White Cloud Kansas chief. [volume] (White Cloud, Kan.) 1857-1872, 1861-10-31

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, a.
aforesaid; AID whenever the retiring bank or
bankers shall desire TO withdraw al! 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 10
his 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 the Auditor of State, on being satisfied
Of such deposits, and of the suficiency thereof,
shall give up 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
in paper printed at the seat of government of
this State, that all circulating notes issued by
such banking association or banker must be
presentedl 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 unrcdeemed notes Of
the said banking association or banker.
SEC. IS. Any banking association or banker
wishing to withdraw any of the securities by
them deposited with the Auditor o.. State, may
do 50 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ties thus withdrawn BY deposits of said circula-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-f five thousand
dollars.
SEC. &c. The securities to be deposited with
the Auditor of State, in trust, by any associa-
ton or banker, shall be held by him exclusive
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-proyided in section
twenty five 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
L. r.. L. .l~n bsv - oc q h<,
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. g. 1t shall be the duty of the Auditor
of State to receive mutilated circulating notes
issued by HIM. and after. making record Of
them, their denomination and amount, to deliv-
err in lieu thereof, circulating notes to the same
amount.
Sec. %. 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
[duel to such bank or banking association.
SEC. 30. II the declared capital of any bank
ing association shallbe reduced for any purpose
whatever, while the debts of the associationre-
main unsatisfed, no dividend or profits in the
shares of the capital stock of the association
shall thereafter be made, until the deficit oft
capital shall be made good, either by subscrip-
ton of the shareholders, or out of the subse-
quent accruing profits 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 application Of any person in
interest, to make the necessary orders and de-
crees for the closing of the affairs of the assoc
alton, and distribute its property and effects
among the creditors and shareholders.
CrC al The 0ffirera aoonf, ofo ov h.nI
ing association or banker, who shall pay cut, to
be put in circulation as money in this State,
any bill, note, certificate of deposit, or other
paper having the simlitude of bank note,
knowing 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 convic-
ton thereof, be adjudged guilty of misdemeanor,
and shall be fined by not less than one hundred
dollars, or BY not less than three nor more than
twelve months imprisonment, or both by fine
and imprisonment.
SEC. 30. Such bank or banking association
may demand, and receive, for loans on real and
personal security, or for notes, bills or other
evidences Of debts discounted, such rates of in
terest as may be agreed upon by the parties,
subject, however, to general laws regulating
and fixing the rate OF interest-and it shall be
lawful to receive the interest in advance. &C.
cording to the ordinary usage of banking insti.
tutions-and in general do all things and have
all the privilege. incident to banking associa-
tons or corporations.
SEC &c. Every bank or banking association
shall, on the first Monday of January, April, Ju-
" and October, in every year, after having
the business of banking as provi. |
ded in this act, make and transmit to the Audi |
tor of State a report, which shall be made on |
oath Of the president and cashier, and shall CON
tain q true statement Of the following items, |
on the mornings of the first Monday Of Janua. |
~, 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 |
md promissory notes; bills of solvent banks;
bills ofsuspended banks; loss; expense account;
capital; circulation; amount due to depositors
IN demand; amount due, not included under
either of the above heads. And it shall be the |
luty of the Auditor of State to collate and pub
ish said report once, in some newspaper printed
It the seat of government and in the County in
which said bank or banks are located, and the
expense thereof shall be betrayed BY the banks;
md If any bank shall fail to furnish to the Au.
litor its quarterly report in time for such pub.
ication, or shall fail to pay the expense incur.
ed in the publication Of ito report, when they
hall be demanded BY him, it shall forfeit and
,ay the Auditor of State the sum of one hun
lred dollars TO be applied BY him to the expense
4 publishing the quarterly reports; and the Au.
litor Of State is authorized to collect said for.