Weekly Council Bluffs bugle. (Council Bluffs, Iowa) 1857-1860, 1858-06-02
LAWS 0F IOWA
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An ACT aasAagsxsng Eaanexal Bankins
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. AN ACT assAarsssas Hansral Bansls
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81 aKrrsos III q saaetsd bg sas ca
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the Auditor bf pablie aceonnks ss herel
authorised and required 60 eanaa TO
anRE asaa and printed in the bess mannl
y 10 aaaxa Againai eennsaEfaiting, sns
: aasaslsy 81 siruusaksng notes In simil
!. ssaab d Bsak mosss in blank of diAerel
Determinations not less than one dolIa
as be mAy FROM sinse 30 time deem III
: ecsaagys 60 carry iaso effect tho preyiI
. ions of Tile aess EaoA blank csrculRiiu
4 notes shaaa be soanaersignea, nambsEs
and registered in proper bsoks 10 !
pwpsaaed and kept kog thai pagpoae,
! tbs pfkee of the Auditor, and under b
] dgselioa by such register or Fegi stsEs 1
] the said Aaditos shall appoInt for ths
pnrnese % thas saaa saoh clxcalatIn
nosas shall bear ths algua&nFa of sue
: EegiassE, ox ems aE saeh Fegistess. OF th
notes furnished TO any corporation Oh
gaaiEed under tha provisions OF shis aoj
a0s meEs aaan .ssa per seak el d
amonn& shall be in notes Of one dolla
] eashs not more than ten peg cent. Ia hots
! / of swa dollars each, and net more tha
twenty. Ave per cent. shzll De in nasea o
ell denominations under fTe dollars, sn
noa . bre aaan 6fy per osnt. in a0sea o
sa den holainstions under ten dollars.
i s 3. Nothing haFsiR contained shal
be Sc Construed as TO preFsnt any asTpo
! ration from procuring thair oaFn plata
dies and other materials for enggaylnl
and prinIing blank notes and furnishinl
them to fte auditor and leaving then
ever after in his custody and contrui, q
/ be used and disposed Of as though sncl
Auditor had proeurEd them under th
preceding section.
i q 81 Whenever any corporation formel
Cor tAe pnrposa Of Banking anslaS thl
pgoyahiona of khke act shall lawfully
transfer to aud deposit with the Auditoi
any portion Of the public stock issued
or to be issued by the United States, OIL
any State stocks on which full interes
10 annually paid, or the stocks of thil
/ State I'd gGaeks to- he rated at 10 pc
cent. helow} khaaf average value in tht
| city of New York, for thirty days mex
| preceding the time when such stock
may bio lsft on deposit with the Auditor
/ and il no case shall the Auditor issad
bills for banking purposes on bonds oI
| this os any other State on which not less
| aAans ok per cent. is regularly paid
| such corporation shall be entitled 10 re-
| ceiTs from the Auditor an amount oI
such circulating notes of different de,
| nominations, Registered and counter.
signed as aforesaid, equal to thsamOunt
Of stuck actually deposited, rating sald
stock - ten per cenL, less than Its aver
age vaAae ~ aforesaid ..s
| ) /. A descriptive list Of the circula.
ting notes So registered aud argued
| shall be delivered to the Treasurer, who
! shall copy the same in the book herein.
after required to be kept By him, for re-
cord4nx descriptive lists Of secaritiaa
! dsposftstf vtsh him for safs keeping. g
! } 5. Such corporation is hereby au-
/ thoriEed, after having executed AND
signed the circulating notss registered
aud sounteEsi gned a. aforesaid, in thf
manner prescribed By this oct, made
payable on demand at the Banking
/ House Of said corporation within this
State, 80 loan and circulate the same ae-
sording to the ordinary course Vt Bank
/ ing bnsiaasa, and no such corporation
I shall az aay tlae issus ag hayR In oiFeu-
! Ianon any note, draft, bill Of exchange,
| acceptance, certificate Of deposit or ok
| er evidence Of debt which from It's char
aatev or appearance shall he calculated
/ OF intended iG circulate as money, other
than saGb notes Of cireQl2Elga as are In
! thissseetion provided for.
! 5 6. Three desCr ptiye lists OF the Sc
! eurities transferred to the Auditor a
aforesaid, shall b2 made and signed by
the Auditor aud persons Iakiag The
transfer, one in q we'll beand book 30 be
! kent BIZ the Auditor foE that purp3se,
! and one in like book TO be kept by tbs
Treasurer, and one in book to bs kept
/ by the corporation, which book shall al
al times Be open 10 inspection, and said
/ securities shall then be delivered to the
/ TreasaRsg Cor safe keeping, who shall
receips to the Auditor for the same, and
who shall be responsible foE aGy loss CT
/ destruction thereof growing out oE or
resulting from negligence OF the want Of
! reasonable pfeoautidn and care. Tbs
I whola ar an7 part of said securities naay
/ be re~deliwaxed 80 she Auditor for the
purpose Of being sold gGGeE t5e provis-
! IONS of this act, or Icing a$ed or disPo.
aed og anaer any order. or dearee Of
court, % Of being returned 70 tho oBncg
in conformity wltR the provisions Of this
act, the auditor in either sass giving q
I receipt apon the book kept by the Treas
ursr aiaEegaid, specifying therein tht
purpose for which aRch re- delivery va,
made. which receipt shall discharge the
( Treasurer from all further responsible
( ty. bat tho AaditaE shall ba liable in tAt
same manner as the TreasgEeT is whiIs
keeping ordiapoaing of such security.
/ Z. ARy person may establish, or aAy
uambeg Of persona may sssoCi ate 30 es'
t8blish aHices of discount, deposit snd
circulation, and become incorporates
apon tbs tsrms aaa sQadttkans, and sub
jeet TO the liabilities prescribed in thii
act bus the aggregate amount OF th'
capit4l stock Of any such corporation
shalf nus be less than Fifty thousand del
lara and the Auditor Of State shall mol
deliver 10 any incorporation notes fol
circulation until sash corporation shal
have deposited wtth and transferred Il
him the full amount Of ftty THOUSAND
dollars worth OF stocks as named In sac
tion thres Of thls Sets the same 10 b
rated rs provided IN said section, aHt
the capital ssock as required in this sec
lion shall bs paid up 10 cash and be ans
remain 20 much Of the bona fds capita
Of such corporation. No portion OF sh,
capital stock paid In as aforesaid shal
be at any tims withdrawn from suel
coge6Fssloa 30 as to reduce the remain
ing paid up capital then actually hels
By and 10 the possession Of such sorpq
Easien below the estimated value Of th
stocks deposited with and then in th
possession Of the Auditor or Treasure
/ beseagsEg 30 such corporation, whiei
shall Be paid up ia cash and be aud 20
lrnarn 40 mueh Of she boaa hde aa2iksl .
such corporation. No portion Of %
eapital stock paid in sfall be SO an
Iame Of Under any sirpamstsnee, with
drawn from such corporation, 80 a. !
reaaee tbs remainlng capital paid in &C
kaaIiy and bald By and shsn in The pes
ssasiom af saesa corporation below Cd
assimnasd Yalus Of aks steeka thsn bel
By aud in tbs possesasea gf khs Aaaiso
aY Treasurer beIengiug 10 susA corpora
! ten. -
3 8. Saeh person or pessSns ands
. their hands and asRls, shaii, previous I
1hsaK Escelgipg from ths auditor Eaa HlI
auInsinR sotes as aforesaid, nagka D eaz
tlaeaas whiCh shall specify-- Fsrst, "a
haGae asaamsdto 10 distinguish such o0rpo
lraaion, and ss ha used N its dealings,-
SecSmdy The plsee whaFs ahe kuslnes
! 10 TO be carried on, designating The PAL
sicular eSsy, t0wn OF village, and Cd
soOunsys Third, The amouns as CAPITA
fstoek winch stall be divided inse sllags