Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1858-09-15

| village, for the redemption OF its circulating
notes such office shall be kept open during
usual business hours, between the hours of ten
and three o'clock, for the presentation and pay
ment of its circulating notes. The holder or
| holders OF any such circulating notes may have
such notes presented for payment and payment
and payment thereof demanded. and may cause
such note or notes to be protested for non pay
ment, at the place go designated, in the same
manner and with like effect as if the same had
been so presented, demanded and protested at
the place whose such note or notes are made
payable; and when such bank or banking as
ISOLATION shall have complied with the provis-
ions of the foregoing section, such bank or
banking association shall not be compelled to
redeem their notes at the place where such as
ISOLATION shall have been first located.
SEC. 20 The Bank Comptroller shall, upon
receiving the notice mentioned in the last pre-
ceding section, cause such notice to be pub
lished in the official State paper, and in case
any bank or banking association shall neglect
or refuse to conform to the provisions of said
section, it shall be the duty of the Bank Comp
troller to sell the securities pledged for the re-
demption of the circulating notes Of such bank
or banking association, and out of the proceeds
OF said sale, to redeem such notes, in the man
ner provided in section twenty-four Of the act
Of which this is amcndatory.
Sth. Add to the first subdivision of section
nineteen of said chapter, the following words
viz: "-lnd shall be such as will be readily dis
tinguished from that of any banking association
then existing III this State"
I 9Th. Strike out all after the word ''require, y
in section twentv-onc, and insert. land no per-
son or association shall commence or carry on
the business aforesaid, until such person OR as
ISOLATION shall have complied with the provis-
Of Ill J.i.-
no bank of circulation shall be allowed to carry
on such business, unless such bank or associa-
! ton shall have deposited with the treasurer the
| securities required by law, to the amount of
| twenty-five thousand dollars, exclusive of the
! bonds given by the directors or stockholders "
| 10th. Strike out from the twentv-third sec
| ton OF said chapter, the word Give" and in
sert III lieu thereof, the word ''ten," so that it
! shall read, ten DAYS after such notice" also
strike out from the same section the words
! some newspaper" and insert in lieu thereof,
the words, 1.-THE official State paper" also in
sert after the words pay the same" the words
| together with all necessary legal fees and ex-
I pcnscs of protest and notice"
llth. Strike out from the twentv-f fourth see
ton Of said chapter, the words, Five DAYS, >
and insert in lieu thereof, the words '.ten
| days" also strike out from the same section,
| the words 'Some newspaper" and insert in lieu
! thereof, the words 'thc official State paper -
also add TO the same section the following words.
VIZ: And iii case the comptroller shall deem
! IT advisable, he may, with the consent of the
| person or association of persons so falling or
refusing to pay such notes, dispose of or sell
such securities, otherwise than in the manner
above prescribed, at price not below par, or
at sum sufficient to redeem such notes"
18th Strike out from the twentv-titth section
/ a 81 hn u-nrI- L.
commencement of the section. and insert in
lieu thereof, the words, ''if, in the opinion of
the Bank Comptroller" also strike out from the
same section, the word 'ninctv," and insert in
lieu thereof the word ''siNtv,' and strike out
from the same section. the words ''thc Comm
trollcr," where they first occur, and insert in
Ecu thereof the word he"
! 18th. Add to the twenty-seventh section of
the said chapter tie following words. viz: "And
it is hereby provided, that when anv such asso-
cation shall, by vote of the majority of the
stock, determine TO reduce the capital stock to
| an amount not less than twenty-five thousand
dollars, and shall, by its president and cashier,
furnish to the Secretary of State, certificate
of such votec, it shall be lawful for the Legis
lature, by statute, to permit such association so
! TO reduce their capital stock; and thereafter
| such association shall not be subject to the pay
ment of the tax provided in the sixteenth
section of this chapter except on the amount
/ of the capital remaining, to which it shall have
! been reduced by such statute: and the Lpris-
Iature may, upon vote of the stockholders
and certificate as above provided, authorize
! the removal OF the place of business of any
! banking association from the place where such
/ association may have commenced its business
operations according to the provisions of the
nineteenth section of this chapter, to any 9TH
. uDfnr no e II, -
chapter as amended, it may be lawful for anv
such association to transact business"
18th. Add to the twentv-eighth section of
said chapter between the words "cashier" and
thereof, the words '0r assistant cashier; :"
also to the said twentv-eiehth section, the fol-
| lowing words: and it shall not be lawful for
any other person to sign such circulating notes
IN the name of such officers, either by proxy or
warrant Of attorney.
18th Strike out from the thirty fifth section
OF said chapter the word ''ninety," and insert
in lieu thereof, the word ''eighty;" also add to
the said thirty-ith section, the following words.
viz: "From which date such association shall
cease to transact the ordinary business of bank
ing not necessary III liquidatmg the affair of
| the association, and shall not be required to
pay the Semi-annual tax of three -fourths of one
per cent, as provided in section sixteen of this
chapter, except for such proportion of the time
as shall have elapsed since the first day of Jan
uary or July preceding that date"
! 10th. Strike ont from section thirty-siy of
said chapter, the words two years from the
date of said notice" and insert in lieu thereof.
the words three years from the date of said
notice"
18th. Strike out from the thirtv-niath section
of said chapter, the following words. viz: ''Nuln-
Der of each BILL its date, and by whom it was
countcr4igned,' and insert in lieu thereof the
words denominations and amount of bills SO
| returned"
! 18th. Strike out from section fortv-three of
said chapter the following words: Until the
first day Of January, A. d. 1860, and not ex-
ceeding seven per centum thereafter"
SEC. ;. At the general election to be held on
the Tuesday next succeeding the first Monday
N November, in the year one thousand eight
hundred and ffty-eight, at all the usual places
OF holding elections in this State, for the cleo
ton OF all officers required by law then to be
elected; the question whether this act shall 60
into effect, or Id any manner be in force, shall
be submitted to the people, and if the same
shall be approved by majority of all the votes
east on the subject, it shall go into effect, 9th
crwise it shall not go into effect, or in anv man.
ner be in force.
SEC. s. The votes cash on the subject speci
fed in the last preceding section shall be by
separate ballot, and shalt be written or printed
or partly written or partly printed on each of
them, the words For amendments to the bank
law" or Against amendments to the bank
7 L y