PHILLIPS LEE GOLDSBOROUGH, ESQ., GOVERNOR. 1327

able. And all bills and notes that may be issued by order of
said corporation, signed by the president and countersigned by
the cashier thereof, promising the payment of money to any
person or persons, his, her, or their order or bearer, though
not under the seal of the said corporation, shall be binding and
obligatory upon the said corporation in the like manner and
with the like force and effect as upon any private person if
issued by him in his private or natural capacity, and shall be
assignable and negotiable in like manner as if they were so
issued by such private person—that is to say, those which shall
be payable to any person or persons, his, her or their order,
shall be assignable by endorsement in like manner and with
like effect as foreign bills of exchange now are, and those which
are payable to bearer shall be negotiable or assignable by deliv-
ery only.

SEC. 8. And be it enacted, That the lands, tenements and
hereditaments which it shall be lawful for said corporation to
hold shall be only such as shall be requisite for its immediate
accommodation in relation to the convenient- transaction of its
business or such as shall have been bona fide mortgaged or con-
veyed to it by way of security or in satisfaction of debts con-
tracted in course of its dealing or purchased at sales upon judg-
ments or decrees which shall have been obtained for such debts
or foreclosure of mortgages or mortgagee's sale in cases where
mortgages conferring power on the mortgagees or attorneys
named therein to sell real estate mentioned therein, shall have
been executed or assigned to such corporation to, secure such
debts.

SEC. 9. And be it enacted, That it shall not be lawful for
the said corporation to make discounts or pay out any funds or
money other than gold or silver coin or certificates or legal
tender notes, the lawful currency of the United States, notes
issued by the authority of this act, and notes of other banking
institutions, received at their par value by the bank so paying
them out; and if at any time the said corporation shall neglect
or refuse to pay in gold or silver coin or certificates or lawful
money of the United States, any of its notes, bills or obligations,
or money received on deposit, in violation of the promise, con-
tract or undertaking of the said corporation, the person or
persons entitled to demand and receive such payments shall
respectively receive and recover interest on said bills, notes,
obligations and deposit until the same shall be fully paid and
satisfied at the rate of six per cent, per annum from the time
of such demand.