St. Charles City Republican intelligencer. [volume] (St. Charles City [Charles City], Iowa) 1857-1861, 1858-06-10

apply and control in ali rcsrs,,. ary h,,'rcr Wy ti
conduct business under the provisions this law whcth
er the word banker Is not used any such pruyi
On
80 There shall be elected at each regular bicuma
session Of the General Assembly by the houses il
, convention assembled, three electors of the State
Bank Commissioners, whose duties shall he To maxi
scmiannral examinations and much ottncr they
ai'i de'fn advisable in respect to the affairs and husi
ness oI associations Incorporated under the provisions
tins act and in respect the condition and management
th"rcoi and the amount of specie hand for the
denpt N OF notes and percentage of deposits hand
alI also to inspect, the securities flied with the AitCr
and Treasurer so as 10 be able to determine whether any
cialsc mas been made IN said securities the liza
ohus OF the corporation, and also to determine wheth
or sad bank complies with the provisions Of this law,
ana 10 report thereon u the Auditor and To- each Copo
ration. such commissioners shall have power to ex-
anime all books, papers and documents pertaining the
m me oI the corporation, and to swear or affirm all Of
es agent or others connected with the CORPORATION
respect TO any matter thing about which they hav
Tue fsht to inquire and their reports shall be Published
III some newspaper published the seat of government
and IN newspaper published in the county in which the
bank does business, and there be no paper published
IN Snch county, then IN paper Published in the
narest county thereto Provided that nel of the com
mSoneTS elected in accordance with the provisions Of
H section sh'i! be engaged either directly indirectly
IN banking under the PROVISIONS Of this act either
socS hodcr director or under officer and should eitef
ni them so engage IN banking elected il shall be con
'rued as frl! resignation Of his Office commissioner.
81 such Bank Commissioners before entering upon
inc duties Of their oce shall take and subscribe
"ith or affirmation faithfully and nparaly perform
all the dLtcs eBoined upon and required m be performed
by trm, which said oath affirmation shall be filed in
| the Office Of the Secretary Of state
81. Ii the said Bank Commis~ toner's shall ascertain
upon any examination which they make that
change has been made in the securities deposited with
the treasurer or that any part thereof has been lost de
str"Eel oE Improperly Withdrawn, ia any way or
manner misnei or missapped, that securities have
nom any cause become ltSsened ia value or in cen
Tor the redemption Of bills Of circulation they shall notify
e PRESIDENT and Ca bier of such corpo 10 be
an ce by any such te of fact o the discovery there
ana require the transfer and deposit OF other security
OF me IKE value with those originally transferred sup
ply the place u those changed estruyri or mprui
cry withdrawn, or which shal have become Insufficient
security aforesaid in reasonable time 10 be x.d by
SAID Cms sioncrs that said corporation surrender tn
The Auditor sHicilht amount of bills be funded To re-
ducc the liability Of such corporation such R that
"" securities III possession Of the Treasurer Will be suf
hceut for the redemption nf all Surrcndered
ana ~ east oi any failure TO comply with any such req,
uS' 't commissioners shall report the Facts 10 the
Auditor, wras IA all the other corporations incorIor
tel under the provisions ct this act and the Auditor
ssEI tIcreu~n proc ed To put such dcisutg incorrora
ton INTO liquidation provided for in uf failure To
retecm CT pay notes demand. II the ssid bank
commissioners shall ascertain upon any such rxamna
ton that any bank has any manner tlile-i o. comply
with the provisions Of this act they hail immediately
report the same To- the Auditor, who shall trrcupon pro
ceed to put such defauting Incorporation into quia0n
or bills on demand.
80. Thomas Hedge, of Dcs Moincs county. George
l. hNcni"rt at Scott county, +. Cad Bryan 0I Warren
county, Thomas 4. Graham, Of Tama county and f. C.
i"i'rr Of jackson county shall he and they are hereby
appointed Bark Commissioners, Who shall hold their
urc until their successors are C. ted and uuaIn, ~a,t
commissioners shall during their term of Office p.rfr,n
the duties prescribed hy tins act
81 The Bank Commissioners created by this act
~hd rach he entitled To- receive for their services for cy
cry DAY actually spent in making the sciniannua exam
nation 10y thus act required the Of five dollars per
dnS winch sa! sum shall be app"rInei among the said
u"h' 'H ul "her IN proportion tu the amount
Of their capital, and when the >.,n bank commits ....
tSitA in each year and shall make such vstlton said
bank hall pay each "i said commissioners the Il
FIVE dollars for every day actually spent such
ti"n.
Ss said Bank Cumn,iss toner's may cause such semi
! annual examination to be made by any of
their number they determine but all action by
them contemplated in section IS oi this shall be de
ched by a majority.
30. Every corporation who shall hereafter carry on
banking business under the provision, of this act shall
make out and transmit the Auditor Of state n full
statement II It. Affairs they existed on the first Mon
day of January, April July and October Of each year
verlhe by the oath oi It's President Cashier which
statement shah be deposited in the Office ol said Aud tor
by the 10th day each Of said months In each year
which statement shall be published quarterly in the
nearest newspaper, and such statement shall contain:
First-ihe amount of capital stock Of the corporation
paid III, and invested according TO law.
$ccond-rhe value of the real estate. specifying what
portion occupied by tbc corporation tor the
uf business.
Third-The debts owing to the corporation, and the
date ani amount OF each bill note discounted, aud
when the same was made payable,
Fourth-Ihe amount Of notes or bills then in circula
ton Of said corporation, Of loans discount and specie
on hand what amount of notes OF other banks Is held by
such corporation and the amount loaned directors and
stock holders in such corporation.
SiNtt-Ihe amount Of suspended debt held by such
/ corporation.
Sevcuth--Thc amount of percentage of deposits on
hand.
40 Eevry corporation that shall neglect or refuse IN
make on, transmit the statement required the thirty
h section of tins act sh,l be restrained from the fur
ther prosecution oi the banking business, and shall forth
with go into liquidation.
Al Whenever any corporation desirous Of rein-
gushing the banking business, shall have redeemed at
least ninety cent Of their circulating notes and shall
prOdUce certificate from the state Treasurer certifying
that such corporation has deposited in his Office subject
10 the order Of the Auditor, sum Of money equal in
shall be lawful for the Auditor TO receive the and
10 give UP all the securities heretofore by such
corporation for the redemption o the sued which
sum deposited with the State Treasurer aforesaid
shah be appropriated solely for the redemption OF the
out andng notes Of such corporation subject the pro
visions hereafter mentioned.
~ Every officer. agent clerk of any ncorpora.
ton authorized by tins act who shall wiiuiy and know
ucy subscribe make any false statement false
tres the books II such Incorporation or shall know
ngy subscribe or cAniht false papers with the nt2nt
deceive any person authorized 10 the con-
dlton OF such incorporation, shall wllfuy or know
ngy subscribe make false reports, shall be deemed
guilty Of felony aud upon conviction thereof shall be
lined exceeding ten thousand dollars and be- irnpris
Oncd in the state Prison not less than than
fourteen years and be forever after rendered incapable
of holding any oltcc created by this act
/ 10. such corIcTaton, after having complied with
the proceeding sections oi this act may give notice for
two years in paper published the scat OF govern.
men, and also IN at least one paper Published in the
county where the said corporation shall have been oc
tod that all circulating notes issued by said corporation
must be presented the Auditor Office within two wears
for the redemption Of the will he given up the
coipofduon, anu on sfc'"'y Pfoo oi te CIV
ng o Such notice Tor the unia aforesaid, the Auditor
sha surrender 10 e otaet oi aai corporation, any Sc
cUrIeS wh'h ne may hoid ior the payment q" any un
r1de.ned notes oi sad corporation, anu t1e ca'urrr
shall deliver over 10 such corporation any moneys II his
hand which have beeu deposited with him for such pur-
pose on the production OF su'h cefthcate such notice TO
ne pdehei at "as' urce weeAs III ea.h siA months oi
ri'h !ear.
, u. f4'h c"rlnratHh orsdtl1r nhatr uic WnSls'
ions {" TN ACT may "h receive, OF charge on any maii
l,lp uptp h lpi rlapps
or "ihf eNid,hCe "' teot discounted or purchased ny
them interest ~ 'he r.'o VI zen lef cent per inn OH
the amount "l any soth hot' NH oi cNch'hSr or o,cr
evidence 81 dcbt :" al't"uht," or Puicnseu, anu no
more uhi 'i' hIst "a! "a 5iuuaI! a. ~ iSo' ailer
winch TINE no more 'hah eiet per cent sha DE so u,
kcn received or chaIsod iroVm.d, however th'h IA
ercst may ne reserved Z" taken III advance AZ ue nih
OF making tue lean or diSc"nntS ae'",1InG 70 me u'na
rates oil banking or as eaeuat'n III kow"s interest
tables, ana Tue hnOwhsy taxing Tr>erNils or ehare'
ing 'n any d"ot OF hthHa us'ouhtc" or purchased hN
any corporation rate 81 interest greater Than mat allow
ed ny tins section shaI DC he,i ana tdudged forfeit