118.-400 Doz. Droop's, at Wholesale
ol ft. I,oli
EM=S9
LINE'S Compound of Syrup of Tar, Wild
Ctst rr) ruin tit 'hound. tor the cure 1,1 Cough-.
Cetinkt Whnottme otelt • • sttitt •&C. For cob,. ;It
‘iot " 1".5.
Polorty Mectiettre Store, Odd Fellows' Ilan
()Molter 2.3,
Patent. Steam Wash Boilers.
rplih:Sli aerli kliovett Hotter,. tire kept con , tti nay on
41.. ut II EIVItY l'
Lnetto reel. oppn.ite the Vranklin llouse•
Colutninn. Jnl 1.4.1.57
( lots for sale, by the bushel or larger plan
k _Pity B. F. A 19•01.0.
Cohan'. in Dec 25. 1.95.9
TOBACCO and Segars of the best brands.
I wholesale and retail!. Lit
Jr• t!) BRUN: RR'S. •
ausT in store. n (rent lot of Breinig at I ronfieles
celearated Vegeta`tle Cattle Powder. nod for .tale by
R_ WILUAMS.
Front street. Colombia.
Sept. 17, 1959
Soap.
r finkra of finitey Maw,. :loop orr bond and for
%ale low a I Ike Corlier at Third and Union Shi•
A ug um 6,1859
Suffer no longer with Corns.
A ' Mi. It olden Mortar, Drug .tore 4 yent ran procure
flu urticie which Is warranted to remove Corns in
4-1 hours, without pBill of
'Fly Paper.
A SUPERIOR article ally Paper. for the destrue
rl Ilea on Flies, &c.. has just been received at the
Drug :Store of
R WILLIAMS, Front I , treeL
Columbia July 30.184
arrison' s Coltunbian Ink
is n ioncrior article, permanently black..
Yr and not corroding the pen, ern he bad in am
quantity. at the ramify Itlediehie Store, and blacker
el t• that English Boot Polle".
Columhist. JIM" 9. 14'i9
On Hand.
11{
will
rB: Zr SIVSSi"S O rup T e gr. /u tnie t eTr t tteet by
Te
clueing intintnsttion. ntlstyinu pain. rpm -motile action,
&c., in very t.ltort time. For cub. hv
TL \VTLLTA Nin,
5ept.17.1658. Front wren, Columbia.
REDDING & CO'S Russia Salventhicif:
tremcly popular remedy for the cure of external
:ailments an now for -tile by
R. ‘VILLIA NIS. Front at., Columbia.
nem. 24.1859.
(ALT bribe Sock or Bushel,' and Potatoes
'it large or lllii quantities, tor sole to the Corner
'of Tim d and Union sureets. pall. 8 5 50
Tl, RANGI PA NN I Extracts-and Soap; On everlasting
A. perfume. at . HARRY CR RF:N'S.
Pah. r 9. 'SO. Opposite Cola. It ridge. Front St.
CISTERN PUMPS.
.VIIHE subscriber Iw• n bran. stork of Cistern Pomp•
1 and Rams. to whieh he molls the anent ion of the
public. Hen prepared to pm thorn up for use in to
substantial and enduring moonier.
11. PFAIII.ER.
IDeeember 12.1957 Locum street
ryyawN-►Tnliggmy . m
Lifitin avvoriment of Fancy Toilet •Vlclaps, ever
J. offered to Coientiotexv.va
. .
HARRY 0RV1...
Feb 19. VW.' Opposite Cola. Bridge. From St
C owiiNs ATIql by the pint. quart or gallon
Extracts•tor the handkerchief by the
ounce or pound. or in any quantity to suit purchtisce.
- • . HARRY CiIiKRIVo.
Oppo.ite Colo. Bridge, Front St.
=
Just 'Rieeeired and For Sale,
2
00 Bbls. Ground flamer; 30 lib's. Beira Family
Flour; 251.1.15. No. L Lard Oil Of best quality;
.11/0 bus. Ground Slam Salt, by
U.V. A PPM"
No 1 and 2 Canal Basin.
March 26, ,5,6
'TIMMS .Celebrated -Black and Green Teas,
ty Be tir r!P COCO& Vila Übereolatc, al Corner of Tatra
and Union streets. • [Nov.
aBAB&M, Grand's Boston Crackers, for
DyspeptiesoiMl Arrow Root Cracker., for in
...vends and ehlldien—new articles in Columbia, at
c the Family Medicine Store, 5
April 10. Inaft •
mNEW.CROP SEEDLESS 'RAISINS.
%Tim best foe Pies, Pudding, Sm.—a .fresh snriplystt
11 SUYDAM'S
- Gtotell :Piero,' Corner Froinund Union ins
. Nov. 19. 1859.
Seedless Raisins!
TAT of very choice re.•dle-s Rvivinikjavt receive
set , S. F. FIIIERLEIN'S •
N0v.19, 19. Gtoccry Store. No. 71. Locust et.
SHAKER CORN.
U
received. amt rote lot of Shaker Corn
SUYDAM'S
- Grocery Store, corner Front and Uznoni.t.
Nov. 26.1559
QPALDING'S PREPRED_GLIJIL—The wont of
.11W/ inner:Ante is fell in every family. and now
it salt he supplied; for mending Ihiniture, china
vvere.o.aurneinsii Work, inyt Ire, there is nothing
tVe have found it u-aful in repairing many
nriipiet which have been useless for month... You
can obtain it at the
Jan SM. FAMILY An-o)l . mm STORE.
BitiWN'S BRYIYCUId6 TROCIIES.--We have
Amen Y linE dm above Cough torrebeeo at dte
*amity blertn ine store all •inter. and they have
amen gen..BlBl -an-faction to all that have a-ed them.
The Key 'Henry Ward Reecher nay-, no far a.. be ha..
had an opportunity of comport-on. Broorn'a Troche•
are premnuaehtly the hrat of the great Lozenge
. dermal. Palt.23.
General Bulking Law
The General Banking 8.11, having re
ceived the signature of the Governor, is
now a law of the State. The bill is very
lengthy, but the following abstract gives all
its important provisions:
SECTION 1. Be it enacted by the Senate and
House of Representatives of the Common
wealth of Pennsylvania in Ceneral Assembly
met, and it is hereby_ enacted by the authori
ty of the same, That any number of persons,
not less than tve, partnership, or associa
tion, in pursuance of this act, may establish
hunks of disc mot, deposit and circulation.
subject to the terms, conditions, continger.-
cies, restrictions and liabilities herein-after
prescribed ; but the capital of no bank es
tablished under the provisions of this act
shall exceed one million of dollars, or be
less than fifty thousand dollars.
$ 50
EIFA
SEd. 2. That whenev,,r any such partner
ship or association of citizens desire to estab
lish a bank, or increase its capital, they shall
make's certigerste, to be hereinafter describ
ed,
.under their hands and seals, and
shall cause a notice of the same to be ad
vertised fur at least six months in at least
three newspapers, one published at the seat
of Go•-orpment of the State, and the others
in the city or County where such bank is to
be located, one of Which shall be in the Ger
man language, if such newspaper is pub
lished, which certificate, after due 'mice of
the same shall be published as aforesaid.,
slmll 6c .ulenitt , - , l to awl escialned he - he
A:•.• ruey Gehelc; of the Umailt.amealti,
and by bun eel tided to ue rope, ly drawl,
anksigned, and that the notice to the same
has I een duly and correctly advertised ac
cording to law, and that the certificate and
the published notice is in conformity with
the Constitution and the 'awl of this Com
monwealth, for which service the Attorney
General shall be entitled to a fee of five
dollars.
1121211 EM
1. The 'pines of such persons, partner.hip
ur association, and the wines and residences
of each member of partnership of as-
social i..n
2. The place of business, designating the
city, town, or village, and the county where
the contemplated bank is to be located. and
which location shall not be chauged without
the consent of the Auditor General after six
months' public notice.
3. The amouut of capital stock of such an
association, the number of shares into
which the same shall be divided, together
with any contemplated increase of capital
stock..•
MIME!
4. 'The names and places of residence of
the shareholde'rs, and die number of shares
held by each of them respectively. .
Sec. 3 provides for a proper method of
recording the certificate hero referred to.
Sr.c. 4. provide! for the continuance of
the operations of the tank for twenty years . ;
empowers it
, to transact the general busi
ness of banking, the collection of its debts,
SEC. 5. That it shall be the duty of the
Auditor General to report annually to the
Legislature, within "three days from the
commencement of the session, a summary of
the statoand condition of every incorporated
bank or banking
_institution, and every
priviite bank from which reports have been
received for the prececding year, at the
sevpral dates to which such reports refer;
&c., &c.
. SEC. 6. That any increase of capital alter
ation or addition shall be advertised, as pro
vided for in the 2d section of this act, for
sir. months, and then be submitted to the
stookholders at a general meeting called for
that purpose, and by them approved ; and
further, any such increase of capital, altera
tion or addition shall also be approved by
the Auditor General; and if approved by
the same, shall be attested and recorded, and
published as is provided in - the original for
mation of said bank.
Sec. 7. That the Auditor General of this
Commonvrealth a siMlr cause to b; engraved
and printed in the best manner, to guard
against counterfeiting, such quantity of cir
culating notes in blank of different denom
inations, not leas than five dollars, each of
which is authorized to be issued by the
banks of this CommoUvrealth incorporated
under this act, as he may deem necessary,
from time to time, to carry into effect the
provisions of this act ; said notes shall be
countersigned by the Auditor General or by
a clerk appointed by him for that purpose,
numbered and registered in his office in
manner as directed by him in a book kept
for the pufvose, and kll mums issued by him
shall tje uniforM, and they shall have stamp
ed on them, secured by the deposit of public
stock.
SEC. 8. That the plates, dies, and mate
riali to be procured by the Auditor General,
for the printing and making of such bills or
notes for circulation, shall remain in his
custody and under his direction, and the ex
penses necessarily incurred in executing the
provisions dais act shall be audited by the
Auditor General,and paid out of the treasu
ryon big writtenorder, and for the purpose
of reimbursing the same the Auditor Gener
al is hereby authorized and required to
charge against and receive from each bank
or banking association applying for such
notes far circulation, such rate , per cantum
thereon as will repay the expenses neces
sarily incurred, as before directed.
Sac. 9. provides that the Auditor General,
gtintiDito.
"NO ENTERTAINMENT IS SO CHEAP AS READING, NOR ANY PLEASURE SO LASTING."
COLUMBIA, PENNSYLVANIA, SAZURDAY MOR.NING, APRIL 21, 1860.
with the approval of the Governor, shall de
vise a seal with a suitable inscription. for
this branch of his duties, &c.
SEC. 10. That banks established under
this act upon legally assigning to and de
positing with the ArttlitorG emend the bonds
or evidences of debt of the Commonwealth'
or of the United-States, shell bd ectitled to
receive an amount of such circulating notes
in blank,-of the denominations such as they
may require, numbered f registered, counter
signed and stumped as is herein provided
fur, the bonds and stocks to be taken at
five per cent. less than their market value:
Prorided, That tae same is not above par.
SEC. 11. provides that the Auditor 'Gen
eral may, at his discretion, exchange such
hoods or evidences of debt, or any of them,
on receiving other approved bonds or evi
dences of debt of this Commonwealth, or of
the United States, of equalartiotint i &c.
SEC. 12. provides that the bank or bank.
ing association transferring bond.. or evi
dences of debt to the Auditor General, may
receive the interest that accrues thereon, unless
default shall be made in pitying the bills
or notes to be countersigned as aforesaid or
unless the bonds or evidenees of debt
pledged shall become insufficient security
for the payment such hills or mites. And
it further provides for a semi-annual valua
tion of said public stocks, that if they de
cline so low in market value as to be unable
to secure noteholAers, the banks may be
compelled to give further security.
SEC. 13. That the affairs of every bank,
shall be managed by not less than live nut.
more than eleven directors, and they shall
e'es.se niic I their number :Ls president of
the kink. Ei.strt lirector shall e a citizen
of this Commonwealth : each •lirector shall
own, in his own name and rigid, at least one
per cent. of the capital stock of the batik. up
to two hundred thousand dollars : each di
rector shall take an oath that he will, so far
as the ditty devolves on him, diligently and
htniestly administer the aff.drs of the batik,
and not knowingly violate, or willingly per
mit to be violatel, any of the provisions •.f
this act, and that he is the bona fide owner,
in his own right, of the s..vek standing its
his name on the books or the h.i.mtc. and that
the dame is not hypothecated. or in any wn.i,
pledged its security fir any Ma:. ,btiiiited or
debt owing, which oath subscribed by him
self, and certified by the officer before iv hero
it was taken, shall be filed and carefully
preserved in the o ffi ce of the remit der ol
deeds in the county in which the bank is
luuatcrl; but nn parson shall be president:
cashier, tir director, or either, of in.ire than
one bank nt the saute time.
SEC 14. That rho directors of any bank
first elected shall hold their places until the
first Monday in November next thereafter,
and until the r successors shall be elected
and qualified. All subsequent elections
shall be held annually, upon the first Mon
day in November, and the directors so elec
ted shall bold their places for one year, and
untill their successors are elected and quali
fied; but any director removing from the
State, or ceasing to be the owner of the re
quisite amount of stock, shall thereby vacate
his place. Any vacancy in the board shall
be filled by appointment by the remaining
directors. The director so appointed shall
hold his place until the next annual election;
and if, from any cause, an election of the
directors should not be made at the time ap
pointed, the bank shall not fur that cause be
dissolved, but an election may be held on
any subsequent day, thirty days' notice
thereof having been given in a newspaper
* printed in the county where the bank is 10.
cuted.
Scc. 15. That in all elections for direc
tors, and in deciding all questions at meet
ings of the stockholders, each share shall
entitle the holder thereof to one vote. Stock
holders may vote by proxy, duly authorized
in writing, if dared within thirty dais; but
no officer, clerk, teller, or bookdteeper of the
bank, shall act as proxy, and no stockhold
or, whose liability to the bank is past doe
and unpaid, shall be allowed to vote.
Sec. 16. That no bank shall be permitted
to commence to carry on the business of
I banking under this act unless at least tiree
ty per centung or the capital stock of such
bankehall be paid in gold and silver coin or
bullion, and shall be in the actual posses
sion and bona fide the property of the bank
at the time of its commencement of its bank
ing and at the place designated for
carrying on such business.
Sac. 17. That the-capitol stock of each
bank shall be divided into shares of fifty
dollars each, and shall be assignable on the
hooks of the bank in such a manner as the
by-laws shall prescribe; but no shareholder
shall have power to sell or transfer any
shares held in his own right, so long as he
shall be liable either as principal debtor,
surety or otherwise, to the bank for any debt,
without the consent of a Majority nf-the di
rectors; nor shall 'such shareholder, when
liable to the bask for any debt - that is over
due and' unpaid, be entitled to receive asy
dividend; interest, or profit on such shares
as long as such liabilities shall continue;
but all such dividends. interests, or profits
shall be retained by the bank and applied to
the discharge of such liabilities.
Sec. 18. That if any shareholder, or his
assignees, shall fail to pay any instalment
on hit stock, when the sante shall be re
quired to bo paid, the bank may sell such
stock at public auotion, having given three
weeks' previous notice thereof, in two news
papers, in the county where the bank is lo
cated, if two are published, and if two are
not published, then in one, to the highest
and best bidder for the seine, and the excess,
if any, after paying - the expenses of the sale,
shall be refunded to the delinquent stock
holder:
SEG. 10. That if arty book authorized by
the provisions of this act, shall refuse to pay
its notes of ciretilation or any of them, in
gold or silver coin of the lawful currency of
the United States, on which payment shall
be lawfully demanded at its banking-house
or customary place of doing banking busi
ness, during usual banking hours, the hold
ers of such protested notes may cause the
same to be protested for non-payinenf by a
notary public, under hie official seal, in the
usual manner, and the Aud tor General, on
receiving and filing in his office Such protest.
shall forthwith give notice in writing to the
maker of such noteor notes, to partite same,
and if they refuse to, paithe same with in
terest, costs, and protest, for (twenty) days
after such notice, the Auditor General shall
thereupon declare such ballet() have com
mitted an act of insolvency.
Scc. 20. That the Auditor General upon
receiving reliable information that any baak
has committed an act of insolvency, shall
forthss is h appoint a committee of three judi
dons and discreet citizens of this Common
wsalth shrill receive five dollarl per day
each, and their travelling :rid necessary ex
penses, all of which to be paid by said hank,
who shall make immediate inquiry into the
truth la such information and report there
on to the Auditor General of the Common
wealth. and if the said committee, or a ma
j,rity of them, shall report that such bank
has suspended pa} meat of its totes in gold
and silver, ho shit II foi 'mitt* appoint n suit
able receiver. who shall take immediate
possession of the hooks, records. money,
choses in act.l it and property at such bank,
of every description, including the securi•
ties deposited with the Auditor General, and
hold the some for the joint use of the credi
tors of the failing hank, the compensation
of such reveiversf.ball Ise live dollars per day
oath. and travelling and necessary expen
ses, to be paid by sai bank whose assets he
is appointed to take possession of.
SEC. 21. That the receiver appointed as
provided in this act shall be required to
give I) and in such sum, aunt with such sure
ties, as the Auditor General and Governor
shall deem sufficient, and under the .direc
tion of said Auditor General shall proceed
to scale up dm affairs of such bank, and
shall convert into in nay all its asset a, Of
every kind whatsoever, with the least pos
sible dela . Taom may so made shall be
applied
1. To pay all the liabilities on account of
the notes of circulation: to pay the same 00
demand, and set aside a sum sufficient to
meet all the said notes outstsoding.
2. Then to pay all the deposits of the
bank.
3. To the payment and ,discharge of all
the remaining liabilities of finch hank.
4. And the residue shall h divided
among the 4tockludders of the failing bank
in proportion to the stuck by them respec
tively held.
Sec. 22. That it shall be the duty of the
cashier of every bank to publish monthly in
one newspaper of said county, ccht.reiti the
same may be situate. if there be (two) pub
lished in said county, one of which shall be
in the German language, if such a one is
published in the county, the entire amount
of the assets of the bank as herein provided
for, and every class of items therein, under
separate heads, setting forth:the amount of
capital stock actually paid in, the enure
amount of indebtedness and liabilities of
said bank, the amount tf gold and silver in
the vaults of the bank at the time of mak
ing the exhibit, the amount of bills, bonds,
notes, and other evidences of debt, the value
of the real and personal property of the
bank.
Ste. 23. That the directors of each bank
shall, semi annually. on the first Monday-of
May and November, declare a dividend of
so much of the net profits of the bank as
they shall judge expedient, and pay the
same to the stockholders, on demand, at any
time after the expiration of ten days there
from, but such dividend shall in no case ex
eeed the am mot of the net profits actually
squired, so that the capital stock of the
bank shall never be thereby impaired, and
if the directors of the bank shall make any
dividends which shall impair the capital
stock of the bank, the directors consenting
thereto shall be jointly and severally liable.
iu any action of debt, scare facial, or bill `fn
equity, in their individual capacities, to such
corporation for the amount of the stock so
divided, and each director present, or
otherwise. when such dividend shall be
made, shall be adjudged ta be consenting
thereto, unless he forthwith enter his pro
test on the minutes of the board, and give
publ , c notice to the stockholders of the de
claring of each dividends.
Sac. 24. provides fur the amount of tax
the new banks shall pay intb the Treasury
of the State.
Sec. 25. That on each dividend day, the
cashier shall make a full, clear, and accur
ate statement or exhibit of the condition of
the bank, as it shall be on that day, after
declaring the dividend, which shall be veri
fied by the oath of the president and emlier,
setting forth
1. The amount of the capital stock actual
ly paid in and then remaining as the actual
capital stock of the bank.
2. The nmount of the bills and notes of
the bank then in circulation, specifying the
amount of each denomination.
3. The greatest amount ofnotes in circula
tion at any time since the making of the last
previous statement, specifying the time
when the same occurred.
3. The balances and debts of every kind
due to banks of this Sti te, and the amount
due to banks not of this State,
5. The amount due to depositors.
6. The total amount of debts and liabili
ties of every description, and the greatest
amount since the last previous statement,
specifying the time when the same occurred.
7, The total amount of dividends declar
ed on the day of making the statement.
8. The amount of gold and silver coin and
bullion belonging to such bank, and in pos
session at the time of making the statement,
designating the amount of each.
9. Tho amount on hand of bills bonds,
notes, and other evidences of debts discount
ed or purchased by the bank, specifying
particularly the amount of suspended debt,
the amount considered bad, the amount con
sidered doubtful, and the amount in suit or
judgment. •
10. The value of the real and personal
property held I>r the convenience of the
bank, specifying the amount of each.
11. The amount of •real estate taken for
debts due the bank.
12. The amount of the undivided profits
of the hank.
13. The total amount bf the liabilities to
the bank by the directors thereof collective.
It, specifying the gross amount of such
liabilities as principal debtors, and the gross
amount as endorsers or sureties.
u. The total amount of liabilities to the
bank by the stockholders thereof collective
ly, specifying the gross amount of such
liabilities as principal debtors, and the gross
amount as endorsers or sureties, which
statement shall be forthwith transmitte I to
the Auditor General of the Commonwealth,
and a copy thereof immediately published
three times in two newspapers of the c iunty
in which said bank is located, provided the
same are published, one of which papers
shall be in the German language within the
county, or in two English papers.
Sec. 2G. That if any bank, against which
the Auditor General shall have instituted
proceedings on account of any supposed act
of insolvency, as prescribed in this act,
shall deny having committed such net of in
solvency, such bank may apply to any court
of competent jurisdiction for a writ of in
junction to said Auditor General, to sus
pend all further proceedings against such
!Link as an insolvent bank, and such court,
after citing said Auditor General to appear
and show cause why such writ should not
be grant° I, and after the finding of a jury
that such bank has at all times continued,
and still continues, to re teem, in gold and
silver coin. its totes of circulation, shall
make an order enjoining the Auditor Geller
al from all further proceedings against such
bank on account of the supposed act of in
solvency on which such proceedings were
instituted, and thereupon all the property
and assets of such bank shall be restored to
its directorm.
Sec. 2.7. That if the Auditor General in
Any case fail to proceed in the manner
prescribed in the foregoing sections of this
act, in providing for the payment of the
outstanding notes of circulation and other
liabilities of the failing bank, and in clos
ing the anirs ()rimy hank bat shall have
committed an act of insolvency, the holders
of any o. its notes of circulation or other
creditors of such bank, may, in case pay
ment of such notes of circulation or other
claim has been refused when lawfully de
manded and remain unpaid, apply to any
court of competent jurisdiction, fur its writ
commanding the Auditor General so to pro
ceed, ,to.
Sze. 28. That if any bank shall neglect
or refuse to comply with any order of the
Auditor General, made in accordance with
the provisions of this act requiring such
bank to reduce its circulation, or to provide
a larger amount of specie or other means,
or to pay in its stock, or to do or erase to do
any other matter or thing which said Audi
tor General may deem necessary for the
security of the noteholders and other credi
tors, then the Auditor General may apply
to anyjudge of competent jurisdiction, by
petition, in which the Auditor General shall
be made the petitioner, and the bank im
plicated the defendant, setting forth the
substance of such order or orders, and such
neglect or refusal on the part of the bank,
its officers or agents, and the Auditor Gan•
era' having made affidavit of such neglect
or refusal, then it shall be the duty of such
judge to allow an injunction, &c.
SEC. 29. That upon the Allowance of any
such injunction, the property, creditors,
securities, liens, and assets of every descrip
tion of such bank, shall forthwith vest in
the Auditor General, who shall appoint a
receiver or receivers to take possestion of the
same, as is provided heretofore by this act,
4tc.
SE . C. 30. That no bank shall take as
security for any loan or discount a lien on
any part of its capital stock ; but the same
security, both in kind and amount, shall be
required of shareholders as of persons not
shareholders, and no bank shall be the
bolder or purchaser of any portion of its
capital, or of the capital stock of any other
incorporated bank, unless each purchase
shall be necessary to prevent loss upon a
debt previously contracted in good frith, on
security which at the time was deemed
adequate to insure the payment of such
debt, independent of any lien upon such •
$1,50 PER. YEAR IN ADVANCE; $2,00 IF NOT IN ADVANCE
stock, or in case of forfeiture of stock, for
non-payment of the instalments due thereon,
as provided in this net ; and stock so pur-
chased shall in no case be held byithe 'bank
so purchasing for a longer period of time
than six months, if the same can be sold fur
what the stock cost the said bank, or at
par; nor shall any bank, either directly or
indirectly, pledge, hypothecate, or exelyin,ge
any of its notes of circtlation fur the pur
pose of securing money to be paid in on its
capital stock, nor pledge or hypothecate,
directly or indirectly, any such notes to be
used in its ordinary business operations.
SEC. 31. That each bank shall at all times
have on hand in gold or silver coin, or its
equivalent, in its vaults, an amount equal
to twenty per centum of its circulating notes
of every description whatsoever, and when
ever the amount of its outstanding circula
ting notes shall exceed the above-named
proportion, no more of its notes shall be
paid out, or otherwise put in circulation by
such bank, nor shall such bank increase
its linlilities by making any dividends of
its profits, until the required proportion be
tween its outstanding circulating notes, and
golf and silver coin, or its equivalent, shall
be restored.
Scc. 32. That no bank shall, during the
time it shall continuo its operations, with
draw, or permit to be withdrawn, either in
form of dividends, loans to stockholders, or
in any other manner, any portion of its
capital stock ; and if losses shall at any
time have been sustained by the bank, equal
to or exceedinx its undivided profits then on
hand, no dividends shall be made ; and no
dividends shall ever be made by a bank
while it shall continue its banking opera
tions, to an amount greater than its not
profits then on hand, deducing therefrom
its losses and bad and suspended debts, and
all debts due to the bank on which interest
is paid, due, and unpaid for a period of six
months, unless the same shall be well secur
ed, or shall be in process of collection. shall
be considered bad and suspended debts with
in the meaning of this section.
Sec. 33. That no bank shalt at any time
issue, or have in circulation, any notes,
drafts, bill of exchange, acceptance. certifi
cate of deposit, or other evidence of debt,
which from its character or appearance,
shall be circulated, or intended to circulate
as money, other than such notes of circu
lation as are by this act described, and
which such bank is by this net authorized
to issue f,r the purpose of being circulated
as money.
Sze. 34. That each bank shall receive at
par at the office or banking house of such
bank, in payment of dues payable at such
bank, for notes of hand, bills of exchange.
or other evidences of debt, discounted or
purchased by, or belonging to such bank.
the notes of circulation issued by any other
solvent bank, incorporated under the pro
visions of this act.
— Sec. 35. That every bank may take, re
serve, receive, and charge, on any loan or
discount made, or upon any note or bill of
exchange, or other evidences of debt, at the
ram, of six per centum per annum on the
amount of any such note, bill of exchange.
or other evidence of debt so discounted. and
no more: Provided, however, That interest
may be reserved, or taken in advance, ut the
time of making the loan or discount, accord
ing to the usual rules of banking, &c., &c.
SEC. 36. That all transfers of notes, bonds,
bills of exchange, and other evidences of
debt owing to any bank, or of deposits to its
credit, all assignments of mortgages or
other securities on . , real fistula, or of judg
ments or dezrees in its favor, all deposits of
money; bullion, or other valuable thing for
its use, or for the use of any of its stock
holders or creditors, all payments of money
to either, made after the commission of an
act of insolvency or in c'mtemplation there
of, with a view to prevent the application of
its assets in the manner prescribed by this
act, or with a view to the preference of one
creditor to another, except in payment of its
circulating notes, shall be held utterly null
and void.
Sec. 37. That, if the directors of any
bank shall knowingly violate, or knowingly
permit any of the officers, agents, or ser
vants of such bank to violate, any of the
provisions of this act, all the rights, privil
eges and franchises of such bank shall there
by be forfeited. Such violation shall how
ever, be determined and adjudged by acourt
fif compotent jurisdiction, ,tc.
Sec. 33 provides for the punishment of
every president, director, cashier, teller.
clerk, or agent of any bank, who shall em
bezzle, abstract, or wilfully misapply any of
the moneys, funds or credits of such bank,
or shall without authority from the direc
tors issue or put into circulation any of the
notes Of such bant, or shall without such
authority issue or put forth any certificate
of deposit, draw any order or bill of ex
change, make any acceptance, sign any
note, bond, draft, bill of exchange, ,fic., by
confinement in the penitentiary at hard
labor not less than one nor more than ten
years.
SEC. 39. That the several banks and
banking assooiations of the Commonwealth
incorporated for the purposes of banking
under special charters, are hereby author
ized, by a vote of tho stockholders of said
institutions, to call in and cancel their
circulating notes and to carry on the busi
ness of banking under the provisons of this
act.
Sec. 40. That the notes issued by any
bank incorporated under this act shall at
[WHOLE NUMBER 1,548.
all times be receivable in payment of all
State taxes and other Stare dues.
Sec. 41. That the General Assembly may
alter or repeal this act at pleasure, but no
net altering or repealing this act shall im
pose nny injustice or wrong upon the stock
holders of any bank; and that any associa
tion of citizens who have declared their in
tention to make application to the "present
Legislature for an act of incorporation to
organize a bank of issue, and have caused
such advertisement to be made of the same
as is required by law, may, with their as
sociate.% establish n bank under the provi
sions of this act at any time after its passage.
Provided, the Attorney General is satisfied
and does certify that Such advertisement
has been made in conformity with the Con
stitution and present laws of this Common
wealth.
Step-Daughter vs. Step-Mother
It was due to Sir William Alexander to
say that he gave the prcsince the proud
name which at present it enjoys, of Nova
Scotia, or New Scotland, n title much more
appropriate than that of "Acadia" which to
us means nothing. At this time the French
Colony was slowly recovering from the ef
fects of the Argon expedition, that eight
years before had laid waste its fair posses
sions. Among a number of emigrants from
the Loire and the Seine, two gentlemen of
birth and education, La Tour by name,.
father and sou, set out to seek their fortune
in the New World. It must be remember.
ed that in the original patent of Acadia.
given by Henry IV to Do Monts, freedom of
religious opinion was one of the conditions
of the grant, Lind therefore, the fact, that
both the La Tours were Hu. , uenots did not
prevent them bolding commissions under
the French crown, the father having in
charge a smell fleet of transports ready to
sail frum the harbur.of Brest ; the son be
ing the commander of a fort and garrison
at Cape Sable, upon the western end of
Acadia.
Affairs being in this condition, it chanced
that the English and FrenCh ships set sail
for the same port, n t about the saute time
and it so happened that Sir William Alex
ander's fleet, meeting with the elder Im
Tour's in a fog. not (iffy captured that gal.
lan t chieftain, but also his transports, muni
tion of war, stores, artillery, &c., and sailed
b wit with the prizes to England. I 'beg
you to observe, my dear reader, that occur
rences of this kind were common enough at
this period even in times of peace, and not
considered
. piracy either; the ocean was
looked upon as a mighty chessboard, anti
the game was won by those who could com
mand the largest number of pieces. Claude
de la Tmr, not as a prisoner of war, but as
an enforced guest-of Sir William, was car
ried to London, and there robbed of his
goads, hut treated like a gentleman, intro
duced at Court, although dcprired of his
purse and liberty, and in a word, found
himself surrounded with the most hostile
and hospitable conditions in life. It is not
surprising then, thnt, with true French
philosophy, he should hnve made the best of
it: gained the good will of the Queen, play
ed off a little badinage with the ladies of the
court, and forgetting the late Lady •de la
Tour, asleep in the old graveyard in the city
of Rochelle, essayed to wear his widower
weeds with that union of grace and senti
ment for which his countrymen are BO cele.
brated. The consequence was, one of her
Majesty's maids of honour fell in love with
him ; the Queen encouraged the match; the
King had just instituted the new • order of
Knights Baronet, of Nova Scotia ; La Tour,
now in the way of good fortune, was the
first to be honored with the new title, and,
at the same time, placed the matrimonial
ring upon the finger of the love-sick maid of
honor. Indeed, Charles Etiermode la Tour,
commandant of the little fort at Cape Sable,
had scarcely lost a father, before he - had
gained a step-mother. That the French
widower should have bean so captivated by
those marks of royal favor as to lose his dis
cretion, in the fullness of his gratitude ; and
that after receiving a grant of land from his
patron, as a further incentive, he should
volunteer to assist in bringing Acadia under
the British Crown, as a primary stop, un
dertake to reduce the fort at Cape Sable;
I say, that when I state this, nobody will
be surprised, except a chosen few, who cher
ish some old•fnehioned notions, in these days
more romantic than real. "Two ships of
war being placed under his command," ho
set rail, with his guns and a step-m Other to
attack the Fort at Cape Sable. The latter
was but poorly garrisoned ; but then it con•
tamed a daughter-in-law, Under such cir
cumstances, it was plain to be seen that.the
contest would be continued to the hut ounce
of powder. Opening the trenches before the
French fort, and parading his Scotch troops
in the eyes of his son, the eider La Tour at
tempted to capture the garrison by' argu
ment. In vain be "boasted of the reception
he had met with in England, of - his interest
at court, and the honor of knighthood . which
had been conferred upon him." In vain he
represented "advantages that would result
from submission," the benefits of British
patronage ; and paraded before the eyes of
the young commander the parchment grant,
the seal, the royal autograph, and the glit
tering title of Knight Baronet, which bad
inspired his perfidy. His son, shocked and
indignant, declined the proffered honors and
emoluments that wore only to be gained by
an act of treason ; and intimated big inten-