Weekly Council Bluffs bugle. (Council Bluffs, Iowa) 1857-1860, 1858-06-02

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PUBLISHED RY .AEaME0maxl
t-==-==--=2-~asss:sza.k
saaaEM APGn ia.
AN At a&lbarassma General Banklm
: ing inaaa Eaasaag Iowa.
3 s4cg1og as assgs enacted bg The Gssl
. sgal Asaswakaa II ahs STATE II Iesvas Aha
the Aaaais0R pk public aeeeanks u hsEeb
authorized and required 10 cAaas 70 b
: SngraYsd An6 printed In the hass manna
10 kslgs0 against eounkeEfsiaing, sue
|. kYaahelsy 81 circulating nosea in sitnili
. 4&&as af Eaaa noses In blaak OF diTsEen
. denominations nsstsss Than enc dollag
as ha mag kFea sigae 30 time deem ne
sessayg to carry snto effect the provia
! ions al fhia aats Such blAak circulating
! notes shag be roanserssgf ned, nambeEeI
aad registered In proper 6eoks TO b
provided and kept fog thai paFpuse, il
! che 0aaea of the Auditor. aaa under hi
aaFsCsipn by saah Register or registers .
she said Aaaitow shall appsihs fOE tia
tpaFpose 30 that eash sneh circulating
hesea shall bear fhs sigpasurs OF sael
register, ~ one OF snch FegistsTs. OF 81
netss furnished 70 any corporation or.
ganised nAagE the pgDYiaions Of this act
sssos nasfS shan Ten per cent 8f III
amount shalt be in notes Of one dolial
each, not more than ten per cent. irs noAei
of swo dollars each, and not more tha1
twenty 1--we per cent, shall be in notes oi
all denominations under REs dollars and
ust more tiasn fifty per cent. In aotss Of
al denominations under ten dollars,
+ 9 2. Nothing herein contained sAall
be so construed as 70 prevant any sorpo-
ration from procuring their own plate,
dEea and eshsE materials for engraving
aRd pEinsing blaAk notSs and furnishing
them to tAs Auditor aud isaEing them
ever after in his custody and eansEOl, "a
baused and disposed OF as thoagh such
Auditor had procurrd them under the
| preceding segtlon. ......se s.-s., -..-- .-
!. Whenever any eurposs tlop formed
fQs ths pgFp9aa ug Basikapg aaaet tas
provisions 81 tina act snAft IawfufSy
transfer 10 and deposit with the Auditor
any portion of the public stock issued ,
or 10 be issued by the United States, or
any State stocks on which full interest
/ is annually paid, Or the stoeks Of this
/ State tadasssaks aa DO rated at ten per
cent. 4elow their average value in the
city of New York, for thirty days next
preceding the time when such stocks
May be iess on dsboaiE With th q AEdItoF,
aud in no case shall the Auditor issue
bills for banking purposes on bonds Of
sksssOF aay eshsr SsaEe-Qn blob not less
kRAa ak per Geak. is regal &Fly paid,
such corporation shall be entitled to re-
ceIge from the Auditor an amount of
sukh circulating notes Of different de-
nominations, Fegisteyed aad counter
signed as aforesaid, equal to che amount
Of stock actually deposited, rating SAID
stock at ten per o0as, iess than q aver
age value ss aforesaid. .
5 4. A descriptive list Of the cireula-
ting notes so registered and sIgaed,
shAli he delivered 90 the Treasurer, who
shall copy the same in the book herein
after required to be kept BY him, for re-
Fcadng escrIpsiva usta 0f SECURITIES
deposited with him for safe keeping.
} 5. Such corporation is hereby Ru-
IhqyySed, after having executed and
sigasd rhe cirsplating notes registered
and eoautersigped as aiogeEal5, in the
manner prescribed By this ats, paQe
parable on demand at the Banking
House of said corporation within this
State, 80 loan and circulate the same ao~
eordIRg 10 the ordinary course VI Bank"
iRs business, sad Ee sueh corporation
shatl ct a1v time isscs or haTg ia slFeu~
latiou anv mote, draft, Dill Of exchange,
acceptance, certificate Of depont or Qta-
er evidence Of debt which from its char
acter or appearance shall be calculated
or intended to circulate as m0ney, other
EAsa Ssob aqtss qf eITeuEaEloa aS ara 4
this section provided tor.
s 6. Three descriptive lists Of tbe Sc
cuHties transferred to the Auditor as
aforesaid, shalI be made and s,gpeI by
she Auditor and persons making the
transfer, one in q we'll bound book 10 bq
ksns by the Auditor for that purpose,
and cue in a like book to be kepk by the
Treasurer, and oBs IL hook to be kept
by the corporation, Fhlqh t9ek shsu q
all times be open to inspection, and SAID
securities shall then be delivered TO the
Treasurer for safe keeping, who shalt
receipt 10 the Auditor for the same, aud
Who Shall be responsible for any loss Or
destruction thereof growing Out Of or
TsgHising from negii genoe OF the want Of
reasonABis precAutiju and care. The
whole or any part Of said securities may
be fe-deliveFed to the Auditor for tbs
parpaas Of being sold RndsE the p5oFis-
IONS Of this aes, or Asing used aE dispO-
SEQ oE aadaE ans order OF decree #
court, OF Of being returned 70 the owner
in conformity With the provislons Of this
ae4, The Aaditor Ia either case giving o
recei % upoa tina beck kepS by the Treas
urst aforesaid, specifying thereiR the
purpose for which sash re- delivery was
made, which reesipE shall discharge the
Trensarer from aIf further gespoRsibgIi-
III, but the Auditor ahall be liable in the
same manner as the Treasurer ts while
ksepFng OF dispossAg Of sqCh security.
81. ANY person may establish, or any
number Of persons may associate 70 es-
tabIiah Offices OF discount, deposit and
circulation, and BECOME Incorporated
apon tie tsrrnsand conditions, and sub
jess TO chs liabilities prescribed in this
act; baE the aggregate amount Of the
aapsEal stock Of sny Bach corporation
SHALL not be less than 6fty thousand dol
lars; and the Auditor Of State shall n0t
deliver to any incorporation notes for
circulation antil such corporation shall
have deposited with and transferred ia
him the full amount Of fifty shoasnnd
dollars worth Of stocks as naaed IN see.
tiou thrsa Of ghis aGe, the Bams % be
rated 40 provided In said section, and
the capital stoek as required ia this Sec
Giba ssAh be paid up in cash aud bsand
remain 50 much Of the bona fde capital
Of aRch corporation, No porti0R af the
capital stock paid in "a aforesaid shall
be ak ans Eims withdrawn from aueh
eornaFaston so as Is radase tha gemAin-
ing paid up sapiEal hhan actually held
hy and Ia she possession Of such Gorge
ration below che eatimated value Of the
stocks deposited with and then in the
possession Of the auditor or Treasurer
baIuAglug 10 snsh corporation, whieA
ahaM Be paid up in cash, and be and re.
na1R 10 much Of the boaa ada eapttal Of
such corporation No partion Of the
capital stock paid IN shAll be ss any
time or unasF any oissamskanes, With.
drawn from sach corporation, 30 As 10
lreduca the Remaining captsal pad Ia so-
1 saaIly and held BY and tnsn in the pos
| session of such corporation below che
easiaaaled yalas oE TIE atssks shea hcla
b. aud in The possession af he .AadItor
or Treasurer belaaglng to spch corpora
| saOH. f smar
l. 4 a 80 nnmunrAr nm nDnnaann rara.Eaz