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![handle is hein.slavery/ssactsal0570 and id is 1 raw text is: Upon raiure to shall refuse or fail to redcem in gold, or silver, ainy of
redvem, the pro- its issues authorized under this act, it shall be the duty
covdings. of the Comptroller to prosecute said bank for such do-
fhiult in the circuit court of NMobile county, and on con-
viction thereof, he shall sell the said bonds, or at sufli-
calt aIpount of them, to cover such dothlcation, at
public auction, after thirty days note by publication
in onc or more news papers in Mobile, and shall apply
the m1oney received for aid sales, to the paymont of
said issues, and all necessary expenses, and cost, return-
ing to the bank the surplus, if any, arising from said
sale.
nenedy ir mo SEc. 5. Be it farther enacted, That if the proceeds of
stockor bonds stock, or londs, sold under the provisions of this act,
shall be insufficient to pay the bills, payment of which
shall not have been made on the sale of the-stock as
aforesaid, then the holder of such notes or bills may
sae said Savings Bank, and recover the balance due, in
the same manner n any other debt that they may owe,
'rovuo. * and which remains unpaid: Provided, however, that
the holder of any note or bill, the payment of which
Suo directly. has been refused, 1tay sue said bank, directly, without
any proceeding to sell said stock, if such holder shall
Mel.i first pur- see proper: Provided, however, that before said 'avings
cinseg *Ogo of Bank shall take any benefit, or privilege under the pro-
Par. visions of this act, it shall purchase from the Governor
fifty thousand dollars of the bonds of this State at par,
and shall be under obligations to make annual returns
Annual raturn.' of' its condition, and the iames of its stockholders to
And iuxes. the Governor; and shall pay the same rate of' taxes to
the State as is required by the existing law to be paid
by the Bank of Selna.
Approved, December 9, 1801.
No. 132.] AN ACT
To Incorporate the East Alabama Insurance Company.
SEC. 1. Be it enacted by the Senate and House of Rep-
resentatives of the State of Alabama in General Assembly
con-ned, That Wni. 11. Chambers, E. B. Young, John.
Body corporate. MtNab, Junius Jordan, Eli S. Shorter, Edward S. Ott,
William I. Thornton and William Abney, and their
1861.
130](ViewImageLocal?handle=hein.slavery/ssactsal0570&div=1&collection=&method=preview&ext=.png&size=3)