Weekly Council Bluffs bugle. (Council Bluffs, Iowa) 1857-1860, 1858-03-31

anR and sasEneaFsi gning naaszs id i Soc
Z provided Tor thaa rssgpksae, assa AL saa
shall hase ssmmpsd Qg printed ess tafal
faea lAa w0Eas. Rags ssaased hv sha Ssal
\ Basak a. kowa. III nasas 50 worna d
Z Laced o. rant slased, "a u be init feg esi
2 snIakiaas aaaAl be sssairned b sAs hssEs;
Z bv which thaY wsFa issues. "a the Bank
|. and an equal an0aat q nsw notes re
!. essvsd shefqfos ~ saeal ssasas 10 r.
: turned By bg@asA, saaAii ba ersdited
and aai rev vn@s delivered in shsig staal
mall BE- ehasHsa to sueh hFamch on -
s booaa es saia Bank ana tasa nOssH 40 re
sugnaa shall b haEnea 81 aASss IN th
! nrssenee az tAa Pgass Eaans or Wioa Pfass
! dsns. sd u isast two IL tasa Director
! 81 ssad Bank. -. ~.
J Before The Bark sAAII deliver i
{ any hxaneh, n0ses fer eiEeul ati ons Is shAl
reeaige saeh hraseh ID pay ogaE eE "a,
! posi- co she credit Of said Ranks IS ssis
2 hank shall order, aithsg in msney os Il
: United States 81 teskss q sm1sssak na
ssMae Saceka al theiF esgva@ Yaass@ q
khe sisy a. Nsw York, hsak Az - sssae.
! abuxa thalx pes Ealnss - Nsasssant aqaal
20 "a Z q pSF cent 60 slsa asAeuntaf notes
for eiraalsaian, whaah shall ha dsliYersd
, 10 sueA branahs and 80 from time 4
tine ~ aay hganeh, By ths paJing OF au
addisienai amount on iss capital stock,
1 ar By not having received tha Asasunt d
noaaa for circulation 20 which IL wa
previously entitled, shall receive an ad-
dialonai amount Of notes for circulation,
| such branch shall deposit with the Bank
I2 l-2 per cent on the amount Of notes
so received and the stocks and money
so deposited shaiI be denominated the
| 'sSafety Fuud ;" and shall be invested "a
hereinafter provided. sad held BY the
Bank a. ths property Of said branch, ia
trusAfar the beaest Of the several branch
O. of the Saasa Bank of Iowa, and as q
| fund for the redemption Of the notea af
| circulation of any one OK aoEs Of said
/ branches thAs may fail to redeem Its
notes, to be applied 10 Ehat purpose in
the manner pointed euAla this act.
58.~All money so deposited or paid to
] the Bank on account Of the Safety Fund
BY any branch, shall be under the diree-
| ton Of said Bank, invested either in in
terest paying stocks Of States or Of tha
UniGed States. Each branch shall De en-
titled To receive tho interest accruing On
| the stocks in which It's portion of the
| Safety Fund shall have been invested,
and In case Of the Insolvency OF ANY
! branch, the stocks in which the money Of
such branch shaA bare baen invested as
aforesaid, il the proceeds of sneh stoek
shall ha Sufficient to redeem Its aatatand
| ing notes Of circulation and 81 fax as
pg&s&ieahls be 6rst converted into money
aAd applied to that purpose, hs9oEe any
| part Of the Safety Fana belonging 30
other branches, shall be so applied.
! 3 9. The State Bank Of Iowa shall not
! furnish 70 any branch, circulating notes
( TO an amount bearing d greater proper
! tiou 10 the capital stock Of said branch
/ actually paid in and at she time remain
! ing undiminished by losses, or with
drawal, than the proportion hereinafter
specified, that ID 10 say: On the first hun
dred thousand dollars, or any lesser
amount Of its capital, not more than
twice the amount Of such eapltaI, on the
seeoRd hundred thousand dollars, or part
! thereof not more than one and three
, quarters the amount of sash capital over
nna huHdred thousand on the thIrd hun-
! dred thousand dollars or part thereof,
not more than naa and aak she amount
of sach capital, over two huadTed thou
! sand on the fourth huHdssd thousand,
: or part thereof, not more than one and q
! quarteF the amount of such capital over
rhrse hundred thousand, and on any
amount of capital over four hundred
| thousand dollars, not more than an
amount equal to such capital over four
{ hundred thousand nor shall said Bank
furnish 70 any branch circulating notes
! Of any other denomination than of one
dollar, two dollars and three dollars
I OF the notes furnished to any branch not
mora than ten per cent. OF the amount
shall be in notes Of one dollar each, not
more than ten per cent. in notes Of two
/ dollars each, and not more than twenty
/ FIVE per cent. shall be in notes Of all de-
nominations under dEe d@llars, not more
than fifty per ceBt. in notes Of all denom-
inatisns Hader ten dollars.
I S 10. II any branch Of the State Bank
of Iowa shall refuse to pay its notes Of
circulation, or any Of them, in gold or
! silver coin, the lawful currency of the
/ United States, on which payment shall
be lawfully demanded q its banking
I house or customary place of doing basi-
ness, during the usual banking hours,
/ sueh branch shall bs deemed te hare com
mitted an act Of insolvency, and there
upon all ita property, credits, securities,
liens and assets Of every description shall
forthwith vest in and be the property,
credits, securities, liens and assets of tha
State Bank of Iowa, for the uses and
purposes declared in this act. And the
said branch shall only be allowed to
make payment Of any such lawful de-
mand in silver coin when the sum so de,
rnanded does not exceed the amount for
I which silver coin is legal tender ae-
cordfng to the laws of the United States,
and when payment shall be demanded
on more than one Of it8 notes at the sans
time, the aggregate amount Of such notes
80 presented for payment to the amount
of one hundred dollars shall be cousld'
cred but one demand.
+ 5lI. The State Bank Of Iowa, on re.
ceiving information that aHy hranch ha,
committed such act Of insolvency, shall
: forthwith appoint committee OF one o.
more Of its Directors, or others, WIT
} shall mako immediate enquiry into tht
. truth Of such information, and rap0T
! theraon 70 the Bank /; and il the Bani
shall be satisfied from She report Of tht
! committee. that such branch has suspen
ded she payment og its notes in geld 0
, silver as provided in section ten il01, j
] shall forthwith appoint . suitable re
eaiysr, or receivers, who shall take i'm
! mediate possession Of the books, records
n oney, chooses in action and property o
. such bvaReh, Of every description, anr
! held ths s&@s fer the joint uae Of th
E other branches Of the State Bank OF Lowa
. and the creditors Of the failing branch
D and the State Bank Of Iowa shall IEAma
g diately provide money and place ia
, same IN such solvent branch Or branches
> as mmy bs most convenient for the pul
I pose of EeaesHing the notes OF snoh faii
; ing branch, and shall give public nekic
In some Newspaper printed In ERe plae
: whers such falling branch is l0sassd, al
. SO in sofae newspaper Of general cireg
: Iation published st Iowa City,
= 4 T2. Each Rolvent branch shall cor
d tribute in The ratio Of the eiSgulssion
j which IL is eEtitled, to the sum neeeasaI
: for redeaming the notes Of the fsiIin
= branch, as provided in the preceding Sc
o tien on the requisition OF the State Bar
= of Iewa, and MAY be remunerated Il
i smah saassibattans from the SafetT Fanl
b as soon as money splieient can be rails
4 froun thas faEd, BY sale Qg hypetheel
/. sioa al the stock, funds, og etsss seeug
Is dies hsLaaging thereto.
If 5 Is. Tia FseaivsT or rseeaYers 81
q Doinaesa a. pesgiaed il the elsYentA se
:. = .A.sf - z.sn,.sp,asa IA sxssa han