Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1861-09-25

as he may deem advisabe publish list Of Such agents
10 daily newspaper published ia the city OF Madi
son and in daily newspaper Published in the city OF
Milwaukee, the expense whereof shall be equally de
vided among the several banks banking associations
published, and be paid by them 10 the comptroller
demand under penalty OF forfeiture oil one hundred
dollars, to lie collected aud applied provided ia re-
spect To the forfeiture named in secn -, chapter a.
Of the Revised Statutes.
Section Z. Every bank banking association here
later organized shall before receiving any ircuang
notes from the bank comptroller, appoint agent ioI
the purposes Of this act; and such appointment shall
be Immediately published in the manner aforesaid at
the expense bank banking associations to be
collected in the manner above provided.
Section s. Appointments OF agents made IN pursu-
ance of this act be revoked anu apponnnpi
Of agents made from time to time, bv delivering such
revocation and appointment TO the bank coDpt csei,
who shall the 10 DO published as bfote pro-
vided.
Section O. 1t shall be lawful for any number or banks
banking associations, authorized BY this act 70 ap-
point an agent TO associate together for ra.sie joint
fund.- to be placed ii tile hands Of their agent
for the 9emption Of their circulating notes, in the
city Of Milwaukee Madison, and also the circulating
Of other banks in such manner, and under such
regulations may be agreed upon, and to employ such
agents and clerks as they may deem necessary 10 carry
on The business Of such common agency; but nothing
In this section contained shall authorize the redemp-
ton or purchase by such agency of any circulating
at greater discount than herein provided for
relieve such banks from any duty or reliability res
quired imposed BY this act
Section TO- Every such bank and banking associa-
ton in this Stata except such banks OF banNing assoc
cities Of Milwaukee and Madison, shall redeem and pay
on demand in the lawful money of the I'm ted States,
all circulating notes issued BY such banks or bankog
associations presented for redemption at the Office Of
the agent ef such bank banking association daring
the usual hours of business Of bankers between the
hou of ten and three o'clock, at rate OF Disc mi
not exceeding three fourIhs of one per cent.
Section IL. Every bank or banking association,
whose agent shall neglect refuse to redeemis notes
on demand, az aforesaid shall, proof being made
to the bank comptroller of such elect refusal By
the affidavit of the person who pTeented said notes Tor
redemption paymen', and on ceposiung IN bis o.
fee The presented, be ubject TO the same PEN
aties aud be proceeded against in the manner rs
Is now provided By law for whore the circulating
notes of any bank banking association protested
for nom pay ment unless the comptroller shall be sat
ised that there good and legal defence against the
payment of such notes
Section IL Every bank and banking association
shall redeem its circulating notes provided by
law but in case of neglect refusal to redeem its
notes on presentation at its counter. and OF protest
therefor such bank banking association II not To-
lated within the city of Milwaukee the city OF Mad
ison shall be liable to the holder Of such notes Tor
damages Prouided 1t shall within fifteen days after
receiving notice from the comptroller to pay the same,
redeem said notes in the lawful money OF the United
States with interest at the rate Of fifteen per ecpt per
annum, ProUided That the the officer or officers OF
such bank or banking ASSOCIATION SO neg lechg on re-
fusing redeem its notes on demaDd, may endorse
upon the bills packages of bills presented ac-
acknowledgement of such presentation and refusal, aud
waving protest upon the same; and such endorsement
sha! H. held as evidence Of the statement therein
m ide.
Section 49, No bank or banking assc citation shat
hereafter receive upon the deposit o. bonds circulating
notes amount exceeding three times its bonn nd
cash capital actually paid in and the bank comptroller
hereby authorized and required 10 ascertain wiat
the actual cash capital of any bank or banking asoca
ton applying for circulation, except IN exchange lot
mutafed bills may be- and for this purpose he - au-
thorized to examine any person on OATH ana 70 compel
under OATH from any obcer or stoekhoiuer OF
any bank banking association SO applying, OF any
Section Ia No bank or banking association shall
hereafter be organized IN this State shall any mcre
pofac
ISOLATION in this State, unless said bank or bank ng
association shall nave bona fde cash capital OF at
least fifteen thousand dollars actually paid IN, winch
shall remain in such bank banking association Us
capital, and employed in legitimate banking at the
place whern the bank is located; and II is hereby de-
clared that the bonds deposited Win the Duk coup
troller shall be considered any evidence q Inc
tence of capital IN any such bank or banklng asso
CATION nor Of the amount and extent Of such capitals
and II Il hereby made the duty of the comptroller, be-
fore issuing any circulating notes TO any such
bank banking association now organized, or ina
shall be hereafter organizd except IN exchange or
mutated notes. to satisfy himself by an examination
uuder oath of officer stakeholder OF sucn BANK
on banking ASSOCIATION that it has fully compiled with
the provisions Of This section, ant OF the next pre-
ce6ng section of this act and for the purpose q suc
examination the comptroller, or 10 bis absence lpe
denuty comDtsoer, is hereby auh0Izad 10 admlnlsei
oaths Provided That nothing 10 this act contained
shall be so construed to permit any bank 70 issae
circulating notes to any greater amount taaa -
section IS. From and AFTER the frst dav Of Deem
bel next 1t shall not be lawful for any bank or oanns
association, banker, broker, company or cofpofa.on.
to circulate attempt TO circula Q, or 10 pay out az
money any bill, note other evidence oil deot, IS
sued or purporiDg TO have been issued by any ntn3
banking association, company, corporation O. lnalya
BILL or note prevalence of debt shall, Tor ne iass so
months preceding such circulating OF paving ou nas
been redeemable ia the city Of New ork o. Boston II
cut.ent MONEY o the United States al rate OF ais
count exceeding ree-fourlhs OF one per cent an
the decision of the bank comptroller as 70 me iae =
such dis cunt shall 5e fnal and conclusive. Every
bank or banking association banker or broEe colpo
ration or company. offending against the provisions @
this section shall forfeit Tor each and every oufse t
ssnn, Of INC hundred dollars to be recovered with cos
Of suit in the name aud or tie use o. any person Whe
shall sue for the and pIesecd,e snch sat- "
Judgment ia any court having cognizance thereon.
Section 10 Each and every person owning q no ,
ing stock in bank banking ASSOCIATION. WHO sii
SELL transfer assign his stock or any portion t1e
Of in any such bank banking association, shah DC
held aud remain for the term Of six months from ana
after such sale, transfer assignment as aiuresau
personally liable to the amount Of statk SO as Aforesaid
solG transferred assigned by him for tue payhehs
OF all the debts and liabilities of such bank or bSihg
associon existing at the time of euch SALE transfer OF
section IL This act shall take effect and be in force
from and after the first day of December, eighteel
Ssrlion Is Al aos or parts os acts conflicting With
or IN any way conttayenDg the provisions 81 inns ac
are hereby repealed ~
section 49, AT the general election 10 be held on the
Tuesday next succeeding the first Monday in Novemhe
in the year 1861 at all the usual places OF holding
elections in this State, fol the election OF Ah
or This act shall b. law and go into eliect q =
anv be in force, shall be submitted 80 te peP
and If the shall DC approved by naJory y q.
the votes cast the subject II shall 90 nto INTO eeo
otherwise it shall not 90 into elect nor be II icfcs,
Section. 20. The votes cast on the suhec sp tcih'l
ID the last preceding section shall be BY separate pal
lot and shall have written printed. or parity vii
en- and partly printed. each OF thehN. the woi"s
For Amendments to the Banking Law {. or @ainst
Amendments to the Banking Laws; which words
shall Indicate the for against the approval OF
This act and the ballots cast shall be canyassed and
Ied in the manner as the votes cast Tor State
officers are required by law to be canvassed and the
SECRETARY &c State shall Immediately, the compile
ton Of said canvas publish statement Of The result
thereof in the official state paper and shall conmnnl-
cate the sane to the next legislature at the commence
aent Of Tho session. and be shall also deliver TO the
State Treasurer certified copy thereof with stae-
nen Of To result Of the canvas upon the subject i'm
lnediatey after the completion Of the canvass
ChapteF 242 approved April b. 1861. Chapter y
Extra Session, approved May %, 1861.
said election IS be condncted the votes elnvsssed
ana returns made in accordance with the proyisins Of
Charter + of the Revissq States Of 1858
Given under my hand and the vat Seal =:
RI al the State, at the Capital il Madison. ON t0e
First day Of August A. y. 1851.
LOUIS 2. HAkYEY, See'y e Stale
STATE OF WISCONSIN, as.
COUNTY or GRANT,
/, Jonathan z. Moore, SheIiT Of sail County. do
hereby certify that the above and foregoing Il true
copy Of the notice for General Election, served -
me bv the Secretary Of said STATE, ana file u
INV Office. Dated, Sheris Oice, Lancaster this 10th
day of September, A. y 1861.
JONATHAN p. MOORE. Sheriff,
Is tide Grant County, Wisconsin
TT0pGRG NPR XRIl