The weekly hawk-eye. [volume] (Burlington, Iowa) 1858-1860, 1858-04-27

| surrender 10 o. Auditue q sue8cisos amount OF
bills 70 b fnn1ea 20 red1e he liability Of such
desperation - sUsh sam - 49, the securities
II posseasion " ne 1sessnssf will be sufficient
Tor The redempsion 81 ~ sotss NOS 20 surren-
desod; and II o1Ge Of aay failure 70 comply
visS any such Tsquisi.iae shs Commissionsrs
shall report ~ fsces - - Auditor, a. well 40
70 I'll the oGhsf eorporasioss incorporated under
the provisions Of this act and the Auditor shall
| thereupon proceed 70 put such cefaulting incor-
poration into liquidation 40 provided for ia case
OF failure, TO redeem Or pay notes on demand.
| III the eaid Bank Commissioners shall ascertain
| upon any such examination that any bank has
in any manner failed to comply with the pro-
visions Of this act they shall imme diately report
the same to the Auditor, who shall thereupon
proceed 70 put such defaul.ing incorporation
into liquidation, as provided for in case OF fail
ure to redeem Or pay notes or bills on demand.
SO. Thomas Hedge, Of Des Aoines county,
| George Z. Davenport, Of Scott county, P. Cad.
Bryan, Of Warren county, Thomas A. Graham,
Of Tama county, and +. g. Potter, Of Jackson
county, shall be and they are hereby appointed
Bark Commissioners, who shall hold their Office
until their successors are elected and qualified.
Said commissioner SHALL during their term Of
office, perform the duties prescribed BY this
| act.
81. TIE Bank Commissioners created by
| this act, shsll each be entitled TO receive for
| their services, for every day actually spent in
| making the semi-annual examination by this act
required, the sum Of five dollars per cay, which
said sum shall be apportioned among the said
banks by the commissioners, in proportion to
| the amount Of their capital, and when the said
| bank commissioners shall deem it necessary to
visit any Bank oftcncr than twice in each year,
| and shall make such visitation; said bank shall
pay each Of said Commissioners the sum Of five
dollars for every day actually spent in such Wis.
| itation.
SO. Said Bank Commissioners may cause
such semi-annual or other examination 10 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 majority.
5 80. Every corporation who shall hereafter
carry on banking business under the provisions
Of this act shall make out and transmit 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 Office Of said
Auditor, by the goth day OF each Of said months
in each year, which statement shall be pub
lshed quarterly in the nearest newspaper, and
such 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, speci-
flying what portion is occupied by the corpora
ton for the transaction of business.
i. Thlrd.-The debts owing to the corporation,
and the date and amount of each bill or note
discounted, and when the same was made paya.
Bile.
Fourth.-The amount Of debts owing by the
q don n,if tad Nj
other banks.
Fitth.-The amount OF notes or bills then in
circulation of said corporation, of loans or dis
counts and specie on hand; what amount Of
notes of other banks is held by such corpora.
ton, and the amount loaned to directors and
stockholders in such corporation.
Sixth.-The amount Of suspended debt held
by such corporation.
Seventh.-The amount Of per centagc of de-
posts on hand.
t 40. Every corporation that shall neglect or
refuse to make out transmit the statement
required in the thirty-ffth section OF this act,
act, shall be restrained from the further prose-
cution of the business, and shall forthwith 20
into liquidation.
Al. Whenever any corporation DESTROYS OF
relinquishing the banking business, shall have
redeemed at least ninety per cent. of their cir
cuating notes, and shall produce certificate
from the State Treasurer, certifying that such
corporation has deposited in his Office, subject
to the order Of the Auditor, a sum Of money
equal in amount TO the notes Of such corpora
ton then outstanding, it shall be lawful for the
Auditor to receive the same and to give up all
the securities heretofore deposited by such
corporation, for the redemption of the notes is
sued, which 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 ~. Every officer, agent or clerk Of any
Incorporation authorized by this act, who shall
willfully and knowingly subscribe or make any
false statement or false entries IN the books Of
such interpretations, or shall knowingly sub
scribe or exhibit false papers with the intent to
deceive any persons authorized to examine as
to the condition of such incorporation, or shall
willtully or knowingly subscribe or make false
reports, shall be deemed guilty of felony, and
upon conviction thereof shall be fined not ex
ceedins ten thousand dollars, and be imprison
ed in the State Prison not less than two nor
more than fourteen years, and be forever after
rendered incapable of holding any office created
by this act.
5 i3. Such corporation, after having com.
piled with the provisions of the preceding sec
tons of this act, may give notice for two years
and also in at least one paper published in the
county where the said corporation shall have
been located, that all circulating notes issued
by said corporation, must be presented at the
Auditors office within two years from the date
of said notice, or that the funds deposited for
the redemption Of the notes will be given up to
the corporation, and on receiving satisfactory
proof of the giving OF such notice for the time
aforesaid, the Auditor shall surrender to the
order of said corporation, any, securities which
he may hold for the payment OF any unredeem-
ed notes Of said corporation, and the Treasurer
shall deliver over to such corporation any
moneys in his hands which have been deposited
with him for such purpose, on the production
Of such certificate, such notice to be published
at least three weeks in each six months Of each
year.
S A. Each corporation organized under the
provisions OF this ac. may take, receive, or
charge on any loan or discount made or upon
any note or bill of exchange or other evidence
OF debt discounted or purchased by them, in
terest at the rate OF ten per cent. per annum
an the amount OF any such note, bill OF ex-
change or other evidence of debt so discounted
or purchased, and no more until the first day Of
January, A. ID. 1868, after which time no more
than eight per cent. shall be SO taken, received
or charged; Provided, however, that interest
may ScSeIStO tdhcH III uuNduCc a. tu6
time Of making the loan or discounting accord
ing to the usual rates Of banking, or as cacu-
lated in Rowlet's Interest Tables" and the
knowingly taking, reserying or charging on
any debt or demand discounted or purchased
by any corporation q rate Of interest greater
than that allowed by this Section shall be held
and adjudged forfeiture Of said debt or de-
mand. but the purchaser Of bona tide bill Of
exchange or note payable at another place, than
the place of such purchase or discount, aud the
taking reserying intereset thereon at the rate
aforesaid from the time Of such purchase or
discount, until the maturity OF such bill or note
shall not be held usurious, although exchange
on the place where it is made payable is ut the
time Of such purchase or discount, worth
premium, nor shall the discount or purchase Of
bona tide bill or note payable at place be-
tween which and the place Of discount or pur.
chase there may be difference in exchange
and the taking in addition to the rate of inter.
est aforesaid, the rate Of exchange between
such places be deemed usnrious, Provided that
in no case shall more than the current rate Of
exchange between such places be taken.
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