Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1858-09-08

or banking association and out Of the proceeds
OF SAID sale, to redeem such notes. in thc man
ner provided in section twcnty-four of the act
OF which this is amendatorv
Sth. Add to the first subdivision of section
nineteen of said chapter, the following words
VIZ; And shall be such as will be readily dis
.,hsuisheu from that of any banking association
then existing IN this State"
''h STRIKE ont all after the word ''require"
III section twentv-One, and insert land no nor
son or association shall commence or $500 -,
the business aforesaid, until such nerson or as
soclatlon shall have complied with the nrovis-
ions OF TINS act; and it is further declared tba,
no DAMN OF circulation shall be allowed to carry
on such business, uni less such bank mr. ,sSon;1I
ton shall have deposited With the treos,rn. -.
securities required by law, to the amount of
twenty-five thousand dollars exclusive of tL,
bonds gwen by the directors or Stockholders, ;,
lo'h. strike out from the twcntv-third see
ton OF said chapter, the word five" and IN.
sert IN lieu thereof, the word ten" so that II
shall read ten days after such notice ;" also
strike out from the same section the wordS
some newspaper" and insert in lieu thereof
the words, ''the official State paper" also in
Sert after the words pay the same. the words
together with all necessary legal fees and ex
penses of protest and notice"
llth: Strike out from the twel1tv,fourth Soc
ton OF said chapter. the words "fvc Gays-
ana insert IN lieu thereof, the words ten
uaES; also strike out from the same section
',ie words some newspaper" and insert in lieu
; thereof the words ''the official State manor
also add to the same section the followin9 nor,.
VIZ; And III case the comptroller shall deem
1t advisable, he NAV, with the consent of tho
person or ASSOCIATION of persons so faiIipo or
refusing 10 pay such notes, dispose of or sell
Such securities, otherwise than in the manner
ABOVE presented, at price not below par. or
at sum sufficient to redeem such notes.
l2th. Strike out from the twentv-ffh section
OF SAID chapter, the words, ''in case" at the
commencement OF the section, and insert in
ne" shereol' the words, If, in the opinion of
the Bank Comptroller," also strike out from the,
same section, the word ninety" and insert in
lieu thereof the word "siNtv," and strike ont
from the same section, the words, 'thc Comm
troLer, where they first occur. and insert ia
e lieu thereof, the word he"
{ loth Add to the tWcnty-Scventh section of
the said chapter the following words viz. ana
t 1t is hereby provided. that when any such asso-
cation shall, by vote of the majority of the
stock, determine to reduce the capital stock to
an amount not less than twenty-five thousand
dollars and shall, by its president End cashier
furnish to the Secretary of State, certificate
IS
? ature, by statute, to permit such association so
to reduce their capital stock; and thereafter
such association shall not be subject to the pay
; ment OF the tax as provided in the sixteenth
l section OF this chapter, except on the amount
OF the capital remaining, to which it shall have
been reduced by such statute; and the Lcois-
iature may, upon a vote of the stockholders
? and certificate as above provided authorize
the removal of the place of business of any
banking association from the place where such
association may have commenced its business
operations according to the provisions of the
? nineteenth section of this chapter, to any 9th
er place where, under the provisions of this
chapter as amended it may be lawful for ANY
such ASSOCIATION to transact business"
lfth. Add to the twenty-Cighth section of
said chapter, between the words ''caShier' and
thereof" the words cor assistant CASHIER"
also to the said twenty-eighth section, the fol-
lowing words And it shall not be lawful for
any other person to sign such circulating notes
III the name OF such officers, either by proxy or
warrant Of attorney.
18th. Strike out from the thirtv-ffth section
of said chapter the word NINETY" and insert
in lieu thereof, the word eighty" also add to
the said thirty-itth section, the following words
VIZ: Prom which date such association shaIl
cease to transact the ordinary business Of bank
ing not necessary in lqudating the Il fair Of
the association, and shall not be required to
pay the scmi-annual tax of three foulths Of one
per cent, provided in section sixteen of this
chapter, except for such proportion of the time
as shall have elapsed since the first day Of Jan
uary or July preceding that date"
10Th. Strike out from section tEirty-siX of
said chapter, the words 1.-TWO years from the
date OF said notice" and insert in lieu thereof
the words three years from the date OF said
notice"
18th Strike ont from the tlirtv-ni1th 4cction
of said chapter, the following words viz '"Nufn-
Der of each bill, its date, and BY whom it was
countersigned," and insert in lieu thereof the
words denominations and amount of bills so
returned"
18th. Strike out from section fortv-tlirce of
said chapter, the following words Until tEe
first day of January, A. D. 1860, and not ex-
cceding seven per centum thereafter
SEC. =. At the general election to be held on
the Tuesday next succeeding the first Monday
IN November, in the wear one thousand eight
hundred and ifty-cight, at all the usual places
Of holding elections in this State for the cleo
ton OF all officers required by law then to be
elected; the question whether this act shall 20
into effect, or ia amy manner be in force shall
be submitted to the people, and if the same
shall be approved by majority of all the votes
cast on the subject, it shall go into effect. 9th
erwse it shall not 90 into effect, or III any man
ner be i'll force.
SEC. 3. The votes cash on the subjcc. Spcci-
| fed III the last preceding section, shall be by
separate ballot, and shall be written or printed
or partly written or partly printed on each Of
! them, the words For amendments to the bank
law or against amendments to the bank
law" which words shall indicate the vote of the
election for or against tie approval of tits act;
/ and the ballots cast shall be callvassed and
! returned IN the same manner the votes cast
! for State officers required by law to be can
| vassed, and the Secretary Of State shall inlne-
diately, on the completion Of said canvass, pub
lish statement Of the result thereof in tho Of
| fetal State paper, and shall communicate the
same to the next Legislature at the commence
mcnt of It's session; and he shall also deliver
to the State Treasurer a certified copy of this
act, if the same shall have been approved. and
a statement of the result of the canvass of votes
upon this subject, Immediately after the com
pletion of said canvass
Approved May u, 1858.
Given under my hand and the Great
L. S. Seal of the State, at the Capitol IN Mad
ison, this 18th day Of August, 1858.
ID. w. JONES, Secretary of State
sHERIFF's OFFICE Wood Comtyj