White Cloud Kansas chief. [volume] (White Cloud, Kan.) 1857-1872, 1861-10-10

mount of securities by them deposited with
be Auditor of State; but no bank shall contin-
10 In transact any business whatever, further
han what may be required to close up after
heir capital stock, securities or circulation shall
,aye been reduced to less than twenty i've thou
and dollars nor in any case alter two years
rom the date of said notice Of intention to re-
ipouisb and close up their banking business, as
and whenever the retiring bank or
bankers shall desire to withdraw all the secu:i-
lies heretofore lodged with the Auditor OF State,
they may do so, by producing and fiing with
the Auditor of State a certi6cdtc Of deposit TO
his credit, in such bank as he shall approve oil,
m equal amount with the circulating notes oil
such bank or banks then remaining unredeem-
ed, and the Auditor of State, on being sansned
of such deposits, and Of the suficiency thereof,
shall give up all the remaining securities there
tofore deposited BY such bank or bankers for
the redemption of such circulating notes issued.
SEC. "a. Such banking association or banker,
after having complied with the provisions of the
last preceding section, shall give notice, for two
years, in some newspaper printed in tie County
where such bank shall have been located, and
in paper printed at the seat of government Of
this State, that all circulating notes issued by
such banking association or banker must De
at the Auditor of States office, with
in two years from the date of such notice, or
that the funds deposited for the redemption OF
the notes will be given up to the banking asso-
citation or banker; and, on receiving satisfacto
~ proof of the giving of such notice for the
time aforesaid, the Auditor of State shall sur
render to the order of such banking association
or banker, any securities which he may hold
for the payment of any unredeemed notes OF
the said banking association or banker.
SEC IS. Any banking association or banker
wishing to withdraw any of the securities by
them deposited with the Auditor of State, may
do SO by depositing an equal amount Of the cir
culating notes which may have been issued to
said association or banker by the Auditor OF
State, in sums of not less than one thousand
dollars; Provided, That the amount of securi-
ties thus Withdrawn by deposits of said circula-
ting notes, shall not reduce the amount Of stock
securities remaining in the hands of the Audit
or of State, to less than twenty five thousand
dollars. E'T
SEC. 26. The securities to be deposited with
the Auditor of State, in trust, by any associa-
ton or banker, shall be held by him exclusive
ly for the redemption OF the bills or notes of
such bank, put in circulation as money, until
the same are paid and returned to the Auditor
of State, as provided in this act; but the Aud
itor of State NAV assign said securities to said
association or banker transferring the same,
upon receiving therefor equivalent securities,
or an equivalent amount in circulating notes
;ssued by such bank, as provided in section
twenty live of this act.
SEC. 81. All circulating notes of banks or
banking associations, returned to the Auditor
of State, shall be DESTROYED BY him in presence
of the Governor and an authorized officer ofthe
bank, after he shall have made a record of the
same. which shall specify the number of each
note, its date, and by whom it was countersign-
ed in the books to be kept by himself for regis
terins circulating notes.
SEC. %. 1t shall be the duty of the Auditor
of State to receive mutilated circulating notes
issued by him, and after making a record OF
them, their denomination and amount, to deliv.
err in lieu thereof, circulating notes to the same
amount.
SEC. %. The bills or notes of any bank OF
banking association shall be, at all times, re-
ceiyed by the same in payment of all debts
Gduel to such bank or banking association.
SEC. 30. If the declared capital of any bank.
ing association ehall be reduced for any purpose
whatever. while the debts of the association re.
main unsatisfed, no dividend or profits in the
| shares OF the capital STOCK OF the association
shall thereafter be made, until the deficit of the
capital shall be made good, either by subscrip.
ton of the shareholders, or out of the subse.
ouent accruing profits of the association: and
| If il shall appear that any such dividends have
been made it shall be the duty of any Judge oil
the District Court of the County in which said
hank is located, on application of any person in
interest, to make the necessary orders and de.
crees for the closing of the affairs of the associ
alton, and distribute its property and effects
among the creditors and shareholders.
| SEC 81. The officers or agents of any bank
ing association or banker, who shall paw out, te
onv hill. note. certificate of deposit. or otbe,
| Manor having the simlitude of a bank note
knowing the same to have been issued other
wise than nv the authority of this or any othel
State of the United States or of the British
| Possessions. shall for each offense. upon conyic
| tion thereof. he adudged guilty of misdemeanor
and shall he fined by not less than one hundred
dollars. or'by not less than three nor more tina,
twelve months imprisonment. or both by fine
and imprisonment.
Src. 20. Such bank or banking association
NAV demand, and receive, for loans on real anc
personal security, or for notes, bills or othe
terest ma NAV be agreed upon by the parties
subject, however, to general laws regulatins
and fixing the rate of interest-and it shall b,
lawful to receive the interest in advance, &C
cordinp to the ordinary usage of banking insti
tutions-and in general do all things and hav,
all the privileges incident to banking associa
tions or generations.
SEC. 80. Every bank or banking association
shall, on the first Monday of January, April, Ju
ly and October, in every year, after havin:
commenced the business of banking as proyi
ded in this act, make and transmit to the Audi
tor of State a report, which shall be made OF
oath of the president and cashier, and shall con
tain a true statement of the following items