1840. General. III. The President or Cashier of each Bank in this State shall, within the first six days of every month, make a return, Monthly Re- on oath, of the state of such Bank, as it existed at the opening turns to Comp. of the books on the first day of the then month, and shall transmit the same, within the two next days, to the Comptroller General; which officer shall collate the various statements, so as to present a comparative view of all the items thereof, and shall publish the same in some public newspaper, for general information. The said return shall specify the particulars set forth in the several columns embraced in the following schedule, and shall be made out in the following form, viz: Schedule. Debts. Resources. Forfeiture for non-compli ance. Capital stock. SCHEDULE. DEBTS DUE BY THE BANK. Bills in circulation. Nett profits on hand. Balance due to Banks in this State. Balance due to Banks in other States. All other monies due which bear interest. Cash deposited, and all other monies due, exclusive of bills in circulation, profits on hand, balance due other Banks, and money bearing interest. Bonds. Money invested in stock. Suspended debt, and debt in suit. Money invested in every other way than is specified in the foregoing particulars. Total resources of the Bank. Rate and amount of the last dividend. Amount of reserved profits at the date of the last dividend. IV. Every Bank whose officers neglect to comply with the provisions embraced in the third section of this Act, shall forfeit, to the use of the State, to be recovered by the Comptroller General, one hundred dollars for each and every day's neglect; to be recovered, by action of debt, in any court of competent jurisdiction. V. It shall be the duty of the Comptroller General to take 1840. all requisite means for collecting the amounts of money required to be paid to the State under the provisions of the second Powers and section of this Act: he shall have power to examine the books duties of Comptroller of each Bank, for the purpose of ascertaining the true amount General and of its notes in circulation; and any officer of a Bank who shall Bank officers. refuse to submit the proper books of the Bank to the Comptroller General, for the purpose aforesaid, shall be deemed guilty of a misdemeanor, and, upon due conviction, shall be subject to fine and imprisonment, at the discretion of any court of competent jurisdiction. VI. The Governor shall furnish each Bank within the State The Governor with a copy of this Act, immediately after its ratification, with to furnish each a notice, requiring its acceptance of its provisions, as herein is Bank with directed. this Act, &c. Liability for VII. Every Bank in this State which has heretofore suspended the payment of its notes in legal coin, or which has de- non-compliclared its determination to refuse or suspend such payment, ance. shall, on or before the first day of March next, notify the Governor of its acceptance of the provisions of this Act; and in case any such Bank shall neglect to give such notice, the Governor shall forthwith cause legal proceedings to be instituted by the Attorney General or Solicitors against such delinquent Bank, for the purpose of vacating and declaring void its char ter. AN ACT TO MAKE FURTHER PROVISIONS IN RELATION TO A, A. 1840, p. THE FIRE LOAN IN CHARLESTON, 130. S. L. vol. 11, p. 130. I. Be it enacted, by the Senate and House of Representatives, now met and sitting in General Assembly, That the time during which applications may be made for Loans, under the provisions of the Act for Rebuilding the City of Charleston, be extended to the first day of June, in the year of our Lord one Proviso. thousand eight hundred and forty-two: Provided, that the City Council of Charleston shall by law extend the guarantee of the City to applications which may be made during such extension of time. II. Transfers of the stock issued in virtue of the said Act, and the new certificates requisite upon such transfer, shall be made by the same officers, and in the same manner, as for other State stocks; but the certificate shall, upon its face, exhibit that such stock has been issued under the provisions of the said Act. Transfers of stock. Interest to be III. That interest upon the said stock shall be paid at the State Treasury, in the same manner as upon other State paid at the stocks; but each check drawn for the interest shall exhibit State Treasuthat it is drawn on account of the stock issued under the said 1y. 1841. Act; and such interest shall be paid by the Bank of the State from the avails of the Loan authorized by the said Act, and be charged accordingly. A. A. 1841. p. 108. S. L. vol. 11. p. 108. FROM "AN ACT TO INCORPORATE CERTAIN VILLAGES, SOCIE- XLI. Be it further enacted, That it shall become part of the Corporations charter of every corporation, which shall at the present, or any declared sub- succeeding session of the General Assembly, receive a grant ject to Legislative authority, of a charter, or any renewal, amendment or modification thererepeal, &c. 'of, (unless the Act granting such charter, renewal, amendment or modificatlon, shall in express terms except it,) that every charter of incorporation granted, renewed, or modified, as aforesaid, shall at all times remain subject to amendment, alteration or repeal, by the Legislative authority. A. A. 1842, p. FROM "AN ACT TO MAKE APPROPRIATIONS FOR THE YEAR 217. ance in the COMMENCING IN OCTOBER, 1842." XI. That after reserving the sum of ten thousand dollars, the Comptroller General is directed to apply any balance of monies in the Treasury, to the purchase and extinguishment of the Public debt of the State, giving preference, in each purchase, to the debt the interest of which is paid from the Public Treasury. A. A. 1842, p. AN ACT TO AMEND AN ACT ENTITLED "AN ACT FOR RE234. S. L. vol. 11, p. 234. BUILDING THE CITY OF CHARLESTON," AND TO ALTER AND I. Be it enacted, by the Senate and House of Representatives, now met and sitting in General Assembly, and by the authority of the same, That, if the assent and guaranty of the City Council of Charleston be previously given and expressed, as hereinafter provided, the time and terms for re-payment of loans made by the President and Directors of the Bank of the State of South Carolina, pursuant to the provisions of an Act of the General Assembly of this State, entitled "An Act for rebuilding the City of Charleston," ratified on the first day of June, in the year of our Lord one thousand eight hundred and thirty-eight, and of another Act, entitled "An Act to amend an Act for rebuilding the City of Charleston," ratified on the nineteenth day of December in the same year, be altered and extended to the periods and for and upon the terms and conditions following, that is to say: 1842. 1. In each and every of the said loans, upon which the annual interest, insurance, taxes and other incidental expenses Extension of have been or shall be fully paid, the time for the payment of time, instalthe first instalment of the principal sum of the said loan shall ments, &c. be extended to two years from and after the time limited and specified for the payment thereof, by the condition of the bond entered into to secure the said loan, conformably to the provisions of the Acts of Assembly aforesaid; and not more than five per centum of the principal sum of the said loan shall be required to be paid for the first instalment thereof; and the residue of the principal sum of the said debt shall be paid by annual instalments of seven per centum of the whole amount of the said loan, to be paid at the expiration of the first year from and after the time herein and hereby limited and appointed for payment of the first instalment; ten per centum thereof to be paid at the expiration of the second year; twelve per centum thereof to be paid at the expiration of the third year; fifteen per centum thereof to be paid at the expiration successively of the fourth and fifth years. and eighteen. per centum thereof to be paid at the expiration of every successive year thereafter, until the whole debt be fully paid. And the annual interest of each and every of the said loans, or so insurance to much thereof as may from time to time remain unpaid, and also be paid as the premium of insurance, in all cases where the property mort- heretofore pregaged to secure payment of the said loan is required by the Acts of Assembly aforesaid to be insured, and all incidental expenses, shall be fully and regularly paid according to the provisions of the said Acts, and the condition of the bond entered into to secure payment of such loan, without any extension of time or indulgence whatever. Interest and scribed. 2. No borrower, or his legal representatives or assignees, shall Notice to be be entitled to the benefit of this Act, until he or they shall given by borhave given notice in writing to the President and Directors of rowers. the Bank of the State of South Carolina, that he or they claim the benefit thereof, and assent to and accept all the terms and conditions thereto annexed, which assent shall be endorsed on the Bond and Mortgage of the said parties; nor shall any bor- Indulgencenot rower of any loan or loans, under the provisions of the Acts of to be granted Assembly aforesaid, or his legal representatives, be entitled to when the proany indulgence or extension of time for any unpaid residue of perty has been the said loan or loans, where the property mortgaged to secure sold. 1842. defaulters to be sold. Purchaser to complain to two Magistrates when possession is withheld. payment of the same has been actually sold for foreclosure of such mortgage, pursuant to the provisions of the Acts of Assembly aforesaid, and the debt has not been extinguished by such sale. 3. Whenever default shall be made in the payment of any of Property of the instalments of the principal sum of any of the said loans, or of the annual interest, premium of insurance, taxes or incidental expenses aforesaid, at the times respectively limited and appointed by this Act, it shall be the duty of the President and Directors of the Bank of the State of South Carolina to cause the property mortgaged to secure, the payment of any such loan, to be sold for satisfaction of the entire debt, in the manner directed and provided by the Acts of Assembly aforesaid; and if after any such sale made, and a conveyance to the purchaser executed, possession of the premises so sold shall be withheld from the purchaser by the borrower, or his legal representatives or assignees, or by any other person or persons whatsoever, it shall and may be lawful for the said purchaser, his legal representatives or assigns, to complain thereof to two Magistrates of the City of Charleston, whereupon it shall be the duty of the said Magistrates to issue their warrant for summoning a Jury of Freeholders, to inquire whether the person or persons so withholding possession of the said premises, hold the same as agent or agents of the said borrower, his legal representatives or assigns, or for his or their use, or if not, then at what time such person or persons entered into possession of the said premises; and Magistrates to such proceedings shall be had upon the said complaint, by the proceed as in said Magistrates and Freeholders, and the Jury of Freeholders shall be summoned and organized,in such manner as is provided in cases of tenants holding over after the expiration of their leases, by an Act of the General Assembly of the State, entitled "An Act to afford landlords or lessors an expeditious and summary mode of gaining re-possession from tenants or lessees, who shall hold over after the determination of their leases," ratified on the nineteenth day of December, in the year of our Lord, one thousand eight hundred and twelve, and by an Act to amend the said last mentioned Act, ratified on the eighteenth day of December, in the year of our Lord one thousand eight hundred Magistrates to make record, and seventeen; and if it shall appear to the said Magistrates and issue war- and Freeholders, that the person or persons so withholding rant to Sheriff. possession of the said premises, do actually hold the same as agent or agents of the said borrower, or his legal representatives or assigns, or for his or their use, or that such person or persons entered into possession of the said premises after the ratification of this Act, the said Magistrates shall make a record thereof, and give judgment for the party making the complaint, and shall issue their warrant to the Sheriff of Charleston DisDuty of Sher-trict, whose duty it shall be to execute the same, commanding him to put the party for whom judgment has been given as aforesaid, into full possession of the said premises, and to levy the expenses incurred by the investigation of the said complaint, of the goods and chattels of the person or persons so cases of Tenants holding over. iff. |