The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1858-04-17

of collectively specifying the gross
amount of such liabilities as principal
debtors, and the gross amount as endors-
ers or sureties; which statement shall be
forthwith transmitted to the State Bank
Of Iowa, and the auditor of State.
An abstract Of every statement, show
ing the condition of the branch. shall be
Immediately published by the branch in
some newspaper intcd in the county
where such branch is situated, copy Of
which statement shall be sent to each
branch of the State Bank of low.
s &c. The General Assc nbly shall
never impose any greater tax upon prop
erty employed in banking under this act,
than is or may be imposed upon the prop
erty of individuals.
S37. Each branch may take, receive,
or charga on any loan or discount made,
or upon any note or bill of exchau ,e, or
other evidence of debt, discounted or pur-
chased by them, interest at the rate Of ten
per centum per annum on the amount of
any such note, bill of exchange, or other
evidence of debt so discounted or purcha-
sed and no more, until the first day of
January, 1868, after which time no more
than per cent. shall be so taken, receiv-
ed or charged. Provided, however, that
interest may be reserved or taken in ad-
vance at the time of making the loan or
discount, according to the usual rates of
banking, or as calculated in Row!et's Ia
bles; and the knowingly taking, receiving
or charging on any debt or demand dis
counted or purchased by any branch, a
rate of interest crater than that allowed
by this section, shall be held and adjudg-
ed forfeiture of such debt or demand,
but the purchase Of bona fdc bill of ex-
change or note payable at another place
than the place Of such purchase or dis
count, and the taking or reserving inter-
est thereon at the rate aforesaid, from the
time of such purchase or discount until
the maturity of such bill or note, shall
not be held usurious, although exchange
on the place where it is made payable is at
the time of such purchase or discount,
worth premium; nor shall the discount
or purchase of bona fde bill or note, pay
able at place, between which and place
of discount or purchase, there may be a
difference in exchange, and the taking
in addition to the rate of interest afore-
said this rate of exchange between such
places, be deemed usurious: Pouided,
that no loan to, or discount in favor of
any Director or stakeholder in which
more than such interest as is allowed in
! this section shall be taken, reserved, or
charged, shall be forfeited, but the same
shall be valid against such party: Pro-
sided, further, that in no case shall more
than the current rate of exchange between
such places, be taken.
s 80. The total liabilities Of any per-
son or any company or firm (including in
the liabilities of company or firm, the
liabilities Of the severed members there
off, to any branch as accepter or accep-
tors of bona fde bills Of exchange payable
out of this State, shall at no time exceed
one-fourth of the amout of the notes which
such branch is authorized to circu late, ex-
clusively ofliabiIities as accptor or accep-
tors, one-tenth..an exclusive of all LA
bilities of such bills Of exchange one
twentieth, partof he amount of such notes.
No branch shall at any time pay out
on loans or discounts, or in purchasing
drafts, or bills Of exchange, or in payment
of depositors, nor shall it in any mode
put in circulation the notes of any Bank
or banking company which not es shall
not ut that time be receivable ut par il
payments Of debts by the branches so
paiing out or circulating scuh notes, nor
shall it knowingly pay out or put in cir
culation any notes issued by any Bank
or banking company which at the time of
such paying out or putting in circula,
ton Is not rcdeeming It's notes in gold
and silver.
All notes, bills, aud other evidences of
debt, excepting bills Of exchange, discoun-
ted by any brancL, shall be made by the
terms thereof, or by special endorsement,
payable solely to such branch, and no
such evidence of debt shall be asaignable
except for collection, or for the following
purpose:
lst. To pay aud redeem the circua-
ton notes of such branch.
End. To pay other liabilities of such
branch, and after such liabilities shall
have been discharged:
Sd. To divide among the stockholders
on their stock
No branch shall issue any certificate of
deposit, order, draft, bill Of exchange, or
other evidence of debt, payable in curren-
cy or III anything less valuable than gold
and silver coin, except receipts for special
deposits; nor shall any such branch keep
any accounts in currency or in anything
less valuable than gold and silver coin,
except accounts of special deposits.
No branch shall be permitted, in re-
ceivins payment at its banking house, or
other places, than where the same was
payable, of any note, BILL or other evil
denee Of debt due to such branch, and
payable at place other than its banking
house, to receive in addition to the amount
Of such debt and the legal interest due
thereon, any sum whatsoever as premium,
exchange, or damages: Provided, That
nothing In this section contained, shall
prevent such branch from receiving dam
ges allowed BY law upon any bona fde bill
of exchange, duly protested for non accep-
Dance or non-payment.
50. ALI transfers Of notes, bonds bills Of ex.
change and other evidence OF debt owing TO any
branch, OF Of deposits to its credits; all ASSIGN.
mehts Of mortgages or other securities ON real
estate, Or OF judgments or DEGREES in It's favor all
deposits OF money, bullion, or other valuable
thing for its use for the Of any of its stock
holders or creditors; all payments Of money
ls.i nf an n. of r.n
cy, or in contemplation thereof with a view 10
prevent tae application OF its assets in the man
ner provided by this act or with view to the
preference of one creditor to another, except in
payment Of Its circulating notes. shall be he id Ut
terry null and void.
$40. If tho directors Of any branch shall! know
ingiy violate, or knowingly permit any of The OFF.
GERS, agents servants OF such branch To yioIata