Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1861-09-06

tai of least SIS 900 actually paid n viii ch shall
remain in such bank banking association capi-
tel and employed in legitimate banking the place
where the bank is located and it is hereby de-
clared that the bonds deposited with the bank comp
troller shall not be considered any evidence of tn
existence OF capital in any such bank banking
sociation, of the & extent of such capi-
tai and it is hereby made the duty of the comprel
Ier before issuing any more circulating notes to
such bank or banking association now organized, or
that shall be hereafter organized exchang
for mutilated notes. to satisfy himself by an exam-
nation under oath of officer stockholder of such
bank or banking association that it has fully complied
with the provisions of this section, and of the
preceding section of this act and for the purposes
of such examination the comptroller, in his ab-
sence the deputy comptroller, is hereby authorized
to administer oaths Pr0rided that nothing in this
act shall be SO construed as to permit any
bank to issue circulating notes to any greater
than its nominal capital.
Section Is. From and after the first day Of Decem-
Der next 1t shall not be lawful for any bank bank
ing association, banker broker, company corpora
ton, to circulate attempt circulate, to pay
out money, any bill. note or other evidence of
debt, issued or purportng to have been issued by
any bank, banking association, company corporation
or individual located residing this State
less said bill, note or evidence of debt shall, for
the last six months preceding such circulating or
paying out, haye bsen redaemable in the city of New
York or Boston in current money of the United
States at rate Of discount not exceeding three-
ourhs of one per cent and the decision of the bank
comptroller as to the rate OF such discount shall be
final and conclusive. Every bank banking associ-
alton, banker broker, corporation company, of
tending against the provisions OF this section shall
forfeit for each and every ofenso the of hun
dred dollars to be recovered with costs of suit in the
and for the OF any person VINO shall sue for
the same and prosecute such suit to judgment in
any court having cognizance thereof.
Section 10. Each and every person owning or hold
ing stock in any bank banking association, who
shall SELL transfer assign his any portion
thereof, in any such bank or banking association
shall be held, and remain for the term of six months
from and after uch sale, transfer assignment as
aforesad, personally liable to the amount stock so
as aforesaid sold transferred assigned by him for
the payment of all the debts liabilities of such
Dank or banking ASSOCIATION, existing at the
such SALE transfer assignment
Section II. This act shall take effect and be in
force from and after the first day of December 1861
Section Is. All acts parts of acts conflicting
with or in any way contravening the provisions of
this act, are hereby repealed.
Section 10. At the general election to be held on
the Tuesday next succeeding the first Monday in No
vember in the year ISUl at all che usual places of
holding Plectons IN tins state, for the election of all
officers required by law then to be elected the cues
ton whether this act shall become law and go into
enect or IN any manner be in force, shall be submit
ted to the people, and if the shall be approved
by majority of all the votes cast the subject it
shall into effect otherwise, it shall not 90 into
effect nor be in force.
Section 20. The votes cast OH the subject spccif-
ed in the last preceding section shall be by separate
ballot, and shall have written or printed partly
written and partly printed, each of them the
words: ''For amendments to the Banking law" or
against Amendments to the Banking Law which
words snail indicate the vote for against the ap
proval OF this act and the ballots cast shall be
canyassed and returned in the manner as the
votes cast for State Officers are required by law to be
canvassed, and the Secretary Of State shall nmedi-
ately, the completion of said canvass publish a
of the result thereof the official State
paper, and shall communicate the to the next
legislature at the commencement of the session. and
he shall also deliver to the State Treasurer certif
ed copy thereof with statement of the result OF the
canvass upon the subject nfe diatcly after the
pletjon of the canvass.
Chapter PAP, approved April IS, 1861 Chapter l,
Extra Session, approved May 25 1851.
said election to be conducted, the votes canvassed
and returns made in accordance with the provisions
of Chapter 7 of the Revised Statutes of 1858.
Dated SherlE'S Office, Jefferson. Aug. 6. 1861
EEBER SMITH,
Sheriff, JEFF. Co., Wis.