Banking, ancient and modern ..together with full instructions as to the business methods of the Treasury Department at Washington, . llows:The capital was to be$400,000 in shares ofS400 each ; each share tohave one vote for direc-tors; the directors to betwelve in number, chosenfrom the stockholders,who at their first meetingwere to choose a presi-dent from themselves;the directors to meetquarterly; the board tobe empowered from timeto time to open new sub-scriptions for the increaseof the capital stock; regular statements of its condition to be made to thecontinental superintendent of f
Banking, ancient and modern ..together with full instructions as to the business methods of the Treasury Department at Washington, . llows:The capital was to be$400,000 in shares ofS400 each ; each share tohave one vote for direc-tors; the directors to betwelve in number, chosenfrom the stockholders,who at their first meetingwere to choose a presi-dent from themselves;the directors to meetquarterly; the board tobe empowered from timeto time to open new sub-scriptions for the increaseof the capital stock; regular statements of its condition to be made to thecontinental superintendent of finance, and it to be at all times subject tohis examination; the notes of the bank to be j)ayable on demand over itscounter and to be made by law receivable for taxes and duties in everyState, and from the several States by the treasury of the United May 26 Congress adopted a resolution approving this plan, promisingto promote and support the same by such ways and means, from time totime, as should appear necessary for the institution and consistent withthe public good, and providing that the subscribers to said bank shall. JOHN W. ZOLLARS. President Sierra County Bank, Hillsborough, New Mexico. Vice-President First National Bank, Las Vegas, New Mexico. 54 be incorporated agreeabhto the principles and terms of the plan, underthe name of The President, Directors and Company of the Bank of NorthAmerica, so soon as the subscription shall be filled, the directors andpresident chosen, and application for that purpose made to Congress bythe president and directors elected. On December 31, following. Con-gress passed an ordinance to incorporate the subscribers to the Bank ofNorth America. The first president was Thomas Willing. The bank-opened for business at Philadelphia on January 7, 1782. Its success wasimmediate and complete. Its issues which at first circulated in the east-ern States only, at a discount of ten to fifteen per cent, speedily rose topar and were sustained
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Keywords: ., bookcentury1800, bookde, booksubjectbanksandbanking, bookyear1895
