The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1858-04-17

outstanding notes OF clrcuiatlon ana
whenever the amount Of its outstanding
notes of circulation shall exceed the
above named proportion. no more of its
notes shall be paid out, or otherwise put
10 circulation by such branch, nor shall
such bank increase its liabilities by ma
king any new loans or discounts, other
than purchasing bills of exchange, pay
able at sight, nor make any dividends
of its profits, until the required portion
between its outstanding notes Of circula-
ton and gold and silver coin on hand
shall be restored
s32. Each branch of the State bank
shall be required to keep in its vaults
over and above the amount required for
its protection and REDEEM ption of its cir
culation as required in the last proceed
ing section, at least twenty Eve per cent.
of its current deposits, and shall be pro-
hibitcd from paying interest on current
deposits.
S SO. No branch authorized under
this act shall at any time be indebted or
in any wav liable to an amount exceed
ing two-thirds Of its capital stock at such
time actually paid in, and remaining as
capital stock undiminished by losses or
otherwise except on the following &C.
counts--that is to say:
1st. On account of its notes of circu-
lation.
2nd On account moneys deposited
with or collected by such branch
Sd. On account Of bills of exchange
or drafts drawn against money actually
on deposit to the credit of, or due to
such branch.
4th. Liabilities to it's stock holders on
account of money paid in on capital
stock, dividends thereon and undivided
profits.
Nor shall any hranch, either directly
or indirectly, pledge, or hypothecate, or
exchange any of it's notes of circulation
for the purpose Of procuring money, to
be paid in on its capital stock, nor pledge
or hypothecate directly or indirectly any
of such notes to be used in its ordinary
banking operation.
5 81 No branch shall, during the
time it shall continue it's operation as a
branch, withdraw or permit to be with
drawn, either in form of dividends or
loans to stock holders for a longer pc
Rod of time than four months, or in
any other manner, any portion of its
capital stock; and if losses shall have
at any time been sustained by any branch,
equal to or exceeding its undivided prof
its then on hand. no dividends shall be
made, and no dividends shall ever be
made by any branch while it shall con-
tinue it's barking operations to any
amount greater than its nett profits then
on hand, deducting therefrom its losses
and bad and suspended debts; and all
debts due and unpaid for period of six
month, unless the same shall be well Sc
cured, and shall be in the process of col
lection. shall be considered bad or sus-
pended debts, within the meaning of this
! section.
S35. The directors of each branch
shall semi-annually on the first Monday
in May and November, declare divi-
dend Of So much Of the nett profit of the
branch as they may deem expedient and
shall be approved by the State bank I;
and on each dividend day the cashier
shall make full, clear and accurate
statement of the condition of the branch
as it shall be on that day. after declaring
the dividend, which shall be verified by
the oath of the cashier, president and
two Of the directors and similar state
ments verified in like manner, shall also
be made on the first Monday in each
month in each year, which statement
| shall contain:
lst. The amount Of the capital stock
actual, paid in, and then remaining as
the capital stock of the branch.
I'd. The amount of the bills or notes
of the branch then in circulation, spcci-
| fyirg the amount of each denomination
Sd The greatest amount in circulation
at any time since the making of the last
previous statement, as shall have been ex-
hibit ed by the weekly statements of the
cashier, specifying the time when the
same occurred.
4tb. The amount of debts of every
kind due to the branches of the State
bank of Iowa. the amount due to other
to banks not Of this State.
9Th. The amount due to depositors.
| 9th. The total amount Of debts and
! liabilities # every description. and the
greatest amount since the making of the
last previous statement, specifying the
time when the same occurred. a. exhib-
tied BY the weekly statement of the
| branch
18th. The total amount Of dividends de-
clared on the day Of making the state.
| meBt.
Sth The amount Of gold and silver
coin and bullion belonging to such
branch, and in its possession at the time
of making the statement, designating
! the amount of each.
| 9th. The amount subject to be drawn
at sight, then remaining on deposit with
solvent banks, or bankers of the country.
specifying each city or town, and the
amount deposited in each.
10th. The amount then on hand, of
bills or notes issued by branches of the
State bank Of Iowa, the amount issued
by other banks Of this State, and the
amount issued by banks not of this State
18th. The amount of balance due
from branches of the State Bank Of Iowa,
the amount due from other banks of this
State, and the amount due from banks
not of this State, excluding in the latter
case, deposits in the cities of New York,
Philadelphia, Boston, Baltimore, and
other cities and towns, subject to sight
drafts.
12th. The amount on hand of bills,
bonds, notes, and other evidences of
debts, discounted or purchased by the
branch, specifying particularly the
amour. Of suspended debts, the amount