ROYAL GAZETTE. 
     
    
   
   
    
       
     
    
   
   
    
     or Bank Note shall be issued or put in circulation, 
     
     nor any bill or note be discounted at the Bank afore- 
     
     said, until the said sum of one thousand pounds shall 
     
     be actually paid in and received on account of the 
     
     subscriptions to the Capital Stock of the said Bank. 
     
    
   
   
    
     XVI. As soon as the sum of one thousand pounds 
     
     shall have been paid in current gold and silver coins, 
     
     and shall be in the vaults of the said Bank, the 
     
     President shall give notice thereof, to the Colonial 
     
     Secretary of this Island, for the information of Ilis 
     
     Excellency the Lieutenant Governor, or Adminis- 
     
     trator ofthe Govvrmnent, for the time being, who is 
     
     hereby authorized, by and with the advice of Her 
     
     Majesty’s Executive Council, to appoint three Com- 
     
     missioners, not being stockholders, whose duty it 
     
     shall be to examine and count the money actually 
     
     in the vaults, and to ascertain, by the oaths ofthe 
     
     majority ofthe Directors, that one third the amount 
     
     ofthe Capital hath been paid in by the stockholders 
     
     towards payment of their respective shares, and not 
     
     for any other purpose, and that it is intended to have 
     
     it there remain as part of the capital stock of the 
     
     said Bank, which investigation is hereby declared 
     
     indispensable, and shall be made at the periods pre- 
     
     scribed by the second section ofthis Act, when pay- 
     
     ing in the capital stock ofthe said Bank. 
     
    
   
   
    
     XVII. The shares or capital stock shall be as- 
     
     signable or transferable, according to the rules and 
     
     regulations that may be established in that behalf; 
     
     but no assignment or transfer shall be valid or effi- 
     
     cient, unless such assignment or transfer shall be 
     
     entered and registered in a Book to be kept by the 
     
     Directors for that purpose ; nor until such person or 
     
     persons, so making the same, shall previously dis- 
     
     charge all debts actually due, and payable to the 
     
     said Corporation; in no case shall any fractional part 
     
     ofa share, or other than a complete share or shares, 
     
     be assignable or transferable; and whenever any 
     
     stockholder shall transfer in manner aforesaid, all 
     
     his stock or shares in the said Bank, to any other 
     
     person or persons whatever, such stockholder shall. 
     
     cease to be a member ofthe said Corporation. 
     
    
   
   
    
     XVIII. The said Company shall not, directly or 
     
     indirectly, deal in anything, excepting Bills of Ex- 
     
     change, Gold or Silver Bullion, or in the sale of 
     
     goods really and truly pledged, for money lent and 
     
     not redeemed in good time, or in the sale of stock 
     
     pledged for money lent and not so redeemed, which 
     
     said goods and stock, so pledged, shall be sold by 
     
     the said Corporation at public sale, at any time not 
     
     less than thirty days after the period of redemption; 
     
     and if upon such sale of goods or stock there shall 
     
     be a surplus, after deducting the money lent, toge- 
     
     ther with the expenses ofsale, such surplus shall be 
     
     paid to the Proprietors thereof respectively. 
     
    
   
   
    
     XIX. The holders of the stock of the said Bank, 
     
     shall be chargeable in their private and individual 
     
     capacrties, and shall be holden for the payment and 
     
     redemption of all bills which may have been issued 
     
     by the said Corporation; and, also, for the payment 
     
     ofall debts at any time due from the said Corpora- 
     
     tion, and in proportion to the stock they respectively 
     
     held: Provided, however, that in no case shall any 
     
     one stockholder be liable to pay a sum exceeding 
     
     twice the amount of stock then actually held by him 
     
     over and above and in addition to the amount of 
     
    
   
   
    
       
     
    
   
   
    
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     stock actually by him paid into the Batik: Pro- 
     
     vided, nevertheless, that nothing in this Act contain- 
     
     ed shall be construed to exempt the joint stock of 
     
     the said Corporation, from being also liable for and 
     
     chargeable with the debts and engagements of the 
     
     same. 
     
    
   
   
    
     XX. Every Bond, lank Bill, or Bank Note, or 
     
     other instrument, by the terms or effect of which the 
     
     said Coporation may be charged or held liable for 
     
     the payment of money, shall especially declare in 
     
     such form as the Board of Directors shall prescribe. 
     
     that payment shall be made out ofthe joint tunds of 
     
     the said Corporation : Provided nevertheless, that 
     
     nothing herein contained shall be construed to alter, 
     
     change or diminish the responsibilities and liabilities 
     
     imposed on stockholders in their individual capaci— 
     
     ties, by the nineteenth section ofthis Act. 
     
    
   
   
    
     XXI. The total amount of debts (deposits ex— 
     
     cepted) which the said Corporation shall, at any 
     
     time, owe, whether by Bond, Bill, or Note, or any 
     
     contract whatsoever, shall not exceed three times 
     
     the amount of the Capital Stock actually paid in 
     
     by the stockholders; and, in case of any excess, the 
     
     Directors, under whose administration and manage- 
     
     ment the same shall happen, shall be liable for such 
     
     excess in their individual and private capacities: 
     
     Provided always, that the lands, tenements, goods 
     
     and chattels of the said Corporation shall also be 
     
     liable for such excess. 
     
    
   
   
    
     XXII. The Directors shall make halfyearly divi- 
     
     dends of all profits, rents, premiums and interests, 
     
     of the said Corporation, payable at such time and 
     
     place as the Directors shall appoint, of which they 
     
     shall give thirty days notice in the Royal Gazette 
     
     newspaper published in this Island. 
     
    
   
   
    
     XXIII. The books, papers, correspondence and 
     
     funds ofthe said Corporation, shall, at all times, be 
     
     subject to the inspection of the Directors; but no 
     
     stockholder, not a director, shall inspect the account 
     
     of any individual With the said Corporation. 
     
    
   
   
    
     XXIV. All bills or notes, issued by the said Cor- 
     
     poration, shall be signed by the President, for the 
     
     time being, and countersigned and attested by the 
     
     Cashier, and shall be printed and made on steel 
     
     plates; and all bills and notes so signed and counter- 
     
     signed,shall be binding on the said Corporation, and 
     
     payable in specie at the said Bank: Provided that 
     
     ne'notes shall be issued by the said Corporation for 
     
     a less sum than five shillings. 
     
    
   
   
    
     XXV. The said Corporation shall be liable to pay 
     
     to any bonafidc holder, the original amount of any 
     
     Note ofthe said Bank, which shall have been couno 
     
     terfeited or altered, in course of its circulation, to a 
     
     larger amount notwithstanding such alteration. 
     
    
   
   
    
     XXVI. The said Bank shall be kept and estab- 
     
     lished at Souris, or at such other place, as the Board 
     
     of Directors may think it necessary to remove the 
     
     said Bank to on account of any great emergency for 
     
     the security thereof. 
     
    
   
   
    
     XXVII. The Directors shall, at the general meet- 
     
     ing to be held on the second Thursday in January, 
     
     in every year, lay before the stockholders for their 
     
     information an exact and particular statement ofthe 
     
     amount of debts due to and by the said Corporation; 
     
     the amount of Bank Notes then in circulation; the 
     
     amount of Gold and Silver in hand; the amount of