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1 VOLUME IV. NEWBERN, N. C. SATURDAY, APRIL 15, 1821. - rNUMBERrl 60. ' . i :r' I- - L LISTED AND PUBLISHED WEET, BY PASTEUR t WATSON, At $ 3 per annum-half n advance. By AUTHORITY. ; L ax CT to extend the charters of cer tain flank in li Ptrict of Colum- bia ! Be d enacted by the Senate and House of Representative of the United States of Africa in Congress assembled, 1 hat the acts incorporating the Banks in the District of Columbia, herein it.. a m mv: The Bank of Alexandria, and the farmers Hank of Alexandria, in the town ol the nanic o uaiu lumbia, in the town of Georgetown ; i i be, and the same are nereoy exten ded and limited to the third day oi 3I.irch, which shall be in the year of our Lord one thousand eight hun dred and thirty-six, under, and sub ject to, such limitaiions, modifica tions, and conditions as are hereinaf ter enacted. Sec. 2. And be it further e.iacted, That if any one of the Banks herein named shall, at any time fail or rc: fuse to pay on demand any bill, note or obligation issued by such Bank i. lawful currency if required, or shall neglect or refuse to pay on de mand in like currency, if required, any moneys received by such Bank on deposite, to the person or persons entitled to receive the same ; then, and in such case, the holder of any such note, bill, or obligation, or the person or person s demanding such deposite as aforesaid, shill, respec tvely, be entitled to receive and re cover interest on the same, at the fate of twelve per centum, per an num, from the time of'the demand, until the same be fully paid ancl sat isfied. And further It shall be lawful for Congress, forwith, to re voke the charter of such Bank, and to provide for liquidating and set tling the accounts and affairs there of, in such manner as to their judg mtnt may seem expedient. Sec. 3. And be it further enacted That any president, director, cash ier, teller, clerk, or other officer, or servant, of any of the said banks, or of the Bank of Potomac, hereinaf ter named, who shall withhold, with- draw, conceal, or embezzie, or con nive at the withholding, withdrawal, Concealment, or embezzlement, of the money or other property ol the BanK whereof he is an officer or ser vant, with intent to defraud the said Bank, shall be subject to prose, u Uon therefor, in the name ol the United States, by indictment, on preseptm-nt, or information, in the circuit court ol the county wherein such offence shall have been com mitted, and, on conviction thereof, shall be adjudged a, felon, and suffer an imprisonment of not less "than one year, nor more than ten years, and forfeit and pay a sum not less than one thousand, nor 'more than twenty thousand dollars, one moiety whereof shall go to the U. States aud the other to the informer. ' Sec. 4. And be itfurtktr enacte.L I hat, unless the president and di rectors, for the time bein ot the banks, resDectivlt, .u. i charters are hereby extended, shall ! on behalf of their stockholders! -... umc ui an auioonty irom wm, or a majority in inteiest and number of them, file their dedL.- f ?' writing, in the office 01 he Secretary of the TV- RUTy, within six months from the Passage of this act, assenting to, and ,CCrPung, the extension of charter JTT'- Sraned, under the terms, Cd u..ns 'and limitations, conuin- fcit all SUGh Bank shU for chartY Ut!c 10 such extension of tt'J'And b.c.U Mthsr enacted That evy stockholder of the Ban: Hlfauuti " ington, the Bank of the Metropolis, and the Patriotic Jank of VVash-in-ton, in the City of Washington the Union Bauk ol Georgetown, me Farmers and Mechanics' Bank of f;Pnrirtown, and the Bank of Co 01 A exandnaiot tire arms' Bank . during which tira? it shall hold and the Union bant stock so subscribed, other Wdenewm& bVlafd be Washington, (being a citizen of the ges and immunities, now secured ests of the said stockholders in the proceed to ascertain the Value of the United States, and ' not otherwise,) shall be entitled to vote by himself, his.agent, or proxy, appointed under his hand and seal, at all elections, in;virtue of this act, and shall have as many votes is he has shares, as far as ihirtr shares, and not more than one vote for every five shares thereafter. Sec. 6 And beit further enacted That a meeting Dl the stockholders "of the Bank of Alexandria, in the j town of Alexandria, shall be held on the third Monday in January in every year during the continuance of this act ; previous notice whereof shall be published in some news paper printed in Alexandria Gr the City of Washington, for the space of four weeks successively ; and the stockholders assembled in consequence of such notice, shall choose by 8 ballot irom among them selves, by . a majority of votes of such as shall be present, or by proxy, ten directors, being citizens of the United States, for the term of one yjar thereafter, a: d on the same day annually, for and duringt he continu ance of this act, a liko election shall be made : and in case of death, resignation, refusal, or disqualifica tion, of any director, the remaining directors at their next meeting, or as soon as convenient thereafter, shall elect by7 billot, another person, qualified as aforesaid, in his place for the residue of the year. The directors or anv seven of thenar shall, at their next meeting after ev- - ery general election, elect, by a ma- J jority of members present, by ballot, j from among themselves a president, ' tne uirectors snail meei as soon as who shall retain all the powers and conveniently can b? thereafter and e privileges of a director ; and in case , lect another person as president, in of refusal, death, resignation, or the manner bdfore jdescritfed. , disqualification of the president, the directors shall meet as soon as con veniently can be thereafter, and af ter fillii.g the vacancy in the num ber of directors required by this act, elect another person for president, in manner before directed. thw rrnntJ I'hat it shall not be lawful for anv i of the said Banks, a ftr 'K. fircw viiu xx a o v y j oi January next, to make, issue, or reissue, any bill, note, or obligation, payable to bearer or order, of a de nomination under five dollars. Sec 8. And be it further enacted, That the fourteenth section of the act incorporating the Bank of Co lumbia aforesaid, passed the twenty eight day of December, one thou sand seven hundred and ninety three, be, and the same is hereby, repealed, and-annulled : Provided, That the -said fourteenth section shall remain in full force and effect in relation to all debts contracted with the said Bank previous to the passing of this act. Sec. 9. And be it further enacted, That it shall be lawful for the Cen tral Bank of Georgetown and Wash ington to proceed, forthwith, to li quidate and close all the concerns of the corporation, and, after paying and satisfying the debts, contracts, and obligations, of the corporation, to divide the capital and profits which may remain, among the stock holders, in proportion to their re spective inteiests ; and for this pur pose, and for no other intent or pur pose whatever, all the necessary powers, as fully as they are now enjoyed by the said corporation, shall be, and the same are hereby, continued to the said corporation, for the term of five years from the first day of January next, and no longer. Sec. 10. And be it further enacted, That itshall andmay be lawful for the stockholders of the Central Bank of Georgetown and Washington afore said, at their next annual , meeting tor the election of directors, to re duce the board of directors for the said Central Bank, to any number not less than six. KSeV An(i bc ' further enacted, i hat the corporation of the Bank of Potomac be; and the same is hembv, continued to the third day of March, rhevearof our Lord. one thou. sand eight hundred and thirtv-six, to it by an "act passed on the si. teenth day of j February, one thou sand eight hundred and eleven, en- titiea, t - Anjact ip incorporate the Bank of Potomac," and shall b subject to all the restraints and limi tations expressed n tne said act, except so far as the same shall be altered by any provision hereinafter contained. M i . Sec. 12. And be it further enacted, That an election for directors of the Bank of Potomac shalll be held in the town of Alexandria, on the first Mondrtv in November in each year, of whLli notice shall be given0 in one or more newspapers published in said town, for four weeks at least before the day of election ; and the stockholders shall choose by ballot, to be given in; perspn or by proxy by a majority of votes, from amongst the stockholders," thirteen directors for the term of one year, thereafter, and, on resignation, disqualification, or removal, of anyi director out of the county:of Alexandria, o'r out of the county of jFairfax, in Virginia, the other directors at their next meeting thereafter, may elect by ballot another! person, qualified as aforesaid, in His place for the resi due of the year. The directors of said Bank shall, atithe first; meeting after every general election, elect, by ballot from among their own number, by a majority of their whole number, a president ; and in case of his death, resignation, or remo val out of the county of Alexandria or out of the county of Fairfax, or of his refusal ! to accept his office, Sec. 13. And be it further enacted, That every stockholder or the Bank of Potomac, being ja citizen ol the United States; shall be entitled to vote at allele(jtions to be hold en by the stockholders of said Bank, in pursuance of this act, and shall have as manv votes in nrooortion. to tne stock he may jhod:as follows, that isto sav: For e'erv share, from J T j J one to twenty one vote ; for each share, from twenty to fifty shares, one vote for two shares ; from fifty to one hundred, one vote for four shares ; above one hundred shares, one vote for six shares : Provided, That no share, or number of shares, pledged to the said Bank ajs securi ty for any "debt due, or to become due, to it, shall be considered as cdnfering any; right to vote at the said elections. . Sec. 14. Andbett farther enacted, That it shall be lawful for the Pre sident of the tJniob Bank of Alex andria, at any! time before the first day of April next, j with the consent of a majority in interest of the stock holders thereof, to subscribe to the v i r r .1 r it ' said ranK oi ;rotomac tne iuu a. mount of the icapital stock of. i the said Union Bank, on such subscrip tion being made, to deliver over and transfer to the said Bank of Po tomac, all the! books, papers, mo ney. nroDertv. arid evidences of debts belonging to fthe said Union Bank, and to convey to the said Bank of Potpmaq the real estate belonging to tie said : Union Bank, for passing the title of which bank in the said estate to the said Bank of Potomac, the dejed of the Presi dent of the said Ubion Bank shall be effectual ; which subscription, delivery, transfer, jand conveyance, being made, tte stockholders of the said Union Bank shall, forthwith, become stockholders of the said Bank of Potomac, and shall be en titled to the same privileges and ad vantages, and jthe stock of the said Union Bank shall, (to all intents and purposes, be considered as forming a part of the capital; of the said Bank of Potomac ; and the proper officers of the said Bank of , Potomac shall forthwith issue to the stockholders of the said Union Batik certificates of stock in the s aicl Bank of Po te nia c, at the rate of brie share, or one hundred dollars of Potomac . bank stock; for everylhnndfed dQUars ; kX nmrV n aiKrr;hrl - r Sec. 15. And be it further enacted, ; That on the saidunicn being raade as . aforesaid, all contracts legajly made by the said 'Union Bank shall forth- "'in yctuiuc ouiigaiory uu me jaiu Bank of Potomac, and all debts due by the said Union Blink on notes issued by it, or otherwise, shall be come chargeable on, ancLpayable by, the said Bank of Potomac f and the parties to such contracts, and the 'creditors of the Unioi Bank, shall haveUhe same remedies to enforce the performance of sch contracts, and the payment of sftich debts, a gainst the said Bank Potomac, its property and effects, ls are now by law, given to them against the said Union Bank ; and that the said Bank of Potomac maf, in its own name, sustain all act&ns and suits which may be necessW to enforce the, payment of debts(due to, and the performance of cjn tracts made with, the said teneinejjs, goods, and chatties, belonging to and improp erlv withheld from, tVje said Union Bank. ' Sec. 16. And be it further enacted, That all bonds, bills, notes, or oth er securities for money, which, i by the terms thereof, have been, or shall be, made payable, at the said Union Bank, which shall tall due af ter the said union shall have been carried into effect, shall, froni thence forth, be considered as if the same had been made payaHe at the said Bank of Potomac ; and that a de. mand of payment of the said Bank of Potomac shall, to all intents andi purposes, be as effectual in law as if the same were made at the said ! U-t nion Bank. ! . ! ' ' Sec. 17. And be it further enacted, That from the time the said ua'on of the said Banks shall be carried into "effect, the twenty-seventli sec tion of jan act of Congresss, passed, on the third 'day of March bne thou sand. eight hundred and seventeen, entitled M "An act -to incorporate .the subscribers to certain Banks in the District of Columbia; j and to pre vent the circulation of the notes of unchartered associations within, the said District, shall be, and4 the same is hereby, repealed : Provided, That such repeal shall! not, in any way, impair the right of the said Bank of Potomac to the money, property debts and effec which shall be transfered6r conveyed to it, as aforesaid, nor its remedies in 'its own namefor the recovery thereof ; nor shall any suit now brought in the name of the said Union Barik, thereby abate, but the1 same may be carried; on and prosecuted for the benefit of the said Bank! of Potomac, to final judgment and execution ; and proceedings of such judgments or executions may be Instituted and carried on in the -namefof said Union Bank, againstithe bail, securities, and all other persons pound in such suits, for the defendants therein. Sec. 18. And be it farther enacted, That iflany stockholdior stockhol, ders in either of the said ' BanTks who has not heretofore assented! to the union aforesaid,! hall, within three months from th passing of this actl file his declaration in wri ting, in the said Bank ; of Potomac, declaring himself dissatisfied with the said union, and his determina. tionto withdraw his jrjterest from the same ; and if the sd Bank can not agree with said stockholder jor stockholders to the amount of such interest, and shall not forthwith pay the same, then it shall be Hwful for the circuit court of thf j District iof Columbia, at Alexandria on the pe tition in writing of suchjstockh'dder or stockholders who shall appoint three commissioners whose dutv! it shall be to ascertain the lvalue of the interest of such stockholder or stock holders! in the Bank to which he or tnej m y--- - V'5 ! jSa,d untoD, tor wn.cn pprpose ?ucl comm.S.oner shall, um the a.rec tjon oC the sa.d court twe aces jto M"1 papers, andpccountS iOf the said Banks, and, pn report ! of; Approved-March 8,1821. - proceed stock of such stockholder or j stock holders, and spall" decree the lvalue, so ascertained, to be paid to him or them' by the said bank of Potomac,, and shall have power to enforce such decree "by execution, attachment, or other legal process. .7.- Sec. 19. Arid be it further enacted That it shall and may be lawful for any two or more of the banks, whose ; charters are hereby extended, by .their respective presidents and di rectors, with the consent of a ma jority in interest of their repective stockholders, to agree, under writ ten articles of association, to unite and form'one bank, by a style and name to be precribed ir such arti cles ; and the subscribers thereto, and their leal representatives, shall, from the day fixed for that purpose in the said articles, be incorporated under the style and name set forth in the said articles, and henceforth subject to the same rules, duties, regulations; provisions; and impps tions, and be vested with the same rights, privileges, and immunities, as a body corporate, 'as by -this act appertains to the" Bank of Potomac, and are prescribed for the Union Bank of Alexandria with the Bank of Potomac. I ' . Sec, 20. And be it further enacted, That this act be, & the same is here by declared to be, a public act, and that so much, and such parts, of the said acts, incorporating the several bankspaforesaid, as may bc repug nant to this act, be,and he same are hereby, repealed arid annulled. Approved March 2, t821. AN ACT to re'jui.ite 'the location of land warrants, and the issuing of patents, in certain cases Be iUnau yd by the Senate ond Hsuse of Representatives of theUni ted States of America in Congress assembled. That the h-jJders, by assignment, of warrants issued under; the acts of Congress, of the fifth larch, eigh teen hundred and sixteeen, the third Marctv eighteen hundred and scv enteen, to Canadian jVolunteers, niay be, and hereby are, authorized to locate the said warrants, and to receive! patents therefor, in their own names, ashad been tHe practice before the twenty-sixth of Decem ber, eighteen hundred and nineteen Provided, however, TJiat in no case shall lands be so located, until after having been exposed to public' sale, shall remain unsold; Approved March 3, 121. AN ACT to continue in force, for a further time, the act entitled .'' An act for estahlishing trading houses with ? the Indian tribes.. ' - 1 Be it enacted 6y the Senate and House of Representatives of the United States of America in Congress assembled, That the act, r entitled " An act for' es tablishing trading houses with the Indian tribes, passed on the second day of March, one thousand eight hundred and eleven, and which was by subsequent acts, ..continued in force until the first day of March, one thousand eig'it hundred twenty one, shall be, and the same is herebv further continued in force until the third day of June, one thousand eight hundred and tWenty-two, and no longer. Approved March 3, AN ACT to amend the act, entitled "An . act for the gradual increase of the Na vy of ,the United States. Be it enacted by the Senate and House of Representatives of the & United States of America inl Congress assembled,1 That the first section of the act, entitled An act for the gradual increase of the Navy of the United States'," approved April twenty-ninth, eigh teen hundred and sixteen, shall be, and the same is hereby, repealed." Sec. 2. And.be if further enacted? That, instead of the appropriation therein contained, there shall be, and is hereby, appropriated, the m f fi hundred thousand dol ls;re annuroi for ,ir year, from fe P . h, -Q bundred and ,wen. j t0 be Iied t0 ;;t0 eec,ie purposei of the :A- r. . rnt, x- .u ; r - ,- V "5 : V ! I ? 4 .5
Newbern Sentinel (New Bern, N.C.)
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April 15, 1821, edition 1
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