Quasqueton guardian. (Quasqueton, Buchanan County, Iowa) 1856-1858, 1858-04-29

one in well bound book to be kept by
the Auditor for that purpose, and one in 9
like book to be kept by the Treasurer, and
one in book to be kept by the corpora.
ton, which book shall at all times be open
to inspection, and said securities shal
then be delivered to the Treasurer fol
safe keeping, who shall receipt to the Au.
ditor for the same, and who shall be re-
sponsible for any loss or destruction there.
of growing out of, or resulting from negli,
gence or the want of reasonable precau
ton and care. The whole or any part oi
said securities may be re-delivered to the
Auditors for the purpose of being sold
under the provisions of this act, or dis,
posed Of under any order or decree oi
court, or of being returned to the owner
in conformity with the provisions of this
act, the Auditor in either case giving a
receipt upon the book kept by the Trea-
surer aforesaid, specifying therein the
purpose for which such, re-deli;;--- was
mada----l:~s. receipt shall discharge the
Treasurer from all further responsibility,
but the Auditor shall be liable in the same
manner as the Treasurer is while keeping
or disposing of such security.
5 7. Any person may establish, or any
number of persons may associate to estab-
lish Offices of discount, depositand circu-
lation. and become incorporated upon the
terms and conditions, and subject to the
liabilities prescribed in this act; but the
aggregate amount of the capitol stock of
any such corporation shall not be less than
fifty thousand dollars and the Auditor
of State shall not deliver to any incorpor
alton, notes for circulation, until such cor
poration shall have deposited with and
transferred to him the full amount of fifty
thousand dollars worth of stocks as nam
ed in the section three of this act, the
same to be rated as provided in said Sec
ton, and the capital stock as required in
this section shall be paid up in cash and
be and remain so much of the bona jfde
capital of such corporation No portion
Of the capital stock paid in as aforesaid,
shall be at any time Withdrawn from such
corporation SO as to reduce the remaining
paid up capital then actually held by and
in the possession of such corporation be-
low the estimated value of the stocks de-
posted with and then in the possession OF
the Auditor or Treasurer belonging to
such corporation, which shall be paid up
in cash, and be and remain so much of
the bona .tfde capital of such corporation.
No portion of the capital stock paid in
shall be at any time or under any circum-
stance, Withdrawn from such corporation,
SO as to reduce the remaining capital paid
in actually and held by and then in the
posses sion of such corporation below the
estimated value of the stocks then held
and in the possession of the Auditor or
Treasurer belonging to such corporation.
s 8. Such person or persons under their
hands and seals, shall previous to their
receiving from the Auditor, the circulat-
ing notes as aforesaid. make certificate
which shall specify-First The name as
sumed to distinguish such corporation,
and to be used in its dealings. Second.
The place where the business is to be car
ried on, designating the particular city,
town or village, and the county. Third
The amount Of capital stock which shall
be divided into shares of 500 each.-
Fourth. The names and residences of the
share holders and the number of shares
held by them respectively. Fifth. The
period at which such corporation shall
commence and terminate, which certifi-
cate shall be acknowledged and be record
ed in the Office of the Recorder of the
county where the Office of such corpora
ton shall be established, and copy there
of shall be fled in the Office of the Secre-
tary of State, and the Auditor of State I;
and upon the recording of which certifi-
cate, the person or persons aforesaid shall
become body polite and corporate, by
by the name assumed as aforesaid, for and
during the time fixed in the certificate,
which shall not he more than twenty
years, and by such name shall have pow
er to make contracts, to grant and re-
ceivc, to sue, be sued, plead and be i'm
pleaded, in all courts and places wherein
legal Or Judicial proceedings may be had;
to have and TO use q common seal and al
ter the same at pleasure to have. hold,
use and enjoy property, real, personal.
and mixed, with the rents, issues and
profits thereof, as hereinafter provided
and to exercise all other powers conferred
by this act and all grants or conveyances
of all real estate shall be under the seal of
the corporation, signed by the president
and countersigned by the cashier.
50. A copy Of the certificate required
by the eighth section of this act, duly GER
tilted by the Recorder of the county and
Secretary Of State, or by either of these
officers, may be used as evidence in all
courts and places, by any such corpora
ton, or any person when such evidence
may be necessary or any civil or Grimm
al trial
$40. Such corporations shall have pow
er to carry on the business of banking
by discounting bills. notes and other evi-
dence of debt. by receiving deposits, by
buying and selling gold and silver bullion,
foreign coins and bills of exchange, by
loaning money on personal security, and
by exercising such incidental powers as
may be necessary to carry on such busi-
ness, may choose one of their number as
President, and appoint Cashier and
such other officers and agents as their
business NAV peou;ra h,,,. l.- Il II