The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1858-04-24

BY AUTHORITY.
CHAPTER ia.

AN ACT authorizing General Banking
in the State of iowa.
SECrIoS l. Be AZ enacted by The Gen
erui assembly cftte State Of loca, That
the auditor OF public accounts Is hereby
authorized and required to cause to be en-
gray ed aud printed in the best manner to
guard against counterfeiting, such quantl-
ty Of circulating notes ia s,mlitude OF
bank notes in blank Of different denouina-
tions not less than Que dollar, as he nag
trom time to time deem necessary, to carry
into effect the provisions OF this act, such
blank circulating notes shall be counter
signed, numbered aud registered in prop
or books to be provided and kept for
that purpo c, in the Office Of the auditor
and under his direction by such register
or registers as the said auditor shall up
poin, for that purpose so that each such
circulating notes shall bear the signature
of such register, or one OF such regis
ters, Of the notes furnished to any cor
porstion organized under the provisions
of this act, not more than ten per cent
of the amount shall be In notes OF
one dollar each, not more than ten per
cent in notes Of two dollars each, and
not more than twenty-five per cent shall
be in notes of all denominations under five
dollars, and not more than fifty per cent
innotes of all denominations under ten
dollars.
81. Nothing herein contained shall
be so construed as to prevent any corpo-
ration from procuring their osn plate
dies and other materials for engraving
and printing blank notes and furnishing
them to the auditor and leaving them
ever after in his custody and control, to
be used and disposed OF as though such
auditor had procured them under the
preceding section.
So. Whenever any corporation for
med for the purpose OF banking under
the provisions of this act, shall lawfully
transfer oand deposit with the auditerany
portion of the pubic stock issued, or t.
be issued by the United States or any
! State stocks on which tull interest Is an
nually paid, or the stocks Of this State,
said stocks to be rated at ten per cent,
| below their average value In the city OF
New York, for thirty days next preced
/ ing the time when such stocks may be
left on deposit with the auditor, and In
no case shall the auditor issue bills fol
banking purpose on bonds of this or any
other State on which not less than sill
per cent is regularly paid, such corpora
| I'LL l., n
auditor an amount Of such circulating
notes of different denominations regis
tered and countersigned as aforesaid
equal to the amount of stock actually de
posted, rating said stock at ten 3er cent
less than its average value rs aforesaid.
81. A descriptive list Of the cireula
ting notes SO registered and signed, shal
IA .,aliyered to the treasurer, who shal
cow the same in the book here'natte
rea.;red. 20 be aent by him, for record
ing descriptive lists OF sureties depos''s'
with him for safe keeping
SIS. Such corporation is hereby au
tnorized, after having executed and sign
ed the circulating notes registered an
countersigncd as aforesaid, in the man
ner prescribed by this act, made payabl
on demand at the banking house OF sal
corporation within this State, to loan an
circulate the same according to the ord
nary course of banking business, aud
ruch corporation shall at any time, lss''
have in circulation any note, draft, bi
OF ,hauge, acceptance, certificate oi q
o' eAe other evidence Of debt, wh'c
pps' oi "aracter or appearaoe, shaii
irom its o. intended to circulate
caicoiatea o. 'au such notes Of circul
money other =. section provided fo
tion as are in tine -;..;.o G.,. of !,
SO. Three desc = the au,Iitor
securities transferred ard signed
aforesaid, shall be made .nc the tran
the auditor snd pcrsous MAXI % be ke
| far one in a xrnn hound book