Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1861-08-23

tai of at least SIS, 900 actually paid in which shall
remain in such bank banking association as capi
tai. and employed in legitimate banking the place
where the bank is located aud it is hereby de-
clared that the bonds deposited with the bank comp
troler shall not be considered any evden of the
existence OF capital IN any such bank banking as
sociatlon nor OF the amount & extent of such cap-
tai and it is hereby made the duty of the comptre
ler before issuing any more circulating any
such bank or banking association organized, or
that shall be hereafter organized, except exchange
for mutilated notes, satisfy himself by an exam
nation under oath of an officer stakeholder such
bank or banking association that it hasfully complied
with the provisions of this section and of the next
preceding section of this act and for the purposes
of such examination the comptroller, or in his alb
sence the deputy comptroller, is hereby authorized
TO administer oaths PT0rided, that nothing in this
act contained shall be construed as to permit an
bank to issue circulating notes to any greater amount
than its nominal capital.
Section Is. From and after the first day of Decem-
Der next 1t shall not be lawful for bank or bank
ing association, banker broker, company or corpora
tion, to circulate attempt to circulate or to pay
out money, any bill, note or other evidence of
debt, issued or purporting to have been issued by
any bank. banking association companv carpOration
or individual located or residing of this State
less said bill, or note evidence of debt shall for
the last six months preceding such circulating or
paying out, have been rede enable in the city of New
York Boston in current money of the United
States, at a rate of discount exceeding three
fourths of per cent ;and the decision of the hank
comptroller as to the rate of such discount shall be
final and conclusive. Every bank or banking associ-
alton, banker or broker, corporation or company, Of
Tending against the provisions OF this section shall
forfeit Tor each and ofenSe the of hun
drcd dollars to be recovered with costs of suit in the
and for the of any person who shall for
the same and prosecute such suit to Judgment in
any court having cogniZance thereof.
Section 16. Each and every person owning or hold
ing stock in any bank banking association, who
shall sell, transfer or assign his stock any portion
thereof, in any such bank or banking association.
shall be held, and remain for the of six months
from and after such sale, transfer assignment,
aforesaid personally liable to the of stock so
as aforesaid Sold transferred assigned by him for
the payment of all the debts and liabilities of such
bank or banking association existing at the time of
such sale, transfer assignment.
Section II. This act shall take effect and be in
force from and after the first day of December 1851
Section is. All acts or parts of acts conflicting
with, or in any way contrayenng the provisions of
this act, are hereby repealed.
the Tuesday next succeeding the first Monday No
vember in the year 1861 at all the usual places of
holding elections in this State for the election all
officers required by law then be elected the ques-
ton whether this act shall become law and 90 into
effect, or in any manner be in force shall be submit
ted to the people and the shall be approved
by majority of all the votes cast the subject it
shall go into effect otherwise, it shall go into
effect be in force.
Section 90 The votes cast on the subject spccif-
ed in the last preceding section shall be by separate
ballot, and shall have written printed or partly
written and partly printed each of them the
words: ''For am endm ents to the Banking law
against Amendments to the Banking Law which
words shall indicate the for or against the ap-
proyal of this act; ar the ballots cast shall be
canVassed and returned in the same manner the
votes cast for State Officers required by law to be
canyaSSed and the Secretary of State shall mmedi-
ately on the completion of said canvass publish
statement of the result thereof in the official State
paper. and shall comm uaicate the to the
legislature at the commencement of the session and
he shall also deliver to the State Treasurer certiG-
ed copy thereof with of the result of the
upon the subject Immediately after the com
pletion of the canvass.
Chapter 242, approved April IS, 1861. Chapter l,
Extra Session, approved May 25, 1861.
Said election to be conducted the votes canvassed
and returns made in accordance with the provisions
of Chapter of the Revised Statutes of 1858.
Dated Shcritf's Office, Jefferson, Aug.S s, 1861,
HEBER SMITH.
Sheriff. jeff Co., Wis.