St. Charles City Republican intelligencer. [volume] (St. Charles City [Charles City], Iowa) 1857-1861, 1858-05-13
G9e gntelligenttr.
LAWS OF IOWA,
STATE BANK OF IOWA.

SECTION J. BE Ii enacted by the General Assembly
the state of Iowa. That the State Bank Of Iowa b and
same hereby incorporated with all the powers herein
after granted and by that name shall be carab Of co
tracing and being Contracted with and , prosccu,ir
and defending actions fully Us natural persons and
dong all other act Necessary to effect the objects coI
tmplatcd in this act by the cr,atinn az .,hi cnr,,
1 ton.
~ That as soon five more branches of the Sta,
nk of Iowa shall be organized as in this act l. author
ize Tue directors Of the said bank of Iowa apin
cd by such branches. shall meet in low, tuy al sue
time as shall be designated by the Board OF Rank Cor
m-,Icner8 who shah give ten days prev ious notice
cach branch, OF the time of such meeting and pruy e
i~olhrds o the whole number of such directors sball
convened, they shall organize by taking an oath di
sehuy faithfully, and imariiiy 10 perform the dute
Inposei upon them by this act certificate If which oa
signed by each Director, shall be cd and preserved
te once oi the Secretary Of state and by cectng som
one m eif number as President who shall pre,iie at tn
ce'hS' "i ule board and sign it, official documents AM
thereafter the directory OF the state bank shall be com
posed "i one director appointed by each branch Of sa
bank twothrds OF whom shall be quorum and o,hc
branches may be organized under such directory as
herein provided
S3 The directors shall when they deem Il necessary
elect Vice President whose duty shall be- pr.sc rihed IA,
the py laws lhey shall appoint Secretary who shaI
Keep lair and true record Of the proceedings of the bank
ihcy shall Keep an Office in Iowa City which together
WIN Their books lapcrs records and accounts of ever,
description shall at all times BE- open to the inspection
any committee Of the General Assembly or either braucl
ucre"l ana oi any commissioner ioners sIe
cay appointed Tor that purpose by the General ASS m
by, or either branch thereof by the Governor of IN
state. They shall procure and furnish each branch u m
notes Tor circulation, and decide the amount to b.
furnished from time To time to each within the limits an,
agreoaby to the restrictions prescribed by th. act The,
may prescribe rules for the settlement balances be
tween branches, revise their by laws and regulations
concerning charges for making collections and eaus.
both u be made uniform, nearly so As may be ex
PdIent They shall have power by thems elves ar by 4
committee OF one members Of their own b dy o
by special agent appointed by them for that pursse
whenever and as often they shall think prupf To- VII,
an! orahch inspect It's books, records and accounts
and all the evidences OF debt due and securities held
10y such branch examine and ascertain the amount o
money and other property held by such branch exam
Inc on oath the President, Vice Pre- lent and Directors
and Cashier and all other officers agent. rrrk. or scr
wants OF the branch touching its condition mean. and II
abilities they shall have power To require any branch "a
reduce It's Circulation or other liabilities within such lin
s As they shall after full enquiry into lis c.pd ti,n
necessary to secure from los either the dealers with
such branch or the other branches Of the state Rank OF
Iowa They shall soon after the first Monday as prac
ucabc publish in some newspaper printed AT Iowa ty
consolidated abstract the monthly rcuors of All H.
branches, showing their ASSETS abilities and condition
which statements shall be recorded in book or books To-
be kcpti"r that purpose. They may appnnt an cxccu
i've committee. 81 not less than three, Of whom the Vice
Pre-. .Ieni shall be one in behalf Of the bank in nil
such 'aes a. shall be prescribed by the BY laws Of ad
bank, MT Inconsistent with this act
-. The President. Vice President Secretary and al
other officers or agents Of the bank shall each receive
such compensation for their services said bank shall
allow, winch shall be assessed upon the several branches
OF the state bank Of Iowa. in the ratio Of their cap,
stock The bank may also allow the executive commit
Tee such comen alton a may deem just and reasnta.
oc 10 Dc PAID by the several branches in the same man
ncr and the EXPENSES Of procuring paIs and printlnp
notes Of circulation shal be pad by the several branch
es N the ratio OF the notes o circulation received Ly
each -
s. Each director Of the bank apponte. bv the branch
e. shall continue III Office until the first MONDAY in F,bru
afy next alter ms appointment ami until hi,
shall be appointed and qualified vacancies in the board
shall be filed by the branch by which the appoptmeni
vacated was made. In voting, each member shall be
entitled u two votes and to one additional vote for ev.
tf gt.,.l
paid into the branch represented By him over one hun
deed thousand dollars at the time Of such voting The
PRESIDENT ana Wee rc icut of the bank -ha hu! their
Offices for one year and until their successors mr.. ,n,,
ted, but they may be removed by resolution OF the
board They and all other officers and agents of the
bank shall take an oath faithfully diligently and mnar
italy To fulfill the duties of their apoitmts ana mo-,
knowingly violate any Of the provisions Of this act They
shall be required To give bond in such and with such
securities as the Rk shall prescribe ami all vacancies
in said api, in,men,s shall be flied by the bank
Sc. All notes designed for circulation by the branches
sha! be furnished by the state bank Uf Iowa hut no
notes shall be delivered to any branch until they are
numbered and cOunersgned by person authorized
by the State Bank OF Iowa, TO the same AS
register and full record OF such numbering and coun
made in book provided that purpose and
all such notes shal! have stamped printed on their face
the words " Registered by the state Rank of Iowa
All notes so worn, dcaeca muiated Us 10 be unit for
circulation, shall be returned by the branch by which
they were issued 10 the bank and equal amount OF
new notes Received therefor all such notes so returned
by branch shall be credited and all new ones deliver.
ed IN their stead shall be charged such branch on the
bucks 81 SAID bank and the returned shall
burned 10 ashes i'll the presence Of the President or
Vice lresient and at least two If the directors of said
bank.
of circulation shall require such branch to pay over or
dcpo to the credit of said bank sai bank shall or
der either ia money or In United states stocks inter
est paying St stocks at their current value in the
OF New York, but III above their par value an
amount equal TO Ia cent. the amount of the notes
for circulation which hall be delivered such branch
fE ne la In.la
"i an additional amount capital stock or by not
having received the amount of notes for circulation e.
which IL was previously entitled, shall add
u"na amount oi notes for circulation such branch sha
deposit with the bank 1924 per cent on the amour, Of
notes 80 received and the stocks and money so dcpos
ted shall be denominated the Safety Fund and sha
be invested AS hereinafter provided and held by the
bank the property Of said branch trust for the ben
cnt ol the several branches OF the state Rank of Iowa
ion {" any one or more of the said branches that
fail 10 redeem its notes, to he applied that purlse m
the manner pointed out in this act
IS. All money so deposited paid to the bank on &C
count oithe safety Pond by any branch, shall be under
the direction of said bank, invested either in interest
paying stocks OF states oi the INIT states Each
branch shall be entitled TO receive the interests accrg
on the stocks IN which lis portion Of the safety fund >ha
have been invested, and IN OF the Of an,
branch the stocks in which the money such branch
shall have been tee, as Aforesaid If the prereds u
such stock shall be sufficient Ia redeem il, out STANDING
notes u circulation, shall far as practicable be frs
converted iito money and applied to that purpose be-
fore any part o the safety fund belonging other branch
Is. shall be oappied
50. The state Bank of Iowa shall not furnish TO any
branch, circulating notes to an amount bearing greater
portion IL the capital stock Of said branch actually raid N
and at the time remaining uhdimnished by losses o.
Withdrawal, than the portion hereinafter specified tha
Isto say: On the first hundred thousand dollars or an,
lesser amount ot its capital, not than tn,
amount Of such capital the second hundred tho
dollars part thereof than one and three
ters the amount Z" such capital, hundred thou
sand On the third hundred thousand dollars par
thereof than and hall the amount Of