The Smoky Hill and Republican union. [volume] (Junction City, Kan.) 1861-1864, 1861-10-03

SEC. 10. Such person or association OF per-
sons, under their hands and seals. shall make
a certificate which shall specify, first. the name
assumed to distinguish the bank to be estab-
liahed pursuant to this act, and to be used in
all its dealings, which name shall not be that
of any other bank in this State second, the
place where the business Of discount or deposit
of such bank is to be carried on, designat ting
the particular city, town. village, and county
third, the amount of capital stock of such bank,
and the number Of shares into which the same
shall be divided fourth, the name and place
Of residence of the shareholder or sharehold-
ers in such bank, and the number of shares
held by them respectively; fifth, the period at
which such bank shall commence, which GER
tifcate shall be acknowledged and recorded in
the office Of the register of deeds of the county
where the Office Of such bank may be estab-
lished, and copy thereof shall be filed in
the Office of the Auditor of State, and. upon
the recording of such certificate, the person or
persons aforesaid shall become q body polite
and corporate. by the name assumed as afore-
said, and by such name shall have power to
contract and be contracted with, sued and be
sued, and shall have all other powers, privi-
leges and immunities incident to corporations,
and applicable to the END of such establish
ments subject to the provisions and restrictions
Of this act.
SEC II. A copy of the certificate required
by the next preceding sections, duly certified
by the register Of deeds of the county, or by
the Auditor of State, may be used as evidence
in all courts for or against such bank or any
person or persons for or against whom any
such evidence may be necessary, whether on
civil OR criminal trial.
SEC. II. Such person or association of per-
sons shall have power to carry on the business
of banking, by discounting bills, rotes and
other evidences Of debt. by receiving deposits,
by buying and selling gold and silver bullion,
foreign coin, and foreign and inland bills OF
exchange, by loaning money on real or per-
sonal securities, and by exercising such incl
dental powers as may be necessary to carry on
such business may choose one Of their num-
Der as president, and appoint cashier and
such ether officers as their business may re-
ouire, ard to remove such president, cashier,
officers and agents at pleasure, and to appoint
others in their places but no such association
or banker shall commence the business OF
banking under this act, until such association
or banker shall have deposited with the Aud
itor of State the securities required by this
act
SEC 10. The shares in such bank shall be
deemed personal property, and shall be trans
ferable On the books of the bank in snch man
ner as may be agreed upon in the article or
ganizn such bank, and every person becom-
ing stockholder therein, shall, in proportion
t, his interest, succeed to all the rights and be
subject to all the liabilities of prior shares
holder or shareholders no change shall be
made in the articles organizing such bank,
whereby the rights, remedies or securities OF
existing creditors shall be in any way i'm
paired, and any association constituting such
bank shall not be dissolved by the death or
insanity OF any one of the shareholders therein.
SEC. II. If the maker OF makers of any such
circulating note or notes, countersigned and
registered as aforesaid, shall. at my time here
after, on lawful demand, during the usual
hours Of business, at the place where such
note or notes is or are made payable, fail or
refuse to redeem such note or notes, in the
lawful money of rhe Uaited States, the holders
of such note or notes making such demand
may cause the same to be protested, for non
payment, 10y a notary public under his official
seal but the maker or makers of such note Or
notes shall not be liable fer the expense of so
protesting the same, unless on such demand
and refusal so to redeem the same he or they
shall refuse to waive protest and notice Of
protest thereon, and such waiver Of protest
shall. in all cases, be deemed equivalent to
the regular protest thereof, and such notary
shall, on protesting the same, forthwith for
ward notice of such protest to the Auditor of
state; the notary making such protest shall
certify in his notice of protest the number of
notes on which said aging was refused, and de-
scribe them by their numbers and letters, ard
shall also certify to the aggregate amount of
said notes the Auditor Of State on receiving
and fling in his Office such protest, together
with such note or notes as aforesaid, shall
forthwith give notice, In writing, to the maker
or makers of such note or notes, to pay the
same and, if they shall omit to do so for twen-
ty days after such notice, the Auditor shall i'm
mediately thereupon, unless he shall be salts
fed there is q good and legal defense against
the payment of such note or notes, give notice
that all the circulating notes of such person or
association of persons ard coun,ersigned and
registered as aforesaid, will be redeemed out
Of the trust funds in his hands for that purpose,
which notice shall be given by publishing the
same in some newspaper printed in the county
where the business Of such bank is established,
and in some newspaper printed at the seat Of
government of this State and the Auditor of
State shall be required to apply the said trust
funds, belonging to the maker or makers Of
such protested nute or notes, to the payment
of ali circulating notes, whether protested or
not, put in circulation by the maker or makers
of such protested note Or notes, pun SAINT to the
provisions OF this act, and to adopt such meas
ures for the payment of such notes as will, in
his opinion, most effectuay prevent loss to
the holder of such notes: and, to this end, the
Auditor Of State may, after the expiration of
said twenty days, and after giving thirty days
notice, by publication in newspaper printed
at the seat Of government of this State, anu in
a daily newspaper printed in the city of New
York, proceed to sell, at the Merchants Ex-
change, in the City of NV York, at public
auction, the securities so pledged, and, out of
the proceeds of such sale shall pay pro rata
and cancel all bills and notes which have been
issued and put in circulation by such bank
under the provisions of this act but nothing
in this act contained shall be considered as
implying any pledge on the part OF Ibis State,