Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1861-09-06
General Election Notice.
FOR JEFFERSON COUNTY,


State Prison Commissioner in the place of Hans G
Heg.
Whose several terms of Office will expire on the 81
day OF December, 1861.
Member of Assembly for the Assembly Distrets
comprising
First. The towns of Ixonia and Watertovn and tho
first, second third, fourth and seventh of the
city of Watertown.
Second. The towns of Milford, Waterloo, Lake Mills,
Tdiyd. The towns of Hebron, Jefferson, Sumner
Koshkonong and Cold Spring.
Fourth. The towns of Pennington, Concord, Sulli-
van and Palmyra, in the said county Of Jefferson
One County Superintendent of Schools.
One Supervisor in each Assembly District in said
county, and Supervisor for the county at large
At the same election the question will be taken upon
the approval by the people of the amendments pro-
posed to the General Ranking Law, by chapter 242 of
the General Laws of 1861, amended by chapter of
the General Laws of the extra Session Of 1851
lows:
CHAPTER 242
As amended by Chapter l. Extra Session
AN ACT to amend the General Banking Law and tho
several acts amendatory thereof.
The pedple Of the State Of Wisconsin represented in
SENATE ana Assembly, do enact as to1ou0s:
Section l. Section o. of chapter H. of the Revised
Statutes, with the thereunto belonging amendment
ksee chapter 9S of the General 1861 is here
by amended as follows by striking out the following
words Said stocks to be valued a rate to be es-
tmated and governed by the average rate at which
said stocks have been sold in the city of New York
within the next six mouths preceding the time when
such stocks may be left deposit with the Comptrol
IN
sertng after the words 'inot exceeding. the words
sin value" By striking out the following words:
'but such public stocks shall, in all cases. be- or be
made to be, equal TO stock producing six per
per aunum and it shall not be lawful for ire Kank
CU1ap aptToter take stock rate above its mr.
value, nor above it. current market value the city
of New York, at the time of deposit by such person
association of persons, aud by inserting in lieu
thereof he following and it shall be lawful for the
Bank Comptroller to issue for public stocks which
have been ranging at above par during the six
months and up to the time of depo sit in the New York
rEofa DIR agri t;,lSy Oto
stocks but the Comp roller shall not issue for pubIic
stocks ranging below par in aid more circua
ton than 30 per cent OF the current market value of
sad STOCKS at the time OF deposit, than 90
cent. of the market value during the LAST
six months ard fr such stocks during the last six
months nave been at and above as we'll below par
the Comptroller shall not issue than 80 per cent
of the value during ne last six months nor
in any event more than 80 per of its market yaI
OF the day of deposit than ninety per cent
OF the par value of such stocks " the said see
ton shall henceforth read as follows: ssWheneyer
hereafter, any person association of persons form
for the purpose of banking under the provisions, of M
chapter shall duly assign and transfer in 70 the
issued to be issued by the United state or
stocks, which full interest is annually paid such
person association of persons shall be entitled To
receive from the Bank Comptroller amount of such
circulating notes of different denominations
and countersigned, and not exceeding in value the
amount OF pubilc stocks assigned and transferred as
aforesaid and it shall be lawful for the Bank Comm
troer to issue for public stocks which have been
ranging at above par during the last six months
and up to the time of deposit in the New York market
circulating notes the value said stocks ht
the Comptroller shall not issue for pu bile stocksrn
ing below par in said market, circulation than
90 per cent. of the market value said stoc
at the time of deposit, than so per cent of
the average market value during the last months
and for such stocks during the last months have
been at and above well below par the ComntroI-
Ter shall not issue more than 80 per cent of the
age Yaue during the last SIX months in any ent
more than 90 per ofits mark value on the day
OF deposit, than 90 per of the par vae
OF such stocks; PTortded, that if in the opinion of
the Bank Comptroller, together with the Governor |
and the Secretary OF State any stocks offered shall be
deemed insecure they shall not be received as such
securities under the provisions of this act ind yo
c5ded further that from and after the first day of De-
cember. 1861, the Bank COmptroIler shall not raoairo
as security for circulating Bank Notes. any other pub-
lie stocks than those issued by tie State
and the United States.
Section 2. Any public stocks described in the nra
cealng section, and issued at rate interest less
than five per cent per annum to be receivable by the
Bank Comptroller shall be made be equal to stocks
producing five per cent. per annum.
Section 8. Section 40 of chapter II of the Revised |
Statutes, is hereby amended by inserting between the
words ''located and ''to, in the 10Th line of said |
section, the words cor to the judge a: Chambers
Section 4. Every bank and banking association now
organized in this State, and all banks and banking
ociations that shall be organized before the first day
Of December, 1861, except such banks and banking |
hereafter be located in the
cities of Milwaukee and Madison, shall on or before
said first day of December next appoint an agent who
shall keep an office in the city of Milwaukee, the
city of Madison, for the redemption of all circulating
notes issued by such bank banking association
which shall be presented to such agent payment
redemption.
Section s. The appointment of such agent shall be |
made in writing, and such written appointment shall
be delivered to the Bank Comptroller or before said
first day of December next, who shall file the same in
hs office. If any bank banking association shall |
neglect refuse to appoint such agent within time
such agent for such bank or banking association
Section 6. The Bank Comptroller shall. immediate |
ly after said first day of December next during such
time he may deem advisable, publish list of such
agents in one daily newspaper published in the city
Madison, and in daily newspaper published in the
city of Milwaukee, the expense whereof shall be equal
ly divided among the several banks banking oc
ations published and be paid by them to the Comp
troer on demand, under penalty of forfeiture of one
hundred dollars, to be collected and applied as pro-
yded in respect to the forfeiture named in section 10
chapter Il, of the Revised Statutes.
section7, Every bank or banking association here |
after organized shall before receiving circulating
netes from the Bank Comptroller appoint an agent for
the purposes of this act and such appointment shall
be medately published in the manner aforesaid at
the expense of such bank banking association to be
collected in the manner above provided.
Section 8. Appointments of agents made in pursu-
ance of this act may be revoked and new appoint
ments of agents made from time time by delivering
such revocation and appointment to the Bank Comp
troller, who shall cause the same to be published
before provided.
Section 9. 1t shall be lawful for any number of
banks banking associations authorized by this act
to appoint agent to associate together for raising
joint fund to be placed in the hands of their common
agent for the redemption of their circulating notes in
the city of Milwaukee Madison, and also the circu-
lating notes of other banks in such manner and un
der such regulations may be agreed upon and TO
employ such agents and clerks as they deem
cessary to carry the business of such common
agency but nothing in this section contained shall
authorize the redemption purchase by such agency
of any circulating notes at rate of discount greater
than is herein provided fer relieve such banks
from any duty liability required imposed by this
act.
Section 10. Every such bank or banking assoc1a-
ton IN this State except such banks i banking asso
Citations may hereafter be located IN She
cities o. Milwaukee and Madison, shall redeem and
pay on demand, in the lawful money of the United
States all circulating notes issued by such banks
oanklng associations presented for redemption the
office OF the agent of such bank banking
tiou during the usual hours of the business of bank
ers. between the hours of and three O'Clock at a
rate OF discount not exceeding three fourths of
per cent.
Section IL. Every baak or banking association
whose agent shall neglect or refuse to redeem its
notes on demand, aforesaid. shall on proof henr
made to the bank comptroller such neglect or re-
fusal by the affidavit OF the person who presented
salu notes TOT redemption payment, on deposi
ting in his oihce the notes presented be subject
the sam penalties and be proceeded against in the
same manner aS Is now provided by law for cases
where the circulating notes any bank banking
association are protested for payment unless the
comptroller shall be satisfied that there good and
legal defence against the payment ofSuch no tes
Section Il. Every bank and banking association
shall redeem its circulating notes provided by
law. but in of neglect refusal to redeem its
therefor. such bank banking Ociation. if
Gated within the city of Milwaukee the city of
Madison, shall not be liable the holder of such
notes for damages Pr0rided, it shall. wit hin fifteen
days after receiving notice the comptroller to
pay the same, redeem said notes in the lawful money
of the United States with interest at the of Is
per cent per snpum Prorided, that the officer or Of
cerS OF such bank o. mixing association neglect
ing refusing to redeem its notes demand
endorse upon the bills package of bills present.
ed, acknowledgment of such presentation and re-
endorsement shall be held evidence of the state
ment therein made.