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county, issued in payment of their subscription to the capital stock of any railroad company.

and used.

SECTION 2. That said controller and commissioners are hereby Bonds or certifi authorized and empowered to issue bonds or certificates of loan cates of loan, of said county, in the corporate name thereof, to be sealed how to be issued with the corporate seal of said county, and signed by the commissioners and countersigned by the controller; which said bonds or certificates of loan shall be used for the purpose of redeeming the bonds of said county, issued to said railroad companies as aforesaid, and for no other purpose whatever.

or certificates.

SECTION 3. That any guardian, executor, administrator, trus- Guardians, extee, or other person, who may hold any of the said bonds of ecutors, &c., ausaid county, issued as aforesaid in payment of subscription to thorized to acthe capital stock of any of said railroad companies, in trust cept such bonds for any other person or persons, shall be and are hereby authorized to accept new bonds, or certificates of loan, of said county, in exchange for those so held by them, upon the terms and conditions of said compromise; and said trustees are hereby exempted from all liability to account to their respective cestui que trusts for any greater or larger amounts than the same by them respectively received by virtue of said compromise.

SECTION 4. That all bonds or certificates of loan, which may To become part be issued by virtue of this act, shall be and become a part of of funded debt, the funded debt of said county, and the interest thereon shall &c. be provided for in the regular annual levy of county tax.

SECTION 5. That the controller and commissioners of said Capital stock of county may provide for and authorize the transfer of any of railroad companies may be the capital stock of any of said railroad companies, in payment transferred in of any of the bonds issued to any of the said railroad compa- payment of nies aforesaid, at such prices and conditions as may be agreed bonds. upon by said parties.

agement of.

SECTION 6. That for the ultimate redemption of said bonds Sinking fund so issued in compromise, a sinking fund of twenty-five thou- created, pursand dollars, from the annual revenue of said county, shall be pose and manset apart each and every year for the purpose; for the management thereof there shall be a board of three commissioners, to be known as commissioners of the sinking fund, of which Commissioners, the county controller shall be ex-officio one, and shall act as appointment secretary of the board; the remaining two shall be appointed and duties of by the judges of the courts of Common Pleas and District court for said county, to serve three years from the date of their appointment; and at the expiration of their term of service, said judges shall appoint two in like manner, and every three years thereafter vacancies for an unexpired term to be filled by similar appointment; the commissioners of the sinking fund so appointed shall receive no compensation for their services; it shall be their duty to purchase with said fund of twen ty-five thousand dollars, so many bonds or certificates of loan which were funded for interest on said bonds issued in compromise to railroad companies as said annual amount will absorb, at the most favorable market rates; which bonds or certificates of loan so purchased shall be treated by the controller, as other cancelled obligations of the county now are; in the month of August, in each year, the said controller shall issue a certifi

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cate to the county commissioners, in favor of the county treasurer, for said amount of twenty-five thousand dollars; and said treasurer, on receipt thereof, shall transfer the amount to the sinking fund, and shall disburse the same only on warrants drawn by said commissioners of the sinking fund, or a majority of them; said warrants to be registered separately by the controller, in a book to be kept for that purpose; no portion of said sinking fund shall be applied by the commissioners thereof to any other purpose than the purchase of said bonds or certificates of loan; and any violation of this provision shall be deemed a misdemeanor, punishable, on conviction, by imprisonment for not less than three, nor more than twelve months, at the discretion of the court.

SECTION 7. That it shall be lawful for the said controller and county commissioners, from time to time, to increase the said sinking fund, by appropriating to the same any surplus funds, moneys or revenues remaining in, or payable to the treasury, not required for the ordinary expenditures of the county.

JOHN CESSNA,

Speaker of the House of Representatives.

GEORGE V. LAWRENCE,

Speaker of the Senate.

APPROVED-The twenty-ninth day of January, Anno Domini one thousand eight hundred and sixty-three.

A. G. CURTIN.

No. 16.

An Act.

Supplementary to an act appointing Commissioners to lay out and open & State Road, in the counties of Potter and M'Kean, approved on the eleventh day of April, Anno Domini one thousand eight hundred and fifty-nine.

SECTION 1. Be it enacted by the Senate and House of Represen tatives of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by the authority of the same. Location of road That the commissioners of said state road are hereby authormay be changed ized to change the location of said road, at any point along the line thereof that they may deem necessary and desirable, where said road has not already been worked and completed.

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SECTION 2. That L. B. Cole, Miles White and Collins Smith, are hereby appointed commissioners to appraise any damages that may be sustained by any person or persons by reason of such change in location, who shall proceed to estimate damages in the manner provided by the first section of an act

passed the twenty-second day of March, Anno Domini one thousand eight hundred and sixty-one, in relation to said road, and shall file their report in the court of Common Pleas of Potter county, at the June term, Anno Domini one thousand eight hundred and sixty-three; which report, when so filed, shall be proceeded upon in the manner and have the effect provided by the first section of said act; said commissioners to appraise damages to be paid two dollars per day for their said services, out of said state road fund.

SECTION 3. That the bonds authorized to be issued by said Bonds to be isstate road commissioners, to secure loans by the fifth section sued, relative to of the act last before mentioned, may be issued for any sum

not exceeding one thousand dollars, instead of one hundred dollars, as provided by said section of said act.

JOHN CESSNA,

Speaker of the House of Representatives.

GEORGE V. LAWRENCE,

Speaker of the Senate.

APPROVED-The twenty-ninth day of January, Anno Domini one thousand eight hundred and sixty-three.

A. G. CURTIN.

No. 17

An Act

To fix the place for holding Elections in Shippen township, Cameron

county.

SECTION 1. Be it enacted by the Senate and House of Representatives of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by the authority of the same, That from and after the passage of this act, all elections held in Shippen township, Cameron county, including general and special elections, town meetings, et cetera, shall be held at the hotel now owned by Legrand Cook, situate in the village of Shippen, in said township.

JOHN CESSNA,

Speaker of the House of Representatives.

JOHN P. PENNY,

Speaker of the Senate, pro tem.

APPROVED The thirtieth day of January, Anno Domini one

thousand eight hundred and sixty-three.

A. G. CURTIN.

State Treasurer

authorized to

exchange with the banks, cur rency for coin, and give specie certificates

therefor.

Extension of

time for the resumption of specie pay

ments.

Limitation

Each bank to furnish a pro rata share of coin.

Attorney Gener

al to close banks

No. 18.

An Act

To provide for the payment of the Interest on the State Debt.

SECTION 1. Be it enacted by the Senate and House of Representatives of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by the authority of the same, That the State Treasurer be and is hereby authorized to exchange with any bank or banks of this State, an amount of currency sufficient to pay the interest on the state debt falling due on the first days of February and August, Anno Domini one thousand eight hundred and sixty-three, for the same amount of coin, and he is hereby authorized to give to said bank or banks specie certificates of exchange not transferable, pledging the faith of the State to return the said coin and reexchange for notes current at that time, on or before the first Monday of March, Anno Domini one thousand eight hundred and sixty-four; said certificates of exchange to bear interest at the rate of two and one half per centum per annum, and to be estimated and computed as so much coin in the assets of the banks aforesaid.

SECTION 2. All the provisions of the first and second sections of the act, entitled "An act requiring resumption of specie payments by the banks," approved April eleventh, Anno Domini one thousand eight hundred and sixty-two, are hereby extended until the first Monday of March, Anno Domini one thousand eight hundred and sixty-four, to all banks exchanging coin for currency under the provisions of the first section of this act.

SECTION 3. That if the banks of the Commonwealth shall tender to the Treasurer, more coin than shall be required to pay the interest aforesaid, he shall receive from each bank so tendering a pro rata share of the amount so required, in proportion to the capital stock of each, and in case of any deficiency in the amount so offered by the banks, he shall assess the amount required upon all the banks of the State, in proportion to their capital stock, and on failure of any bank or banks to furnish a pro rata share of said coin so required for the space of thirty days after being. notified, such bank or banks shall not be entitled to the benefit of the provisions of the preceding sections of this act.

SECTION 4. That the Attorney General of this Commonwealth failing to com- is hereby authorized and directed to proceed to wind up the ply with this act affairs of any bank or banks who refuse or neglect to comply with the provisions of this act.

Sale of coin by SECTION 5. That it shall not be lawful for any bank in this banks in state State to sell any gold or silver coin from its vaults, while in a of suspension to work forfeiture state of suspension, and any violation of the provisions of this section shall work a forfeiture of its charter, and any officer or

of charter.

officers of any bank, consenting to any such sale of coin, shall

be liable to prosecution for misdemeanor in office.

SECTION 6. That the banks of this Commonwealth are hereby Reduction of required, during their suspension, to reduce their circulation circulation reto an amount not exceeding twice the amount of their capital quired. stock actually paid in, or three times the amount of coin in

ditor General.

their vaults; and all banks are hereby required to make return, Returns of cirunder the oath of the cashier thereof, to the Auditor General, culation to be every three months, commencing from and after the passage made to the Auof this act, the amount of their circulation; and every bank, whose circulation shall exceed twice the amount of its capital stock, or three times the amount of coin in its vaults, shall be required to retire or call in the one-sixth of such excess every sixty days, until its circulation shall correspond with the provisions of this section; and should any bank fail to comply Forfeiture of herewith, it shall be the duty of the Auditor General to notify charter for failthe Attorney General thereof, who is hereby required to proure to comply. ceed under the fourth section of this act to forfeit the charter of such bank.

SECTION 7. The provisions of this act shall not apply to any Certain banks bank or banks which have not or do not suspend specie pay- not subject to ments prior to the said first Monday of March, Anno Domini provisions of one thousand eight hundred and sixty-four, nor shall they apply to the banks incorporated under the free banking laws.

JOHN CESSNA,

Speaker of the House of Representatives.

GEORGE V. LAWRENCE,

Speaker of the Senate.

APPROVED—The thirtieth day of January, Anno Domini one thousand eight hundred and sixty-three.

this act.

A. G. CURTIN.

No. 19.

An Act

To authorize the Auditor General and State Treasurer to open and reaudit certain accounts of Joseph C. Hays, late Treasurer of Crawford eounty.

SECTION 1. Be it enacted by the Senate and House of Represen tatives of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by the authority of the same, That the Auditor General and State Treasurer be and they are hereby authorized to open and re-audit the account of Joseph C. Hays, late treasurer of Crawford county, for militia

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