dient, branches of the said bank and offices of deposite and discount may be authorized by the said Directors or the majority of them, in any other part of this Province, under such rules and regulations as the said Directors or the major part of them may think proper, not repugnant to the general rule of the said Corporation, or the provisions of this Act, or to the Laws of this Province. XXVII. And be it further enacted, that each and every office of discount and deposit, established or hereafter to be established by the said Corporation and under the management or direction of a local board of Directors, shall be considered and held to be a Branch Bank, and subject to the restrictions as to the issuing and redemption of notes provided in this Act. XXVIII. And be it enacted, that if at any time after the passing of this Act, the said President, Directors and Company shall refuse, on demand being made at their Banking House, or at any branch established under this Act, or wherever such bills, notes or evidences of debt may be payable if made payable at any particular place, during the regular hours of doing business, to redeem in specie or other lawful money their said bills, notes or other evidences of debt issued by the said Company, the said President, Directors and Company shall, on pain of forfeiture of their charter, wholly discontinue and close their said banking operations, either by way of discount or otherwise, until such time as the President, Directors and Company shall resume the redemption of their bills, notes or other evidences of debt, in specie or money being a legal tender, at the rate at which it shall be offered by the said Corporation. XXIX. And be it enacted, that any such suspension of specie payments by the said Corporation, either at the chief place or seat of business in the said Town or village of St. Catherines, or at any Branch of the said Bank in this Province, for sixty days either consecutively or at intervals in any one year shall operate the forfeiture of the charter hereby granted, and of all the rights and privileges conferred on the said Corporation by this Act. XXX. And be it enacted, that it shall be the duty of the Directors or Cashier of the Bank, to allow, during the hours of business, the names of the Stockholders in the said Bank, with the amount of Stock respectively owned by them, to be taken by any Stockholder who may require the same. XXXI. And be it enacted, that it shall be the duty of the President or Vice President and Cashier of the said Bank for the time being, to make a return under oath to the Provincial Parliament once in each year, if required, either by the Legislative Council or Legislative Assembly; and they shall also, when required by the Bank. And to the Governor whenever re quired by him. the affairs of by the Governor of this Province, cause a half yearly return to the form of the Schedule A, shewing under the heads specified in the said form, the average of the amount of the notes of the Corporation in circulation and its other liabilities at the termination of each weck or month to which the statement refers, and the average amount of specie and other assets that were available to meet the same, and such returns shall be published in the Official Gazette of this Province, and in one newspaper in the District in which the Bank shall be established, and further that they shall at all times, when required by the Governor of this Province, for the time being, furnish him with a return; which shall contain a full and true ac Count of-The Capital Stock paid in-Bills in circulation of five dollars and upwards not bearing interest-Bills in circulation under five dollars not bearing interest-Bills and notes in circulation bearing interest-Balance due to other Banks-Cash deposited including all sums whatsoever due from the Bank not bearing interest-(its bills in circulation and balances due to other Banks excepted)-Cash deposited bearing interest-Total amount due from the Bank. -And of the Resources of the Bank-The Gold, Silver and other coined metals in the Banking House-Real Estate-Bills of other Banks-Balances due from other Banks-Amount of all debts due, including notes, bills of exchange, and all Stock and funded debts of every description, excepting the balances due from other banks-Total amount of the resources of the bank-Rate and amount of the last dividend-Amount of reserved profits at the time of declaring the last dividend-Amount of debts due to the bank and not paid, and considered doubtful. What such return show. Liabilities. Resources. shall The Directors shall require the indor sers on bill dis counted Stockholders, in the same manner as on ed for other those discount persons. Each Stockholder to be li able for the debts of the Bank twice XXXII. And be it enacted, that copies of the said half yearly statements shall be furnished to the Governor of this Province, and the said Corporation shall, if called upon by him, verify the same by the production as confidential documents of the weekly or monthly balance sheets from which they are compiled, and shall likewise on the requisition of the Lords Commissioners of Her Majesty's Treasury furnish in like manner such other information respecting its affairs as their Lordships shall see fit to call for. XXXIII. And be it enacted, that the Directors of the said Bank shall not, upon pain of forfeiture of their charter, loan or advance any money or bills of the said Bank to any Stockholder, upon the credit of the Stock, which such Stockholder may hold in the said Bank, but shall require from the said Stockholder endorsers in all respects as safe and substantial as would be required from any applicants for discounts, not being Stockholders. XXXIV. And whereas it is expedient to afford additional security to the public against the failure of Banks in this Province, by rendering the holders of Stock in such Banks personally liable to a certain extent beyond the amount of Stock subcribed; scribed-Be it therefore further enacted, that the Shareholders of the said Bank, the amount of shall be respectively liable for the engagements of the Company to the extent of twice the amount of their subscribed shares. XXXV. And be it enacted, that the sum for which such Stockholders shali be so liable beyond the amount of the original or first value of the Stock by them respectively held, shall be called in by instalments in the same manner as such Bank may have been authorized to call in Stock originally subscribed; and in case any Stockholder shall neglect, or refuse to pay the amount which may be so called, the Directors of the Bank shall be and they are hereby authorized to sue and prosecute in its corporate name, in any of the Courts of Law in this Province for such instalment: Provided always that such sum or sums of money which may be so called in, shall only be applied towards the payment of such debts or claims as may be outstanding against such Bank: And provided also, that nothing herein contained shall extend, or be construed to extend to authorize such Directors to call in or demand any sum from the Stockholders, over and above a sum sufficient to discharge such debts and claims ae may be outstanding, as aforesaid. Amount of discoun paper XXXVI. And be it enacted, that the amount of paper discounted, on which the names of Directors or Officers of the Bank shall appear as drawers, acceptors or ted for Direcendorsers, shall not exceed one third part of the whole discounts of the Bank. XXXVII. And be it enacted, that it shall not be lawful for the Corporation hereby constituted at any time whatever, directly or indirectly, to advance or lend to or for the use of, or account of any foreign Prince, Power or State, any sum or sums of money or any securities for money, and if such unlawful advance or loan be made, then and from thenceforth the said Corporation shall be dissolved, and all the powers, authorities, rights, privileges and advantages hereby granted, shall cease and determine, anything in this Act to the contrary notwithstanding. XXXVIII. And be it enacted, that in case of the failure or insolvency of the said Bank; or in case the Stockholders shall neglect or refuse to appoint Directors within three months after the time when by law the same should be appointed, or if such Directors shall neglect or refuse to call in the several sums for which the Stockholders are so liable, as aforesaid, in the manner aforesaid, it shall and may be lawful for the Governor of this Province to name and appoint five Commissioners to manage the affairs of the said Bank, who shall have and exercise all the power of Directors in the settlement of the affairs of the said Bank, but shall not be authorized to carry on business of Banking, except the calling in so much of the several sums for which the respective Stockholders may be liable, as shall tors or Officers of the Bank limited.. In case of failure orinsol Bank, or if the vency of the Stockholders shall neglect to tors, the Governor may appoint Commissioners to manage its affairs appoint Lirec for certain pur poses only. the Bank. And to the Governor whenever re quired by him. the affairs of by the Governor of this Province, cause a half yearly return to the form of the Schedule A, shewing under the heads specified in the said form, the average of the amount of the notes of the Corporation in circulation and its other liabilities at the termination of each weck or month to which the statement refers, and the average amount of specie and other assets that were available to meet the same, and such returns shall be published in the Official Gazette of this Province, and in one newspaper in the District in which the Bank shall be established, and further that they shall at all times, when required by the Governor of this Province, for the time being, furnish him with a return; which shall contain a full and true acCount of-The Capital Stock paid in-Bills in circulation of five dollars and upwards not bearing interest-Bills in circulation under five dollars not bearing interest-Bills and notes in circulation bearing interest-Balance due to other Banks-Cash deposited including all sums whatsoever due from the Bank not bearing interest-(its bills in circulation and balances due to other Banks excepted)-Cash deposited bearing interest-Total amount due from the Bank. -And of the Resources of the Bank-The Gold, Silver and other coined metals in the Banking House-Real Estate-Bills of other Banks-Balances due from other Banks-Amount of all debts due, including notes, bills of exchange, and all Stock and funded debts of every description, excepting the balances due from other banks-Total amount of the resources of the bank-Rate and amount of the last dividend-Amount of reserved profits at the time of declaring the last dividend-Amount of debts due to the bank and not paid, and considered doubtful. What such return show. Liabilities. Resources. shall XXXII. And be it enacted, that copies of the said half yearly statements shall be furnished to the Governor of this Province, and the said Corporation shall, if called upon by him, verify the same by the production as confidential documents of the weekly or monthly balance slicets from which they are compiled, and shall likewise on the requisition of the Lords Commissioners of Her Majesty's Treasury furnish in like manner such other information respecting its affairs as their Lordships shall see fit to call for. XXXIII. And be it enacted, that the Directors of the said Bank shall not, upon pain of forfeiture of their charter, loan or advance any money or bills of the said Bank to any Stockholder, upon the credit of the Stock, which such Stockholder may hold in the said Bank, but shall require from the said Stockholder endorsers in all respects as safe and substantial as would be required from any applicants for discounts, not being Stockholders. XXXIV. And whereas it is expedient to afford additional security to the public against the failure of Banks in this Province, by rendering the holders of Stock in such Banks personally liable to a certain extent beyond the amount of Stock subcribed; scribed ;-Be it therefore further enacted, that the Shareholders of the said Bank, the amount of shall be respectively liable for the engagements of the Company to the extent of his stock. twice the amount of their subscribed shares. XXXV. And be it enacted, that the sum for which such Stockholders shali be so liable beyond the amount of the original or first value of the Stock by them respectively held, shall be called in by instalments in the same manner as such Bank may have been authorized to call in Stock originally subscribed; and in case any Stockholder shall neglect, or refuse to pay the amount which may be so called, the Directors of the Bank shall be and they are hereby authorized to sue and prosecute in its corporate name, in any of the Courts of Law in this Province for such instalment: Provided always that such sum or sums of money which may be so called in, shall only be applied towards the payment of such debts or claims as may be outstanding against such Bank: And provided also, that nothing herein contained shall extend, or be construed to extend to authorize such Directors to call in or demand any sum from the Stockholders, over and above a sum sufficient to discharge such debts and claims ae may be outstandiug, as aforesaid. XXXVI. And be it enacted, that the amount of paper discounted, on which the names of Directors or Officers of the Bank shall appear as drawers, acceptors or endorsers, shall not exceed one third part of the whole discounts of the Bank. XXXVII. And be it enacted, that it shall not be lawful for the Corporation hereby constituted at any time whatever, directly or indirectly, to advance or lend to or for the use of, or account of any foreign Prince, Power or State, any sum or sums of money or any securities for money, and if such unlawful advance or loan be made, then and from thenceforth the said Corporation shall be dissolved, and all the powers, authorities, rights, privileges and advantages hereby granted, shall cease and determine, anything in this Act to the contrary notwithstanding. XXXVIII. And be it enacted, that in case of the failure or insolvency of the said Bank; or in case the Stockholders shall neglect or refuse to appoint Directors within three months after the time when by law the same should be appointed, or if such Directors shall neglect or refuse to call in the several sums for which the Stockholders are so liable, as aforesaid, in the manner aforesaid, it shall and may be lawful for the Governor of this Province to name and appoint five Commissioners to manage the affairs of the said Bank, who shall have and exercise all the power of Directors in the settlement of the affairs of the said Bank, but shall not be authorized to carry on business of Banking, except the calling in so much of the several sums for which the respective Stockholders may be liable, as shall |