1842. withholding possession as aforesaid, any law, usage or custom to the contrary thereof, in any wise notwithstanding; but if it shall appear to the said Magistrates and Freeholders that Decision on there is no sufficient ground for the said complaint, the same insufficient shall be dismissed, and the party making such complaint shall grounds of complaint. be condemned for the expenses aforesaid, to be levied by warrant as aforesaid, of the goods and chattels of such party: Proviso. Provided, always, that the judgment aforesaid shall conclude only the right to present possession, and shall not affect the title of either party to the said premises, or deprive either party of any remedy in Law or in Equity for establishing a title to, or recovering possession of, the said premises. made on the instalments II. That whenever any property mortgaged to secure payment of any loan made pursuant to the provisions of the Acts Sales to be of Assembly herein before first mentioned, shall be sold for same credits, foreclosure of such mortgage, such sale shall not be made for &c. that were cash, but for such portion of the price for which the same given to the may be sold, as may then be actually due on the said loan, to borrower, after be paid in cash, and for such credit, as to the residue, as the payment of debtor would have been entitled unto for the residue of the due. debt, if the part thereof then due had been actually paid; and the said residue of the purchase money shall be secured by the Bond of the purchaser, with one or more good and sufficient sureties, to be approved by three Commissioners to be appointed by the President and Directors of the Bank of the Residue of State of South Carolina and the City Council of Charleston, purchase moand a Mortgage of the property; which said Bond and Mort-ney, how segage shall contain such and the same conditions, covenants cured. and provisions as are contained in the Bond and Mortgage of the original borrower, and are provided by the Acts of Assembly first aforesaid, and by this Act. III. That no part of this Act shall be of any force or effect until the City Council of Charleston shall, by an Ordinance No part of duly ratified by the City Authorities, assent to the terms and this Act to be conditions of this Act, and to the indulgence herein proposed of force till the to be granted to the Debtors aforesaid, and shall guaranty the City Council State against all loss and losses to arise from any of the Loans shall guaranafosesaid, or the extension of the time and alteration of the ty the State against any terms for the payment thereof, or the credit allowed on sales loss. of property mortgaged to the same, provided for by this Act. AN ACT TO PROVIDE FOR THE PAYMENT OF A PORTION OF THE A. A. 1843. PUBLIC DEBT. 11 Statutes, 260. to deliver cer Be it enacted, by the Senate and House of Representatives, Bank of State now met and sitting in General Assembly, and by the authority of the same, That the President and Directors of the tain bonds, &c. Bank of the State of South Carolina shall, agreeably to their proposition to that effect, contained in their annual report, deliver up to the Comptroller General, to be cancelled, all the 1843. Authorized to deliver also any bonds evidences of Public Debt of this State, now in their possession in Charleston, and that the said Comptroller General forthwith cause the same to be cancelled. II. The said President and Directors are authorized and empowered to deliver up to the said Comptroller General, to be cancelled, any certificates or evidences of Public Debt of this hereafter pur-State which they may hereafter purchase or procure. chased. III. The Comptroller General shall transfer to the Sinking Fund, the balance of two hundred thousand dollars, now stanComp. Gen. to transfer $200,- ding on deposit in the said Bank, to the credit of the Surplus 000 on deposit Revenue received from the United States, upon condition that to the Sinking the President and Directors of the said Bank shall be bound Fund, &c. to fulfil the obligations contained in the following section. IV. The said President and Directors of the Bank of the The Bank to State shall pay and discharge the principal and interest, as pay the debt of the same shall become due and payable, of the debt of three $300,000 (and interest) crea- hundred thousand dollars, issued in virtue of the Act of the ted in 1826. General Assembly, ratified in the year one thousand eight hundred and twenty-six. R. R. B'k how appropriated. The Dividends accruing from the Stock owned by the State Dividends on in the South-Western Rail Road Bank, shall hereafter be restock of S. W.ceived by the President and Directors of the Bank of the State, and shall be applied towards payment of the interest hereafter accruing on that portion of the Public Debt created for subscription to the capital of said Rail-Road Bank; and whenever such Dividends shall exceed 'the said interest, the excess shall be applied in reduction of the principal; and whenever the said debt shall be finally extinguished, the said Dividends shall be paid into the Public Treasury by the said Rail-Road Bank. A. A. 1843. AN ACT TO RESTORE TO EACH BRANCH OF THE LEGISLATURE, 11 Statutes, THE RIGHT OF ENQUIRING INTO THE FINANCES OF THE STATE. 261. Authority to call for inforBank of the mation from State, and requisition to furnish it, &c. 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 either Branch of the Legislature shall hereafter have full power and authority to call for any information which they may deem necessary, from the Bank of the State of South Carolina, or the Branches thereof; and the said Bank and Branches are hereby required to furnish any information called for by either branch of the Legislature. II. Nothing in this Act contained shall imply a right to inExceptions. spect the account of any private individual, body politic or corporate, with the Bank. AN ACT TO AMEND AN ACT TO PROVIDE AGAINST THE SUS- 1843. 11 Statutes, 259. Application of I. Whereas, the Bank of South Carolina, and the President, Directors and Company of the State Bank, have respectively Bank of South applied to the General Assembly by their respective memo- Carolina and rials, praying to be permitted to accept, as part of their res- State Bank. pective Charters, the terms and provisions of an Act entitled "An Act to provide against the suspension of specie payments by the Banks of this State," ratified on the eighteenth day of December, in the year of our Lord one thousand eight hundred and forty. Be it therefore enacted, by the Senate and House of Representatives, now met and sitting in General Bank of South Assembly, and by the authority of the same, That it shall and Carolina and may be lawful for the said Bank of South Carolina, and the State Bank auPresident, Directors and Company of the State Bank, severally to accept the terms and provisions of the said Act, as part of of Act of 1840, cept provision their Charters respectively: Provided, That the said corpora- &c. tions shall respectively notify the Governor of such acceptance, on or before the first day of March next. thorized to ap II. Nothing in this Act contained shall be construed to The proviexempt the said Banks from the forty-first section of "An Act to sions of 41st incorporate certain villages, societies and companies, and to Sec. of Act of renew and amend certain charters heretofore granted, and to 1841, to form part of their establish the principles on which charters of incorporation will Charters. hereafter be granted," ratified on the seventeenth of December, in the year of our Lord one thousand eight hundred and fortyone; but the provisions of the said section, and also of the Act mentioned in the first section of this Act, shall be taken and held as part and parcel of the charter of each corporation, which shall so accept as aforesaid. III. The Governor, upon being notified of the said accept- Discontinuance, shall cause all legal proceedings pending against the ance of proBank so accepting, for the purpose of vacating its charter, to be ceedings. forthwith discontinued. IV. The proceedings which have been instituted, and are The proceedpending, against any other incorporated Bank within this State, ings against in virtue of the said Act to provide against the suspension of other Banks to specie payments by the Banks of this State, shall be forthwith be discontinudiscontinued. ed forthwith. Future suspensions by Banks not ac cepting the provisions of Act of 1840, how dealt V. If any incorporated Bank in this State which shall not have duly accepted the terms and provisions of the said last mentioned Act, so that the same shall have become part of its charter, shall hereafter suspend the payment in legal coin, of the bills or notes of the said Bank, issued by the said Bank, as part of the currency or circulating medium of the State, or shall suspend the payment in such coin of the moneys placed with. in the said Bank on deposit, or shall declare its determination to suspend or refuse such payment, the Governor for the time being shall forthwith cause legal proceedings to be instituted against such Bank to vacate its charter; but no such proceedings shall be prosecuted to final judgment, nor shall final 1843. judgment for the State be entered thereon, until the expiration of the Session of the General Assembly next succeeding the institution of such proceedings. A. A. 1843. 11 Statutes, 253. Balance in how appro priated. FROM AN ACT MAKING APPROPRIATIONS FOR THE YEAR XII. After reserving the sum of ten thousand dollars, the Comptroller General is directed to apply any balance of monies in the Treasury, at the end of the last fiscal year, to the purchase and extinguishment of the Public Debt of this State, giving preference, in such purchase, to the debt the interest of which is paid from the Public Treasury. A. A. 1843. 11 Statutes, 262. Office, in Charleston. &c. AN ACT TO ESTABLISH THE OFFICE OF ASSAYER. 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 the office of Assayer, to be located and kept in the City of Charleston, be, and the same is hereby, established. II. An Assayer shall be appointed annually, by the PresiBank of the dent and Directors of the Bank of the State of South Carolina, State to apat their first meeting in each and every year, or as soon therepoint; condi- after as convenient; and the officer so appointed shall execute tions of Bond, a bond to the State of South Carolina, with surety or sureties, to be approved by the Commissioners appointed to approve the sureties of public officers in Charleston District, in the penal sum of five thousand dollars, and conditioned for the faithful performance of his duties as Assayer; and he shall be entitled to enter upon such duties on the due execution of such bond, and the filing of the same in the office of the Treasurer of the Lower Division. And the said bond shall stand as a security for all gold and other metals committed to the custody of the said Assayer, and shall be good and valid in law, to bind his sureties for every default during the whole time he shall continue in office, whether upon his original election or upon re-election. III. The duties of the Assayer shall be carefully to assay Duties of As- all gold and other metals generally used in coinage, which may be delivered to him for the purpose of ascertaining their quality or standard, and to stamp the fineness of the same, and if sayer. required, from time to time, to furnish certificates thereof to the owner. 1846. IV. The compensation of the Assayer shall be regulated by Compensation the President and Directors aforesaid, to be paid by the per son or persons for whom any assays may be made. V. Any vacancy occurring in said office shall be supplied by the President and Directors aforesaid, in manner, and with Vacancies. the same security, as are provided in these respects by the second section of this Act. FROM AN ACT TO MAKE APPROPRIATIONS FOR THE YEAR A. A. 1844. COMMENCING IN OCTOBER, 1844." 11 Statutes, 289. Balance in XI. After reserving the sum of ten thousand dollars, the Comptroller General shall apply any balance of moneys in the Treasury, Treasury at the end of the fiscal year, to the purchase and how approextinguishment of the Public Debt of the State, giving pre-priated." ference, in such purchase, to the debt the interest of which is paid from the Public Treasury. FROM "AN ACT TO MAKE APPROPRIATIONS FOR THE YEAR A. A. 1845. COMMENCING IN OCTOBER, 1845." 11 Statutes, 315. XI. After reserving the sum of ten thousand dollars, the Balance in Comptroller General shall apply any balance of moneys in the Treasury, Treasury at the end of the fiscal year, to the purchase and ex-how approtinguishment of the Public Debt of the State, giving prefer- priated." ence, in such purchase, to the debt the interest of which is paid from the Public Treasury. FROM "AN ACT TO MAKE APPROPRIATIONS FOR THE YEAR A. A. 1846. COMMENCING IN OCTOBER, 1846." 11 Statutes, 356. IX. After reserving the sum of ten thousand dollars, the Comptroller General shall apply any balance of moneys in the Treasury at the end of the fiscal year, to the purchase and extinguishment of the Public Debt of the State, giving prefer- Public debt to ence, in such purchase, to those debts the interest whereof is be purchased. payable at the Public Treasury. |