Quasqueton guardian. (Quasqueton, Buchanan County, Iowa) 1856-1858, 1858-04-29

the transfer of all stock, the date Of such
transfer, the amount so transferred, and
the persons by and to whom transferred,
one of which statements shall be posted
in some conspicuous place in the banking
house, and shall be continually exposed
public inspection during the banking
hours. The other of said statements
shall be caused by the bank to be filed
with the Recorder of Deeds in the coun-
ty in which such bank is located, and a
copy Of such last named statement, duly
certified by the Recorder in whose office
the same is filed shall be prin,a facie evil
dence of the facts therein contained in
any court of justice in this State.
5 80. That each and all the provisions
of this act shall apply to and control in
all respects any banker who shall conduct
business under the provisions of this law,
whether the word banker is or is not used
in any such provision.
s 33. There shall be elected at each
regular biennial session of the General
Assembly, by the two houses in joint
convention assembled, three electors of
the State as Bank Commissioners, whose
duties shall be to make semi-annual ex-
aminatons, and as much oftener as they
shall deem advisable, in respect to the
affairs and business of associations incor-
porated under the provisions of this act,
and in respect 10 the condition and man
agement thereof, and the amount of spe-
Gle on hand for the redemption of notes
and percentage of deposits on hand, and
also to inspect the securities fled with the
Auditor aud Treasurer, so as to be able to
determine whether or not any change has
been made in said securities, as we'll as
in respect to the sufficiency of such secu-
rites to meet the liabilities of the corpo-
ration. and also to determine whether
said Bank complies with the provisions
Of this law, and to report thereon to the
Auditor and to each corporation. Such
Commissioners shall have power to exam
inc all books, papers and documents per-
tanning to the business of the corporation,
and to swear or affirm all officers, agents
or others connected with the corporation
in respect to any matter or thing about
which they have the right to inquire, and
their reports shall be published in some
newspaper published at the seat of gov
ernment and in newspaper published in
the county in which the bank does busi-
ness. and if there be no paper published
in that county, then in newspaper pub
lished in the nearest county thereto !;
Prorided, that neither of the Commis-
sioners elected in accordance with the
provisions of this section, shall be en-
gagged either directly or indirectly in
banking under the provisions of this act,
either as stockholder. director or under
officer, and should either of them so en-
gage in banking. so elected, it shall be
construed as full resignation Of his Of
fee as Commissioner.
) 81. Such Bank Commissioners, be-
fore entering upon the duties of their of
flee shall take and subscribe an oath or
affirmation faithfully and impartially to
perform all the duties enjoined upon and
required to be performed by them, which
said oath or affirmation shall be filed in
the Office of the Secretary of State.
s 35. 1.-THE said Bank Commissioners
shall ascertain upon any examination
which they may make that any change
has been made in the securities deposited
with the Treasurer, or that any part there
of has been lost, destroyed or improperly
Withdrawn, or in any way or manner mis-
used or misapplied, or that securities have
from any cause become lessened in value
or insufficient for the redemption of bills
of circulation they shall they shall notify
the President and Cashier of such cor
ration liable to be affected by any such
state of facts of the discovery thereof,
and require the transfer and deposit of
other security of the like value with those
originally transferred, to supply the
place of those changed, lost, destroyed
or improperly Withdrawn, or which shall
have become insufficient security as afore-
said, in reasonable time to be fixed by
said Commissioners, or that said corpo-
ration surrender to the Auditor sutfi- :
cient amount Of bills to be funded to re-
ducc the liability of such corpora ion TO
such sum rs that the securities in pos
session of the Treasurer will be sutficien
for the redemp ion of all n,.es not so sur
rendered and in case of any failure to
comply with any such requisition. the
Commissioners shall report the facts to
the Auditor, as well as TO all the other
corporations incorporated under the pro-
visions of this act, and the Auditor shall
thereupon proceed to put such defaulling
Incorporation into liquidation, as provid-
ed for in case of failure, to redeem or
pay notes on demand. If the said Bank
Commissioners shall ascertain upon any
such examination that any bank has in
any manner failed to comply with the
provisions of this act, they shall imme-
diately report the same to the Auditor,
who shall thereupon proceed to put such
defaulling incorporation into liquidation.
as provided for in case Of failure to re-
deem orpay notes or bills on demand.
5 35. Thomas Hedge, of Des Moines
county. George l.. Davenport of Scott
county. p. Cad. Bryan. Of Warren coun-
ty, Thomas A., Graham, of Tama coun-
ty. an1 L. G. Potter. Of Jackson county,
shall be and they are hereby appointed
Bank Commissioners, who shall hold
their Office until their successors are elect
ed an 1 qualified. Said commissioners