No. 328. AN ACT To incorporate the Meadville, Hartstown and Greenville plank road company. SECTION 1. Be it enacted by the Senate and House of Representatives of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by the authority of the same, That Joseph Douglass, L. L. Lord, Joseph C. Hays, David Derickson, W. W. Dick, John Commissioners. M. Osburn, R. C. Boilieu, Thomas M'Kean, David M'Fadden, John M'Fadden, Thomas Clemson, A. V. Magaw, John M'Farland, Archibald Stuart, John Dick, Norman Callender, David Sexton, J. C. G. Kennedy, David Compton, David Dick, Joseph Dickson, C. M. Yates, William Kerr, Edgar Porter, J. C. C. Brooks, Walter Crocker, Thomas Kerr, James M'Intire, David Johnston, Arthur Johnston, (second) John H. Work, Jacob Work, Arthur Johnston, John Johnston, Philip Spencer, John M'Namara, Robert Benedict, E. Affentranger, John Winket, John Trall, Robert Andrews, John Andrews, James White, James S. Shellito, James Wright, William M'Lean, Robert Martin, M. M’Arther, Hugh Calvin, Joseph M'Arther, James M'Lean, M. Martzhall, John Fenn, J. Ewen, John M'Arther, William Q. Snodgrass, Robert M'Kinley, George Livingston, James Dickey, William Bennet, John M'Kissick, Quinton Brooks, Joseph M'Arther, John Brooks, John Gelvin, Joseph Patten, James Dipple, Hugh M'Masters, William Wilson, J. Gamble, Daniel Dipple, John M'Masters, James Gibson, Jacob Trace, John Shellito, George Shellito, Hugh Wilson, Samuel Armstrong, R. Marshal, John Andrews, James M'Lanahan, Robert Henry, James Henry, David Calvin, William Andrews, John Atchison, James C. Parks, Thomas Kilpatrick, Jacob M'Granahan, James Reed, Richard Henry, Alexander Henry, Abner Frame, Solomon Horn, John M'Dowel, Thomas M'Michael, Robert M’Queen, Robert M'Entire, C. Jackson, John Cotton, James Frame, John Smith, Abraham Jackson, Robert Clark, of Crawford county; James M. Power, Samuel B. Lowry, James R. Wick, Samuel Goodwin, Moses Varney, Isaac R. Bearse, M'Clure Cowan, J. B. Plumer, Joseph Woodworth, James M'Curdy, James Nesbit, James Williamson, Luke Porter, James Waugh, of Mercer county, be and they are hereby appointed commissioners to open books and receive subscriptions, and organize a company by the name, style and title of The Meadville, Hartstown and Greenville plank road company," with power to construct a plank road from Meadville, Crawford county, to Greenville, Mercer county, by the nearest and best route or routes, as the stockholders or directors may determine upon, subject to all the provisions and restrictions of an act re-regulating turnpike and plank road companies, passed the twenty-sixth day of January, one thousand eight hundred and forty-nine, excepting that portion of the thirteenth section of said act relating to tolls, which discriminates in favor of wheels of the width of four inches and upwards; and the company hereby incorporated, shall have power to regulate their tolls within the limits prescribed by the said thirteenth section, without reference to the width of wheels in any case. Style. Location. Subject to the provisions and strictions of a certain act. Capital stock. 66 SECTION 2. That the capital stock of said company shall consist of one thousand shares, at twenty-five dollars per share: Provided, That said company may from time to time, by a vote of the stockholders, at a meeting called for that purpose, increase their capital stock so much as in their opinion may be necessary to complete the road or roads, and to carry out the true intent and meaning of this act. SECTION 3. That if said company shall not commence the construc- Commencement tion of their road within three years after the granting of this charter, and and completion of complete the same within seven years thereafter, this act shall be null and road. void, except so far as the same may be necessary to wind up the affairs and pay the debts of said company. WILLIAM F. PACKER, Speaker of the House of Representatives. GEORGE DARSIE, Speaker of the Senate. APPROVED-The seventh day of April, one thousand eight hundred and forty-nine. WM. F. JOHNSTON. No. 329. AN ACT For extending the charter of the Farmers' and Drovers' Bank of Waynesburg. for the term of fifteen years. SECTION 1. Be it enacted by the Senate and House of Representatives of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by the authority of the same, That the charter of the Farmers' and Drovers' Bank of Waynesburg shall be Charter extended and the same is hereby extended and continued for the purpose of transacting the business of banking at its present location, for the term of fifteen years, from the expiration of the present charter, with the capital stock as at present fixed by law, subject to the provisions imposed by this act, and to the provisions now imposed upon the said bank, by existing laws of this commonwealth, and to such further provisions as the legislature may hereafter enact for the general regulation of banks in this commonwealth. SECTION 2. The total liabilities of the said bank, exclusive of its cap- Total liabilities ital stock, shall not at any time exceed three times the amount of its not to exceed capital stock paid in; nor shall the debts of every kind due and to become three times the due to the said bank, ever amount to more than four times its capital amount of its stock paid in; and the said bank shall neither loan nor discount when its capital stock paid circulation shall be equal, for thirty consecutive days, to three times the in, &c. amount of specie, and notes of specie paying banks in its possession belonging to said bank, and any balances standing to the credit thereof, in specie paying banks, convertible into specie at the pleasure of the said bank. SECTION 3. The auditor general may at any time require the cashier Auditor general of the said bank, to state and return on his oath, the amount of the cir- may at any time require statement, &c. In case of for an assignment to be made. culation of said bank for any consecutive period of thirty days in the current year which he may designate; and also for the same period, the amount of specie, and the notes of specie paying banks, in its possession, belonging to the said bank, and the balance standing to its credit in specie paying banks, convertible into specie at the pleasure of the bank; and also the whole amount of its liabilities and debts due and to become due; and if upon the return so made, it shall appear that any of the provisions of the second section of this act have been violated, for the said period of thirty days so designated by the auditor general, he shall give notice thereof to the governor, who shall thereupon issue his proclamation, declaring the charter of the said bank to be forfeited. SECTION 4. If the charter of the said bank shall be forfeited, in manner provided in the preceding section, after proclamation made by the feiture of charter, governor, then the directors of said bank shall forthwith make and execute an assignment, in the manner provided in the act of the twelfth March, one thousand eight hundred and forty-two, entitled "An Act to provide for the resumption of specie payments, and for other purposes;" and it shall thereupon be proceeded in the manner provided in that act If the directors of the said bank should neglect or refuse to make the assignment provided for in this act, each and every one of the directors so neglecting or refusing, shall be guilty of a misdemeanor, and upon conviction in any criminal court in the commonwealth, be imprisoned in the jail of the proper county, for any period not exceeding two years, in the discretion of the court. Embezzlement, how punished. Proviso. Duty of auditor general. Proviso. SECTION 5. If any president, cashier, or any other officer or clerk of the said bank, shall fraudulently embezzle, or appropriate to his own use, or to the use of any other person or persons, any money or other property belonging to said institution, or left with the same as a spe cial deposit or otherwise, he or they, upon conviction of such offence, shall be fined in any amount not less than the sum so appropriated or embezzled, and sentenced to undergo imprisonment in one of the state penitentiaries, as the case may be, to be kept in separate and solitary confinement, at labor, for any term not exceeding five years: Provided, That this shall not prevent any person or persons aggrieved from pursuing his, her or their civil remedy against such person or persons. SECTION 6. It shall be duty of the auditor general to require the said bank, on some discount day to be designated by him, in every quarter of the then current year, one of which shall be in the month of November, to make and return to him the exhibits hereinafter provided for; which exhibits the auditor general shall prepare in tabular form, and communicate the same to both branches of the legislature, within ten days after their meeting: Provided, That the first section of the act approved the first April, one thousand eight hundred and thirty-six, entitled An Act requiring the banks of this commonwealth to make quarterly statements to the auditor general," shall not be made applicable to this bank. SECTION 7. It shall be the duty of the cashier of the said bank, for Exhibit to be the time being, to prepare, upon the requisition of the auditor general, made out by a just and full exhibit of the affairs and condition of the said bank, cashier upon requisition of audi- on at least four different discount days of the then current year, to be tor general. designated by the auditor general, one of which shall be in the month of November, so as to exhibit the entire amount of the assets of the bank, and every item thereof under separate heads, and also, the entire amount of the indebtedness and liabilities of the said bank, and every item thereof under separate heads, setting forth on the one side particularly, so as to give a full and proper view of all the assets belonging to the said bank first, the amount of gold and silver in the vaults of the Exhibit. bank; the amount of current notes, checks and bills of other banks; the amount of uncurrent notes, checks and bills of other banks; the amount of any other obligations of other banks; the amount of bills and notes discounted, designating the amount under protest; the amount of the mortgages of the bank, and the assessed value for the preceding year, of the real estate bound by such mortgages; the amount of prior mortgages, judgments and other liens; the amount of judgments held by the bank, and the assessed value for the preceding year, of the real estate bound by such judgments; the amount of prior judgments, mortgages and other liens; the amount of the real estate held and owned by the bank, and the assessed value for the preceding year, of each separate piece or parcel of real estate owned by the bank, and its location ; the amount due from other banks that are solvent, giving the name of each bank from which the same is due, together with the amount so due by each one of said banks; the amount due from insolvent banks, the names of such banks and the amount due from each one; the amount of public and corporate stocks and loans, the nature and kind of loans and stocks, designating particularly in what companies or corporations the stocks or loans are held, and the amount of stocks or loans of each company or corporation so held; the amount of bonds held, desiguating particularly the nature and character of the bonds held; the amount of treasury notes; the amount of claims against individuals or corporations that are disputed or in controversy; the amount of all other debts and claims either due or to become due, and the value of any other property of the bank, as the same stands charged on the books or otherwise; which said exhibit shall also set forth on the other side, the debts and liabilities of the bank on the discount days designated by the auditor general, specifying separately, under distinct heads, the various kinds. of liability and indebtedness; the amount of capital stock actually paid in; the amount of the circulation; the amount of deposits, certificates of deposits; the amount due the commonwealth; the amount due to corporations; the amount due to banks; the amount due to individuals, and the amount of claims against the bank remaining in controversy, and any other items of indebtedness or liability, not embraced in the ) foregoing specifications. SECTION 8. It shall moreover be the duty of the cashier, in prepar- Further duty of ing the exhibit required in the preceding section of this act, for the cashier in preparmonth of November preceding the meeting of the legislature, to state ing exhibit. in regard to each item and sub-division of the assets of the bank, what is in the judgment and ability of the said cashier the actual marketable cash value of each item of the same; and the amount of current notes of other banks on hand at the time the exhibit is made out, also the amount of uncurrent notes held by the bank. SECTION 9. The exhibit, agreeably to seventh and eighth sections Exhibit to be of this act, shall be verified and accompanied with the oath or affirma- verified by oath tion of the cashier of the said bank, duly attested before some officer or affirmation. authorized by law to administer oaths, to the following effect, namely: that he, the said cashier, has carefully examined the books and muniments of the bank, and has compared the same with the said exhibit, as far as is practicable, and that he verily believes the said exhibit or statement presents a fair, true and full view of the actual condition of the bank; and in addition to the above exhibit made for the discount day in the month of November preceding the meeting of the legislature, shall be accompanied with the oath or affirmation of the cashier of the said bank, setting forth that he has inspected the several items of assets, or the evidence thereof, in the said exhibit referred to, as far as is practicable, and that he has according to the best of his judgment and ability, valued each of said items of assets at the absolute cash price which it would produce at the time, and that in his judgment the actual assets of the bank are intrinsically worth the amount of the valuation so made by him. SECTION 10. The president, directors, cashier and other officers of Officers of banks required to take the said bank, and of every other bank hereafter chartered, shall before an oath before en- they enter on the duties of their several offices and stations, severally tering upon their take an oath, to be administered by some officer authorized by law to duties. administer oaths, to observe faithfully and honestly the provisions of the several acts of assembly applicable to the bank of which they are directors or officers, or in which they hold stations; and that they and each of them during their continuance in office will not knowingly violate or sanction, or willingly permit any of the provisions of the law governing their charter to be violated; the said oath so to be taken shall be subscribed and immediately delivered to the auditor general, to be filed in his office. taken and sub SECTION 11. If any president, director, cashier or other officer of the Officers having said bank, or of any other bank hereafter chartered, shall after having taken and subscribed the oath required by this act, wilfully violate any scribed the oath required, who provision of any act of assembly applicable to the bank of which he shall violate any is an officer, he shall be taken and deemed to have committed wilful of the provisions and corrupt perjury; and upon conviction in any criminal court in this of any act, &c., commonwealth, he shall suffer such punishment as is inflicted by the shall be deemed laws of this commonwealth on any person guilty of the crime of perguilty of perjury. Required to pay into state trea sury certain per centum on capital stock. Notes of a less denomination than five dollars prohibited. Dividends. Failure to redeem notes in gold and silver, to be deemed a forfeiture of charter. Individual liability. jury. SECTION 12. That the said bank shall pay into the treasury of the commonwealth, within three months after the expiration of its present charter, two per centum upon the whole amount of the capital stock thereof. SECTION 13. Neither the said Farmers' and Drovers' Bank, nor any other bank hereafter chartered, shall issue and put in circulation any bill or note of said bank, payable at any other place than at said bank, nor otherwise than payable on demand, nor of a denomination less than five dollars; and any violation of this section by any officer or officers of said bank or banks shall be a misdemeanor, punishable upon conviction, by a fine of not less than five hundred dollars, and imprisonment in the jail of the proper county, not less than one year. SECTION 14. It shall not be lawful for said bank to make or declare any dividend to the stockholders thereof, except from profits actually acquired above the par value of the stock, and no such dividend shall be made at any time that will in any manner impair or diminish the capital stock of said bank. SECTION 15. If the said bank shall at any time fail or refuse to redeem its notes and pay its liabilities in gold and silver coin, upon demand being made at the banking house of said bank during banking hours, such failure or refusal shall be deemed and held to be an absolute forfeiture of the charter of said bank. SECTION 16. The stockholders of the said Farmers' and Drovers' Bank of Waynesburg, shall be jointly liable to the creditors of said bank, being note holders, in their individual capacity, for the amount of all the notes issued, in an amount not exceeding the par value of the stock owned and possessed by them respectively; and the manner of enforcing such liability shall be as follows: in case the said bank shall Assignment to be violate the provisions of any law applicable to it, so as to forfeit its made in case of charter, or becomes insolvent and in failing circumstances by reason of insolvency. the mismanagement of its affairs, and is compelled to make an assign |