The weekly Ottumwa courier. [volume] (Ottumwa, Iowa) 1857-1872, 1858-05-06


deposit Of other security Of the like valne
with those originally transferred, TO supply
the place of those changed, lost, destroyed or
improperly withdrawn, or which shall have
become insufficient security as aforesaid, in
reasonab BILE time to be fixed by said commits
sioners, or that saic corporation surrender to
the Auditor sufficient amount Of bills TO be
funded 10 reduce the liability of snch corpora
tion TO such sum as that the securities in pos
session of the Treasurer will be sufficient for
the redemption of all notes not so surrendered;
and in case of any ia lure TO comply with any
such reqnistion the commissioners shall re-
port the facts to the Auditor, as we'll as to all
the other corporations incorporated under the
provisions of this act, and the Auditor shall
thereupon proceed to put such defaulting in.
corporation into liquidation as provided for in
case Of failure to redeem or pay notes on de-
mand. If the SAID Bank Commissioner shall
ascertain upon any such examination that any
bank has in any manner failed to comply with
the provisions of this act, they shall immedi-
ately report the same to the Auditor, who
shall thereupon proceed 10 put such default
ing incorporation into liquidation, as provided
for in case of failure to redeem or pay notes
or bill 8 on demand.
s 36. Thomas Hedge, Of Des Moines county,
George L. Davenport, Of Scott county, p.
Cad. Bryan, of Warren county, Thomas A..
Graham, of Tama county, and E. G.. Potter,
of Jackson county, shall be and they are here
by appointed Bank Commissioners, who shall
hold their office until their successors are
elected and qualified. Said commissioners
shall, during their term Of Office, perform the
duties prescribed by this act.
| 5 81. The Bank Commissioners created by
this act, shall each be entitled to receive for
their services, for every day actually spent IN
maxim. the semi annual examination by this
act required, the sum Of five Dollars per day,
~hich said sum shall be apport:oned among
the said banks by the commissioners, in pro-
portion to the amount of their capital, and
when the said bank commissioners shall deem
j. necessary to visit any Bank oftener than
twice in each year, and shall make such visit
alton, said Bank shall pay each Of said COM
mssioners the sum Of five dollars for every
day actually spent in such visitation.
3s. Said Bank Commissioners may cause
such semi-annal or other examination to be
made by any one or more of their number as
they may determine, but all action by them
contemplated in section 35 of this act, shall
be decided by a majority.
| Eyar,, onroor.t;s. ~. L
ter carry on banking business under the pro.
, visions of this act shall make ont and trans.
init to the Auditor Of State, full statement of
its affairs, as they existed on the first Monday
of January, April, July and October, of each
year, verified by the oath OF its President or
Cashier. which statement shall be deposited
in the offic- of said Auditor, by the Goth day
of each of said months in each year, which
statement shall contain:
, First.-The amount of capital stock of the
, corporation paid in, and invested according to
law.
Second.-The value of the real estate, spec
flying what portion is occupied by the corpo.
ration for the transaction Of business.
Third.-The debts owing to the corporation
and the date and amount Of each bill or note
discounted, and when the same was made pa v
able.
Fourth.-The amount of debts owing b,
the corporation, and the amount deposited will
other banks.
Fif:h.-The amount Of notes or bills ther
in circulation Of said corporation. Of loans OF
discounts and specie on hand; what mount O
: notes of other banks is held by such corpora
ton, and the amount loaned to directors and
stockholders j, such corporation.
Sixth.-The amount of suspended debt held
by such corporation.
Seventh.-The amount Of per centage o
: deposits on hand. ..-.
5 40. Every corporation that shall neglec
or refuse TO make out or transmit the statemen
required in the thirty-ffth section of this act
shall be restrained from the further prosecu
tion of the banking business, and shall forth
with 60 into liquidation.
A.. Whenever any corporation desirous oi
relinquishng the banking business, shall have
redeemed at least ninety per cent. of their cir
/. culating notes, and shall produce certifcat,
: from the State Treasurer, certifying that such
: corporation has deposited in his Office, subject
70 the order Of the auditor, sum Of money
; equal in amount to the notes Of such corpora.
tion then outstanding, it shall be lawful for
the Auditor to receive the same and to give up
all the securities Heretofore deposited by suct
corporation, for the redemption Of the note.
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 to The pro
visions hereinafter mentioned.
5 Az Every officer, agent or clerk Of any in
corportion authorized by this act, who shall
willfuliy and knowingly subscribe ormake an,
false statement or false entries in the books O
such incorporation, or shall knowingly sub.
; scribe or exhibit false papers with the inten
. TO deceive any pei sons authorized to examine
as tothe condition of snch incorporation, o,
shall wilfnl'y or knowingly subscribe or make
|. false reports, shall be deemed guilty OF felony
and upon conviction thereof shall be fined no,
, exceeding ten thousand dollars, and be mpris-
oned in the State Prison not less than two no,