Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1857-02-26

Bank; end, as soon as organized as q Board,
they shall provide banking house or place
Of business, appoint Cashier and such 9th
er officers and servants as they shall deem
necessary 10 carry on the business of such
Branch Bank, fix their compensation, and
also that Of the President; but no Director
shall be allowed any compensation.
Sec. 3.-As soon as the Board Directors
are organized, and place of business pro-
vided, and the sum of twenty-five thousand
dollars paid in, by The subscribers, the
President shall notify the Parent Bank Of
the fact, and such parent Bank shall, within
ten days after the receipt Of such notifca-
ton, furnish to the branch Bank a like a.
mount in coin, and also its pro rata Of bills
for circulation; and upon the receipt of such
coin and bills for circulation, the Directors
or President shall procure the services of
two justices of the county court OF such
county, or judge Of the circuit or other
court of record in this State, to examine
the specie funds on hand of said branch
Bank, and ascertain whether the capital
stock has been bona fde paid in by the
stockholders, as required by this act, and
being satisfied with such examination, such
justices, or judge Of a court Of record, shall
subscribe two certificates, setting forth such
facts, one oil which shall be filed in the Of
flee Of the Secretary of State, and one shall
be transmitted to the Bank Commissioner,
who shall have copy thereof published in
two newspapers published in the county
where the parent Bank is located, and upon
such publication the branch Bank may com
mence business by receiving deposits, buy
ing and selling exchange, dscounting notes,
bills, and other evidences Of debt, issuing
and putting in circulation the notes fur
nished by the parent Bank, and generally to
exercise the business of banking.
Sec. 4.-The net earnings Of the branch
Banks shall form part of the general divi-
dend fund Of the parent Bank, and the per
centum required by this act to be set aside
as contingent fund, and the bonus raid to
the State, shall be estimated on the whole
stock Of the parent Bank and branches. and
the contingent fund accounts shall be kept
at the parent Bank, which shall also pay
the bonus of one per cent. 10 the State, upon
the entire capital stock; and all dividends
shall be declared and paid at the parent
Bank.
SEC. 5.-In the event that the amount Of
capital stock, authorized to be subscribed
for at the place WHARF branch Bank is To-
Gated, shall not all be taken previous 10 the
organization and opening of said branch
Bank, the President and Directors of said
branch Bank shall reopen said books at the
banking house, and keep them open during
banking hours, until the whole amount shall
be subscribed; and whenever subscriptions
10 tbo al eto u tha
thousand dollars shall be made, then it shall
be the duty of the President and Cashier TO
notify the parent Bank of such additional
subscription; and the said parent Bank shall,
within thirty days thereafter, transmit TO
such branch Bank q like additional amount
in coin and notes for circulation, in the ratio
10 which such capital is entitled, and every
, additional subscription of five thousand dol
lars shall entltle such branch Bank to an
| additional capital and notes for circulation
from the parent Bank, until the whole CAPT.
tai of such branch Bank shall be made up.
The re mainder of the report Creates the
office of Bank Commissioners, and defines
their duties.
PROPOSED BANKS.
The following Banks and Branches are
proposed, by The Joint Committee on Banks,
to be chartered under the provisions of the
general law regulating Banks and Banking
| Institutions
State Bank of Missouri, capital 80. So, o0O, 900
Branch at Fayette '..... 100000
Branch at Palmyra 100000
| Branch at Springfield. 100000
Branch at Chillicothe ...... 100000
Branch at Cape Grardeau... 300 900
Branch at Louisiana ..... 100000
The following Banks are proposed, with
the capital set 10 each respectively. The
capital of the branches to be governed by the
general law prescribing the limits to the
capital of the branch Banks, viz: not less
than fifty thousand dollars each, and not to
exceed, in the aggregate, two-fifhs of the
capital stock of the parent banks
Exchange Bank of ST. Louis ...... ST 900 COO
Branch at Glasgow.
| Branch at NeoSho.
Bank of st. Louis ........... 1000, 900
| Branch at Rirksvlle.
! Branch at Boonvlle.
| Merchants Bank, st. LOUSY ...... 1000, OOG
Branch at Brunswick.
| Branch at Oseola
| Branch at Sic. Genevieve
City Bank of St. Louis, (Lucas &
Sinonds) ............. 100000
Branch at Hannibal.
Branch at Kansas City.
| Branch at Columbia
! Mechanics Bank, t.Louis) ..... 100000
| Branch at Warsaw.
Branch at Weston.
Branch at Fredericktown.
| Southern Bank Of st. Louis 100000
| Branch at 81. Charles.
Branch al Independence.
Bank of Commerce, est. Louis).y 5000
Branch at Canton
Branch at New Madrid
Branch at S. Joseph.
Farmers Bank of Missouri, (Lex-
ington) ...... ....... 1,0o0,000
Branch at Paris.
Branch at Liberty.
Western Bank of Missouri, (St. Jo.) 100000
Branch at Bloomington.
| Branch at Fulton.