White Cloud Kansas chief. [volume] (White Cloud, Kan.) 1857-1872, 1861-10-24

amount Of securities by them deposited with
the Auditor of State; but no bank shall contin-
ne to transact any business 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 thou
sand dollars, nor in any case after two years
from the date Of said notice of intention to re-
linquish and close up their banking business, as
Aforesaid; and whenever the retiring bank or
bankers shall desire to withdraw all the securi-
ties heretofore lodged with the Auditor Of State,
they may do 50, by producing and fling with
the Auditor of State certificate of deposit 70
bis credit, in such bank as he shall approve OF,
an equal amount with the circulating notes of
such bank or banks then remaining unredeem-
ed, and tie Auditor of State, on being satisfied
Of such deposits, and of the sufficiency thereof,
shall give mp all the remaining securities there
tofore deposited by such bank or bankers for
the redemption Of such circulating notes issued.
SEC. "a. Such banking association or banker,
after having complied with the provisions Of the
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 paper printed at the seat of government of
this State, that all circulating notes issued BY
such banking association or banker Unjust be
presented at the Auditor of States office, with
in 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 asso-
citation or banker; and, on receiving satisfacto
~ proof of the giving Of such notice for the
time Aforesaid, the Auditor of State shall sur
render to the order of such banking association
or banker, any securities which he may hold
for the payment of any uuredeemed notes of
the said banking association or banker.
wishing TO withdraw any of the securities BY
them deposited with the Auditor of State, may
do so by depositing an equal amount of the cir
culating 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 securi-
ties thus withdrawn by deposits of said circula-
ting notes, shall not reduce the amount of stock
securities remaining in the hands of the Audit
or Of State, to less than twenty five thousand
dollars.
SEC. &c. The securities to be deposited with
the Auditor of State, in trust, by any associa-
ly for the redemption OF the bills or notes of
such bank, put in circulation as money, until
the same are paid and returned to the Auditor
Of State, as provided in this act; but the Aud
itor of State may assign said securities to said
association or banker transferring the same,
upon receiving therefor equivalent securities,
or an equivalent amount in circulating notes
issued by such bank, as provided in section
twenty Eve of this act
. SEC. 81. All circulating notes of banks or
banking associations, returned to the Auditor
Of State, shall be destroyed BY him in presence
of the Governor and an authorized officer ofthe
hapk affae ho oho1l he IL - Al
same, which shall specify the number of each
note, its date, and BY whom it was countersign-
ed in the books to be kept BY himself for regis
tering circulating notes.
SEC. %. 1t shall be the duty of the Auditor
Of State to receive mutilated circulating notes
issued by HIM. and after making a record of
them, their denomination and amount, to deliy-
er, in lieu thereof circulating notes to the same
amount.
Sec. 90. The bills or notes of any bank or
banking association shall be, at all times, re-
ceived by the same in payment of all debts
[due] to such bank or banking association.
SEC. 80. If the declared capital of any bank
ing association shallbe reduced for any purpose
while the debts of the association re-
main unsatisfed, no dividend or profits in the
shares of the capital stock of the association
shall thereafter be made, until the deficit ofthe
capital shall be made good, either by subscrip
ton Of the shareholders, or out of the subse-
quent accruing profits of the association: and.
il 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 application Of any person in
interest, to make the necessary orders and de- |
crees for the closing of the affairs of the associ
alton, and distribute its property and effects |
among the creditors and shareholders.
SFC ri. The Officers 0r soopto ofo nv I'll. /
ng association or banker, who shall pay out, to |
Dc put in circulation as money in this State, |
my bill, note, certificate of deposit, or other |
PAPER having the sinlitude of a bank note, |
moving the same to have been issued other.
wise than by the authority of this or any other
State of the United States or of the British
Possessions, shall for each offense, upon couyic-
ion thereof, be adjudged guilty of misdemeanor,
md shall be fined by not less than one hundred |
dollars, or BY not less than three nor more than
welve months imprisonment, or both by fine
md imprisonment.
SEC. 80 Such bank or banking association
nay demand, and receive, for loans on real and
'ersonal security, or for notes, bills or other
vidences of debts discounted, such rates of in
crest as may be agreed upon by the parties.
ubject, however, to general laws regulating
nd fixing the rate of interest-and it shall be
awful to receive the interest in advance, ac.
ording to the ordinary usage of banking insti-
utions-and in general do all things and have
II the privileges incident to banking associa.
ions or corporations.
Sec. 80. Every bank or banking association
hall, on the first Monday of January, April, Ju-
and October, in every year, after having
the business of banking as proyi
ed in this act, make and transmit to the Audi.
DR. of State report, which shall be made on
ath of the president and cashier and ab.II a., |