The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1861-09-28

banking, by 6fiscounting bills, notes. and otlit
evidences Of debt, by receiving deposits, by buy
Jag anil selling gold and silver bullion. foreign
coin and foreign and inland bills of exchange, by
leaning money on real personal securities, nd
by exercising such incidental powers as may be
necessary to carry on such business may choose
one of tn cir number as p esident, and appoint
cashier and such other officers as their business
may require. and tO remove snch presid. Mt, cash.
Ter. oficersai agents at pleasure and to appoint
others in their piaces; but no such assOciniDn or
banker shall Commence the business of banki 2
under this set, until such association ba ker
shall have deposited with the Auditor Of State the
securities required by this act.
SIC. b The shares in such bank shall be
RI d. med personal property, and shall be transfer
able on the books of the bank in such manner as
may be ag reed upon IN the article ganizngs
bank, and every person becoming stakeholder
therein shall. In proportion to his int rest sue
coed to all The rights and he subject to all the liza
biltes of prior shareholder or shar, bolders; no
change shall be made IN The articles organizing
sneh bank. whereby the rights, remedies
curities of xistiug creditors shall be in any
ner impaired, and any association Constituting
u such bank shsli not he dissolved by the death
or insanity Of any Of the slar, holders there
in.
! SEC. Ii If the maker or makers of any such
circulating not or notes, count. ned and regis
tered aforesaid. shall, at any time hereafter IN
lawful demand, during the usual hours If bust
ness, at the place where sucl, note notes is ar
are made payable, fail refuse To redeem, such
note notes in the lawful mosty of the United
Stat, the holder holders of such or
making such demand may cause the same la he
prot, sted. for non raym, Mt, by notary public
uhder lis official seal: bur the maker or maker of
such not nets shall be liable for the ex
pense of so PROT, sting the same, unl"ss. such
demand and refusal S" to redeem the same. he
they shall refuse waiv,. prot, and noice { {
protest thereon, and snch waiver of protest shall
in all Cas- :, be deemed quivarnt to the regular
Ir test thereof AID such Rotary shall, pro
testing the same, forth with forward notice Of such
III. a. II
ing such protest shall certify in his notice of pro-
r test the number of notes which said paying
? was refused, aud describe them by their numbers
and letter and shall ais" certify to the aggregate
amount of said notes. The Auditor of State, en-
f receiving and fling in his office such protest
gether with such note Rotss aforesaid, shall
forthwith give notice in writing to the maker or
max. of such note notes, to pa the same and
t il they shall omit to DO tor twenty DAYS a ter
such notice, the Audi or shall Immediately there
upon, unless he shall be satisfied tn re is good
and legal defense against the payment of such
note notes, give notice that all the circulating
: notes of such person association of persons
and countersigued and registered. aforesaid
will be redeemed out of the trust funds in his
hands for that purpose. which notice shall be
/ given 10y publishi g the same in some newspaper
printed IN the county whore the business of sUci
t bank is established, and in some newspaper
e printed at the seat of government of this State
81 and the Auditor OF State shall be required to APP
81 ply the aid trust funds belonging to the maker
= or makers of such protested note notes to the
t payment "f ali circulating notes, whether pro-
tested or not, put in circulation by the maker or
makers of such protested note notes, pursua Mt
ID the provisions of this act, and to adopt snch
measures for the payment of such notes will,
o in hls opinion. most tffcctually prevent loss to
1 the holder Of such not s; and Ia this end the.
Auditor of State may, after the expiration of Sc
= twenty days. and after giving thirty days notice
by publication in newspaper rim ted ut The scat
t OF gov rnment of This State AMI IN daily news
. paper printed in the city of New York, proceed
to sell. the Merchants Exchange, in the city oil
4 New York, at rubsc auction, The secur.ti-s So
pledged and out "f the prcc eis of such sale shalt
Fay pro rata and cane all bills an notes which
= have u,eD issued and put ii circulation by such
5 bank under the provisi IIs OF this nc : but moth
ing in this act contained shall be considered as
implying any pledge the part of this State for
: the payment of such bills or notes beyond thu
proper application of the securities pledged to the
d Auditor of State for their redtmj ton
e SEC. Is such bank or banking citation shall
x be liable t. pay the holier OF every bill not.
Il Put in circulation money the payment of WhcI.
. shall have be-n- demanded and refused. at the
IA banking house or usul place of business Of such
J. AZ socIauon or bankers, damage fur nun-imymenl
n thereof, frm the time of such refusal until tn
payment al such evidence of debt, and damages
e tn reou.
y Sac. 10 1t shall not be lawful fer the Auditor
of State or his deputy, 10 count rs'gn hi L q
= notes for any association bank to aInS1ni
IN the aggr- gate exceeding the securities tI.iI
r value, before Ir 'Ved III this deposited
Ii with him III trust 10y such association or bank r
:, or dspos. of such secur les in any man.
:: ne: other than provided for in this and any
e Auditor of State, deputy, who shall violate the
provisions OF this section. shall, upon conviction
n be deemed guilty Of misdemeanor, and be pun
Is fished by fine not less than five thousand dol
Il lars, be imprisoned less than fl We years in
E the States prison, or by botlI such fine and i'm
)r pIisonnient.
TO SEC. II. 1t shall be lawful for any person or
d association OF persons organized under the pro.
= visions OF this act by his their articles of
Ia citation, to provide For increase OF their cata
sock and "f the numbers of the as~oeiation from
: time to tim. IA they may think proper.
-r SIC Is. Contracts made hy-nny bank or bank
t. ing asseciat esta'l ished 10y t,e PROVISIONS
TT this act aud all notis hills issur6 and put in
al circulation money. shall b. sigred by the pres
n idrIt ah cashier thereof. and all suits. ac'ion.
IA and proceeding. br4 ught pr, -cucd by and il
* behalf OF such bank or banking ciat"n shall
be- drought ana rus. cu:el in the corporate Fam,
r mentioned in tiie certificate made and fled a:
Y, hereiubefBre req uired.
IS SIC 10. 1t shall be lawful sor such bank OF
O. banking association to purchase, hold and con
in vey teal estate, for the following purposes: FRS
Is Such as shall lie nece ssary- for its immediate
Id accommodation in the convenient transactions o
TX its business. Second-Such "a shall he mortgag
Id ed TO 1t III good faith by way Of security for loans
ty made by or money due to. such bank. Third
Such as shall be conveyed to it in satisfnc' ion
rs debts previously contracted in the course of it
r dealings. Fourth-Such as it shall acquire b,
rs sale execution decree of any in its la
e vor Tho said bank shall not purchase. hold u
p convey Real estate III any other or for an,
IS other purpose Whatever. and all conveyances o
at such real estate shall be made the corporations
IN and which real estate the president and eashie
may SELL assign, grant or convey, under the di
ls, rvetion Of the association, free from any claim
f. thereon in favor of or against the shareholder
ed or any person claiming under them.
u SEC. 20. The president and cashier of ever,
p, bank formed pursuant TO the provisions of tli
lk act shall at all times, keen a true aud e0rree
list of the of all the Shareholders of suel
be bank. with the amount of stock held by each
n, the times of transfer and to whom transferred
-al and shall file copy Of such list in the office
ito the register Of deeds of the county wherein sue
be- bank may be located and also in the Office of tn
or Auditor of Stat, on the FIRST Monday in Januar
OF and July in each year. and the st0c AhOld-rs i
od each bank shall be individually liable in amsua
Err equal to double the amount of stock owned b.
in them, Tor all the debts of sIch bank. and sue
ty individual liability shall continue for Yea,
ID alter any transfer sale Of stock by any stock
of holder or stockholders 5as. @EtsE
of 81 nf h.