The Council Bluffs nonpareil. [volume] (Council Bluffs [Iowa]) 1857-1867, 1858-05-08

in each year, which statement shall be pub
lishcd quarterly in the nearest newspaper,
and such statement shall contain:
Frsi.-The amount Of ccpitaf stock Of
the corporation paid in, and invested sc-
cording to law.
Second.-Thc value Of the real estate,
specifying what portion is occupied by the
corporation for the transaction Of business.
Third.-The debts owing to the corpora
ton, and the date and amount Of each bill
or note discounted, and when tho same MAS
made payable. ,........ ~. y. ..ssz.zse.
Fourth.-The amount Of debts owing BY
the corporation. and the amount deposited
with other banks. ~
Fifih.-The amount Of notes or bills then
in circulation Of said corporation, Of loans
or discounts and specie On hand what
amount Of notes of other banks is held by
such corporation, and the amount loaned to
directors and stockholders in such corpora
ton. sa.. <l-a. f z.
Sirth.-The amount of suspended debt
held by such corporation. II
Serenth.-The am0uns Of per centnge Of
deposits on hand. s@@ts @@ t1's. @3'sS
3 40. Every corporation that shall neg
lect or refuse to make out or transmit the
statement required in the thirty fifth section
of this act, shall be restrained from tho
further prosecution Of the banking business,
and shall forthwith 90 into liquidation.
Al. Whenever any corporation desir-
our Of relinquishing the banking business,
shall have redeemed at least ninety per cent
Of their circulating notes, and shall produce
a certificate from the State Treasurer, Ger.
tifying that such corporation has deposited
in his Office, subject to the order of the Au-
ditor, sum of money equal in amount 70
the notes of such corporation then outstand-
ing, it shall be lawful for the Auditor to
receive the same and to give up all the Sc
curities heretofore deposited by such cor
poration, for the redemption Of the notes
issued, which sum so deposited with the
priated solely for the redemption OF tho
outstanding notes of such corporation sub
ject to the provisions hereinafter mentioned.
: AZ. Every officer, agent or clerk of any
authorized by this act, who
shall willfully and knowingly subscribe or
make any false statement or false entries in
the books of such interpretations, or shall
subscribe or exhibit false papers
with the intent to deceive any persons au-
thorized to examine as to the condition of
such incorporation, or shall willfully or
knowingly subscribe or make false reports,
shall be deemed guilty Of felony, and upon
conviction thereof shall be fined not exceed
ing ten thousand dollars, and be imprisoned
in the State Prison not less than two nor
more than fourteen years, and be forever
after rendered incapable of holding any
Office created by this act. 3 :,
: 43. Such corporation, after having
complied with the provisions of the preced-
ing sections of this act, may give notice for
two years in paper published at the seat
of Government, and also in ut least ono
paper published in the co.nty where the
said corporation shall have been located,
that all circulating notes issued by said cor
poration, must be presented at the Auditors
Office within two years from the date of said
notice, or that the funds deposited for the
redemption of the notes will be given up to
the corporation, and on receiving satisfac-
tory proof Of the giving of such notice for
the time aforesaid, the Auditor shall sur
render to the order Of said corporation, any
securities which he may hold for the pay
ment Of any unredeemed notes of said cor
poratiuD, and the Treasurer shall deliver
over to such corporation any moneys in his
hands which have been deposited with him
for such purpose, on the production Of such
certificate, such notice to be published at
least three weeks in each six months of each
year.
Al. Each corporation organized under
the provisions of this act, may take, receive,
or charge on any loan or discount made or
upon any note or bill of exchange or other
evidence of debt discounted or purchased by
them, interest at the rate of ten per cent.
per annum on the amount of any such note,
bill Of exchange or other evidence of debt
so discounted or purchased, and no more
until the first day of January, A. D., 1868,
after which time no more than eight per
cent. shall be SO taken, received or charged;
Provided, however, that interest may. be re-
served or taken in advance mt the time of
making the loan or discounting according
to the usual rates of banking, or as calcu-
lated in ''Rowlet's Interest Tables" and
the knowingly taking, reservins or charging
on any debt or demand discounted or pur-
chased by any corporation rate of interest
greater than that allowed by this section,
shall be held and adjudged forfeiture Of
said debt or demand, but the purchaser of
a bona tide bill of exchange or note paya-
Bile at another place, than the place of such
serving interest thereon Mt the rate afore-
said from the time of such purchase or dis
count, until the maturity of such bill or note
shall not be held usurious, though ex-
change on the place where it is made paya-
bic, is at the time of such purchase or dis
count, worth a premium, nor shall the dis
count or purchase of a bona fde bill or note
payable at n place between which and the
place of discount or purchase there may be
. difference in exchange and the taking in
addition to the rate Of interest aforesaid,
the rate of exchange between such places be
deemed usurious, Provided that in no case
shall more than the current rate of exchange
between such places be taken.
s As. No corporation organized under
the provisions Of this act, shall exist longer
than twenty years.
s 46. The stockholders or shareholders
rs used in this act, shall apply not only to
such persons as appear by the books after
association, to be such, but also to equita-
bic owners of stock, although the same may
appear on such books in the name of any,
other person, and also to every person who
shall have advanced the installment or pur-
chase money of any stock in the name OF
any person under twenty-one years of age,
and while such person remains a minor, to
he extent of such advance, and also to every
guardian or other trustee, who shall volun-
,nrily invest any trust fund in such stuck,
snd no trust funds in the hands of such
guardian or trustee shall be in any way ha-
Ole under the provisions of this act, by rea-
son of any such investment, nor shall the
person for whose benefit any such invest.
nent may be made, be responsible in respect
to such stock, until thirty days after the
time when such persons respectively become
and able to control and dispose
Of the same, but the guardian or other trus-
Zee making such investment as aforesaid,
shall continue responsible as stockholder
until such responsibility devolves up
he person benefcially interested there
n, and in respect to stock held BY
! guardian or other trustee, under trans
Ter of the Same by third person, or under
positive directions by third person, for
Iuch an investment, the person making such
ransfer or giving such directions, and his
Executors and administrators, shall, for the
purpose of this act, be deemed n ssockhold-
,r, and the estate of such person, If he bo