CO129-218 - Administrator Marsh Governor Sir Bowen & Others - 1884 [11-12] — Page 382

379

the note issue of

terms.

"

the Bank

on the following

XII. It shall be lawful for the Company "to make, issue and circulate Notes or "Bills payable to Bearer

on

demand

"in coin law fully current in the Colony "and to re-issue the same; provided

that no such notes shall be issued

other sums than the sum of

"For

any "Hive Dollars

or some multiple of

"such sum or other equivalent amount

"unless the issuing of Notes of other

amounts shall be sanctioned

by

the

"Governor; provided also that nothing "herein contained shall exempt the Company

"from the operation of any existing

" future laws

of

the

Colony, or of any

"port, city, town or place beyond the

"limits

-establish Bank or Branch Banks, restricting

regulating the issue of such notes, "by Banks established therein. And "provided also that the Shareholders " of the Company shall be subject to unlimited liability in respect of

“

"all or

any

such issues or issue

of

"potes, and, if necessary, the assets

"of

"

the Company shall be marshalled

for the benefit of the general creditors "of the Company, and the shareholders "shall be liable for the whole amount "of such issue, in addition to the sum "for which they

are liable, under the

"other and general provisions of "Ordinance."

this

opinion

of

the Colony

where they

they may a foresaid

establish

My Lords would ack

your as to the manner in which this clause would operate in the event

of

with such consent as

i