Volume 25 · 1070
Private Law 50–305
for the relief of Merchants’ National Bank, of Poughkeepsie, New York.
Approved May 21, 1888
Statutory text
An Act
for the relief of Merchants’ National Bank, of Poughkeepsie, New York.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That the Secretary of the Treasury be, and he hereby is, instructed to issue a duplicate four per centum registered bond for the sum of ten thousand dollars to the Merchants’ National Bank, of Poughkeepsie, New York, and cause the same to be registered on the books of the Treasury in the name of the Merchants’ National Bank, of Poughkeepsie, New York, in lieu of bond numbered ten thousand three hundred and seven, for ten thousand dollars, act of July fourteenth, eighteen hundred and seventy, consols of nineteen hundred and seven, inscribed in the name of the Dutchess County Mutual Insurance Company, and assigned in blank, and lost or destroyed about the twenty-fourth day of July, eighteen hundred and eighty, upon the Merchants’ National Bank of Poughkeepsie, complying with the following conditions: That it file with the Secretary of the Treasury a consent by the Duchess County Mutual Insurance Company to the cancellation of
Cancellation of lost original.
the entry on the books of the Treasury showing it to be the owner of said lost bond ten thousand three hundred and seven, and to the issuing of said duplicate bond and to the payment of interest thereon hereafter to the Merchants’ National Bank, which consent shall be in writing executed and duly acknowledged by the officers of the said insurance company and approved of by the Secretary of the Treasury. That it also execute and file with the Secretary of the Treasury a
Indemnity bond.
bond with sufficient sureties, to be approved by the Secretary of the Treasury, in the penalty of twenty thousand dollars, conditioned to save harmless and indemnify the United States from loss or liability on account of said original bond or the interest accruing thereon, and shall renew said bond, from time to time, as the Secretary of the Treasury or his successors may require, and shall deposit as collateral security to said indemnity bond with the Secretary of the Treasury said duplicate bond, to be held at all times by said Secretary until the liability of the United States upon said original bond shall be extinguished.
Approved, May 21, 1888.