Newspaper Page Text
SAVANNAH,
Thursday Evening, Dec. 5, 1811.
.PLANTER’S BANK.
The following, -we ate assured by a gentle-
man just from Milledgevills, is a copy of the
pew-bill for incorporating the Planters’ Bank,
in the shape in which it received the sanction of
the constituted authorities of this state. The
bill has not yet reached us in an official form.
Irs great length and a pressure of advertise
ments, have excluded every thing else this
afternoon.
A BILL
•To be entitled “ an act to amend an act, tc
Incoiporate the Planters’ Bank of the-state of
-Georgia, and for other purposes, passed the
29fn December, 1810 ; also to provide against
embezzlement and forgeries.
Whereas; subscribers to the Planters’ Bank 'distance of thirty days at leasi from the date
• .1 ..r r- i i • e -r- .. .
thereafter, by (ho stockholders, ar proprietors
fi1 (be capital stock of the said corporation,-and
by plurality o. the votes actually given in ; and
those who shall be duly chosen at any election,
•shall be capable of serving as directors by vir
tue of such choice until the end or expiration of
the first Monday ot January next ensuing the
time of such election, and no longer. • And the
said directors, at their first mcciing after each
election, shall choose one of their number as
president, and in case of his death, resignation,
removal frern the state, or from the board of
direction tire said directors shall proceed to fill
the vacancy by a new election for the remainder
of the yfear—provided always, and be it further
enacted, that as soon as the sum of thirty thou
sand dollars, in gold and silver, shall have been
actually received on account of the subscrip
tions to the said stock, notice thereof shall be
given by the commissioners herein before nam- !
ed, in the public gazettes of Savannah and Au
gusta ; and the said commissioners shall, at the
same time, in like manner, notify a time and
place witb'n the said city of Savannah, at the
cr creditors of the said coKporcticn, and may
be prosecuted ta judgment and execution, any
condition, covenant or agreement to .the con
trary notwithstanding, but this shall not be
construed to exempt the said corporation or
the lands, tenements, goods and cha'tels of the
same from being also liable for and chargeable
with the said excess, and such cf ihe said di
rectors who may have been absent when the
said excess was contracted or created* or who
may have dissented from the resolution or act,
whereby the same was so contracted or creat
ed, may respectively exonerate themselves
from being so liable, by having their dissen*.
il present, entered on the minutes of the said
corporation.
9. The directors shall have power to is
sue to the subsetibers their certificates of
stock, which shall be transferable on the books
of the cashier only, by personal' entry of the
stockholders, bis legal representative, attorney.
qrv? di >f-i.rir-ietils tofuntgei if* tdS •?« b-;
it therefore enacted hr the authority aforesaid.
TViat the laid CtmmiwHrttert c*- c majority if si.-m,
be end they are hereby St.-Merited :■> purchase cr rent
a house end let, end to d-froy out if the money nl-rra-
dy received, the expeticcs ueccacry to ir.cle the sem--
ft fc- the v»e of a benk, etc the said commissioners er
c meforitt of then, are hereby authorised end rtr.p-jzs-
e-rd, OLt of the money a’-eedy received on subscription,
to pay 'did discharge a!! cr pence i and disbursements
made o- contracted fo~, which ere applicable so the suit!
institution and which expencr cr rnp..g meats have ac
crued cr been -nude to and for the benef.: of the -aid
institution, end tc facilitate the early operatim -thereof.
Sec. 1J. .ina whereas also from th- difjenitico
•a rich the commissioners of said battle heretofore net i ;
obtaining- a sufficient ncml-n- of subscribers for share-,
so us to organize the sent at an early period, it hectic
necessary and just for the former subscribers to re if'
to each other allclaims to any forfeiture which •»;>*;•
ot her seise have accrucil, under the third sec-ion of the
said act of incorporation, which release under the cir
cumstances stated in the petition aforesaid, was pr.,t- : -
andJrrudent, be it therefore further enacted, That
of the state of Georgia, and others interested • of such notification, for proceeding to the elec-
in the welfare of said bank, by their petition, j tion of directors, and it shall be lawful for such
ptay, tlrat thc-chartcr of the said bank “ be so j to be then and there made ; and the persons
amended us to make it more useful to the pub- j w ho shall he then and there chosen shall, be
lie and with g;eater facility carried into cuecu- t j, e g r6 t directors and shall receive front the
tir.n^” and’whereas the amendments proposed
in the said petition will forward the establish
ment-and operation of the said institution.
Sec. 1st. Be it therefore enacted by the senate
and hounc of representatives in general assembly
met, and it is hereby enacted by the authority of
the same, That the capital stock of the said
fejr.k shall be one million of dollars, to be di
vided into 10,POO shares cf £100 each, of which
i 900 shares shall be reserved until 1st day of
January, 181.3, on the original terms, then or
at any prior time to be taken by the stale, ac-
emding to the .pleasure of the legislature,
whereby the state at any subsequent election
shall be entitled to the appointment cf two di-
rcctois, and if they be not then taken by the
stale, tc be disposed of in manner hereinafter
provided.
-See. 2. And be it further enacted, by the au
thority aforesaid, That the capital stock of the
said Bank and every other property, teal or
.personal, which it tnav hereafter acquire and
fold, shall be subject to a taxation no; exceed-
said commissioners the nett proceeds after de
ducting expences, which may be in their hands,
and shall be capable cf acting by virtue of 6uch
choice, until rhe end or expiration of the first .
Monday in January next ensuing, the time cf J insurance, or in the importation or exportation
guardian or trustee, duly authorised for that ?* *•»&*••*> ™ d
7 3 that oil fo"j vit urc or supposed for tenure ansvip urnirr
purpose. - - - - ' ^
lO. That the stockholders at their meet
ing shall vote in person or by attorney July
authorised lor that purpose, which power
shall be executed in the ptcsence and to be
certified by a justice of peace ot notary pnblic
of the county or state, where the shareholder
resides, and mitiorsxir fetrme coverts shall vote
by his, her or their guardians or trustees duly j state of Georgia,’ passed the jth December,
authorised. ( '—hich above act was passed the 19th J9cccrr.bc
be end the same urc hereby repealed.
the third section of the said act f incorporation, be and
is hereby remitted and declared as null amt void as if
there had been no such section in the act of which this
is an amendment.
Sec. 14. And he it further enacted by the authority
aforesaid, That the 2d, 2d, bth, and 7th sections of
an act entitled, "an act to incorporate the planters’
bunk of the state of Georgia, and ‘ to repeal an act,
’ entitled an act, tn incorporate the i-ianters’ bank f the
laor"
mo.
11. The company shall in no case directly-
or indirectly be concerned in commerce or
iriunuay in jdiiu.uy next ensuing, wic uincu, , - - - — —
making (he same, and shall forthwith thete- |P mcblse m ’ sa ^ e> r l any goons, wares ortner*
after commence the operations of-he said bank, C vriiat^ver. (bills of exchange, notes
. .< . . . v . ... . - and bullion only excepted) except such goods,
wares or merchandise, as shall be truly trans-
at the said city of Savannah; and provided fur
ther that in case it should at any time happen,
that an election of directors should not be made
upon any day, pursuant to this act it ought to
have been made, the said cotporaMon shall not
for that cause be deemed dissolved. But it
shall be lawful on any other day to hold and
make an eleption cf diiectors, in such -manner
as shall have been regulated by the bye-laws of
the said corporation ; and provided that in case
of the death, resignation, absence from the
state, or removal of a director, his place
tr ay be filled up by ti new choice for the re
mainder of the year, by the remaining direc
tors.
Sec. 8. And be it further enacted by the au-
ing the ratio of other taxable property in litis < thority aforesaid, That the following rules, re-
cluto « T y s-n-stlr*nl. rornrifftfinn ihp riiv r.f I »• •. • i - * « i« r
stater Provided, The corporation of the city of
Savannah shall not have the power to tax said
bank stock, but may tax any proper y, real or
personal, which said bank may acqune, 'u the.;
ratio oY taxation against the like property in
the said city*
Sec 3. And be it further enacted, by the au
thority aforesaid, Thai the subscription alica-
dy opened in the city of Savannah, shall con
tinue until .he 1st day of December next, un
der the supetintendance of the present Cum-
mistfonei s, to wit : Charles Hart is- JJohn Bol
ton, Tames Johnston, C/iward Stehbios, John
P. Williamson, William Mein,.John M. Ber
rien, Audi ew Low, Joseph Carruthert;, Zar.lia-
riah Afiller, William B. fiullucb, John Gum
ming, George Anderson, Edwatd Swarbreck
and Ebenezcr Stetk—a majority of whom shall
be competent to the dischaige of their dunes—•
until which day, it shali and may be lawful for
any person or co-partnership, being citizens of
the United States, corporation or body politic,
Co subscribe fur any nUmber of shares, not ex
ceeding 100, except as provided aforesaid, in
relation to the state : Povided, that if the
whole number of shares be not taken up on or
before the first day of December next, then,
and in that case, it shall and- may be lawful for
any person or copartnerhip, being citizens cf
the Untied States, corpotation cr body politic,
established in the Untied States, to j-ubsertbe
for any number of shares, unsubscribed for as
aforesaid. And the -sums to be respectively
subsetibed lor, shall be payable in manner fol
lowing, viz—It) per cent at the time of sub
scribing, and 20 per cent on or before the 1st
dry of January next ensuing, the saul subscrip
tion, and the balance of the sums so subscribed
-at such time as the same shall be ’required by
the directors : Provided that 60 days previous
notice of ihc time at which such payment is
required to be made, be given in the Gazettes
Of the city of Savannah.
: strictions, limitations and ptovisions, shall form
and be fundamental articles of the constitution
of the said corporation.
Rule 1. The number of votes to which each
i stockholder shall be entitled, shall be according
to the number of shaies he shall hold, in the fol
lowing proportions, that is :o say,for qpe share,
cne vu e ; for two shares and riot exceeding five,
twovc.cs; for every five shaies above five,
one vo ; e : Prov ded, Thai no person, corpora
tion, or b-;dy politic or corporate, shall be en
titled m ins, her or their tight, to more than
s : xty votes. And after flic fiist election, no
share or shares shall cooler a tight of suffrage,
which shall not have been holden and transfer
red, acc.oiding m the rules cf the bank, three
calendar months previous to the day of election.
2. None but a stockholder, entitled in his
own right tu twenty shares,and b. n g a ci'izen
of the sta e, and not being a dnertcr of an.y
other bank, shall be eligible as a director; ami
if any one ol the directors, abet being elec ed,
shall at any time during the term foi which he
shad have been civ sen, cease to be 2 stock
holder, his seat shall thereupon become vacat
ed, and the remaining diiectors, or a majority
of them shall, at their next meeting, pass an
■order declaring him no ionger to be a diiector.
3. The stockholders shall make such com
pensation to the president for hts services, as
shall appear to them teasonable.
4. Not less than five diteciors shall consti
tute a board for the transaction of business, of
whom the president shall always be one, ex
cept in case <-f sickness, or necessary absetiae,
in which case, his place may be supplied by
any director, whom he, by writing under his
hand, shall nominate for the purpose.
5. A number of stockholders, not less than
twenty, who together shall be propiietcis ol
two bundled shares or upwards, shall have
power, at anytime, to call a meeting of the
See. 4. -ittd be it further er.ac’ed, by the au- stockholders for purposes relative to the insiitu-
tharity aforesaid, That the present stockhold- i S !v ’ ,! ff at ‘ c f st SIX! Y days nonce in the ga-
ets, who have heretofore subscribed for shares Eetlcs j* 1 cries ol Savannah, and Augusta,
cm] paid 10 per cent at the time oi subscricrib- i specifying in such notice tire object or objects
ing, shall, upon 30 (thirty) days notice given by such meeting.
the commissioners and published in the g-j- t The cashier or treasurer of the bank for
jtettesot the ciiy of Savannah, be t equiied to ! tne t,rnc befpg, and all other cfiiceis appointed
pay Use further sum of 20 per cent upon the ! b Y the directors, (except the president) before
sum before subsetibed. j be or l -*“y enter upon the duiies of his or their
Sec. 5. Anti be it further enae’ed, by 'he an- ! °“ lCC > shu11 B ivc boild with two or more sccuri-
hti'i ya/crctaid. That the stock which shall 1 lies ' t0 thc satisfaction of the directors, in such
sum cr sums as shall be required by the said
directors, with condition for his or their good
behavior, and a faithful "discharge of duty.
7. The lands, tenements and hereditaments
installment be called in, by such persons, at which it shall be lawful for the said corporation
such time and under such regulations as to [ to hold, shall be only such as shall be requisite
ilmcnts. or number of shares. ! for its immediate accommodation, in relation •
remain unsubsetibed for, or the instalments
-which shall remain unpaid en the day appoin -
ed for the election of directors, such stock
shall hereafter be disposed of or such further
ferred, conveyed or pledged to them by way
of security for money actually loaned anil ad-
vauccd, or for debts due, owing or growing due
to the said corporation, or purchased by them
to secure such debts so due to thc said corpo
ration, or to indemnify and secure the said cor
poration for advances to be made, or notes to
be discounted, or to effect the insurance or. the
property that may belong or be thus pledged
to the said company, for its security.
12. The bills obligatory and of credit, notes
and other contracts whatever, on behalf of the
said .corporation, shall be binding and obligato
Ty upon the said company, provided the sftm.-
be signed by thc president, and countersigned
or attested by the cashier of the said cot por.i-
tion ; and the funds of tlie said corporation
.•■hall in no case be liable for any contract < i
engagement whatever, unless the same shall
be so signed and countersigned or attested as
aforesaid; and'the books, papers and corre-
pondence, and the funds ot the company shall
at all times be subject to the inspection of the
board of directions and stt.ck holders, when
convened accoiding to the provisions of this
act.
13. Dividends of the profits of the corpora
tion, or of so much thereof as shall be deemed
expedient and proper, shall be declared and
paid .halfyearly, (the first half after the bank
j shall have gone into operation-excepte-d) and the
said dividends .shall from time to time be de
ter mined by <t majority ot thc directors, at a
meeting to be held for tit at purpose, andsha'I
in no case exceed the amount of the nett piofi-
actually acquired by tile corporation sotha !
the capital stock thcrof shall never be im
paired. '
14. The directors-shall keep fair and regular
entries, in a book to be provided for that pur
pose, of their proceedings ; and or. any question,
when two directors shall require it, th^ years
and nays of the directors voting, shall be duh
inserted on their minutes, and those minutes be
at all times, on demand, produced to the stock
holders, when at a general meeting the same
shrill be required.
to. Thc corporat ion shall exist and continue im-
tiil tire 1st J 1811, when it shall cease from
discounting or making further emoluments as a
corporation. Hut nevertheless, the said corpora
tion shall continue after the expiration ef its char
ter, until the concerns and claims of the said bank
are finally settled and wound up, so as to enable
the said bank to appear as plaintiff or defendant,
and to obtain by suit or otherwise a settlement and
liquidation of its outstanding demands, and in no
» “s to acquire new pi opc-rujor profits by discount
or otherw ise.
Sec. .9 And be it further enacted by thc authority
aforesaid. That if any president, director, officer or
servant of the said “ Planters’ Hank of ilia state
of Georgia” shall secrete, embezzle or convert to
his own use, any note, bill, obligation, security,
-money ,oi- effects belonging to the said bark, or de
posited there by any other person, every person so
intentionally offending, shall be guilty of simple or
grand larcer.y ; :a>d being thereof convicted, shall
suffer the same punishment and undergo the same
sentence and judgment, as provided for by law, v>
be passed against a person convicted of such grand
larcer.y. But the property of tiie offender shall
nevertheless be responsible, ns wa ll as his -sccuritv,
■notwithstanding any-prosecution under this act.
Sec. 10. And be it further enacted by the authvrztv
aforesaid, That If any person or persons sbajl foi—e,
counterfeit or alter, or fraudently utter any note,
bill, obligation or other security of the Planters’
Bank of the stale of Georgia, or pay, or tender in
payment, or offer to pass any forged, counterfeited
or altered note, bill, obligation or other security pf
the said bank, knowing the same to be forged, coun
terfeited or altered, and shall thereof be conv.ctcd,
shall suffer death or such other punishment rs r-.:v
hereafter be pointed out by law.
Sec. 11. .sad be it further enacted by the authority
-'-reraid, That if any person shall forge,* utter or
r
r
e
tatc of Georgia, cr to receive the same or anv di-
S4id.directors. { lion of deb’S previously contracted in the course 1 s 5*j tc (jeor g' l ' i , to receive the same or any <fi-
Sec. 6. And be it further enaced by the cu- 1 of its dealings, or pm chased at sales upon i V l j, ® r , °j'‘t Kno ■' :m<!
tnoriiy aforesaid, 1 hat if there shall be a fail- judgments which shali have been obtained for
ure in the payment of any sum to be paid by f-such debts. And in every instance in which
any person, co partnership or body politic, when the said company may become owners or clai
the -came is required to be paid by this act,
or when it^lisll be reqmjed to be paid by thc
directors, the share or shares upon which such
failure shall happen or accrue, shall be for such
failure forfeited, and may be again sold and dis-
pemed'df in such manner as the directors shall
order or provide ; and the sums which may
Yiave been paid thereon, ettali revert to the be
nefit -of the said corporation,
Sec. T th. And be it further enacted by the au
thority dforeacid. That for the welt ordering the
affaire of tire said corporation, there shall
thirteen directors, who shall be elected as snv.c
as thirty thousand dollars in gold 3nd silvc
coin shall have been received cn accouu* of the
subscriptions for the said stock, and on the fits
Monday io Jauiery in each and every yea:
mants ot lands, tenements, or hereditaments
the board of directors are erapoweied to sell or
dispose of thc same, in such ^manner as they
shall deem beneficial to the use of :he said
company.
8. The total -amount cf the debts which
the said corporation shall at any time owe,
whether by bond, bill, note or other con
tract shall not exceed three times the amount
of their capital stock, over and above the
ameurt of specie actually deposited in their
vaults for safe keeping; in case of excess, the
directors under whose administration it shall
happen, shall be liable fur tire same in their
individual, natural and private capacities and an
sctiofi of debt may in such ca»e be brought
;g»ins: 'bum cr any of them, by any creditor
shares, dividend, artery part thereof transferred,
i - - conve-vcd’or received bv virtue cf such forged, si-
t ered or counterfeited letter <S attorney, or order
other instrument, or shall falsely and dceeitfull-
personate any true and lawful proprietor, or pr<
prieters, of any share or shares cf stock, or div
dead, or money, or other property, deposited h
the said hank ; thereby transferring, cr cndeavoi
hig to transfer the said stock, dividend, mot-.e-- .
or other property, or receiving, or endeavoring *•
receive, the said stoek, dividend monev, or orb
property, in every ’
so
sll
such punishment as shall be adjudged by the- con
before which the said conviction shall take plae
so that thc same does not extend to death,
less than ten years of s-rvitiide or imprisonnH '
Sec. 12. H'h'-rat it will facilitate the operation
the said bark, to have the stecexsarv bvi/d ngs r-*;
for the director*, cud seh-rer. t it i< e.!,s repreu-n
that the commissi one**, with j-.e at probation ■ ft he j
lent sloe-- ’tohie~i, here g. nt ts rateddersbtr cxftz-u
' V* • » • «*- — *'* — ■*—# •»e* UlUJIt.* , Hi 11,
re perry, in every such cas?, the person or perso:
■> offending, and being thereof du'.v convictei
tall be adjudged a felon of f.-lohsj and stiff.-,
Planter’s Bank oi' die State of Georgia.
Bo.VHD OF COMMI'SIONEUS,
Savannah, 5At December, 1811.
Present, Charles Hants, Cha rman—Gcoige
Anderson, Lbcntzcr Stark, John Cumming,
J (>hn P. Williamson, Edward Stcbbms, Wil
liam B. Bulloch, Andiew Lew, John M Ber
rien, Zi«ciui:i h Miller.
Resolved, That the act -to amend an act to
inroipoiate ihe Plantei’s Bank of ihc Sato
of Georgia, &c. passed at the present session of
thc Legtslaiuic, be published id the Savannah
and Augusta papers.
Whereas, the subscription to the sjid Bank,
continues opened under the superin'erdartes
of commissioners, and will continue s.>, until
Diiectors aie elected, any number of .shares c.at»
nerv be subscribed for, on paying ten pet cent,
on ercii share at the time oi subscribing, and
twenty per cent.on or before the fiist clay of
January next.
Resolved, That ptr v.anl to thc fourth sec
tion ol thc “ act to amend an act to hicniporate
the Planter’s Bank cf thc State of Georgia, fxc.”
die former subscribers to said Batik, ere here
by “ required to pay the further sunt of twenty
per cent.” on each shatc, on or befura Monday
the 6th dry cf January next.
Resolved, That the commissioners will at
tend at the Exchange, in the city -of Savanna ii,
on cveiy Tuesday and Friday, from the hours
"f ten tu twelve o’clock, and on Monday ike
•G h day of January from nine o'clock m he
morning until one o’clock, and from tin no
o’clock of the same day, till five o’clock, to re
ceive subscriptions, -and also the instalments
required io be paid by the said act, and by the
notification hei-cby given.
Whereas, The commissioners are in the actu
al receipt of upwards of thirty thousand dolla -s,
as required by thc seventh section of die “ act
to amend an act to incorporate the Planter’s
Bank ofGeoig'a, &c.” the same is hcrebv no
tified according!)-, and be it therefore resolved,
“ That an election for directors to thc said
bank will take place in the Long-room of the
Exchange, in (he city of Savannah, on Satur
day thc lhh day of Jannaty ncxi, undzr the
direction and inspection of the commissioners,
or any three of them, from the hou'S of nine
o’clock in the morning, until three in the after
noon, when the elcc’ion will be clo ed, ard thq>
votes counted cut. JZxtrac from he tninuici,
Charles Harris, chairman.
Married, in S’. Peter’s Parish, Sou'll C«rt>-
lina, on the Istinsiant, Mr. Thomas Shasd-
ley, of this city,. to the amiable Miss Edits
Floyd, of'he former place.
May Hymen’s bands e’er pleasant prove,
And ev’ry thought and wi*b belove!
port of savannah.
ARRIVED.
Brig Jane, Gunnodo, St. Ubes, S. & C.Howard-»
fait.
Schr. York, Johnson, St. Mary’s—fait—to S. & C.
Howard.
CLEARED
Ship Maddalena, Williams, Greenock, O. Sturges.
fCT Doctor Schley informs his
friends and the public, that r;t- h s retur d to
tiiis city, and is again ready to a’’end profes
sional duties as usual, lie can be found at his
shop. Rear the Exchange, or ateff. Sheilman’s.
dec 3—— 14*5
Grand Lodge.
The v Member* of the
GRAND I.ODGE of Geort
gia, are notified -o attend a-
their Lodge Room, in the
Filature, on the fir ft SA
TURDAY in December
near, at 10 o’clock in the
forenoon, being a Grand
Quarterly Ctmim nlca-ion,
for the Election of Officers .and other ht&nefs oi the
Craft.
By order of the Eight Worfhspfu! Grand Mafrer,
D. D. Williams,
nov 12—12-5 Clrand Src’ny-
1 Notice. 1
Tltofe perf.in; who rented Pews in the Pies-
byterian Lht’.rch, on the C'd inil. willpleafe call
mi the fubferiber at hi j Aore. before Vvcdnefday
ext and fe tie fer he frme, other wife they
will be fold o the highefi bidder on that day.
*t 11
o clock,
at ti e (_ hvtrc-i.
Htlu artl S’tLbins,
ha'rn.an of ’he TS-a'A. of T u.tics, of the
Pi tsA-ute. ia,-. Chtf eh.
dec 5^ 145