The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1851-03-01
VOL. XI.-NO. 80.

tober ot each year-verfied hy the oath Of the
president and cashier; which statement shall be
deposited in the office of said auditor. by the goth
day Of each of said months in each year; which
statement shall be published quarterly in the
nearest newspaper; and such statement shall con.
tain -
LIST. The amount OF capital stock of the nsso.
cla,ion or individual banker, paid in and invested
according to law.
I'd. The value Of the real estate, specifying
what portion is occupied by the association or
individual banker for the transaction Of business.
Sd. The debts owing 10 ,hc association or in.
dividual banker. and he date aud amount Of each
bill or note discounted, aud when the same was
made payable.
4th. The amount Of debts owing By the associ.
alton or individual banker, and the amount depos
tied IN other banks
9th. The amount of notes On bills then in cir
culatien Of said association or banker of loans
and discounts. and specie ON hand; what amount
of notes of other banks is held by such banker or
association. ...
9Th, The amonnt of suspended debt held by
such association or banker.
SEc. 35. Every association or individual bank.
er, that shall neglect or refuse TO make ont and
transmit the statement required in the --th Sec
tion ofths act, shall be restrained from the farther
prosecution Of the banking business, and shall
forthwith go into liquidation
SIC. &c. When any individual banker or asso-
citation desirous Of relinqui-hing the banking bust
ness, shall have redeemed at least ninety per
cent Of their circulating notes and shall produce
cershcate ola deposit to his credit IN such bank
as the auditor may approve, 10 nn equal amount
with the notes Of such banker or association, it
shall be lawful for the auditor 10 receive the same
and to give up all the securities Heretofore de.
posted by the banker or association for the re-
dempton Of the notes issued
SIC. 81. Such association or individual, after
having complied with the provisions ofthe prece-
ding section of this act, NAV give notice for three
years, IN paper published at the seat Of govern.
ment and also at least one paper published in
the county where the said association or bank
Shall have been located that all circulating notes
issued by such association must be presented at
the auditors Office, within three years from the
date of such notice, or that the funds deposited
for the REDEEM ption Of the notes will be given up
TO the bank or association; and, on receiving
satisfactory proof Of the giving such notice for the
time aforesaid the auditor shall surrender to the
order OF said association or banker any securities
which he may hold for the payment Of any un-
redeemed notes Of the said association or baHker
such notice to be published at least three weeks
IN each six months Of each year.
See 3S. That any such association or banker
doing business under the provisions of this act,
shall not be authorized TO take or receive exceed
ing per centam per annum rs interest ON any
sum ofmoney loaned, on any real ur personal se-
curlty which interest may, in all cases be received
in advance, and in the computation Of time thirty
days shall be month"; and twelve months year
Notes, bills, and all other evidences of indebted
ness TO corporations or associations organized ac-
cordlng to the provisions Of this act, falling due OF
maturing on the Sabbath or the Fourth of Julv
OF on Christmas or New Years day shall be deem
ell as due or having matured on the day previous
The stockholders in every corporation or ass0ca
ion organized under the provisions of this act
shall be individually responsible 10 the amount'
OF their respective share shares of stock for al
OF Indebtedness and liabilities Of every kind, t.
the full intent provided for in the constitution o
this state. When the property, rights, credits
assets and effects OF any corporation or association
put INTO liquidation, under the provisions Of thI'
act, shall have been exhausted in the redemption
ofnotes and payment Of liabilities, and then shall
remain unpaid; any indebtedness or liability o
any kind; any person having right or cause OF nc
tIor upon, or on account Of any such remaiEin.
Indebtedness or liability, shall have remedy il
any court ofrecord having jurisdiction, agains
the stockholders for the amount due upon such in
debtedness or liability; and to enforce this rene
dy, am such person may inStii ute and malnta ali
any appropriate action or suit in equity, again,
the corporation or association, and upon the trii
of such action, or the hearing of such suit if judy
mcnt or decree is attained against the corporation
or association the court shall direct an issue or is
-tt.Ea . l. IL. ,,t tl.n Al
asccrtaining aud deciding upon tho liability an,
extent thereof of each stockholder under and nc
cordng TO the provisions herein. and of the Con
stution, and upon the decision of such issue or is
sues the court shall euier Judgment or decree a
galnst each stockholdrr for the amount and to th
extent Of his her or their liability, 50 ascrrtaued
upon which Judgment executions may issue q
gainst the stockholders in succession, until the O
mount Of the Judgment against the corporate
shall be paid or collected, OF the liabilities o
stockholders extinguished, aud payments or CO
lections made upon judgments against stockhulo
ers shall operate to extinsuish the liability of sue
stockholders to the extent or amount of such ps,
mcnts or collections. Judgments or DEGREES cr
tered against stockholders under the provision
Of this act, shall stand ard remain as security fu
the paymert of any judgment or decree whic
may thereafter be obtained against the corpor,
uon under the provisions hereof, and when an
such subsequent judgment or decree shall he ol
'aiued the court shall order execution or execl
tons To issue against stockholders liable TO pa
the same, until the amount shall he paid or co
lectcd. or the liabilities Of stockholders shall |
eNtinguished Whenevertwo or more Judgment
or DEGREES are obtained ut the same term Of II
court IN favor of different parties against any Co
poratIon, under the provision, Of the three ioreg
ing sections, the aggregate amount Of which sha
exceed the amount for which the stockholders n,
liable, the court shall direct the amount coecte
to he divided between the said parties pro rat
or in proportion to the several amounts and Il
same apporionmcnt shall be made Of money CO
lected on any such judgments when tho who
amount thereof cannot be collected Wheney
any stakeholder shall have paid the amount fC
which It shall have been ascertained that he. sll
or they is or are liable, the court shall ON mott,
and proof of the facts of such payment, order 81
lsiact'on of the judgment, as against or in respe
to such stakeholder, to be entered on record
SEo. 80. At the general election, to be held ,
the Tuesday next after the first Monday in \
vcmber, one thousand eight hundred and fl
one, at the usual places of holding elections
this state, for the election Of Senators and Re
resentntives to the General Assembly, the que
tion whether or not this act slmll go into effect,
IN any manner be in force. shall be submitted
the people, and il the same is approved by m