The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1861-10-12
aENIPORIA KANSAS, SATURDAY. OCTOBER ID. 1861

business, shall notify the State Auditor of such
intention, then and in such ease.it shah be com
petent for said bank or bankers to redeem and
deposit with the Auditor of State from time to
time. any amount of their circulating notes which
may have beer issued to said association, bank or
bankers. in sums, however, not less than
thousand dollars at any one time, and to receive
therefor and with draw equal amount of securi
ties by them deposited with the Auditor of State;
but no bank shall continue 10 transact any bust
ness whatever, further than what may be required
TO close up after their capital stock securities or
circulation shall have been reduced to- less than
twenty five thousand dollars, nor in any case at
ter two years from the date of said notice of in
teBtion TO relinquish and close up their banking
business, as aforesaid; and whenever the retiring
bank or bankers shall desire to withdraw all the
securities heretofore lodged with the Auditor of
State, they may do so, by producing and fling
to his credit in such bank he shall approve of.
an equal amount with the circulating notes of
such bank or banks then remaining unredeemed.
and the Auditor of State, on being satisfied of
such deposits, and of the suficency thereof, shall
give up all the remaining securities heretofore de-
/ posted by such bank or bankers for the redemp-
ton Of the circulating notes issued.
SEC "a Such banking association o. ",lfrs
j after having complied with the provisiO..-
last preceding section, shall give notice, for two
years, in some newspaper printed in the county
where such bank shall have been located, and in
a paper printed at the seat of government of this
banking association or banker must be present
ed at the Auditor of States office, within 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 association or
banker: and. on receiving satisfactory proof of
the giving of such notice for the time aforesaid !,
! the Auditor of State shall surrender to the order
1 of such banking association or banker, any se
! curities which he nay hold for the payment of
any unredeemed notes of the said banking asso-
citation or bankers.
I SEQ. 25 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 equal amount of the cir
cuating 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 securities thus with
drawn by deposits of said circulating notes, shall
/ not reduce the amount Of stock securities remain
ing in the hands of the Auditor of State, to less
| than twenty-five thousand dollars.
| SEC. 26. The securities to be deposited with the
! Auditor of State, in trust by any association or
banker, shall be held by him exclusively for the
! redemption Of the bills or notes of such bank,
put in circulation money, until the same are
paid and returned to tn Auditor of State as pro-
! vided in this act; but the Auditor of State may
assign said securities to said ISOLATION bank
er transferring the same, upon receiving therefor
! equivalent securities, or an equivalent amount in
circulating notes issued by such bank, as provid-
/ ed in section twenty five of this act.
4 SEC. 81 All circulating notes of banks or bank
&c,
shall be destroyed by him in presence of the Gov
Il ernor and an authorized officer of the bank after
he shall have made record of the same, which
shall specify the number of each note, its date,
and by whom it was countersigned in the books
to be kept by himself for registering circulating
| notes.
SEC. %. 1t shall be the duty of the Auditor of
State to receive mutilated circulating issued
by him, and after making record of them their
denomination and amount, to deliver, in lieu
thereof, circulating notes to the same amount.
| SEC. 80 The bills or notes of any bank or
banking association shall be, at all times receiv-
ed by the same in payment of all debts [duel to
! such bank or banking association.
SEC. 80. If the declared capital of any banking
association shall be reduced for any purpose what
| ever, while any debts of the association remain
unsatisfied dividend profits in the shares of
the capital stock of the association shall thereaf-
ter be made, until the deficit of the capital shall
be made good, either by subscription of the share
holders, or out of the subsequent accruing prof
its of the association; and if it shall appear that
any such dividends have been made it shall be
the duty of any Judge of the District Court of the
county in which said bank is located, on applica-
ton of any person in interest, to make the neces-
sary orders and DEGREES for the closing of the af
fairs of the association and distribute its prop.
erty and effects among its creditors and share
holders. . g. --
SEC 81. The officers or agents of any banking
association or banker, who shall pay out, to be
put in circulation money in this State, any bill
note. certificate of deposit, or other paper having
| the siDilitude of Il bank note, knowing the same
to have been issued otherwise than by the author
ity of this any other State of the United States
or the Congress of the United States, or of the
British Possessions, shall, for each offense, upon
conviction thereof, be adjudged guilty of INSIDE
meanOr, and shall be punished by fine of not less
than one hundred dollars, by not less tn an
three nor more than twelve months Imprisonment,
or both by fine and imprisonment.
| SEC. 30. Such bank or banking association NAV
demand, and receive. for loans on real and per-
sonal security, or for notes, bills or other evil
dences of debts discounted, such rates of
| as may be agreed upon by the parties subject,
! however, to general laws regulating and fixing
the rate of inteFest-and it shall be lawful to re
ceive the interest in advance according to the or
binary usage of banking institutons-and in
general do all things and have all the privileges
incident TO banking associations corporations.
| SEC. SO. Every bank or banking association
I shall, on the first Monday of January, April Ju-
| ly and October, in every year, after having com
I menced the business of banking as provided in
this act, make and smit the Auditor of State
a report, which shall be made oath of the pres
| ident and cashier, and shall contain true state
ment of the following items, on the mornings of
the first Monday of January, April, July and
October, before any business of that day: Loans
and discounts; over drafts due from banks; due
from directors Of said banks; real estate; specie:
! cash items; stock and promissory notes; bills of
solvent banks; bills of suspended banks; loss :;
/ expense account; capital; circulation; amount
due to depositOrs demand; amount due,
not included under either OF the above
heads And it shall be the duty of the Auditor
Of State to eollate and pdbIf-h said report once,
in some newspaper printed at the seat of govern
ment and in the county in which said bank or
banks are located, and the expense thereof shall
| be betrayed by the banks; and, if any bank shall
fail to furnish TO the Auditor its quarterly report
! IN time for such publication, or shall fail to pay
the expenses incurred in the publication of It's re-
/ port, when they shall be demanded by him, it
shall forfeit and pay the Auditor of State the sum
! of one hundred dollars, 10 be applied by him to
the expense of publishing the Quarterly reports
and the Auditor of State is authorized to collect
said forfeiture IN his name, upon his application
county where such delinquent bank may be To-
Gated. The Auditor of State shall, also. trans
nit. annually, to the Legislature, at the com
of all the items reported TO him by all the banks
which summary, verified by his oath, shall con
tain true and correct statement of the condition