Wisconsin tribune. (Mineral Point, Wis.) 1847-1854, 1852-06-03

I line Tor each insertion.
e157s.sEss1.s =Sz11 Ltz
: urer. in trust as provided in this act shall at
any time for the period Of ninety days be
I less than the value al which they " ere depos.
I ited, the controller shall notify such bank Of
/ TIE depreciation In value Of such securities.
ard such banks within thirty DAYS after re-
celvlng such aforesaid notice shall cause se
. curltles of the kinds before specified OF an
equal amount of their circulating notes to be
transferred 70 the treasurer of state, in trust
TO an amount equal 10 the difference between
the current market value at the time Of notice
and the value at which the same were denos-
Ited and II said banking association shall
neglect OF refuse 10 deposit securities or cir
culating notes to the amount of such differ
ence, within the thirty days after the date of
said notice. the said association shall bs
deemed TO have forfeited their rights, powers,
privileges and Immurilies as banking associ-
auons under the provisions OF this act, and
II shall be the duty Of the controller to maks
application 20 the circui court of the county
IN which said association may be located, to
have receivers appointed as provided bv Sec
ton nine, chapter fifty four. title thirteen. re-
vISed statutes. who shall have the powers and
perform the duties that are required by that
sec lon. But this section shall mol be SO
construed as to require the surrender TO such
receiver o: any securities deposited with the
treasurer or controller, pursuant 10 this act.
and the controller shall sell such securities
Tor the payment Of the bills or notes issued
by the bank. as he is required 10 do in other
cases.
Sec. &c. Il shall not be lawful for the con-
trolier or ms deputy. 10 couniersign bills or
notes tor any association 10 an amount in the
aggregate exceeding the securities. at their
value, as before provided in this act deposit
ed with the treasurer, in trust, BY such asso-
Grafton; and any controller or deputy, asso-
claiIon; and any controller or deputy. who
shall violate the provisions Of this section.
shall upon conviction, be deemed ruiltv of a
mIsdemeanor. and shall be punished bv a fine
Of not less han FIVE thousand dollars, or be
Imprisoned not less than five years in the
state prison, or by b tn such fine and impris-
onmeut.
Sec. -. Il shall be lawful for any asso-
citation Of persons organized under the provi-
sIous Of this act. by their articles of associa-
ton, to provide f9r an increase Of their capi-
tai 4; and Of the NUMBER Of their association
from time 20 time, as they may think proper,
the aggregate capital not TO exceed five hun
dred thousand dollars. as before provided.
Sec ,. Contracts made BY any such as
soclation and all notes and bills by them IS
sued, and put in circulation as money. shall
be signed by the president or vice president
and cashier thereof.
See. -. Il shall be lawful for such asso-
ciauons 70 purchase hold and convey real es-
tate for the following purposes
lsJ Such as shall be necessary for its i'm
mediate accommodation in the convenient
Transaction Of lis business:
I'd. Such as snail be mortgaged to il in
good faith by way of security for loans made
by. OF money due to such association;
81. Such as shall be conveyed to il in sat-
isiactIon Of ceols previously contracted in
the course Of It's dealing; and
Attn. Such as II shall acquire by sale on ex-
ecuI0n or decree Of any court in its favor
The said association shall not purchase. hold.
or convey real estate In an other case or for
any other purpose whatever; and all convey
ances Of such real estate shall be made 10 the
corporation, and which real estate the presi.
dent aud cashier may sell, assign. grant, or
convey, under the direction OF the associa-
'ion free from any claim thereon, in favor of
or against the shareholders, or any persons
claiming under them.
Sec. 30. Such association shall be liable
to pay the holder Of every bill or note put in
circulation as money, the payment of which
shall have been demanded and pro ested. five
per cent. damages for the non-payment there
Sec. 81. The president and cashier of ev-
cry association formed pursuant to the pro-
visions of this act, shall at all times keep a
true and correct list Of the names of all the
share holders Of such association. and shall
file copy Of such list in the office of the reg
lister Of deeds of the county where any Office
Of sucn association may be located, and also
IN the Office Of the bank controller. on the
first Monday Of January and July in each
year.
Sec. 30. Il shall not be lawful for any as.
soclaton formed under the provisions of this
act, TO make any of its bills or notes, to be-
put IN circulation as money, payable at any
other place than at the Office where the busi-
ness Of the association is carried on and con-
ducted, and said bills or notes shall be made
payable on demand and without interest.
Sec. 80. Whenever the securities deposit
ted for the redemption Of circulating notes,
shall IN the opinion Of the controller become
insufficient for that purpose, he may receive
the interest and dividends on all securities
and shall deposite the sa ne with some safe
banking association the deposit to be made
on such te and at such rate of interest az
the controller may deem most conducive to
the interest Of such association. and to be
Withdrawn and paid over whenever in .ha
opinion Of the CONTROLLER the securities of such
association shall be sufficient to warrant j..
Sec. 81. All fees for protesting the circu-
lating notes issued by any banking associa-
tion, shall be paid by the person procuring
the services TO be performed, for which said
association shall be liable. but no part Of the
securities deposited by such association shall
be applied to the payment of such fee.
Sec. 35. When the officers Of any bank
ing association, desirous of reiuquishing the
banking business, shall have redeemed al
least ninety per cent. Of their circulating
notes, and shall have returned, cancelled the
said notes to the controller, and shall produce
10 the controller certificate Of deposite to his
credit in such bank as he shall approve, to
an equal amount with the circulating notes Of
such banking association unredeemed, i; shall
be lawful for him 10 receive the same, and to
give up all the securities heretofore deposit
ted by such banking association for the re-
demptlon Of circulating notes issued.
Sec. sc. Such banking association after
having complied with the provisions of the
last preceding section, shall give notice for
two years in some newspaper in the county
where such bank shall have been located,
that all the circulating Hetes issued By such