The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1858-04-24
Volume ).

ener than twice in each wear and shall make such
visitation said bank shall paT each Of said com
nissioners the sum Of FIVE dollars for every da,
actually spent IN such visitation
So Said bank commissioners may cause suci
semi-annual Or other examination to be made b,
AIRY one or moro Of their number as they may de
Armiue, but all action by them contemplated II
ection IS Of. this act, shall he decided by ma
$50. Every corporation who shall herea:!e
carry on banking basiaess under the provisions
Of this act shall make out and transmit 10 the An
ditor Of State, full Statement OF its affairs AS the,
existed on the first Monday OF January, April
July and October, OF each year verified by thu
oath OF its President or Cashier which Statement
shall be deposited In the office Of said Auditor, b..
the 10th day of each OF said mo nths in each year
which statement shall DO published quarterly IL
the nearest newspaper, ana such statement shall
contain:
First.--The amount of capital stock Of the cor
poration paid in, and invested according to law.
second.--The value Of the real estate. specify
ng what portion ia occupied by the corporation
fer the transaction af business.
Thrd.--The debts etying 10 the corporation
mad sse date aud amount of each bill or note
discounted and whenthe ssame was made payat
ble.
Fourth.-The amount Of debts owing by the
corporation, aud the amount deposited with othe
banks.
Finh.-The amount Of notes or bills then in
circulation Of said corporation, OF loans or dis
counts and specie on hard; what amount Of notes
Of other banks 10 held by snch corporation and
tho amount leaned to directors AMI stockholders
In such corporation.
six,h.-The amount Of suspended debt held By
such corporation.
Seventh.--rhe amount Of per cen.age of depos
its on hand.
40. Every corporation that shall neglect or
refuse to make out or transmit the statement re-
quire in the thirty section Of this act, shall
be restrained from the further prosecution Of the
banking business, and shall forthwith go into
liquidation.
IL Whenever any corporation DESTROYS Of
relinqnishing the banking business, shall have re-
deemed at least ninety per cent, of their circula,
ting notes, and shall produce certificate from
the State Treasurer certifying that such corpora
ton has deposited in his Office. subject to the or
der OF the auditor sum OF money equal in
amount to the notes Of such corporation then
outstanding, it snail be lawful for the auditor to
receive the same and to give up all the securities
heretofore deposited by such corporation, for the
redemption of the notes issued, which sum so
deposited with the state Treasurer as aforesaid
shall be appropriated solely for the redemption of
the Outstanding notes OF such corporation subject
10 the provisions hereinafter mentioned.
~. Every officer, agent or clerk of any in
corporation authorized by this act who shall
wilfully and knowingly subscribe or make any
false statement or false entries in tie booGs Of
such Interpretations, OF shall knowingly subscribe
or EXHIBIT false papers with the intent to
deceive any persons authorized to exam
inc as to the condition of such iucorpora-
ticn, or shall wllfuly or Knowingly sab
scribe or make false reports, shall be
deemed guilty of felony, and upon con-
viction thereof shall be fined not exceed
ing ten thousand dollars, and be imprisond
an the State Prison not less than two nor
more than fourteen years, and be forever
after rendered incapable of holding any
office created by this act.
5 43, Such corporation, after having
complied with th1 provisions of the pre-
ceding sections of this act, may give nc
tiee for two years in paper published at
the seat of Government, and also in at
least one paper published in the county
whore tho said corporation shall have
been located, that all circulating notes
issued by sad corporation, must be pre-
sented at the auditors Office within two
years from the date of said notice, or tina.
the funds deposited for the redemption
OF the notes will be given up to the corpora
ton aca on receiveing satisfactory proof
Of the giving of such notice for the time
aforesaid, tho Au shall surrender to
the order OF said corporation, any securi-
ties which he may hold for the payment
of any uuredeemad notes Of said copper
alton, and the Treasurer shall 6cliver
over to such corporation Any moneys in
his hands which have been deposited with
him for such purpose, o. the production
OF suck certificate, such notice to be pub
iished at least three weeks in each six
months Of each year
"A. Each corporation organized IN
der the provisions of this act may take,
receive, or charge On any loan or discount
made or upon any note or bill of exchange
or other evidence Of d, BIT discounted or
purchased by them interest at The ra of
ten per centum per annum on the amount
Of any such note, bill Of exchange or other
evidence of debt 50 discounted or Dur
chased, aud no more until tn first day o.
January, 4. d. 1868, after which time
no more than light per cent, shall be 50
taken, received or charged; Provided.
however, that interest may be reserved
or taken in advance at the time Of ma
king the loan or discoun.irg according
to the usual rates Of b mixing. or rs calen,
lated in ''Rowlet's interest Tables" and
,hs knowingly tak;rg, raserving or char
giag Oh any debt or demand discounted
or purchased BY any corporation a rate Of
interest greater than that allowed by tn ;
section, shall be held and adjudged a for
fe ture of said debt or demand but the
purchaser Of iona tide 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 tho rate aforesaid from the time OF
such purchase or discount, until the ma
turity of such bill or note shall not be
held usurious, although exchange on the
place where 1t Is made payable is a. the
time Of such purchase or discount, worth
4 premium, Tor shall the discount or pur-
chase Of boa1 .fde bill or not PAYABLE at
a place between which and the place of
discount or Purchase there may be diff /
erence in exchange and the taking in .d.
ditlon to tho rate of interest aforesaid
the rate Of exchange between such places
be deemed usurious, Provided that in no
case shall more than the curren. rate Of
exchange between such places be taken.
5 -. No corporation organized under
the provisions Of this act, shall Exist
longer than twenty years
10. The stockholders or shsroLo,- !
ders as used in this &C. shall apply not .
only to such persons as appear by the !
books after association, to be such, but
also to be equitable owner OF stock, al. /
though the same may appear on such
books IN the narae Of any other person,
and also to every person who shall have