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

ing and selling gold and silver bullion, foreign
coin and foreign and inland bills Of exchange.
by loaning money and personal securities, ana
BY exercising such incidental powers Is may oe
necessary TO carry on such business; may cnocse
one Of their number as president ana aPPo,.'
q cashier and such other officers rs their ousi
ness NAV require, and to remove such president,
cashier. officers, and agents at pleasure, and to
appoiut Others in their places; but no such asso-
citation or banker shall commence the business
of banking under this act, until such associa-
ton or banker shall have deposited with the
Auditor Of State the securities required by this
act.
SIC. Is. The shares in such bank shall be
deemed personal property. and shall be trans
fsrsble on the books of the bank in such man
ner - may be agreed upon in the article organ
izing such bank, and every person becoming
stockhoIder therein, shall in proportion to his
interest, succeed to all the rights and be subject
70 all the liabilities of prior shareholder or share
holders; no change shall be made in the arti-
cles organizing such Q bank, whereby the
rights, remedies or securities of existing credi-
tors shall be in any manner impaired, aud any
association constructing such bank shall not be
dissolved BY the death or insanity OF any one Of
the shareholders therein.
- .ne " W md zoo.
$3.50 $500 ID, =, ~. r. horos fier
IcS SS go: ~. n.,.I Nm. IF
,. n :. ILL nS.,s MS sr.h note or notes
as.ness' :. ~. p..L,a e., :. .as,sa 20 ,.decw
.,o " -. :. .otas n H. isvs,I money of the
Ine. ns S,.,as r. hnIdsrs of sncI note or
~" - .,,o,, San.na 10, ..r.e the
nosss .. !. . stsa e.. non,..n,sn, Nv M.
same ~ W py -. .; mn IN. ~ my.
puonT auuef n.s S Uo IN o o no.os .h.I, not
he ,;.h,o q. m arnan.s of ~ nrotes.;no the
$50 ,nIass nv s,,nh dar,.nd nd rerns,i On IN
.odoa,o .hs 49, s =. ~ The, shoii ref,se IN
- -. ..S -. ~ go, ,,,.-oon and
s,oh -. 81 49,. a. h n oil Goo. he
49,, "A - ~. rn,,,i.. n,,,ost ,he,aof
"a s,,oh 49," III, -, rso.a.,ina The same
sar,h",;,1, a.;, ofpuch the An
H.. ~ a.",o thn no,,.r n.Lino sncb protest
.h'm y. IN o . ~ n.o,es. Tho nnmher
era,. .e' ~ VIZ n ma - ,as,,,aS md
NOES on when saio pay,hg was d ,e ia.,e.. and
u uesT'iy , Mem .ue. -. uua ssa..a .raonnt If
sn",' .,.o 49,. .I J;.o e e,s,s =, r.cs;v;no
sai9 nu.es' .hs Auusor VI Se 80, ,ono,heS,
s.u nnns ~ n.s on,Se SUI eaps.;J sh,.I 10th.
VIII saen no.e VI 49, ~ ,ha msIe. or ma
WIN se uoue., IN ",s, " ~ H. $50. I'D
if they shall omit to do 80 for twenty days af-
ter such notice, the Auditor shall Immediately
therupon, unless he shall be satisfied there is q
pood and legal defense against the payment of
such note or notes, give notice that all the cir
culating notes of such person or association Of
persons anu ;n So u dd "r ~, - ,he ,,us,
VII oe ~. -. .h;oh No.
.anus ~ n,s hauus ~. smHi 10 sam. n
wee sn1h NC s"enoy puo"ous 60. -.
the business of such bank is established, and in
some newspaper printed at the seat of govern
mept of this State: and the Auditor of State
shall be REQUIRED to apply the said trust funds
belonging TO the maker or makers of such pro-
tested note or notes, to the payment of all cir
culating notes, whether protested or not, put in
circulation by the maker or makers of such pro-
tested note or notes, pursuant to the provisions
of this act, and to adopt such measures for the
PAYMENT of such notes as will, in his opinion,
most effectually prevent loss to the holder of
such notes; and, to this end, the Auditor of
State NAV, after the expiration of said twenty
days, and after giving thirty days notice by pub
lieation in a newspaper printed at the seat of
government of this State and in . daily news
paper printed in the city of New York, proceed
TO sell, at the Merchants Exchange, in the city
of New York, at public auction. the securities
so pledged, and, out of the proceeds of such
sale shall pay pro rata and cancel all bills and
notes which have been issued and put in circu-
lation by such bank under the provisions of this
act; but nothing in this act contained shall be
considered as implying any pledge on the part
of this State, for the payment Of such bills or
notes beyond the proper application of the Sc
curites pledged to the Auditor Of state Tor their
redemption.
SEC. 10. Such bank or banking association
shall be liable to pay the holder Of every bill or