Chap. 243.—An ACT for the Relief of the Bank of the Old Dominion.

Approved July 9, 1870.

Whereas, it appears by the books of the commonwealth,
that on the first day of September, eighteen hundred and
sixty-five, there was to the credit of the Bank of the Old Do-
minion and its branch at Pearisburg, three hundred and seventy-
four thousand dollars, of the public securities of this state, to
the credit of the state treasurer as trustee, for the redemption
of the countersigned notes of said bank and branch; and
whereas, it appears by the same authority there remains of
said securities but twenty-one thousand five hundred dollars,
applicable to the same purposes, that being also the total.
amount of its countersigned notes outstanding at this time,
and the said bank is now, and has been for several years, in a
a of liquidation, with ample means to discharge all its
liabilities, including said balance of outstanding notes, a large
portion of which are supposed to have been lost or destroyed
during the late war; and whereas, it seems reasonable to the
general assembly that some period shall be fixed after which
it may be lawtul for said Bank of the Old Dominion to divide
its remaining assets amongst its stockholders: |

1. Therefore be it enacted by the general assembly of Vir-
ginia, That upon the passage of this act, it shall be lawful for
the Bank of the Old Dominion, by advertisement to be pub-
lished weekly in two or more newspapers of this state, and
some newspaper published weekly of Baltimore, Maryland,
for the period of six months, to require the holders of its
countersigned notes to present the same for redemption, at
par, at the office of said bank, in Alexandria, and at the expi-
ration of six months, after due publication as aforesaid, all of
said countersigned notes, which shall not be so presented, are
hereby declared barred by lapse of time, and the obligation of
said bank and of its stockholders to redeem the same, is hereby
declared extinguished and released.
2. And be it further enacted, That at the expiration of said
period of six months, after due advertisement, the treasurer of
this state be and he is hereby authorized and required, when-
ever satisfactory evidence has been produced that the notice
by publication, as required by the preceding section of this act,
has been fully complied with, to re-transfer and deliver to said
bank or its legal representative, all the public securities of this
state, remaining in his hands, which were deposited by said
Bank of the Old Dominion; and thereupon, the state shall be
and it is hereby declared to be released and discharged from all
liabilities as trustee for the note-holders of the countersigned
notes of said Bank of the Old Dominion, as provided by the
charter thereof, passed March the twenty-ninth, eighteen hun-
dred and fifty-one.

3. This act shall be in force from its passage.