Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1861-10-23


words "lccate at to-, ia the lsth line u SAD sec
tiou tile words ''yl 70 tile judge at chahhfrs
section 4. Evvfy bank AND banking association now
o,aDized ia this Stats and Al hanks aud banking
soeiaiuns THAT shall be organized before the nrSt az
December, 1851, except sns oapSs snl sHnSl,g NJ
es 81 sisWaakte aud Madison shall, ON OF before sa'1
rs lay nf Deeember Eext, appoint an aSeats WHO ahal
ce, ali Office ia tbs city Of Shwaukee ~ ~ thS cay
M a,gisnn dor tie reclamation Of all VcnlAting mites
issued by such bank tanking association, NNeh
shalt be presented TO such agent Tor laymen' or
section s. The appointment or such agent shall y
made ia writing; and sach written appoinimenI sha
DC delivered The bank comptroller or before saA
day OF Dec nlbtr next who sls'l hie the same ~
bis Office II any bank or banking association shAi
neglect or refuse to appoint such agent Ml'mn .ii0
time above mentioned the bank comptroller shah APP
POINT such agent Tor such bank OF banking sssoeia-
section a. The bank copsptrollcr shall Immediately
after day Of Dec mUes noxt daring such tlas
as he may deem advisable, publish list OF such agents
daily newspaper published IN TIM ssty q Msd,-
,'sxauece, the expense whereof shall be equally d.
ved Nung The several banks or banking associations
30 published, and be pa.a ~ Them 70 INC eon,i'loiw
an e,nand under penalty OF Forfeiture Of one haAdtd
o,Iars IA be colec aud applied as poyieed in re-
stee 10 The forfeiture naueG 70 secth ~ chapter ",
81 the Revised Statues. IN. ,.-
fater organized shall before receiving any cfculHhbs
from thp hak comptroller, appoint an ag.h. ios
the purposes 81 this act; and SUCH appointment she
be immediately published in the lsanner aloresaiu az
expense such bank bankng association, 70 be
Section 4 Appointments OF agents made In pursW-
ance AZ this act, may bs revoked aud new appointments
Of agents ia4de from time 10 time, by delivering sneh
revocation aad appointment 10 the bank comptroller
who shall % to be published ~ bole pro-
vided.
Section O. 1t shall be lawful for any number Of banks
or banking associations authorized By this act 70 ape
point agent associate together Tor raising JOINT
fund Tie placed in The hands OF THEN common agent
he redemption Of Their circulating sn'S, - te
noes OF other lauks IN such maaner, and under suen
regulations may b. agreed upon aud 70 employ sueh
" ns aud clerks a. they may atelh necessary y carry
~ e la.insss Of stieA common agency tut nothing
IN til. $, elton contained shall authorize me leIcsnp
lion purchase ~ saeii agshcf 81 any e,'Sus' s
mar re IKE such banks ffcm any daty of rsAahHy ~"
quired impose by this act.
Section 10 Every such bank aud uankng associa-
ton this Sats except such BANKS or banNtns Assoc
cations as now may hereafter be located "a the
cities of Milwaukee and M2Qlson, shall redeem ana ray
On demand, ia The lawful Weiey 81 tue ta tea states,
al circulating notes ssu, py such banks on tani4nS
assaeatuns presentsd TOR redemption AZ the ONCE ~
ne agent 4 such bank backing association, Nar'ng
the usual hours Of Of brokers, between lio
hu Is Of ten and three o'clock, al rate OF dseenut
not exceeding three ioarths Of one per cent
Section IL Every bank or banking GsSociston,
wcs aren't Shall gect refuse 10 redt its notes
On demand as aforesaid shalt, proof being madc
+, the hsnk compt ocr OF such neglect refusal by
he aiav, " the person who pre- en 81 aid nvtesler
redemption Or paymcu., and on depositng IN hia Or
Ace ihe notes presented, be ubeet 70 Inc same PEN
allies aud he m oceeded against in the same manner, as
a. n,s nrnyijd bv aw for cases where the circulating
notes III any bank or banking association are proes1vo
lor non pa, mont unless the compraler shall % SAL
isGed that there Is COED and legal science ASNnSs 'e
payment oil such notes.
section ID Every bank and banking association
shall redeem its circulating notes as now provided BY
law but IN Of neglect or refusal TO redeem iis
notes ON presenteton at its counter, and Of protest
therefor such bank or banking association, It not lo
lated within the city OF Milwaukee, or the city 81 Mad
son shall not liable to the holder Of such notes Tor
damages pr0cided II shall within hiteen days atter
receiving notice from the comptroller TO pay the same
40. Il not. IN
states with interest at the ae q ueth per cent per
annnm prosiaed That tte the ofh officers Oh
such bank banking osaton 50 neg leeung OF re-
rsing t. redeem It's notes on demand, may ehuofso
unen the bills packages ct bills 40 presented IN hc
acknowledgement OF such presentaton and refusal, and
,iying nrtst upon the 81 me; aud such endorsement
shall he held a evidence OF th' statement therein
made. -
hereafter receive upon the deposit of bonds circulating
notes amount exceeding three lines us b0Hn nae
cash capla actually pal in, ard the bank eonptolier
is hereby authorized aud required to ascertain what
the actual cash capital Of any bank OF banking assocla
lion applying Tor circuatioi except IN exenSsge tor
mutited bills, may be- and for ths purpose he IS aus
tharized TO examine any person oath, aud 10 compel
answers under OATH from any officer or stockhouer OF
any bank or banking association ~ aipsinS % any
Section II. No bank or banking association shall
hereafter be gained in this state, nor shall any mere
circulating notes be issued TO any bank or banking az
socatinn in this state, unless said bnnk 81 bankinB
association shall nave bona has cash capital o. ~
least fifteen thoaaNnd dollars actually paid in, which
Shall remain in such bank or banking association
ca,,ital and employed Ia legitimate banking at tbs
MACE where the bauk is Gated; Ind il is hereby de-
clarcd that he bonds deposited with the bank comp
lrole shall not be considered US any eyioeneo 81 the
exi of capital IN any such bank or Dankng assoc
cati1n nor Of the amount and extent OF such capital
aud ii Is hereby made the duty 81 the comptrollvr be-
fore il sniua circulating notes 70 Ahy hneh
back banking association now organlAeos oi W.
shall be hereafter ORGANIZED except IN exchange ler
nutllated notes. 10 satisfy himself by an "xainaon
under oath Of an oaer or stoeshclisr o. sHeh ,AnA
or bsnkine ASSOCIATION that il has fully compiled with
the OF thiS section ans ~ the eNl pre-
C, ding section Of This act ane for TIE purpose Z" sush
cA examination the comptroller Or Ia his aA"ncs ihe
d~,u, conlptracr u hereby authorized 70 aanipstrr
oaihs Prortded That nothing IN this act contolnea
stall be so Construed rs 10 permit any laLa f@uo
circulating noies 10 any greater amount lnan Us
scciioa Is. From and after the alst day Of lcecm-
Der next X shall not be lawful for any bank or banking
associatc q, banker, broker company Or corporation,
70 circuat, attempt 70 clcuials ~ 70 pay Out ~
money any bill note or otlcr evide1ce OF dcbt ~
sued or purporiing 20 have been issued by any Dhnh
hankinc as,o. atien company. corporation CT ndirid
ual located residing out o. this siale, unless sMa
bill noie oreyidenec Of debt shall lof ne W. -
months preceding such circulating pas ing out nave
been rsdreuable the city Of New York OF boston IA
current mon OF the unIted stat ., al rate " ols,
count not exceeding three0ulhs 81 one per cent hh1
the decision OF the bank comptroiief ~ - tne " ~
such dis; cunt shall be hna ana conclusive. ,-ses
bank 0atkng sssociaii"n, tanker or ofokes, esf,
conpany attending against me Pro,l'lons -
fhis section shall forfeit Tor each and every cd.5.se Wy
sum hundred dollars, 70 be recovered with cus
OF suit the and Tor the use OF any person "ho
Hhail sue for the same aud prosecute snch SAT- 70
indictment in any court having coglizsuce thereof
section TO- Each and every person owning @ hold-
ng stock Ia any hank lAuking assOcIacn, who shall
sell Il nser assis his stock any rorhon theie-
Of Ia an, such bank banking association, SHAH bs
held and remain for the term 81 six months rom ana
after snrh sale transfer assignment al aforosaiut
peronay Liable tbs amount 81 stock 80 as ni0refata
solc, transferred assigned by him Tor The payment
&c ak the debts and Liabilities OF such hank o. 1nhkn9
ssogion exisag the time = euch AAls, uansiSf %
section ii This act shall sake effect and be IN force
ON and after the first G1y VI December, eENlexn
hundred II sixty-one. -,
Section IS An acis parts cf acts conflicting with,
or in any way coniascning the provisions o. TINS act-
are hereby repealed.
ection 10 AT the general election 10 be led on the
Tuesday d succeeding The Isi Monday IN November
IN VI ear 1881, "a all the usual places o. holong
ele i0ns III this State foi the election Of all oiieefh
required By law then be eeee, The question wbeih-
this act shall law and 20 into elect, OF IN
any manner be in iorce shall b. submitted 70 the people
and If the Same shall approyedb BY majority Of all
the votes cast The suisci, shall go into into ehecti
Otherwise il sa not 20 into elect nor be IN force
eclisn ~. The votes cast OF the subject ~ tcnsu
Ia the last preceding section sha be By separate Oea
tot, and shall have written printed, partly WIZ
ca and parity PRINTED each Of them, ~ rseiV.
For Anne moments to the Banking Law OF, against
Amendments 10 the Banking Law; which words
sh,i indicate the Tor against the approval OK
this aud the ballots cast fba! be csnta SEQ and
returned ia he m er a. The votes cast iu State
officers are REQUIRED Isl m 70 be canyassed, and the
secretary OF State shall ym*diAely, % Tue eelnpe-
tioo I'd .aid caqyAs rspisl statement Df The result
thr96F in ne efc,a ktes~ paper, and shai comDuui-
IT. 10 ss,.e 10 the lest legislature NJ the conmeeee-
.ha AfS4rr. and fe Mail a40 deliver Tia