Prescott journal. [volume] (Prescott, Wis.) 1861-1871, 1861-10-23
General Election Notice.
For Pierce County.

of Hans @. Heg; whose several terms OF OFFICE
will expire on the 3lst day Of December, 1901.
A State Senator, for the twenty eighth Sen
ate District, comprising the Counties OF Pierce,
St Croix. Polk, Dallas, Burnett, Douglas, La
Poiete and Ashland, whose term of office VIII
expire on the first Monday of January, 1864
A Member of Assembly, for the Assembly
District comprising the Counties OF Pierce and
ST. Croix.
One or two County Superintendent of
Schools. in the several Superintendent DIS
tricts, as determined by the County Board OF
supervisors.
County supervisors, in the several supervi-
sor Districts and such other County Ofhcers
as are by law required to be elected at such
election.
At the same election the question will be
taken upon the approval by the people, of the
amendments proposed to the General Banking
Law, by Chapter 242 OF the General Laws OF
1861, as amended by Chapter of the General
Laws of the Extra Session of 1861, as follows:
CHAPTER 242.
As Amcn1cd By Chapter /, Extra Session.
AN ACT to amend the General Banking Law,
and the several acts amendatory thereof.
The people of the State Of Wisconsin, repre-
scntcd in Senate and assembly, do enact as fol-
lo,CS:
Section l. Section %, of Chapter II, of the
Revised Statutes, with the thereunto belong
ING amendment (see chapter 50 of the Gen
eral Laws of 1859 is hereby amended as fol-
lows: by striking out the following words
"Said stocks to be valued at a rate to be estl-
mated and governed by the average rate at
which said stocks have been sold in the city of
New York, within the next SIX months prece-
ding the time when such stocks may be left
on deposit with the Comptroller" By stTi-
king out the words equal to" and inserting
after the words mot exceeding" the words
So in value" By striking out the following
words but such public stocks shall in all ca
ses, be, or be made to be equal to a stock pro-
ducing six per cent. per anrum and it shall
not be lawful for the Bank Comptroller to take
such stock at a rate above its par value, nor
above its current market value III the city OF
New York at the time of deposit by such
person or association of persons, and Inserting
in lieu thereof the following land it shall be
lawful for the bank comptroller to issue for
public stocks which have been ranging at or
above par during the last six months. and up
to the time of deposit in the New York mar
ket, circulating notes up TO the par value OF
said stocks; but the Comptroller shall not is
sue tor public stocks ranging below par in
said market more circulation than ninety per
cent. of the current market value OF SAID stocks
at the time of deposit nor more than ninety
per cent. of the average market value during
the last six months have been at and above as
well as below par, the Comptroller shall not
issue more than ninety per cent. OF the aver
age value during the last six months. nor in
any event more than ninety per cent. of its
market value the Lay of deposit, nor mole
than ninety per cent. of the par value of such
stocks - so that the said section shall hence
forth read as follows Whenever, hereafter
auy person or association of persons formed
for the purpose of banking under the provis-
ions of this chapter, shall duly assign and
transfer in trust to the Treasurer of this State,
any portion of the public stocks issued to
be issued by the United States or any State
stocks, on which full interest is annually paid,
such person or association of persons shall be
entitled to receive from the Bank Comptroller
an amount of such circulating notes of differ
ent denominations, registered and counter
signed. and not exceeding in value the amount
of pablo stocks assigned and transferred as
aforesaid and it shall be lawful for the Bank
Comptroller to issue for public stocks, which
have been ranging at or above par during the
last six months and up to the time of deposit
in New York market circulating notes up to
the par value of said stocks, but the Comp.
roller shall not issue for public stocks ranging
below par in said market, more circulation
than ninety per cent of the current market
value of said stocks az the time of deposit, nor
more than ninety per cent. OF the average
market value during the last six months and
for such stocks as during the last six months
have been at and above as well as below par.
the Comptroller shall not issue more than
ninety per cent. of the average value during
the last six months, nor in any event more
than ninety per cent. of its market value Oh
the day of deposit. nor more than ninety per
cent. of the par value ofsuch stocks Provt-
ded. that if in the opinion of the Bank Comp
troller, together with the Governor and Secre-
tary of State, any stocks offered shall be DEEM
ed insecure, they shall not be received as such
securities under the provisions of this act
And prorided furlh'r, that from and after the
first day of December, 1861, the Bank Comp
troller shall not receive as security for circula
ting Bank n totes, any other public stocks
than those issued by the State of Wisconsin
and the Unitnd States
Section 2. Any public stocks described in
the preceding section, and issued at a rate of
interest less than ) per cent. per annum to be
receivable by the Bank Comptroller, shall be
made to be equal to stocks producing five per
cent. per annum.
Section 3. Section 40 of chapter II of the
Revised Statutes, is hereby amended by IN
serting between the words "located" and "to'
in the 18th line of said section, the words cor
to the Judge at chambers
Section f. Every bank and banking associ-
alton now organized in this State, and all
banks and banking associations that shall be
organized before the first day of December
1861, except such banks and banking associa-
tons as or may hereafter be located in the
cities OF Milwaukee and Madison, shall, on or
before said first day of December next appoint
an agent, who shall keep an office in the city
of Milwaukee, or in the city of Madison, for
the redemption of all circulating notes issued
by such bank or banking association, which
shall be presented to such agent for payment
or redemption.
Section 5. The appointment of such agent
shall be made in writing, and such written APP
pointment shall be delivered to the Bank
Comptroller on or before said first day of De-
cember next, who shall file the same in his of
fee. If any bank or banking association
shall neglect or refuse to appoint such agent
within the time above mentioned. the Bank
Comptroller shall appoint such agent for such
bank or banking association.
Section 6. The Bank Comptroller shall. inn
mediately after said first day of December
next during such time as he may deem advi-
sable. publish list of such agents in one-dai-
ly newspaper published in the city of Madi-
son. aud in one daily newspaper published in
the city of Milwaukee. the expense whereof