Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1861-08-16

tai of least s15 600 ually paid in viii ch shall
remain in such bank banking association capi-
tal and employed in legitimate banking az the plae
lere the bank i located aad it is hereby de-
ciared that the bonds deposited with the bank comp
troiler shall not be considered any evidence Of the
existence OF capital in any such bank banking
sociation, of the amount extent of such capi-
tai and is hereby made the duty of the
Ter, before issuing any circulating any
such bank or banking association org anized, or
that shall be hereafter organized except III exchan
for mutilated notes, to satisfy himself by exami-
nation under oath OF officer or stakeholder of such
bank or banking association that it has fully complied
with the provisions of this section, and OF the next
proceeding section of this act. and for the purposes
OF such examination the comptroller, or in his ab-
to administer oaths PT0rids3, that nothing this
act contained ha be SO con -trued as to rernit any
bank 10 issue circulating notes any greater amount
than its nominal capital. -.. -...-
Section Is. From and after the first day of Decem-
Der shall not be lawful for any bank or bank
ing associations banker, broker company corpora
ton. circulate attempt to circulate or TO paw
out as morey, any bill, note or other evidence OF
debt, issued or purportlrg 20 have been issued by
any bans, banking ociation company corporation
individual located re>id out OF this state un-
less said bill, or note or evidence CT debt 81 l.
the last six months preceding such circulating or
paying out, have been reieemable in the city New
York O.ton in current oney Of the United
States, at a rate of discount EXCEEDING three
fourths Of one per cent and the dcc ion OF the ank
comptroller the rate of such di counc shall be
final and conclusive. Every bank or banking a-Soci-
alton. banker or broker, corporation or company, Of
Tending against the provisions this section latl
forfeit each and every Ofen$e he hun
dred doIar TO De recovered WIFI costs OF suit in he
and for the OF any person who shall sue Tor
the same and prosecute such suit 10 Judgment in
any court having cognizance thereof.
Section 1G Each and every person owning 2 or hold
ing stock in any bank or banking association who
shall sell, transfer assign his stock or any portion
thereof, in any such bank or banking association,
shall be held, and remain for the term OF six mouth
from and after uch sale. transfer assignment a.
afore- aid onally liable the tock
as aforesaid old transferred or assigned by him for
the payment of all the debts and liabilities of such
bank or banking associations existing at the time of
such sale, transfer CT assignment.
Section Il. This shall take effect aad be in
force from and after the first day Of December 1851.
Section Is. All acts or parts of acts conflicting
with, or in any way contraTe ling the provisions of
this act, hereby repealed.
Section 10. At the general election to be held on
tie Tue day next succeeding the first Monday in No
yemher, in the year 1861 all the usual places of
holding elections in this State for the election of all
officers required by law then to be elected, the ques
ton whether this act shall become law and go into
effect, or in any manner be in force shall be submit
ted 10 the people, and if the shall lie approved
by majority OF all the votes cast on the subject 1t
shall go into effect otherwise, it shall not go into
effect be in force.
Section 20. The votes cast on the subject spccif-
ed in the last preceding section shall be by separate
ballot, and shall have written printed partly
written and partly printed, each of them the
words: ssFor amendments to the Banking law or
E'AgainSt Amendments to the Banking Law which
words shall indicate the for against the ap-
proya of this act and the ballots so east shall be
canYasSed and returned IL The aIle manner as the
votes cast for State Officers required by law to be
canvassed, and the Secretary OF State shall mmedi-
ately, the completion of said canvass publish a
statement Of the result Thereof in the official State
paper, and shall Communicate the same to the next
legislature at the commen ce1neht OF the session. and
he shall also deliver to the state Treasurer ccrtif-
ed copy thereof with a emen OF the result the
canvass upon the subject in ulediateiy after the
pletion of the canvass.
Chapter 2l2, approved April Is, 1861. Chapter l,
Extra Session, approved May p. 1851.
Said election to be conducted the votes canvassed
and returns made in with the provisions
of Chapter OF the Revised Statutes Of 1855.
Dated Sheriffs Office Jefferson, Aug.S, 1861,
HEBER SMITH.
Sheriff. jeT Co., Wis.