Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1858-09-29


within thirty days after this act shall take eff
i, feet, file with the Bank Comptroller notice
il writing, designating some city or village
= situated III township, which, according to said
returns, contained two hundred or more vot-
ers; and 5uch bank or banking association
shall thereafter keep an office in such city Or
village, for the redemption OF its circulating
notes: such office shall be kept open during
usual business hours, between the hours of ten
and three o'clock, for the presentation and paw
mcnt Of its circulating notes The holder or
holders Of any such circulating notes NAV have
such notes presented for payment and payment
and payment thereof demanded, and may cause
such note Or notes TO be protested for non paw
ment- at the place SO designated in the same
! manner and with like effect as if the same had
been SO presented, demanded and protested at
! the place whose such note or notes are made
! payable; and when such bank or banking as
ISOLATION shall have complied with the provis-
! ions OF the foregoing section, such bank or
! banking association shall not be compelled TO
redeem their notes at the place where such as
sociation shall have hcen first located
/ SEC. %. The Bank Comptroller shall, upon
receiving the notice mentioned in the last pre-
cedlng section, cause such notice to be pab-
ilahtd il the oficill State paper, and in case
am bank or banking association shall n rlect
( or refuse To conform to the provisions Of said
! section, it shall be the duty of the Bank Comm
troler to sell the securities pledged for the re
domp Of the circulating notes Of such bank
or banking association, and out Of the proceeds
OF said sale, to redeem such notes, in the man
ner provided in section twenty-four CT the act
Of which this is ameldotorv
Stb. Add TO the first subdivision of section
nineteen Of sid chapter, the following words,
VIZ: And shall he such as will he readily dis
tngushed tom that OF any banking association
then existing in tits State"
9,h. Strike out all after the word ''requi G."
III section tweuty-one and insert, land no per
son Or association shall commence or carry on
the business aforesaid. until such person or as
ISOLATION shall have complied with the proyis-
ions OF this act; and it is further declared that
no bank OF circulation shall be allowed 10 carry
on such business, uni s. such bank or associa-
ton Shall have deposited with the treasurer the
securities required by Law, TO the amount of
twentE-tive thousand dollars exclusive of the
bonds given by the directors or stockholders"
10th. Sulke Out from the twentv-third sec
ton OF said chapter, the word five" and in
sert II lieu thereof the word ten" so that il
shall read, zen DAYS after such notice" also
strike out from the same section the words
some newspaper" and insert in lieu thereof,
the words, the oticia! State paper" also in
sert after the words "pav the SAME" the words
)
penses Of protest and notice"
lin. Stike out from the twenty-fourth see
ton Of said chapter, the words, five DAYS"
and insert in lieu thereof the words ten
DAYS. also ssiike out from the same section.
the words ''some newspaper" and insert in iic;
thereof, the words The Official State PAPER
also add 70 the same section the following words
viz: And in case the comptroller shall deem
1t advisable, he MAY, with the consent Of the
ny +fNy, Of
/ refusing to pay such notes, dispose OF OF sell
such securities, otherwise than in the manner
above prescribed, at price not below par. or
at sum sufficient 10 redeem such notes"
18th. Strike out from the twenty-ffth section
OF slid chapter, the words, in case" at the
commencement Of the section, and insert in
lieu thereof, the words, IF, in the opinion of
the Bank Comptroller" also st,ike out from the
same section, the word ninety" and insert in
lieu thereof he word 'siAty," and strike out
from the same section, the words. the Comp
troiler," there they first occur, and insert in
lieu thereof the word he"
18th. Add to the tventy-seventh section Of
the said chapter tie following words, VIZ: And
t1t is hereby provided, that when any such asso-
clation SHAH, by vote Of the majority of the
s.octz 0htagnline 10 reducc the capital stock to
an amount not less than twenty-five thousand
dollars, ard shall, h. It's president and cashier,
furnish to he Secretary OF State, q certificate
Of such voice, it SHALL be lawful for the I.ogis-
Iature, By statute, TO permit such association 50
TO reduce their capital stock and thereafter
such association shall not be subject to the pay
ment Of the tax as provided in the sixteenth
section Of this chapter, except on the amount
OF the capital remaining, to which il shall have
been reduced by such statute; and the Lcgi5-
lature may, upon vote of the stockholders
and certificate as above provided, authorize
the removal Of the place of business OF any
! banking association from the place where sacl
. association may have commenced its business
! operations according to the provisions Of the
nineteenth section of this chapter, 10 any 9th
e. place where, under the provisions q th5s
chapter as amended, it may be lawful for any
such association to transact husincss.n
18th Add TO the twentv-cighth section OF
said chapter between the words 'caShier" and
"thereof,' the words ''or assistant cashicl.;"
also to the said tventv-eighrh section, the fol
loving words: And ii shall not be lawf full for
any other person 10 sign such circulating notes
il the name OF SUch officers either by proxy or
warrant of attorney.
18th. Strike out from the thirty-if,h section
Of sud chapter the word ninety" and insert
in lieu thereof. the word ''rightv;" also add TO
the said thirty-tihh section, the following words
VIZ: 'From which date such association shall
cease to Transact the ordinary business Of bank
ing not necessary in liquidating The affaic Of
the association, and shall not be required to
pay the semi-aDnuaI tax Of thrcc-fouIths of one
per cent, as proNi ded in section sixteen Of this
chapter, except fer such proportion of the time
as shall have elapsed since the frst tl,v Of Jan
Uary or July preceding that date
l6;h. Strike cut from section thirty-six Of
said chapter. the words two vcaIs from the
date OF said notice. and insert in lieu thereof
the words three Yeas from the date Of said