Vincennes Gazette, Volume 3, Number 38, Vincennes, Knox County, 22 February 1834 — Page 2

THK C!l VUTF.it OF TUT. STATE B.YNK OF INDIANA.

Section 1. B. it enacted by the Gen eral Assembly of the State of Indiana That there shall be, and is hereby created ami established, a State hank with ten branches, which, or so many as shall be organized under Ihi charter, to be known and stvled the ' Slate Batik of Indiana," and shall continue as such until the first dav of January, eighteen hundred and fif t v-nint. Srf 2 The directors of the State Hank first appointed are authorized, am it is hereby made their duty to locale one branch of -aid Back at Mich place with in each of the district hereinafter named as they may deem expedient, to nil; District No. One, composed of the counties of Marion, Johnson, Shelby, Han cork, Madison, Hamilton, Boou, and Hen diicks. District No. Two, composed of the counties of Dearborn, Frauklin, Ripley Sivilzeiland, and Decatur. Dis. No Three, composed of the counties of Union, Fayette, Hush, Wayne, Henry, Del awaie.and Randolph. Dis N . Four, composed of the counties of Jefferson, Jtnning, Scott, Bartholomew, and Jackson. Dis No. Five, composed of the counties of Fl-yd, llariison, Washington, Crawford, & Clark. Dis. N Six, composed of the counties of Posey, Vanderburgh, Perry, Spencer, in War i ick . Dis No. Seven, composed of the coun-jor ties oi Knox, Sullivan, JJaviess, Uioson, Pike end Dubois. Di9. No. Fight, composed of the counties of Orange, Lawrence; Monroe, Morgan, Martin, and Gieene. Dis. No Nine, composed of the coun ties ol Vigo. Clay, Oven, Putnam, Paike, and Vermillion Dis. No. Ten, composed of the counties of Tippecanoe. Fountain Montgomery, Warren, Carroll, and Clinton, and of the Tomtory lying north of Warren and Tippecanoe and west of Carroll and Cass, to the southern boundary of the north w est district. Slc. 3 It shall be the duty of the directors of the State Bank, after the expi ration of one )ear, to locate an additional branch in the district to be numbered 1 1, composed of the counties of Adams, Grant, Huntington, Wabash, Miami. Allen, La liiange, Elkhart, and the unoiganized Territory attached to s;id several counties lor judicial purposes; and alter the expiration ol three years to locate an add'.tional branch of said bauk within the district of country l)ing north of the Wabash river, to be numbered 12, and uot in eluded in any of the districts befoie men tioned: Provided, that there shall be mote than three counties in said district; and liKt. proceedings shall be had in organizing the same as are hereio prescribed for oiganizmg the other branches; and the slate stock therein shall be obtained In the saue wy, and paid over under the fame restrictions and regulations as iprovided for the other branches: Provided, ftorcver, that nothing herein contained shall prevent the board of slate directors fiorn paving the same out of the sinking fund of the state, or any surplus funds under their control. Skc. I. Should any of the branches herein established fall to organize, as herein contemplated, it shall be the duty fif the duectors of the state bank, once in each year thereafter, if required by any pumber of the citizens who will be responsible lor the expense, to open books of subscription within such district, and locate and organize a branch therein at such jdare as they may select, if the amount ol flock heieiu lequiied shall be taken and paid for under the provisions of this act. See. 5. The said State Bank shall keep an office at the town of Indianapolis, Hnd the directors thereof shall meet and hold their ses-ion, at least once in three months. It shall be a body corporate and politic, with power to sue and be sued, plead ami be impleaded in any court of law or equity having jurisdiction, and to transact all other lawful business herein permitted them to do; and shall have power by and through her branches, and not otherwise, to loan money, buy, sell, and i.egotiate bill9 of exchange, checks, pro missorv notes and other evidences of debt. - to discount on banking principles and usa pes, bills of exchange, post notes, promissory notes, and other negotiable paper or obligations lor the paymant of money; to receive depositee, to buy and sell gold, silver, bullion, and foreign coins; to draw, issue, and put in circulation bills, notes, post notes, billa of exchange, and other evidences of debt, pavable to order or bearer and not otherwise - and all such Dotes and bills put in circulation as money, except post notes and bills of exchange, shall be made payable on demand; and lo exercise such other incidental power ns shall be necessary to carry on such business . Sec. 6. The real estate, which it shall f lawful for aid bank ro purchase, hold ?.o l convey, shall be, first, such as shall be required lor its immediate arcommnda tion in the convenient transaction of its business; or second, such as shall have hpn mortgaged to it in good faith by way of security for stork, loans previously contracted, or for moneys due; or third eu h as shall have been conveyed to it in eatisfiction of debts prevmu6! v contracted in the course of its dealings; or fourth. eu h as shall have been purchased at sales upon judgments, decrees or morfgages b'aif.ed or made for sudi debts; and the fid bank shall not putchase, hold or con

ey real estate in any other case, or for

any other purpose; and all euch real es tate, not absolutely necessary lor the con venient discharge of its business, shall be et up. at least once a year, at public sales. After having given thirty davs notice o such sale, describing the property so to be sold, and the name of the moitgager, in at least ouc newspaper in the district whete said bank is. situate, and placing three written notices in the must public places in the town where the hunk is located; and 9hall be sold if the same will bring the amount of the debt, interest, and costs for which the same may have been bought, received, or taken by the bank, and which shall remain aller deducting all profus received therefrom. Sec. 7. All conveyances ol real estate shall be signed by the President of the State Bank and have affixed the seal thereof. Skc 8. The said bank shall not at any time suspend or refuse payment in gold or silver of any of its notes, bills, or obligations due and payable, nor of any moneys received upon depositee; and it said bank at any time refuse or neglect to pay any bill, note or obligation issued by such bank, if demanded within the usual banking hours, at the proper branch where the same is payable according to the contract, promise, or any undertaking their in expressed, or shall neglect or re fuse to pay on demand as aforesaid, any monejs received on deposite, to the person or persons eutiiled to receive the same, then, and in every euch cae, the holder of any such bill, note, or obligation, the person or person entitled to de mand or receive such money? as atore-j said, shall respectively be entitled to receive nod recover interest on their eaidl demands, until the same shall be fully paid and satisfied, at the rate of twelve per centum per annum from the time of such demand a aforesaid; and any d ranch so failing to meet its engagpments may be closed as in case of insolvency . Sec 9. The siid Stale Bank an! each and every branch thereof shall mutually be responsible for all the debts, note-s, and engagements of eah other. Sec. 10, AH suits or actions against said Bank, on any contract or engage ment made, or liability incurred by the board of directors of any branch, or on any bank bill or note, shall he brought against the State Bank of Indiana Src. I 1. The process in such case shall be a summons, and shall be served on the president of the State Bank, in all cases where the contract, engagement or iiability sued for, shall have been made by the board of directors of said bank; and in all cases where the contract, en gagement or liability sued on, has been made or incurred by a branch, the pro cess shall be served on the president d such branch; and so also where the suit shall be brought on any bank loll or note, the process shall be served on the presi dent ot the branch at w hich such Lull or nete shall have been made payable; or in all such cases a copy of the process may be left at the banking hou-e or place of doing business of the State Bjnk, or of the proper branch, as the case may bj, during the usual hours of business, which shall be good service. And it is hereby made the duty of the President, or any other officer, of any branch, knowing of such service, forthwith to notify the president nd directors of the State Bank thereof. In all suits brought against said bank, on any note, engagement, or liability of any branch, such suit shall be brought in the county where such branch may be situate; arid all suits brought against the State Bank on any note, engagement, or liability of the State Bank on any note, engagement, or liability of the State Bank, shall be brought in the county of Marion. Sec. 12. There shall be no stay of execution on judgments against the Bank for notes issued or deposites made therein , except as herein provided for. Sec. 13. Said bank shall be entitled fo charge and receive for moneys loaned, six per cent, per annum and not higher, hut the same may, according to bank rules, be discounted and taken ic advance out of the sums loaned Sfc. 14. The profits arising, nfteri

paying expense? and reservation for a con-!" charter is forfeited and annulled ; and tingent or surplus fund, shall be div i? ! every issue of fact, which 6hall arise iu among the stockholders, according to theieuch proceeding, and may be joined be-

lamount of stock owned and paid in bv

each; and in making this circulation and!sa'0' snal1 De ineu J Jury J it Sliah

division of profits, each branch shall be independent of the others, and its own profits be divided among its own stockhol ders. Sec 15. There shall be deducted from the dividends, and retained in bank each year the sum of 12J cents on each share of slock, other than that held bv the stale; which shall constitute part of! the permanent fund to be devoted to pur pose? of common school education, under the direction of the General Assembly, and shall be suffered to remain in bank, and accumulate until each appropriation by the General assembly: and said tax shall be in lieu of all other taxes and as sessments on the stock in said bank. And in ca?e of an ad valorem 9ystem of taxation being adopted during this charter, the said stock shall be subject to the same ratio of taxation as other capital, not exceeding one percent, including the aforesaid tax, and the said tax shall only be assessed on such portion of the stock as shall have been paid, and on account of which, the stockholders shall not be in debted to the slate. Sec. 16 The person administering the government of this slate, Secretary of Mate. 1 reasurer. Auditor of Public Ac counts, Commissioner of the Canal Fund,

Judge of the Supreme or any inferior j court, or any person holding an office or appointment under the authority of the

General Government, shall not, while in such office, hold the office of president of the State Bank, director of the State Bank or president, director or cashier of any branch, nor that of a member of the Gen eral Assembly; nor shall any president, cashier or director ot any branch at tne Mime time hold the office of president or director of the State Bank, on the part ot the state, of the office of President, direc tor or cashier of another branch. Skc 17 The notes issued by said Fank shall be signed by the president of the State Bank, and shall be made payable at the biunch which shall issue the same and shall be signed by the cashier of such bianch. Slc. 18. No sale or forfeiture for un paid tales ol any real estate, mortgaged to said bank to secure the payment o loans made, shall until the lapse of five years from such sale, operate to prevent said bank from redeeming the same, on payment of such taxes and damages and interest thereon, as are required by law in other cases of lands forfeited and sold jon account of unpaid taxes, if at any time after such sale and forfeiture, such real estate shall become the property of the bank for the payment ot any such debt. Sec. 19 It shall not be lawful tor said bank at any time to use or employ any part of its capital stock or other funds iu the buying or selliug of goods, wares, or merchandize, or in auy other business or dealing, than is by this act authorized aud permitted . Sec. 20. It shall and may be lawlul for said bank or any branch thereof to accept, receive, and become responsible for the deposites and public revenues ot the United Stales, upon such terms and conditions aa may be agreed on by the agents of the Geneial Government and a majority of the directors of the state bank. Sec. 21. That it shall be lawlul lor said bank to receive on deposite (except! as above prohibited) moneys, bullion, plate, aud other aiticles of value ol small bulk, on such terms and cundition9 as may be agreed upon by the parlies. Sec. 22. No note shall be issued of a less denomination than five dollars; and the Legislature hereby reserves the right, at any time after ten years, lo restrict ( and prohibit the circulation and issue ofj any note tor less than ten dollars. Sec. 23 There shall be in said bank and branches an account created, opened, and kept with the commissioners of the sinking fund, in which they shall be credited with the dividends of profits accruing to the state on her stock, and all other sums passing through or accruing in said bank properly belonging to that fund, which fund shall be under the coutrol and direction of the said commissioners as herein provided. Sec. 24. It shall not be lawful for the directors of the said slate bank to locate any other branch or branches of said bank than is herein authorized. Sec. 25. The capital stock of said bank may be increased by individual subscriptions at any one or more branches, by and with the assent and concurrence of the Legihlatuie aud directois of the stale bank Sec. 2C. The General Assembly may at any time appoint an agent to examine the state and condition ot said bank, and each and every branch thereof, who shall have the same power and rights as ex amineis appointed by the directors of the state bank; and when any agent as aforesaid shall find and report, or the Governor of the state shall have reason to believe that the charter has been violated, it mav be lawful for Ihe Legislature to direct or the Governor to order a scire facias to be sued out of the Marion circuit court in the name of the state (which shall be execut ed upon the president of the state bank for the time being, at least fifteen days before the commencement of the term of said court) calling on said corporation to shew cause wherefore the charter here 'by granted shall not be declared forfeit ed; .i)d it shall be lawful lor the said court upon the return of said jcire facias, to ex amine ;nto the truth of the alleged viola tion ; and if such violation be made appear, 'hen t0 pronounce and adjudge that the tveen the state and the corporation afore he lawiui tor ine coun aloresaid to require the production of such of the books of the corporation as it may deem neces sary for the ascertainment of the controverted facts; and ihe final judgment of the court aforesaid shall be examinable in the supreme court ot mis state, tiy writ ot er ror and may he there leversed or affirm d according to nsagesof law ; and it shall ue tne duty oi me uovernor lo employ counsel on behalf of the state, to prosecute such writ of scire facias. Sec. 27. That a general meeting of the stockholders of each branch shall be held annually, at such time as the directors of the State bank shall direct, at which time elections for directors shall lake place, to which meeting the directors of the preceding year shall exhibit an exact and particular statement of the state, condi tion and affairs of said branch: and general meetings of the stockholders may be held at any other time, when ordered by the board of directors of the branch. Sec. 28. Certificates of stock shall be issued to stockholders signed by the President and Cashier of the proper branch, and may be transferred on the books of the branch to be kept for that purpose and not otherwise; in which case the old cer tificates shall bo surrendered and new ones

issued. No stock shall Le transierreu. cy

... r it any stockholder when any debt is due ft .1 iL. ..nAnt from such stockholder, uui ny me uuuscui of the directors of the branch, and such Btorlc books shall, at all reasonable times during the usual hours of transacting Dusi ness be kept open for the examination of anv nerson. having in his possession any note, bill, or obligation on any branch,then dne.'and the payment of which shall be refused. And in case any otneer having ' rr- I charge of such book shall refuse to per mit tuch examination he shall, tor every such offence, forfeit the sum ot titty dollars, to be recovered in an action of debt by the person 60 refused. Sec. 29. Stock shall be considered as personal property, and may be sold on ex ecution and transferred on the books of the branch by the officer selling the same, but in all cases be subject fo a lien in fa vor of the bank, for all debts bona fide due, or then owing and to become due the same, from the owner. Sec. 30. After the first election, no stockholder who shall not have held his stock, for which he votes, for three calendar months previous to the day of election, shall be entitled to vote: and the number of votes to which stockholders shall be entitled, in voting for diiectors shall be in the proportion following; that is to say, for each and every share not exceeding four shares, one vote; for every two shares above four shares and not exceeding thirty, one vole; for every four shares above thirty and not exceeding ninety, one vote; for every six shares above ninety and not exceeding one hundred and fifty, one vote; and for every ten shares above one hundred and fifty, one vote. But no person, co-partnership, or corporation, shall be entitled to a gieater number than one hundred votes. In all elections, votes may be given either in person or by proxy, but no nprsnn shull v,ntP hu nrnvv mnrp than ftnP hundred votes and no individual stockhold - er, who shall be a resident of the county i0 Koi,i o fko time of such election, shall vote by proxy, unless in case of unavoidable absence, ex cept females or minors. Sec. 31. No president, cashier, clerk or teller of said bank or any branch thereof, shall be permitted to vote at any elec tion for directors, as the attorney, agent, or proxy of any stockholder. No presi dent, cashier, or director ot the State Bank, or president or cashier of either of the branches, shall , during the term of his office, be eligible to a seat in either branch of the General Asembly of this state. Sec. 32 The President of the State bank shall be elected by General Asetn - ...... r . A . My, by ballot of each house t separately : as sucn 'resident unless tie gets a separate majority of the votes given by each house : Provided however, that after three attemplsat an election as aforesaid, should no concurring choice be made, the two houses shall proceed to elect the said president by joint ballot of both houses: and the person obtaining a majority ol all the votes given on such joint ballot, shall be declared duly elected as in other cas-es. Such president shall hold his office for five years, unless sooner removed by joint re solution, and another appointed in his place. Sec. 33. It shall be his duly to preside at all meetings of the hoard and decide all questions on which the board is equally divided, by his casting vote he shall have power to call special meetings of the board whenever he may find it necessary and do and transact all other business naturally appertaining to his office or conferred upon him by this act. Sec. 34. The president of the State Bank shall receive as a compensation, to be allowed by the board of directors of said bank, an annual salary, uot less than one thousand, nor more than fifteen hundred dollars, payable quarterly. Sec 35. 1 he General Assembly shall elect four directors of the State Bank, in the manner prescribed for electing th president thereof, who shall repectively hold their offices one, two, three, and four years, one going out of office each year, and shall at their first meeting after their appointment, determine by lot, the periods they shall respectively hold their offices. Such directors, or any one of them, may at any time be removed by joint resolution of the General Assembly. Their compensation shall be fixed by the board of directors of the Slate Bank; but the compensation of any number of the board shall not be increased during the term of his appointment. Sec. 36. Vacancies occurring in the office of President or of any State Direc tor of the State Bank shall be filled by appointment lo be made by the Governor, until the same shall be tilled by the General Assembly, as in this act is provided for the election of the President and Di rectors of the State Bank. Sec. 37. The board of directors of each branch shall annually and a9 often as a vacancy may occur, elect one director for the State Bank, whose compensation shall be fixed by the branch directors and paid by such branch. Sec. 33. It shall be the duty of said bank and branches to receive and pay out the revenues and funds of the State, un der the direction and control of the Trea surer of State, whenever the Legislature may so direct. Sec 39. The board of directors of the State Bank shall have power to appoint a Cashier and such other inferior officers and agents as mav be necessary to carry on their business to fix their term of office, and compensation and require such bond and security from them as they may from time to time deem expedient. Sec. 40. The directors of the State Bank shall have power to limit and con-

trot the amount of discounts and loans of

the branches, after ibey shall amount to once and a quarter the amount ol capital stock paid in to settle and adjust the ac counts and balances between them, and for good cause may suspend ihe operations of the same. They shall have power and it shall be their duty to regulate and equalize the State funds and public deposites that may be in bank and may transfer the same from one branch to another as circumstances may require. But they shall iu no case withdraw any part ot the cap ital stock of any branch, or any part of its own local funds, without the consent of tbu board of directors of such branch, to be used in any other branches; except in cases requiring such branch to be closed as herein provided for, and they shall have power to make and presciibe all necessary by laivs to carry the poweis herein conferred into effect Sec. 41. They shall have power Jo appoint one or more of their number to viit and inspect the condition and affairs of each branch, when and as often as to them shall seem necessary, and it shall be their duty to make such examination ut least once in six months, and also at any other time when thereto required by the directors of any branch. No director shall be appoiuted by the State Bank to examine, visit and inspect the condition aud affairs of any branch from which he has received his appointmeut. Sec. 42. The person or persons so examining shall have power lo examine on oath, or affirmation (which they are hereby authorized to administer.) all the officers, servants, or agents of any branch, or any other persons in relation to the affairs anil coudition of such branch; a-ud they shall have power to examine all the books, papers, notes, bonds, and other ev idences of debt of any branch; to com. P e uie uouk.-, iucu nuu piupei.j m .i. i i. . i i . . f .:A brancb "ith their returnS ? statements made ht' u e amount ot money aud available luuds or, hand, and Igenerally to make every other inquiry and examination necessary to ascertain the ac tual condition of such branch. To le continued. ORGANIZATION OF THE STATE HANK OP INDIANA. The President and Directors on the T, . . , , , , , , 1 J Samuel Merrill President, Kobert Morrison, Lucius E. Scott, Calvin Fletcher, and Seton W. Norris Directors. Ap r rn f t 1 lirl.a Iiinr mm on n rA ilia r. a t ll lr . . , , , j , administered, the board was organized, jand eded to thp elerton of a Cashior find lumnu tt Iffiv wna il0rtpn WOO gave bond, and is sworn The Board then deteimined by lot the term of service, when Kobert Morrison diew for one year Se'on IV. Norris for two years Calvin Fletcher for three years Lucius II. Scott for four years. A committee of Messrs. Scott and Morrison are appointed to make inquiry, and report to the Board the most eligible points within the diffeient Bauk districts for the location of the branches. February 14, 1834. The Board met. The Committee reported the following selections: That in Distiict No. I, a branch be located at Indianapolis, Marion Countv. No. 2, a branch be located at Lawrenceburgh, Dearborn County. No 3, a branch be located at Richmond, Wayne County. No. 1, a branch be located at Madison, Jefferson County. No. 5, a branch be located at New-Albany, Floyd County . No. G, a branch be located at Evansville, Vanderburgh County. No. 7, a branch be located at Vincenne's, Knox County. No. 8, a branch be located at Bedford, Lawrence County. No. 0, a branch be located at Terre Haute, Vigo county . No. 10, a branch be located at Lafayette, Tippecanoe county. The report of the committee is adopted except as to the third District.Messis. Norris and Fletcher are appointed a committee to enquire into the expedi ency and practicability of making a personal examination into the relative claims of the different points, at which the location of a Branch could be made in the 3 I District. Said committee reported in writing at length, and recommended a resolution, Thai it is impracticable to make the per sonal examination referred to, without causing a delay of proceeding in all the branches, and that it is therefore inexpedient. Which resolution is unanimously adopted and Ihe report of ihe firsi committee, as to the 3d district is therefore unanimously adopted. Resolved, That the Cashier he drected to cause a publication to be made in each of the newspapers of this State, for tnir ty days pievious to the 7th day of April next, for the opening of Books of subscription at the points located for the Branches. ADVERTISEMENT. AME to the plantation of the subscriber, J sometime about the first of January last, a Mack horse, with a star in his forehead, his sides shaved uith ihe harness, and shod before. He is ab.oit fourteen hands high and not less thau eighteen or twenty years old The own r is desired to prove his property, pay the expense and take him away. JAMES E WING. February 20tb, 1834 38-3t HORSE-BILLS OF DIFFERENT IMPRESSIONS, NEATLY IXECLTF.D. AT THIS OFFICE.