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EDil'Ea BY TltOtAS HAYNES. VOL. V. NO. 52. HnttbavS of pinion, BY P. 1.. ROBINSON, State Printer. And Publishes (by authority) of the Lairsof the tailed Stale. i.'Si r.n Evr.in tvesday morning. XT TERMS.—Three Dollars per nnnttm. No subscription taken for 100 than a year, and no paper «!• . ontinuvd, bin nt the option of the publisher, until all arrear ages arc paid. CHANGE OK DIRECTION’.—We desire such of our subscribers us nmy at any time wish the di, cction w» :‘ ir papers changed from one Post Oftico to another, to nfortll us, in nil cn sos th*' p'n •to which they had been previously sent; as the , mere ortb'r to forwaid them to a different oflicc, places it almost out of our power to comply, bemuse w • h.ne nn in *.■•■« of ascertaining the oHiee from w hich they are order- d to hr <-b in . ,1, but by a senich through our whole subscription book, con taining several thousand names. AD\ ERTISEM i'.NTS i.i -erted at the usual rates. Sales of LAND, byAdmi nistraters, Execute r, < r Guntditins, are required by ’aw tube held on the first Tues day in the month, between the hours of ten in the forenoon and three in the after noon, nt the Court l!o ; e in the county in which the prop Hy is situate. Notice of Ibese m’ci must 1 .it ain a public . izette SIXTY DAYS previous to the day of •ale. Sales of NEGROES must be at public miction, on the first Tuesday of the month ■ between the usual hours of sale, at tho place of public* sales in the county where the ; letters IC'timentnry.of Administration or Guardianship, may have been granted, first giving SIXTY D\YS notive thereof, in one of the public gazettes of this State, •nJ at th * door of the Court House where such sales arc to be held. Notice for the sale of Personal Property must be given in like manner, FORTY DAVS ptevious to the day of sale. Notice to the Debtors and Creditors of an Estate must be published FORTY DAYS. Notice that application w ill bo made to the Court of Ordinary for leave to se’J LAND, must be published for FOUR MONTHS. Notice for leave to sell NEGROES, must bo published for FOL R MONTHS ■ before any order absolute shall be made by the Court thereon. Notice ol Application for Letters of Administration must be published THIRTY DAYS. Notice ot Application for Letters of Dismission from the Administration of an Es tate, are required to bo published monthly for SIX MONTHS. byAuthority. education. An Act to establish a general system of education by Com mon Schools. Section 1. Be it enacted by the Senate and House of Re present a tires of the Slate of Georgia, in Genera! Assembly met, and it is hereby enacted by the authority of the same, That; from and after the fir>t day of January, eighteen hundred and thirty-nine, the funds of this Slate heretofore known as the Academic and Poor School Funds, be, ami the same are here by consolidated, and together with the interest on one-third part of the surplus revenue, derived to this State from the Uni ted States, and heretofore set apart for that purpose, shall com pose and constitute a general fund for Common Schools, for' the State of Georgi >. Sec. 4. And b it firth r cnaele !by the authority aforesaid, | That w ithin ten days after the reception of such notice, the School Commissioners shall assemble together, and elect from tiieir number a President ofthe Board, and a Secretary, and shall also<ippoint a Treasurer, who shall give bond and secu rity to the Commissioners for the time being, and their succes sors in office,in such stuns as they ma v fix upon,conditioned faith fully to discharge his duty as Treasurer, and should any vacan cies happen in such Board of Commissioners, by death, resig nation or otherwise, the same shall be filled by the Board itself. Sec. 5. An ! b it further enacted by the authority aforesaid, Tint it shall be the duty of the School Commissioners in each division, or a majority of them, to lay off their respective coun ties into School districts, conforming, as nearly as practicable, to the present Militia districts, in the same, in a manner most suitable and convenient for the purpose contemplated in this act. Sec. G. And b' it further enacted by the authority aforesaid, That they shall apply for, and receive from the State, their proportionable share of the general fund for Common Educa tion, and sh ill apportion and divide the same among the sever al School districts in their divisions, in proportion to the num- ’ ber of children in each, between the ages of five and fifteen years, and shall make an annua! report to 'he Governor, of the ; number <>f School districts in their respective divisions, the .districts from which reports have been made to them, and the defaulting districts tl.c length of time a school has been kept in each ; and al>o the amount of funds received by themselves or treasurers, from the State, and from taxes raised, at d in what manner the same has been expanded, and the number of children taught in each district; which report (lie said Commis sioners shnll caiis<‘ t<> be recorded by their Secretary, in a book kept for that purpose. Sec. 7. And be it farther enacted by the authority aforesaid, That th? Commissioners of each School division, shall by this act, be, and they are hereby constituted a body corporate, (Ol der the name an I style of tne Commissioners of the Common School, and tire m ob* capable of suing and being sued; tmd the 1 in?tees of the several School districts of each division, shall also be a body corporate, iinderthe name and style of the Trustees of the district schools, with like powers as above, both ofwhich said Corporations, shall be allowed nnd entitled to ow n real estate and other property, upon whi< h to erect School houses, and fir other purposes connected with the Schools. Sec. 9. And be it further enacted, by the, authority aforesaid, 1 Tiiat the ’I rustees shall, w ithin fifteen days after their appoint ment, proceed to ascertain the number of free white persons in their respective districts, between the ages of five and fifteen years, and return the same to the Commissioners of the School division to which they belong. They shall also receive fpuin the School Commissioners, or their Treasurer, the firWns to which they are entitled under the law, and on the first Monday I in November i:i each year, make a report to the said Commis sioners, showing th- amount received, the manner of its expen- i diture, the number of c hildren twight in their district, lhe length of time w hich a school has been taught, and the compen sation paid to teaidn-r 3 , and their names. They shall locate! and superintend the erection of suitable School houses in their I respective di-trirts, at the most convenient and suitable places' for the inhabitants and scholars residing in the same, shall employ and pay teachers and visit the schools at least twice in i the year. Sec. 10. And be it further enacted by the author Uy aforesaid, That the Commissioners and Trustees under this act, shall hold their office for twelve mouths, or until their successors tire elected, and receive no compensation for their services. Sec. 11, An Ibe it further enacted biy the authority aforesaid, That it shall be the duty ofthe Governor, annually, to distrib ute to the ComniH-ioners of each School division in the State, ) tneir proportionable part ofthe Common School Fund, wbi<-|i apportionment shall be made (bv the last census, until the next censii» he taken, and then hy that.) according to the num ber of free white persons, between the ages of five and fifteen years, of which he shall give to said commissioners, in each division, immediate notice. Sec. 12. And. !>■• it further enacted by the authority aforesaid, 1 uat no moneys revived from the State by the Commisi'mn ers for School purposes, shall be expended for any other pur poses, than for paying teachers and purchasing books and sta tionary for children, whose parents are unable to furnish tl e same. . Sec, 13. And it further enacted by the authority aforesaid, Th it aftj-r the e schools shall have gone into operation, no Tiustecs for districts shall be allowed to receive any funds from tie Commissioners, tinless they shall have made a return signed by a majority of th ir number, showing the amount received <y them, and how the same has been expended, and that a school has been kept in their districts, at |i ast three months in the year preceding, or then ending, '* • ’ An 7be it further eianl’ il by the authority aforesaid, i at all money's not drawn by any such defaulting district shall > r - <i< 1 a d to the amount to be distributed (lie next year, and ap- P 's'.'''' !l . ’»ch divisions. An I b d further enaett dby the authority aforesaid, Ilfat should tiie Comuii.c-ioners, in any division, fail to apply 0y ■ |||ttern® GKOROIA, TUESDAY MORAING, JSANUAISY 22, . for and distribute the fund received as directed by this law, they shall be subject to a suit for damages, at the instance of the ' Trustees of any district in such division, in any court of law in i this State having jurisdiction ; and the amount of damages so ! recovered, shall be collected out ofthe private property of such Commissioners, and not from the funds ofthe School. Sec. 17. And bi it further enacted by the authority aforesaid, \ That all white persons between the ages of five and fifteen years ’ shall be alh ived to be taught as scholars in the respective dis : tricts in which they reside, or in ease their location may make ! it inconvenient, iti the adjoining district, by making applica ! tion to the Trustees thereof, who may prescribe, though no j one over the age of fifteen y ears and under twenty-one, shall be excluded from said Schools. Sec. 13. And be if further enacted by the authority aforesaid, i That in those counties where tin; inhabitants are thinly settled, the Commissioners may, if they think it best, refuse to lay off ' the same into School districts, but they shall employ a suitable number of teachers who shall, under their directions, tench : school not longer than three mouths in any one district or , neighborhood, so that every section of' such county shall re | ceive, as nearly as can be, equal nil vantages from said fund; — and it shall be the duty ol the Commissioners of any such county in wliich the itinerating sy stem may be thought best, to j mention the same in their annual report: and so far as relates j : to the county of Baker, the Commissioners shall confine them i selves to the three Military districts of said county. Sec. 19. And be it further enacted by the authority aforesaid, \ That the Commissioners and Trustees elected as aforesaid, in ■ the foregoing act, befote they enter upon the duties of their of- i 1 fices, shall take the following oath before any Judge ofthe Su- ! I perior Court, Justice of the Inferior Court, a Justice of the ; Peace, i.i the county where they reside, viz: I, A. 8., do so lemnly swear, that 1 will faithfully perform all the duties re quired of me by law, as Commissioner of Common Schools, or Trustee of Common Schools, as the ease may be. JOSEPH DAY, Speaker of the House of Bepresentatives. ROBERT M. ECHOLS, President ofthe Senate. Assented to, 2Gth December, 1837. GEORGE R. GILMER, Governor. j An Act to amend an act to establish a general system of ed ucation bv common schools, —assented to 26th December, 1837. Sec. 1. Be it enacted by the Senate and J douse of Repre sentatives, of the Slate of Georgia, in General Assembly met, and it is hereby enacted by the authority of the same, That the second and third sections of the above recited act, be, and the same are hereby repealed ; and in lieu thereof, that each coun ty’ in this State, shall be considered and known as a Common School Division ; and that on the first Monday in March, in | the year eighteen hundred and thirty-nine, and on the first Monday in January, ofeveryyear thereafter, or so soon after the ' above mentioned days, as the same can be conveniently done, ! the Justices ofthe Inferior Court ofeach county in this State, shall by order, entered upon the minutes ofthe Court, appoint five fit and proper persons, as Commissioners of Common j Schools, in the Division where such Justices may reside, and shall, within ten days (hereafter, cause a certified copy of stub appointment, to be delivered to them, which shall be sufficient notice of the same. And such Commissioners shall continue in office one year; or until their successors shall be appointed. Sec. 2. And be it further enacted by the authority aforesaid, That if the said Commissioners, or any of them, shall be unable I at any time to procure the services of a Treasurer, as contem- , plated in the fourth section of the above recited act, it shall and ■ may be law fid for the President of such Board of Commission- . ers, to act as Treasurer, who shall give bond and security to his Excellency the Governor, and his successor, for the faith ful disch urge of his duty’ as Treasurer. And the said Commis sioners, withing ten days after their appointment, shall by or der entered in the minutes of their board, appoint for each School District, to be laid out agreeably to the fifth section of; . the above recited act. three trustees, all of whom shall reside in , the district for which they shall be appointed, and shall be no tified of their appointment within ten days after it shall be made. , Sec. 3. And !> ■ it. further enacted, That if the Justices of the Inferior Court of any county shall not within one month after the ti^^herein before fixed for that purpose, select and appoint five Commissioners, ns aforesaid, who shnll accept their appointments, the su'd Justices ofthe Inferior Court shall them selves discharge the duties of Commissioners in their division ; and unless said Commissioners shall within one month after their appointment select and appoint three trustees in each dis trict or division, who shall accept such appointments, the Jus tices of the Peace, and such other person as the Justices of the ; Peace may appoint, shall discharge the duties of trustees, in any district in which such appi.intment shall have been omit ted ; and the Commissioners appointed by the Court, may fill ; byelection any vacancy which may occur in the Board, during , the year; and a majority of the Comniissicftiers, ami of the Trustees, shall be competent to perform the duties required of them respectivelv. Sec. 4. And b:: it further enacted, That it shall be the duty of the Trustees <>( the School Districts, to collect by’ subscrip , tion, such sums as the citizens of the District may be w illing to ] subscribe, wliich shall be applied to supply an amount of mon ey, in addition to w hat may lie allowed by the State, so as to enable them to employ a suitable number of Teachers in the ■ District, provided there shall be no liability on the Trustees ; for said subscription money, (further than to transfer the said J ’ list of subscription to the Teachers w here such Schoo! may be ] ' taught. Sec. 5. And be it further enacted, That the Justices of the Inferior Court, in the several counties in this State, be, and they are hereby authorized, at their discretion, to levy an ex ! tra tax in theii respective comities, not exceeding fifty per cent. | on the general tax, which shall be added to the Common School 1 fund of said county, and paid over to the Commissioners afore ! said, by the Tax Collector, who shall give bond and security ! for the same, as in case of other bonds, for extra taxes. Sec. 6. And bl! it further enacted, That the Trustees of any I county academy be, and they are hereby authorized to pay over to the Commissioners of Common Schools, any funds in j ! their hands. Sec. 7. And b'it further enacted, That ;iis Excellency the ! Governor, within the mouth of January next, be required to | cause so much of the above recited act, as this act does not re peal, together with this act, to be published in the newspapers j | of this State ; and also, tocause the same to be published with | the acts ofthe present session. Sec. 8. And.be it further enacted by th ■ authority aforesaid, That the eighth, twentieth, twenty-first, and twenty-second ! sections, nnd so much ofthe ninth section as refers to the notice ! to be given by a Justice of the Peace and tree holder to the i Trustees of their election, and so much ofthe sixteenth section ! as refers to the balances in the hands of Trustees of Academies ! and their Tr asurers be, and the same is hereby repealed. JOSEPH DAY, Speaker of the House of Representatives. CHA RI .ES DOUG 11 ERT Y, President of the Semite. Assented to 29th December, 1838. GEORGE R. GILMER, Governor. OT;' ’Tho above two acts are authorized to be published ONCE mil v, and not throughout the mouth of January—as will be seen by S c. 7. j A n Act to regulate proceedings against bail in civil crises. Section I. He it enacted by the. Senate and House of R.ep j rescntatir"s of the Slate oj Georgia; in G neral Assembly uu t, \and. it is hen by enacted, by tdie authority of the same, Tiiat in I i all civil suits which may have hitherto been instituted, or whirl) ■ shall hereafter he commenced where bail has been or shnll here alier be required, and sai'l bail has been or shall liereafer be iveii, and pending the liability of said bail, he or she shall ' attempt to remove beyond the limits of the State or comity in Otrr Conscience—Our Conn try—onr Smarts/. which the same was required, it shall and may be lawful for the party at whose suit said bail was required, to attach the prop erty of said bail, to answer the suit of the said party : Prodd ed, houever, that said bail may discharge his property from said levy by delivering up the body of the principal, according to the laws of this State. Sec. 2. And be it further enacted, I hat all laws militating against this act, be, and the same are hereby repealed JOSEPH DAY, Speaker of the House of Representatives. CHARLES DOUGHERTY, President ofthe Senate. Assented to 29th December, 1838. GEORGE R. GILMER, Governor. To be published in the Milledgeville papers once. An Act to authorize the business of Banking, and to regu late the same. Section 1. Be it enacted by the Senate and House of \ Representatives of the State of Georgia, in General Assembly and it is hereby enacted by the authority of the same, That ■ the citizens of this State shall have the privilege of banking, from and after the passage of this act, upon the terms and con ditions contained in the following sections of this act. The Comptroller, together with two Commissioners, to be appointed as hereinafter directed, or a majority of them, are hereby au thorized and required tocause to be engraved and printed in the best manner, to guard against counterfeiting, such quantity of circulating notes, in the similitude of bank notes, in blank, of the different denomination, authorized by the incorporated banks of this State, as they may from time to time deem nec essary, to carry into effect the provisions of this act, and of such form as they may prescribe. Such Bank circulating notes shall be countersigned, numbered, and registered in proper hooks, to he provided and kept for that purpose, in the office of said Comptroller, under the direction of said Comptroller and said Commissioners, by such person or persons as they., or a majority of them, shall appoint for that purpose, so that each denomination of such circulating notes, shall all be of the same similitude, and bear the uniform signature of such register, or one of such registers. Sec. 2. And be it further enacted, That whenever'any per son or association of persons, formed for the purpose of bank ing tinder the provisions of this act, shall legally transfer to the 1 Comptroller and said Commissioners, or their successors in ! office, any portion of the public debt, now created or hereafter I to be created by the United States, or by this State, or such other States of the United States, as shall be approved by the ! said Comptroller and Commissioners, or a majority of them, such person or association of persons shall be entitled to receive from such Comptroller and Commissioners, an equal amount of such circulating notes, of different denominations, registered nnd countersigned as aforesaid; but such public debt sh ill in all cases be, or be made to be, equal to a stock of this State, I producing five per cent per annum ; nnd it shall not be lawful for said Comptroller and Commissioners, to take any stock at a rate above or below its par value. Sec. 3. And be it further enacted, That such person or as sociation of persons, are hereby authorized after having execu ted nnd signed such circulating notes, in the manner required by the provisions of this act, to make them obligatory promis sory notes, payable on demand, at the place of business, within this State, of such person or association, to loan and circulate the same as money, according to the ordinary course of banking business, as regulated by the law’s and usages of this State. Sec. 4. And be it further enacted, That in case the maker I or makers of any such circulating notes, conuntcrsigned and registered as aforesaid, shall at any time hereafter, on lawful demand during the usual hours of banking, between the hours ! of nine and two o’clock, at the place where such notes is pava ble, fol or refuse to redeem such notes, in gold and silver coin of the standard value of the United States, the holder of such notes making such demand, may cause the same to be protest ed for non-payment by a notary public, under his seal of office, in the usual manner, and the Comptroller and said Commis sioners, on receiving and filing in the office of such Comptrol ler, such protest, shall forthwith give notice in w’riting, to the maker or makers of such notes, to pay the same, and if he or they shall omit to do so, for sixty days after such notice, the said Comptroller and Commissioners, shall immediately there upon (unless they, or a majority of them, shall be satisfied that there is a good and legal defence against the payment of such note or notes) give notice in the papers printed in Milledge ville, that all the circulating notes issued by such person or as sociation of persons, will be redeemed out of the trust funds in their hands for that purpose; and it shall be lawful for said Comptroller nnd Commissioners to apply the said trust funds belonging to the maker or makers of such protested notes, to the payment and redemption thereof, with cost of protest, and to adopt such measures forthe payment of all eircul ting notes, put in circulation by the maker or makers of such protested notes, pursuant to the provisions of this act, as will, in their opinion, most effectually prevent loss to the holders thereof. Sec. 5. And be it further enacted, That the said Comptrol ler and Commissioners, may give to any person or association of persons, so transferring stock in pursuance ofthe provisions! of this act, powers of attorney to receive interest or dividends! thereon, which such person or association may receive and ap ply to their owm use; but such powers may be revoked upon such person or association of persons failing to redeem the cir culating notes so issued as aforesaid, or whenever, in the opin ion ofthe said Comptroller and Commissioners, the principal of such stock shall become an Insufficient security, and the said Comptroller and Commissioners, upon the application of the owner or owners of such transferred stock in trust, may, in their discretion, change or transfer the same for other stocks of the kind and value before specified in this act, or may re transfer the said stocks or any part thereof, or the bonds and mortgages, or any of them, hereafter mentioned and provided for, upon receiving and cancelling an equal amount of such circulating notes delivered by them, to such person or association of persons, in such manner that thecirculating notes shall always be secured in full, either by stocks or by bonds and mortgages, as in this act is provided. Sec. 6. An I be it further enacted, That the bills or notes, so to be countersigned, and the payment of which shall be so secured by the transfer of public stocks, shall be stamped upon their face ‘ Secured by the pledge of public stocks.” Sec. 7. And be it further enacted, That instead of transfer-! ring public stocks as aforesaid, to secure the w hole amount of such bills or notes, it shall be lawful for such person orassoei i- i tion of persons, in case they shall so elert before receiving am ' ofthe said bills or notes, to secure the pa vinent of the said bills or notes so to he issued, by transferring to the said Comptrol ler and Commissioners bondsand mortgages upon real estate bearing at least six per cent interest, and payable annually or ! semi-annually, in which case all such bills and notes issued by said person or association of persons, shall be stamped on their face “Seemed by pledges of real estate.” St,c. 8. And be it further enacted, That such bonds and mortgages shall be only upon unincumbered lands within this Slate, worth, independently of the buildings thereon, at least double the amount for which they shall be so mortgaged; and the Comptroller and Commissioners shall prescribe such regu lations for ascertaining the title and the value of such lands, as they may deem necessary; and sue h bonds and mortgages shall lie payable within such limes as the Comptroller and Commis sioners may direct. Sec. 9. And be it further enacted, That the said Comp troller and Commissioners may, in their discretion, resign the said bonds and mortgages, or any of them, to the person or as sociation of persons who transferred the same, on receiving other approved bonds ami mortgages, or other unquestionable security as allowed by the preceding sections of this act, of equal amount and value. St'.u. 10. And be i! J art hr enact /, 'That the person qr as sociation of persons, so assigning such bonds and mortgages us aforesaid, may receive the annual interest to accrue thereon, unless default shall be made in paying the bills or notes to be j countersigned as aforesaid, or unless, in tin: opinion of the Comptroller and Commissioners, the bonds and mortgages so pledged shall become insufficient security’ for the payment of such bills or notes. Sec. 11. And be it further enacted, That in case such per son or association of persons, shall fail or refuse to pay such bills or notes on demand, in the manner specified in the fourth sec tion el this act, the Comptroller and Commissioners, after the sixty days’ notice therein mentioned, may proceed to sell at public auction the public stocks so pledged, or the bonds and mortgages so assigned, or any, or cither of them: Provided, the amount so refused to be paid, be not paid by said associa tion within the sixty days, out of the proceeds of said sales, shall pay and caned the same bills or notes, default i.i paying which shall be made as aforesaid; but nothing in this act contained shall be considered as implying any pledge or liability on the part of this State, for the payment of the said bills or notes, be yond the proper application of the securities pledged to the i Comptroller and Commissioners for their redemption. i Sec. Yl. And be it further enacted, That the Comptroller ; and Commissioners shall be, and they are hereby authorized to receive from such person or association of persons, if they shall so elect, bonds, and mortgages for lands, town property, or negroes, before recovering any of the said bills or notes, so se cure, of fourfold value of such bills or notes: Provided never theless, that the said comptroller and cominisshmcrs shall be satisfied of the title :md value thereof: And. provided, also, that the said town or other property, if subject to u'nnintition or de struction by fire, shall be insured to the satisfaction of such comptroller and commissioners, or a majority of them : And provided further, that the negro property to be owned do not exceed one-half of the whole amount of such bills or notes ; and whenever the bills or notes so to be issued, and the payment of which shall be secured as contemplated in this section, said bills anil mites shall be stamped on the face “secured by the pledge of real and personal property;” which bonds, mortgages, and ne groes, shall be sold in like manner as property is sold under execution, and in the county where the owne r of owners there of reside, and by the sheriff of the county, by orders of the comptroller and commissioners. Sec. 13. And be it further enacted, That no stockholder or any officer of said Bank, shall borrow money from the" pledge of his stock, but shall give the same security as other borrowers of said bank, and such security shall not be either a.' director or stockholder in said institution. Sec. 14. And be it further enacted, That the public debt, stocks, bonds, ami mort ages, to be deposited with the comp troller and commissioners by any such person or association, shall be held by them exclusively for the redemption ofthe bills ' or notes of such person or association put in circulation as ! money, until the same are paid ; but the same shall be renewed every fi\ e year, if, in the opinion of the comptroller and commis- I sinners, or a majorit y of them, such renewal shall be required to ! strengthen such security by the addition or substitution ofoiher | property. Sec. 15. And b: it further'enaded, That the plates, dies, and materials, to be procured as aforesaid, for (lie printing, making, ami marking the circulating notes, provided for bv this act, shall remain in the custody, and under the control and direction of the comptroller and commissioners, and expenses necessarily incut red in executing the provisions of this act, shall be advanced by the association or associations applying for such notes. And the said comptroller and commissioners are hereby authorized and required to charge against and receive from such person or association applying for such circulating notes, such rate per eent thereon as may be sufficient for that ' purpose, and as maybe just and reasonable. S:-.-'. lb. And be it further enacted, That it shall not be law ful for the comptroller and commissioners, or other officers, to countersign bills or notes for any person or association of per sons, to an amount in the aggregate exceeding the security of fi red at its value as before provided for, and actually deposited w ill) the comptroller and commissioners, by such person or as sociation ; any comptroller, commissioner, or other officer who shall x iolate any of the provisoes of this act, shall, upon convic tion, be adjudged guilty of misdemeanor, and shall be pun- | ished by a fine not less than ten thousand dollars, and impris- J oned not less than five years in the Penitentiary. ■ t.( . 1 i. And be it 'furthcr enacted, That if any person or i association of persons shall be convicted of running off, or at- 1 tempting so lodo, any negro slave so mortgaged as aforesaid i or of selling or disposing of such mortgaged property, which '• may be removed out of this State, he or they shall be adjudg ed gulity of a felony, and shall be punished by confinemoit ?n the Penitentiary for a term not less than five, or morethan ten years, at the discretion ofthe Court. Se< . 18. And. oe it further enacted, That any person or nun.ber oi persons associate to establish offices of discount or deposite, and circulation, upon the terms and conditions, ■and subject to the liabilities prescribed by this act; but the aggregate amount of the capital stock of any such association shall not be less than one hundred thousand dollars. Such persons, under their hands and seals, shall make a certificate, wliich shall specify : I. The mime assumed to distinguish such association and to be used in its dealing: Provided, the name of any existing Bank, or any name previously selected by any association for med under this law’, he not assumed. 11. The place where the operations of discount and deposite of such association are to be carried on, designating the par ticular city, town, or village. 111. Ihe amount of the capital stock o! such association, an I the number of shares into which the same shall be divided. IV. The namesand places of residence of the shareholders, ! and the number of shares held by each of them respectively. V. The period at which such association shall commence and terminate. Which certificate shall be proved and acknowledged and re corded iti the office of the Clerk of the Superior Court where any office of such association shall be established, and a copy thereof filed in the office ofthe comptroller. Sec. 19. And be it further enacted, That the certificate re-| quired by the last preceding section to be recorded and filed as aforesaid, or a copy thereof duly certified from the record, shall ! he received in evidence in any Court in this State. Sec. 20. And be it further enacted, That such association! shall have power to cany on the business of banking by dis counting bills, notes ami other evidences of debt, by receiving i deposites, by buying and selling gold and silver bullion, foreign j coins ami bills of exchange, in the manner speified in their ar ticles of association for the purposes authorized by this act, by loaning money on real or personal security, and by exercising such incidental powers as shall be necessary to carry on such ! business; to choose one of their number as President of such i association, and to appoint a Cashier, officers and agents at I pleasure, and appoint others in their places. Sec. 21. And be it further enacted, That the shares of said association, shall be deemed personal property, and shall be transferable on the books of the association in such manner as may be agreed upon in the articles of association, and every person becoming a share-holder by such transfer, shall in pro portion to his shares, succeed to all the rights and liabilities of prior shareholders, and no change shall be made in the articles, of association by which the rights, remedies, or security of its exi ting creditors shall be weakened or impaired. Such asso ciation shall not be dissolved by the death or insanity of its shareholders th»rein. Sec. 22. And be it further enacted, That it shall be lawful lor any association of piusotis .organiz.ed under this act, by their articles of association, to provide for an increase of theii' capital, and ol the number of the associates from tiineto time, iis they may think proper. Sec. 23. And be it further enacted, That contracts made by any such association, and all notes and bills by them issued, and put in circulation as money, shall be signed by the Pres ident or Vice President and Cashier of such association thereof, and all suits ami actions brought, or prosecuted by, or in be half ol such association, may be brought or prosecuted in (!• mime of such association, and no suitor action shall abate by reason of the death of any officer, or member of such associa | tion; but upon suggestion of such fact, parties may be made I*. L. ROBINSON, PROPRIETOR. and the case proceed as if no such disability had intervened. Sec. 24. And be it further enact,“l, That all persons having demands against any such association may maintain actions against it in the name of such association in like manner ; and all judgments and d-crees obtained or rendered against such association, for any debt or liability of such association, shall be enforced against the joint property of such association until that shall have been exhausted, and when that shall have been exhausted, then against the property of the individual stock holders rateably. Sec. 25. A.nd be it further enacted, That no shareholder of any such association, shall be liable in his individual capa city for any contract, debt, or engagement, of such association, unless the articles of association by him signed, shall have de clared such liability, exceptas provided for. Sec. 2-3. And be it further enacted, That it shall be lawful for sue!) association to purchase, hold, and convey real estate, forth ■ following purposes : that is to shy, such as shall be ne <_ ’ss iry for its i;n, : diate accomnmdation in the convenient transaction of its business, or such as shall be mortgaged to it in good faith, byway of security for loans made by, or mo neys due to such association ; or such as shall be conveyed to it in satisfaction of debts previously contracted in the course of its dealings; or such as it shall purchase under judgments or mortgages held by such association. Sec. 27. Andbei! further enacted, That upon the applica tion of creditors or shareholders of any such association, whose debts or shares shall amount to five thousand dollars, and stating facts verified by affidavits, or if at any time the said comptroller and commissioners shall deem it necessary, either from facts resting within their own knowledge, or from information, supported by oath, upon the application of such comptroller and commissioners, the judge of the Superior Court of the District in which any such association shall be located, or be doing business, who shall in the exercise of chancery jurisdiction in chambers, upon a proper case made, order a strict examination to be made byiithcrof the said commissioners, or any other fit and proper person, of all the allairs of such association, for the purpose of ascertaining the safety ol its investments and the prudence of its management; and the result of every such examination, together with the opinion of such examiner and such judge thereon, shall be ipublished in such manner as the said judge shall direct; and ‘shall make such order in respect to the expenses of such exam ination and publication, as the principles of justice shall require. Sec. 28. And be it further enacted, That all mortgages executed under this act shall be recorded in the manner and lime now required by law in relation to other mortgages; and if upon real estate, shall also be recorded in the county where the mortgager resides, and if not so recorded, it shall not be received as security and shall be null and void. Sec. 29. Andbe it further enacted, That every such asso ciation shall, on the first .Mondays in April and October, in every year, after having commenced the business of banking, as prescribed by this act, make out and transmit to the comp troller and commissioners in the form to be prescribed by them, a full statement of the affairs of the association, verified by the oath of the President and Cashier, which statement shall contain : Ist. The amount of capital stock paid in, according to the provisions of this act, or secured to be paid. 2d. The value of the real estate of the association, specify ing what portion is occupied by the association, as necessary for the transaction of its business. 3d. The shares of the stock held by such association, whether absolutely or as collateral security, specifying each kind and description of stock, and the number and value of shares of each. - 4th. The amount of debts due to the association, specifying such as are due, from monied or other corporations or associ ations, and also specifying the amount secured by bonds and mortgages, or judgments, and the amount wliich ought to be included in the computation of losses. sth. I lie amount of debts due by such association, speci fying such as are payable on demand, and such as are due to moneyed or other corporations or associations. Gth. r l lie amount of claims against the association not ac knowledged by it ns debts. 7th. 1 he amount of notes, bills, or other evidences of debt, issued by such association. 8;h. Ihe amount of the losses of such association, specify ing whether charged on its capita! of profits, since its last preceding statement, and of its dividends declared and made during the same period. 9th. The average amount in each month during the pre ceding six months, of (he debts due to, and from the associa tion ; the average amount of specie, and designating how much gohl, how much silver, and how much silver possessed by the same during each month, and the amount of bills and notes issued by such association and put in circulation as mo ney, and outstanding against the association on the first day of each of the preceding six months. " 10th. The average amount in each month during the pre ceding six months, due to the association, from all the share holders in the association; also the greatest amount due to Ihe association, in each of tire preceding six months, from all the shareholders In such association. If th. Ihe amount of which the capital of said association has been increased during the preceding six months, if there shall have been any increase of said capital, and the names of any persons who may have become parties to the said articles of association, or may have withdrawn therefrom, since the last report. It shall be the duty of the comptroller and commissioners to consolidate the several spring reports so re quired to be made by this section, and to cause them to be published in a newspaper printed in the county where the place of business of such association is situated, if there be one, and in one or more papers printed at the seat of Govern ment ; and the October reports to be transmitted to his Excel lency the Governor, to be laid bi fore the General Assembly; the expense of such publication to be paid by such association. Sec. 30. And. be it further enacted, That if any such asso ciation shall neglect to make out and transmit the statement required in the last preceding section, for fifteen days beyond the period when the same is required to be made, or'shall violate nnv of the provisions of this act, such association may' be proceeded against and dissolved by the Court, in the same maimer ns any monied corporation may be proceded against am! dissolved. Sec. 31. Andbe it further enacted, That if any portion <f the original capital of any such association shall be withdraxvn for any purpose whatever, whilst any debts of the association remain unsatisfied, no dividends or profits on the shares on the capital stock of the association shall thereafter be made until the deficit of capital shall have been made good, cither by snpscription of the shareholders, or out of the subsequently accruing profits of the association ; anti if it shall appear that any such dividends had been made, it shall be the duty of the comptroller and commissioners to take the necessary measureiq by injunction or otherwise, for closing the afi’airs of the as*o-> ciation and distributing its property and effects among Its creditors. Sec. 32. And, be it further enacted, That such association shall be liable io pay to the holder of every bill or note put in circulation as money, the payment of which shall hate been demanded and refused, damages for non-payment in lieu of in terest, at and after the rate of eichfeen per cent, per annum, from the time of such refusal until the payment of such bill or note, ami the damages thereon. Sec. 33. Be it further enacted, That in all settlements between the chartered Banks and the associations contemplated by this act, said chartered banks shall receive in payment theii* own bills and bills ol their branches. Sec. 34. Andbe if further enacted, That the president and cashier of every such association, formed pursuant to the pro" visions of this act, shall at all limes kei p a true and correct list ofthe mimes of the shareholders of such and shall tile a copy of such li.-t in the olliee of the clerk of the Superior Court of the county where any office of such associ- WHOLE IYO. 200.