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


Faa 81 which eavsg aea8as the psTMon as
nsRAonA A9ornsaid shalg bagome h0d1
: polite auA aaTpegate, by me name as.
anHned III aforesaid, for and daring Easa
time Hxed il the saEGi iaaAte, which shaI
not Be moss than twsatY ysafss and hy
4 suah aams shA1l have power % lnak'
lconssas4s, 10 grant and Eeeeive, to 50
/. and be saad, 10 plead &nd be inpleadad
! / Fl all eaarss saa places vasTeia sasSsaa u
; / Judicial proceedings nay be had d
4 have and 10 usa common seal and alsel
; the sane al pleasure 30 have, hold. uss
! and enjoy pEopsrsy, real, personal, and
. mixed vita the Esntas Issues aRd proElfs
1 thereof, as hereinafter provided, and tc
exercise ali other powers conferred by
/. this ast and all grants or aonyey aness 81
: real estate shall be under the seal of tss
I corporation, signed by ths president end
gountersigusd By the cashier.
sI 8 8, A copy OF the eaFIlhcata required
, by The eighth seetidn Of thls aess daly
] certified By the Recorder Of the eoaasy
and Secretary Of State, OF by sitheE of
! these 0FEssgs, May be- aa@d - sytdenSa
, in all courts and places, By any suah
corporation, or any person wasu saeh
! sEidanaa may ha Rssessagy or anY elYil
or crimiRal trial.
/ o 10 Sash corporations shall hare
p0wes 10 carry on ths bssinssS os bank
! ing By diso0nnsing billss notes and other
! syideacs Of daht -hy recasying deposits,
by buying and selling gold aEIa siFVsF
bullion, foreign coins and bills Of sx-
change, by loanlng money On personal
secaEitys and by exerslslaE aaoh ipai-
dental poweTs ss may be necessary TO
carry en such business, may choose one
/ "a tsissFs humbcrs as ngastaa ank, and hPa
/ point q Cashier and such ether officers
and agents a. thaiE business may relaiys;
1 but no loans ahaA De made, uoE shaN
| any bill, note or othaE evidence OF debt
be AiseoaRta8 a parqhasBd Aaviag more
thAn four months 10 run before maturl-
ty; and Ia all cases, personal security
shall be required.
! s IL. The shares az aush corporations
shall be deemed personal property, and
shall ba aY AnafeTabla on tha books ak the
eorporati0a, sniy and In sasa Ea &nnsE as
may be provided in the bylaws Of sueh
corporation; aud every person becoming
a shareholder By such trahsfeg, shall in
proportion to his shares succeed TO all
che rights OF che shareholder OF share
holders bT whom the transfer was made;
no change shau ke Imaae IN ths articles
of Association, o she shave-ho ldeFs
or members thegsoFs BY which the rights,
remedies or securities OF its existing
| creditors may be impaired, such eOfpo-
ration shall not be dissolved By the
death or insanity Of Auy Of the share
! holders therein, vi hen there Is more than
enc shareholders, IN such assoelatipn,-
| Taxes shsH be levied on aBd paid l,g che
| corporation, and not upon the !ndlvida-
/ al stockholders: the Ealue of the prop
ertv 20 be aaeertaiHea annaallv by iAs
Bank Commissioners herein provided f0rj
and the rate af taxation shalt bgtbs same
as that required to be levied On other
tRxabtg property By the rsVaHug tags of
The State.
5 Il. Contracts made by any such cor
poration; and all notes By tham issasa
and nat in circulation, shall bo sigasd
| by the President and Cashier thereof.
and all suits, aetiogs and proceedings
brought or prosecuted By, Or ig ahAF
Of auoh corporation, may be brought and
prosecuted in the name of the corpora
! lion; and no saoh sait, action, Or pro-
ceeding shall abate hY reason Of tbs
death, resignation or removal kroIa olhas
of any President, bat may hs 0oBtiaa-a ID
ths same as If such death, rasigBaEt0a og
removal from 0f5ea had nus aaken place.
5 l3. Any person or persons havfmg
demands against any su6h corporation,
nay maintain action or actions against
such corporations, which suits or actions
shall not abat8 bv reason of the death,
resignation, or removal from oEtGa OF
any President OF other officer, but may
be continued and prosecuted to iudgmeas
against tks corporation; and all ludg-
ments and DEGREES obtaiReA AaAiEIt such
corporation for any acbt or liability of
suah corporation, shall be enforced d.
galuSt the property Of the sam9 except
such judgmkais or aearoas asmay be Oh
tanned against shareholders as herein
provided. !
5 Ii. The Auditor shall give to any
corporation 80 tEaasf szing stocks II pur-
suance Of provisions OF this act, pow
er Of Attorney to receive interests on
dividends thereon, and apply to their
g2e; bus sush power may be rsTOk I'd up
on sush asVpaTatqa tsling to redeem
the circulating notes SO issued, CT wReR-
ever in the opinion Of The Aud. Tor the
principal Of fhe stocs shall become in
sufficient securely; and whenever any
such corporation shall 60 iRio liquids
,,aE, or IN any other manner proceed t.
close up its aBairs, lie Auditor shall,
upon application Of the owneF or BWnsEs
os such stock, ra-trausfer the Same OF
any part thereof to such owner Of owu-
ers agon receiving and aancslling an
/ equal amount Of sush siEeglating notes
! delivered ta him by suoh corporation 10
such manner that the circulating notes
outstanding, shall always be secured IN
fall By the pledge Of stoeks, vhnh ean-
ealled circulating notes after dSstrip-
tive lists thereQf hays been made aud re-
corded by the Auditor and Treasurer
shall, in presence of these officers be COZ
samed ey busning and ia cas- mar shall
! fan 10 so burn any notes retuSnoito them
| for that purpose, they shall be deemed
/ Kuiltr of felony, aud liable 30 q fine OF
not more than 5000 and imprisqqmept
I'D 4ha PeniesnsiAry net lass shaa flvs aor
s1asra than tseaty. S. sB ~ ( s.
| SIS. In case such corporation shall
fan or refuse "a pay apy bill Or note on
| demand ia the manneT specified Ia tho
| 28sh secti on Of this act, ths Auditor, Af-
ter ten DAYS nosies giveuisi two aswspa-
pers printed in tho city Of New York,
SHALL proceed 10 sell ct pubiSs auction IN
the city % New York, tie public stock 20
pledged, or such portion IS may be ace.
| essaFy, and out Of the proceeds Of kpch
sale shall csnesa aad pay Shs aAia bill or
note defguls In paying which shall have
| been made as afoEa@atal3 bMk npthing In
this act contained shall be considered as
implying amy pledge o. shs Esart Of the
State for the payment OF sam bills OF
nosss beyond NE Prepgg Application Of
the securities pledged " tte Auditor fer
their redemption. ---.ns
| 8 l6. Ths public stock deposited with
the Auditor by sny such corporation shall
be held, Jr&t, for the security Of notes
al such corporations pat in circulation
as money ualii tins ag1ae are redeemed as
herein provided, aeeoad, for the payment
Of asposIteRs, Ehir4, for the paylasnt Of
all other BabfliEies aEIa tha Sx8sss for
shs aso Of stockholders,
II 8 II. Thg piAss, dies and materials,
which may be furnished by The 4ndjkor
4 for the printing and marking 81 Che notes
provided Cor haxeby, shall remain in his
custody and under his direction, aud the
expense iaceyrsd ID sSeeaAiAg che pro-
visions u khis acs shail BIZ audised ausa
xattfed ny the Auaftur, Apd paid our Of
any measg In the treasury nos otherwise
appropriated /; and foF Ehs parpose Of re-
imbursgng the same, The said Andlsar II
\ - ~ S@f.sA anS EMssS 4 k,ss&5 - 49,.