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

aarsoas Aforesaid ahaEa beaaaaa n bod
! p6litse and sorpurwsb, BY sha REaEas as
snmed a. aforesaid, 9oF AID during shl
time Gxed Ia the ssSkillaake, which shall
not be mere sEaasa &wsnty ssAsss and b,
1 saeh Same shall hare poweF To lmakl
centsasasy 10 grmns aad seeasxa. to 81
! and Be sued. to plead aud be iaap3eaasd
/ In all courts and plAeas whssesn kaxaa ol
; judicial proceedings may aa had a
! have and 10 use . eemman seal and aahsl
] the same ST pleasure, 10 hare halds ass
! and snioy pgepeRty, Fsalv personal, aae
!. mixed With the Fantsse iGsaHs aa& praaEl
/ thereof, a. hereinafter pFoviaata, sssss II
exercise all other powsrs e0ufsrsea By
. tEia act and all grants o. soaYgyRnoes oI
. real estate shall be sandsg che seal Of she
corporation, signed by the peesiden4 and
oountersigned by the cashier.
J 8 9. 4 copy Of the certificate required
, By she eighth section OF this act, duly
certified By the Recorder Of the soaHty
and Secretary OF stats, or by either oF
thess officers, May Be used as evidences
in all courts and places, b. any aueh
corporation, or any person when zach
sSsiaenes aS9y bs necessary or mHy civil
or criminal trial, ~---.--..
| t6 a0 Saoh eeEporatipns ahhIl have
power TO carry on the business OF bank
ing By aiscouuting Bills, otesand other
sgalanea pg aces lhg sreesEvipg aeeosiss,
fby Buying and selling gold and silver
bullion, foreign coins and bills Of Ak
shapgss bx loaalng sEaoasg pa Pegsonal
security, ana by exercising suetfS fnci-
dental powers @s may bs necessary to
saxEg an seeh basaRsss,4 nay eheese ane
Of their number as President, and ap-
point a Cashier and such othar officers
and agents as their business may require;
| but no loans shall be made, nor sflRlI
any hllls note Or ether EVIDENCE Of debt
be discounted or purchased haTihg more
thaa four months to run before waturi~
| ty; and in All cases, personal security
shall ha EegaiFsd, .,-...g
) II. ne shares of such corporations
ahall be deemed personal property, and
SHALL be tr snsferable on the books Of Tbs
corporation, only and in such uaaDnsv ~
may be provided in the bylaws Of such
corpoFasian; aEd egsTy peFsea bsepmlng
q shareholder BY such transfer, shall in
proportion to bis shares EaGcssd TO all
! fhs rights of the shareholder or share.
! holders bF whom she transfer was madss
no change akaiI be- Easste ia the ara stss
Of Association, or Of the ssFETe-hSldsgs
or members thereof, by which tho rights,
remedies or securities Of its exi stIag
creditors nay be impaired, sqeil earpo-
ration shall not be dissolved By tRe
death CA insanity of any Of tho share
holders therein, when there ls more than
one share holder ia saCh assoei ttion.-~
Taxss shaH be levied on and paid hy the
corporation, and nos upon the iRdlr lda- /
al stock holders, the yakae OF the prog
erty 10 be sscertained annually br The
Bank Comrnissi snsrs RCEej q prayIdei foE;
and the rata Of Taxation shall b shs saIa e
as that required 30 be levied on other
tA@abls property BY the EeTenua Laws Of
The State.
8 Ia. Contracts made by suy sQcl sQF
p0ratiou; and all notes by them i8saed
aad pct iu circulation, shall be signed
by the Presidents and Cashier thereof.
aud all suits, actions aud proceed iRgs
brought or prosecuted By, or in 5shatf
Of su1h corporation, may be brought and
prosecuted in the name at the corpara- |
JIoa, and 10 saeh auiks satlsp, or pro- /
eeeding shall sbase 81 yeasHE If tfe |
death, resignation or rem 90sal from 'oiksee |
of any President, bat may be oaatinu ID |
the sama as if saeh dagth, resignation or /
removal from oface had not taken place. i
: 10. Any person or persons having !
9smaBds against aay such corporation, /
may maintsin getlog or &ctieas 4gaiHaE
saah corporations, which Eait& or ssIous
shall not abste by reason Of the zath, !
resignation. sE removal from uEh,oa ot
any President or other ofasaF, BAT may
he aoneinnsd and prosecuted 20 judgm suE
against taA cerporatiOp; aud all judg-
aents and deeress ebsalhod o. alE q sReh
corporation fur apy debt Or liability Of .
such tQrHcr&tfq4, shall be enforced u .
galast the prGpsr9 Of the saE4a eIeept
such Judgments oF aeaross as may be OBJ .
taine1 against shareholders a. herein .
provided. i
{ II, The Auditor shall give to any
e0FPsrasi5n 50 trsEs feriug stocks IN pur, .
suance Of The provisions of this 49,, low- /.
or Of Attorney to receive interests on
diYidegds theraoq, aad apply 10 thssr
use; bur such power may b revoked up
on sash corporation failing 10 redeem
tho circulating notes so issued, or whsu-.I
ever in the opinion Of the Auditor tho /
principal of the StocA shall become in T
sna5ci ieut securely; and whenever any
suUh corporation shall 90 into liqaiaa- /
ti0n, or ia any otheE manner proceed %
close ap its affairs, the Auditor shali,
upon application Of the owner or owners I
Of such stock, Fs-transfsr the salae or
any part thereof 90 such owner or own /
eFs upon receiving and sancelltng an E
equal amount Of suoh Circulating notes .
delivered 70 him by such Gorpasaslon in .
such manner that the circulating notes .
outstanding, shall alwaYs be secured IN /
fufI by tine pledge of stseks, mhish esq \
cslled circulating notes after dsscrlp-
tive lists thereof have been made and re- l.
corded by the Auditor and Treasurer /
shaug 10 RsssgnpS If bhSse e8eaEaha ooR- I
sdnses bs1baSn i4gs asarfiu csgsS eAss sA@il | !
fail TO so burn any notes returned 70 them J
for that parposs, they shall be deemed /
guilty of felony, and liable to Gna Of |
mots1aoge thanS5 ,008 sna iHa pEig saguaas |
III tae RsnitsusiAry net less shaa aye noE /
moro than twenty.
8 l5s La case saeh esrporatlon shall |
fail or refuas TO pay any bill or aote on !
demand in the manner specified in the /
2Sth saaaislt Of. ehis asas 4hs kaalsar, af- |
ter ten days notice given in two nswspa-
para pr Einsed in the. city sg hew Yszk, |
shall proceed to sell at public auction in
tha city of New York, the paAlie iessSeAS 20
pledged, or such portion as may be nec-
essary, and 6At sS tho pgoaasds Of such
sale shall cancel and pay The ssid bin or
note default in Payiag FAish shall have
been made as aforesaid; baE nothing in
this act contained shall bs considered as
implying Any pisdgs On st4s part Of the
State for the payment Of said bills OF
notea beyond 4Ass psspss spplieatton OF
the securities pledged to the Auditor for
their rsaemptDRs "a
& l6. The public stock deposited with
the Anslikor hy.Any sCaeh corporation shall
be held, fTst, for the security Of notes
sf sush corporations pat il efxsul asien
as money uuiil tke nanae are redeemed 80
herein provided, ssc0ad, for The psymant
Of depusiEaFs AaiFas SaE blss pgyMens Of
all other liabilities and the excess Tor
the use qf STOCKHOLDERS. "a y
/ 8 II. The plate, dies aud materials,
MSaich may be furnished by sAaaAati8of
for the printing aad marking Of the notes
provided for hereby, shall remain 10 his
aasasay aad undaE his dirpotion, mna the
expense iaeurKsd Ii sxsoatinx ahe pxo.
visians nf thss.ac& ahAll be audited and
settled by the Auditor, aHd paia 0uA Of
Ruv Exxousy in the treasury not afharwrtsa
appropriated Amd For ths purpose ofEs-
imhmrsng ths saznas she saaA lAaditar il
! authorized and geaalred 10 charge