The weekly hawk-eye. [volume] (Burlington, Iowa) 1858-1860, 1858-03-30

: the omount of ~ 011Dtaudt1S uDtoo Of ciFculA
I don; ard whenssse ~ amonns of IL oatstand
! Ing notes Of circulation shall exesed ths above
nalrsd proportion, no more u 10 notes shall b
rid out Or otherwiss put 10 circulation By such
, branch, nor shall such branch increase it, be
, bilities BY making any nsw loans Or discounts
I other than dscounting Or purchasing bills Of ex
! change. payable atsighs, nor make any dividend
Of its profits, until the required portion between
it, outstanding notes Of circulation and gold and
silver cois onShapd shall hs restored.
Sec. 50. Each branch Of the State BaRk shall
BE- required 70 keep in IL vaults over and above
the amount required 70 be kept for tie protec-
ton and redemption Of its circulation a. reQuir-
in the last preceding section, 81 least twenty five
per cent. or its current deposits, and shall be
prohibited from paying interest on current do
poslts.
i Sec. SO. No branch authorized under this act
shall 1t any time be indebted or in any way lia.
BILE to an amount exceeding two thirds Of ia
capital stock at such time actually paid in, and
remaining as capital stock undiminished by loss.
es or otherwise except on the following accounts
that is to say:
lss. On account its notes Of circulation.
I'd. On account Of moneys deposited with or
collected by such branch. AHs
Sd. On account Of bills Of exchange or drafts
drawn against money actually on deposit to the
4 credit OF, or due to such branch.
4 4th. Liabilities TO its stockholders on account
Of money paid in on capital stock, dividende
thereon, and undivided profits.
Nor shall any branch, either directly or indi-
rectiy, pledge, hypothecate, or exchange any Of
its notes Of circulation for the purpose Of pro-
curing money, to be paid in on its capital stock,
nor pledge or hypothecate directly or indirectly
| any of such notes to be used in it's ordinary
banking operation.
Sec. "a. No branch shall, during the time il
shall continue ts operation as branch, with
draw or permit to be Withdrawn, either in form
I Of dividends or loans TO stockholders for long
| er period Of time than four months. or in any
other manner, any portion Of it's capital stock !;
and If losses shall at any time have been sus-
tanned BY any branch, equal TO or exceeding its
| undivided profits then on hand no dividends
| shall be made, and no dividends shall ever be
made BY any branch while it shall continue its
banking operations to an amount greater than
its nett profits then on hand, deducting there
from it's losses and bad and suspended debts
and all debts due and unpaid for 4 period Of elk
months, unless the same shall be well secured,
and shall be in the process Of collection, shall
be considered bad or suspended debts, within
the meaning Of this section
Sec. 35. The directors of each branch shall
semi.aEnually on the first Monday in May and
November, declare dividend of SO much Of the
nett profits of the branch as they may
deem expedient and shall be approved BY
the State Bank !; and on each dividend day
the cashier shall make a full, clear and accurate
statement Of the condition OF the branch as it
shall be on that day, after declaring the divi-
dend, which shall be verified by the oath of the
Cashier, President, and two of the Directors; and
similar statements verified in like manner shall
also be made on the first Monday in each month
IN each year, which statement shall contain:
lst. The amount Of the capital stock actually |
PAID in, and then remaining the capital stock |
of the branch. F
I'd. The amount Of the bills or notes Of the |
branch then in circulation, specifying the amt |
OF each denomination.
3D. The greatest amount in circulation at ans
time since the making of the last previous state
ment as shall have been exhibited BY the weekly |
statements Of the Cashier, specifying the time
when the same occurred.
4th. The amount of debts of every kind due
to the branches of the State Bank OF Iowa, the
amount due to other Banks of the State, and
the amount due to Banks not Of this State.
9TH The amount due to depositors.
9Th The total amounts OF debts and liabili.
ties OF every description, and the greatest amt
since the making Of the last previou statement,
specifying the time when the same occurred, as
exhibited blythe weekly statement Of the branch
7th. The total amount Of dividends declared
on the day Of making the statement
Sth. The amount OF gold and silver coin and
bullion belonging to such branch, and in it, pos
session at the time Of making tile statement.
designating the amount Of each.
9th. The amount subject to be drawn at sight,
then remaining on deposit with solvent Banks,
or Bankers Of the country, specifying each city
or town. and the amount deposited in each.
10th. The amount then on hand, OF bills or
notes issued by branches Of the State Bank of
Iowa, the amount issued by other Banks Of this
State, and the amount issued by Banks not Of
this State.
llth. The amount of balances due from
branches OF the State Bank Of Iowa, the amount
due from other Banks OF this State, AMI the
amount due from the Banks not of this State,
in the latter case, deposits in the
cities Of New York, Philadelphia, Boston, Balti.
more, and other cities and towns subject to q
sight drafts.
18th. The amount on hand Of bills bonds, /
notes, and other evidences OF debts, discounted
or purchased BY the branch, specifying partic. ,
ularly The amount of suspended debts, the I
amount considered good the amount consider q
ed doubtful, amount in suit or Judgment. I
18th. The value Of real and personal pro. i
perty. held for the convenience Of the branch. !
specifying the amount Of each :
l4th. The amount Of real estate taken in 4
payment Of debts due the branch. \
10Th. The amount of undivided profits of q
he branch. !
10th. The total amount Of the liabilities to =
he branch by the Directors thereof, collective. !
y, specifying the gross amount Of such liabili- s
les as principal debtors, and the gross amount j
- endorsers or sureties. 81 !,
18th. The total amount Of, liabilities to the y
'ranch OF the stockholders thereof collec lively
peclfyng the gross amount Of such liabilities :,
. principal debtors, and the gross amount al j
ndoraers or sureties; which statement shall be o
orthwith transmitted to the State Bank Of !,
owa, and the Auditor Of State. i
An abstract OF every statement, showing tie 81
ondition Of the branch shall be Immediately u
ublished by the branch in some newspaper
rlnted in the county where such branch il Sit :,
ated, copy OF which Statement shall be sent Vi
0 each branch Of the State Bank Of Iowa. :,
Sec. 80. The General Assembly shall never :,
npose any greater tax uoon property employed Of
, banking under this act, than is or NAV be
imposed upon the property Of individuals. m
Sec ". Each branch may take, receive. or N
harge on any loan or discount made, or upon q,
~ note or bill Of exchange, or other evidence %
debt, discounted or purchased by them, in. IN
crest It the rate Of ten per cehtum per annum
the amount OF any such note, bill Of ex. 70
mango, or o:her evidence of debt so discounted M
: purchased and no more, until the first day Of n
ASoOS al
per cent. shall be SO taken, received or char. %
20. Propided, however, that interest may be II,
served or taken in advance at the time Of m
aking the loan or discount, according to the m
'nal rates OF banking, as calculatedein Row h.
ts tables; and the knowingly taking, receiy. of
6 or charging on any debt or demand dis ~
'unted or purchased by any branch, q rale Of A.
terest greater than that allowed BY this sec. -
IN, shall be held and adjudged forfeiture Of ~
On debt or demand. but The purchase Of ~,
ma hde bill Of exchange or note PAYABLE A. 81,
'other place than the place OF such purchase -,
discount, and the taking or reserying inter. ns
thereon at the rate aforesaid, from the time =,
sueh purchase Or discount until the maturity mi
such bill or note, shall not be held usurous D. o."
hough exchange on the place where Il Il -
ade payable is at the time Of such purchase or =.
'counf, worth premium; nor shall the dis- 49, 49,
unit or purchase OF bona fide bill or nnte -,
yable at place, between which and the MACE -.
NVnA -