The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1858-08-05

| F0Tfh, such ~ II shall acquire by sale
or execution or decree Of any court IN its
favor. The said bank shall not purchase,
hold or convey real estate in any other case
or for any other purpose whatever, and all
conyeyances OF such real estate shall he
made 90 the corporations, and which real
estate the president and cashier may sell,
assign, grant or convey under the direction
Of the association free from any claim there.
on in favor Of or against the shareholders
or any person claiming under them.
SIC. 81 The president and cashier OF
every bank formed pursuant TO the provisions
Of this act shall at all times keep n true
and correct list of the names Of all the
shareholders Of such bank, with the amount
Of stock held by each. the time OF transfer
and to whom transferred, and shall file u
copy of such Isl in the Office Of the register
Of deeds Of the county wherein such bank
may be located; and also in the Office Of
the Auditor Of State on the first Monday in
January and July in each year, and the
stockholders In each bank shall he individ
ually liable in amount equal to double the
amount Of stock owned by them for all the
debts Of such bank, and ouch individual La
bility shall continue for one year after any
transfer or sale Of stock by any stockholdcr
or stOckholders
Size. 30 In the event of the insolvency
Of any bank established under the provisions
of this act, the bill holders thereof shall be-
entitled IL preference in payment over all
other creditors Of such bank.
Sgc. 23. II shall not be lawful for any
bank formed under the provisions Of this
act, 10 make any OF its bills or notes TO be
put In circulation m money, payable at any
other place than the Office where the buzz
ness OF the bank IL carried on and conduct
cd nor TO issue the same at any other place.
and said bills or notes shall be made paya
BILE on demand and without interest.
SEC. "a. When the owner or owners Of
any bank dcsirous Of rclinquishing the bank
ing business, shall notify the State Auditor
Of such intention, then, and Ia such case, il
shall be competent for the said bank or
bankers TO redeem and deposit with the
Auditor Of State from time to time, any
amount u their circulating notes which may
have been issued TO said association, bank
or bankers, In sums, however, not less than
one thousand dollars at any one time, and 70
receive therefor and withdraw an equal
amount OF the securities by them deposited
with the Auditor Of State, but no bank
shall continue 10 transact any business
whatever further than what may be required
10 close up thereafter their capital stock
securities, or circulation, shall have been ~.
duccd 10 lcss than S25 900, nor ia any case AZ
t., La. data n IA of
intention TO relinquish and close up their
banking business M aforesaid, and whenever
the retiring bank or bankers shall desire 10
Withdraw oil the securities heretofore lodged
with the auditor Of State, they may do 40
by producing and filing with the auditor Of
State. certificate Of deposit 10 his credit
in such bank as be shall approve Of an equal
amount with the circulating notes Oi such
bank or banks then remaining unredecmed,
and the auditor Of State on being satisfied Of
such deposit and Of the sulIicicncy thereof,
shall give up oil the remaining securities
heretofore deposited by such bank or anks
for the redemption d the circulating no,fs
issued
SIC. Is. Such banking association or
banker after having complied with The pro-
visions of the last preceding gectlOB, shall
give notice fOr two years in some newspaper
printed in the county where such bank shall
have been located, and in paper pristed at
the sat Of government Of this STATE, that all
circulating notes issueI by such banking ~
sOcation or banker, must be- presented at
the auditor Of States Office within two
years from the date Of such notice,
OF that the funds deposited Tor the re-
d'pption Of the notes, will be given up 10
tie banking association or banker. and on
receiving satisfactory proof of the giving Of
such notice for the time aforesaid, the an.
di,or Of State 81 all surrender 10 the order Of
sIch banking association or banker any 10
curities which he may hold for the payment
Of any unredeeDed notes Of the said banking
association or bankers.
Sgc. 20. Any banking ASSOCIATION ~
banker wishing 10 withdraw any of The ~
cnritis by them deposited With The auditor
Of State, may do 20 by depod,iDg an equal
amount oi the circulating notes which may
have bcrn issued to raid association Or bank.
cr 10y the auditor Of State In sums u no,
i,ss than one thousand dollars; provided
that the amount Of securities thus Withdrawn
by deposits oi said circulating bot'.- shall
not reduce the amount d stock securities re-
naming ia the hands Of the auditor n State
% lsss than twenty-five thousand dollars.
oEc. q. The securities 10 b. depo-,ted
with tn auditor Of state IN trust by any
association W banker, shall b. bid by him
exclusive fo TIL redemption 81 the bills o.
notes u ,uch bank. put 10 circulation N
money until the zane are pad and returned
% the auditor d Stall, ~ WOy,d.si IN this
art, bot the sajt0r oi State mny assign sapd
securities 10 ssid assoclAtiOD 90 banker,
I transferring the sane upon receiving there
fR equlvalsnt securities or an equivalent
amount 10 circulating notes issoed by such
! hank, a. provided 10 section twenty siI Of
thu at