The weekly Ottumwa courier. [volume] (Ottumwa, Iowa) 1857-1872, 1858-05-06
}OLD SERIES, VOL. 10, NO.1O
TERMS, 81 so in Advance.

on receiving satisfactory proof Of the giving
Of such notice for the time aforesaid, the Au-
ditor shall surrender to the order of said cor
poration, any securities which he may hold
for the payment Of any unredeemed notes Of
| said corporation, and the Treasurer shall de-
liver over to such corporation any moneys in
his hands which have been deposited with him
| for such purpose, on the production of such
certificate, such notice to be published at least
three weeks in each six months of each year.
s A. Each corporation organized under the
provisions Of this act may take, receive, or
charge on any loan or discount made or upon
any note or bill of exchange o. other evidence
of debt discounted or purchased by them, in.
terest at the rate of ten per cent. per annum
on the amount OF ary such note, bill of ex-
change or other evidence of debt so discounted
or purchased and no more until the frst day OF
January, A. d. 1863, after which time no more
than eight per cent. shall be so taken, received
or charged; Provided, however, that interest
may be reserved or taken in advance at the
time of making the loan or discounting &C.
cording to the usual rates of banking, OF as
calculated in "Rowlet's Interest Table," and
the knowingly taking, reserving or charging
on any debt or demand discounted or pnrchas.
ed by any corporation rate of interest great
er than that allowed by this section, shall be
held and adjudged forfeiture of said debt or
demand. but the purchaser of bona fde bill
of exchange or note payable at another place,
than the place of such purchase or discount,
and the taking or reserving interest thereon at
the rate aforesaid from the time Of such pur-
chase or discount, until the maturity of such
bill or note shall not be held usurioua, although
exchange on the place where it is made paya-
BILE is at the time of such purchase or discount,
worth a premium, nor shall the discount or
purchase of bona tide bill or note payable at
la place between which and the place Of dis.
count or purchase there may be a difference in
ieschange and the taking in addition to the rate
of interest aforesaid, the rate Of exchange be-
tween such places BE- deemed usurious, Provi-
dei, that in no case shall more than the cur
rent rate of exchange between such places be
taken. S-
45. No corporation organized under the
provisions of this act shall exist longer than
twenty years.
46. The stockholders or shareholders as
used in this act, shall apply not only to such
persons as appear by the books after associa-
ton, to be such, but also to equitable owners
of stock. although the same may appear on
such books in the name of any other person,
and also to every person who shall have ad-
vanced the installment or purchase money
of any stock in the name of any person under
tweniy-one years of age, and while such per.
son remains a minor, to the extent Of such
advance, and also to every guardian or other
trustee, who shall voluntarily invest any trust
funds in such stock, and no trust funds in the
, hands Of such guardian or trustee shall be in
any wayGable under the provisions Of thi .
act, by reason of any such investment, nor
shall the person for whose benefit anv such in
vestment may be made, be responsible in res
pect to such stock, until thirty days after the
time when such persons respectively become
competent and able to control and dispose of
the same, but the guardian or other trustee max
ing such investment as aforesaid, shall continue
sibility devolves upon the person benefcially
interested therein, and in respect to stock
held by guardian or other trustee, under
transfer of the same by third person, or un-
, der positive directions bv third person, for
r such investment, the person making such trans
I fer or giving such directions, and his execn.
tors and administrators. shall for the purpose
loe ho al q Hhnld md fhA
estate of such person, il he be deceas d, shall
be responsible for the debts and liabilities
chargeable on such stock according to the pro-
( visions Of this act.
SAT. No corporation organized under the
provisions of this act, shall put in circulation
in this State the bills or rotes Of any bank or
/, banking company but Of this State; except
business, nor shall any corporation, either di-
rect.y or indirectly, exchange its notes inter-
ded to circulate as money, with any bank or
banking company out of this State, or with the
: agents of such bank or banking company, for
the notes Of such bank or banking company,
with view to circulate the same as money.
S4s. This act to take effect and be in force
from and after its approval by q majority Of
all the electors Of this State, voting for and
against it, an election provided by law, and
not othe-w ise.
STEPHEN B. SHELLEDY. -
5 Speaker Of the House Of Representatives.
ORAN FAvILLE,
President of the Senate.
!, Approved March 22d. 1858.
RALPH p. LOWE.
thereby certify that the foregoing is true
copy from the original roll on file in my office.
ELIJAH SELLS.
Secretary Of State.
Sublime description OF an Escape from q
Mad Bnll.-The bull Toared like the rolling
thunder, and ! ran like the nimble lightning;
J and springing over the fence with the swift
; ness of a meteor, tore my trousers. asunder
with crash as loud as if the globe had been
shivered by comet.