The River Falls journal. (River Falls, Pierce County, Wis.) 1857-1861, 1858-09-22

towpship. which, according to said returns.
contained two hundred or more voters; and
such bank or banking association shall, there
after keep an Office i'll sach city or village, for
the redeLl ption of its circulating notes; sucn
office shall be kept open during usual business
hours, between the hours OF ten and three
o'clock, for the presentation and payment OF us
circulating notes. The holder or holders OF
any such circulating notes. may have such
notes presented for pa yment and payment
thereof demanded, and may cause such note or
notes to be protested for non-payment, 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
where such note or notes are made payable
and when such bank or banking association
shall have complied with the provisions of the
foregoing section, such bank or banking asso-
citation shall not be compelled to redeem their
notes at the place where such association shall
| have been first located.
Sec 90 The Bank Comptroller shall, upon
receiving the notice mentioned in the last pre-
ceding section, cause such notice to be pub
lished in The official State paper, and in case
any bank or banking association shall neglect
or refuse to conform to the provisions of said
section, it shall be the duty of the Bank Comp
troller to sell the securities pledged for the
| redemption of tho circulating notes of such
! bank or banking association, and out OF the
proceeds of said sale, to redeem such notes, in
| the manner provided in section twenty -four of
the act of which this is amendatory.
Sth. Add to the first sub division of section
nineteen of said chapter, the following words,
viz: And shall be such as will be readily
distinguished from that of any banking asso-
citation then existing in this State
|
! 9th Strike out all after the word ''require,"
in section twenty-one and insert, "and no per-
| son or association shall commence or carry ON
the business aforesaid, until such person or
association shall have complied with the pro-
visions of this act; and it is further declared
that no bank of circulation shall be allowed to
| carry on such business, unless such bank or
association shall have deposited with the trea-
surer the securities required by law, to the
amount of twenty-five thousand dollars, exclu-
sive of the bonds given by the directors or
stockholders a
10th. Strike out from the twenty third Sec
ton OF said chapter the word 20 fve,' and insert
i'll lieu thereof, the word '.ten," SO that it shall
read, ten days after such notice" also strike
out from the same section the words :" some
newspaper" and insert in lieu thereof, the
words, the official State paper" also insert
after the words "pay the same" the words,
together with all necessary legal fees and ex-
penses of protest and notice..
18th. Strike out from the twenty fourth
| section OF said chapter the words Give days, F"
and insert in lieu thereof the words "ten days,
also strike out from the same section, the words
+" some newspaper" and insert in lieu thereof,
the WORDS i" the official State paper also add
to the same section the following words, viz :
"And in case the Comptrolle, shall deem it
advisable, he may, with the consent of the per-
son or association of persons so falling or refu-
sing to pay such notes. dispose of or sell such
securities, otherwise than in the manner above
prescribed at a price not below par, or at a
sum sufficient TO redeem such notes."
18th Strike out from the twenty-fifth Sec
ton OF said chapter, the word. g in case" at
the commencement of the section. and insert
in l.u thereof, the words, if in the opinion of
the Bank Comptroller" also strike out from
the same section, the word " ninety" and in
sert in lieu thereoftl!c word "sixtv. and strike
out from the same section the words 81 the
Comptrolle"," where tl:ev first occur, and insert
i'll lieu the col, the word "he"
9Th Add to the tweIlty-seyonth section Of
the said chapter the following words, viz =
"And it is hereby provided, that when any
such association shall b5- vote Of a majority
of the stock, determine TO reduce the capital
stock to an amount not less than twenty fl e
thousand dollars, and shall, by lis president
and cashier, furnish to tie Secretary of f;tn. !.
certificate OF such vote, it shall be lawf f I
the Legislature, by statute to permit such -.
ciation,so to reduce their capital stock n. |
thereafter such association snail not be SUI Get
to the payment of the tax as provided in the
sixteenth section Of this chapter, except on the
amount of the capital remaining, to which II
shall have been reduced by such statute and
the Legislature may, upon vote of the stock
holders and a certificate as above provided
authorize the removal of the place of business
OF amy banking association from the place
where such association may have commenced
its business operations according TO the pro-
visions Of the nineteenth section of this chapter
to any other place where under the provisions
of this chapter as amended it may be lawful
for any such association to transact business
18th. Add to the twenty eighth section OF
said chapter, between the words cashier" and
''thereof," the words, cor assistant cashier "
also to the said twenty eighth section, the fol-
lowing words: "And it shall not be lawful fol
any Other person to sign such circulating notes
i'll the name OF such officers, either by proxy OF
warrant of Attorney
18th. Strike out from the thirtv-ffth sec
ton Of said chapter, the word "ninety," and
1 iliScI1 III lieu tleEeOl, the WOfQ "elghfY, alSt
to the said thirty-ffth section, the following
words, viz: From which date such associa.
| ton shall cease to transact the ordinary bust
ness OF banking not necessary in liquidatine
| the affair of the association, and shall not b,
| required to pay the semi-annual tax of three
fourths OF one per cent, as provided in section
| sixteen OF this chapter, except for such proper
ton OF the time as shall have elapsed since tle
first day OF January or July preceding tia
date"
18th. Strike out from section thirty-six O
said chapter, the words {" two years from th
date of said notice" and insert in lieu Thereof
the words, three years from the date of sal,
notice."
18th. Strike out from the thirtv-ninth sec
ton of said chapter, the following words viz
Number of each bill, its date, and by whom
it was countersigned," and insert in lieu there
of, the words, denominations and amount o
! bills so returned"
| 18th. Strike out from section forty-three O
said chapter, the following words: Unit
the first day of January, A. D., 1860. and moi
exceeding seven per centum thereafter"
| SEC. 2. At the general election to be held OF
the Tuesday next succeeding the first Monday
in November, in the year one thousand eight
hundred and ffty-eight, at all the usual places
VI HoIulS elecuoiS LII ILLS kotdte, Ior the elec-
ton of all officers required by law then to be
elected the question whether this act shall &c
into effect. OF in any manner be in force, shall
be submitted to the people, and if the same
shall be approved by a majority of all the votes
cast on the subject, it shall go into effect, other
wise it shall not go into effect or in any nanne,
| be in force.
Sec 3. The votes cast on the subject speci-
fed in the last preceding section, shall be by
separate ballot, and shall be written or printed
or partly written or partly printed on each OF
| them, the words, g For amendments to the
bank law, or against amendments to the
bank law which words shall indicate the vote