The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1861-10-19


petent for said bank or bankers to redeem and
deposit with the Auditor of State, from time to
time, any mount Of their circulating notes which
may have beer issued to eaid association, bank or
bankers, in sums, however, not less than one
thousand dollars at any one time, and to receive
therefor and withdraw equal amount of securi
ties by them deposited with the Auditor Of State;
but no bank shall continue 10 transact any bust
ness 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 thousand dollars, nor in any case at
ter two years from the date of said notice of in
tentiOn to relinquish and close up their banking
business, as aforesaid; and whenever the retiring
bank or bankers shall desire to Withdraw all the
securities heretofore lodged with the Auditor of
State, they may do so. by producing and fling
with the Auditor of State certificate of deposit
to his credit, in such bank he shall approve OF,
an equal amount with the circulating Eotes of
such bank or banks then remaining unredeemed.
tand the Auditor of State, on being satisfied of
such deposits and of the sufciency thereof, shall
give up all the remaining securities heretofore de-
i posted by such bank or bankers for the redemp-
ton Of the 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
O paper printed at the seat of government of this
State, that all circulating notes issued by such
banking association or banker must be present
ed at the Auditor of States Office, within two
funds deposited for the redemption of the notes
will be given mp to the banking association or
| banker; and, on receiving satisfactory proof of
| the giving of such notice for the time aforesaid
the Auditor of State shall surrender to the order
j Of such banking association banker, any Sc
curities which he nay hold for the payment of
any unredeemed notes of the said banking asso-
| citation or bankers
4 SEo. 25. Any banking association or banker
! wishing to withdraw any of the securities by
! them deposited with the Auditor of State, may
do so by depositing equal amount of the cir
cuiating notes which may have been issued to
said association banker by the Auditor of State
in sums of not less than one thousand dollars;
PrOuided, That the amount of securities thus with
drawn by deposits of said circulating notes. shall
not reduce the amount of stock securities re main
ing in the hands of the Auditor of State, to less
| than twenty five thousand dollars.
| SEC. 20. The securities to be deposited with the
! Auditor of State, in trust. by any association
| banker, shall be held by him exclusively for the
redemption of the bills or notes of such bank,
| put in circulation money, until the same are
paid and returned to the Auditor of State as pro-
vided in this act; but the Auditor of State may
assign said securities to said ISOLATION bank
er transferring the same, upon receiving therefor
equivalent securities, or an equivalent amount in
circulating notes issued by such bank, as prOvid-
ed in section twenty five of this act.
i SEC. 81. All circulating notes of banks or bank
ing associations. returned to the Auditor of State
shall be destroyed by him in presence of the Gov
| ernor and authorized officer of the bank after
! shall specify the number of eGch3note its date,
and by whom it was countersigned in the books
to be kept by himself for registering circulating
! notes.
SEC. %. Tt shall be the duty of the Auditor of
State to receive mutlated circulating issued
by him, and after making record of them, their
i denomination and amount, to deliver, 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, recev-
ed by the same in payment of all debts [duel to
such bank banking association.
SEC 30. If the declared capital of any banking
association shall be reduced for any purpose what
ever, while any debts of the association remain
unsatis6ed, no dividend profits in the shares of
the capital stock of the association shall thereaf-
ter be made until the deficit of the capitl shall
be made good, either by subscription of the share
holders, OF out of the subsequent accruing prof
its of the association; and, if it shall appear that
eny such dividends have been ma lie. it shall be
the duty of any Judge of the District Court of the
county IN which said bank is located, on applica-
ton of any person in interest, to make the neces-
sary orders and DEGREES for the closing of the af
fairs of the association, and distribute its prop
| erty and effects among its creditors and share
holders
SEC 81. The officers agents OF any banking
association or banker, who shall pay out, to be
put in circulation money in this State, any BILL
note. certificate OF deposit OF other paper having
| the simiIitude of bank note knowing the same
to have been issued otherwise than by the author
ty of this any other State of the United States
| or the Congress of the United States, or of the
British Possessions, shall, for each offense, upon
conviction thereof, be adjudged guilty of INSIDE
meanor, and shall be punished by inc of not less
than one hundred dollars, by not less tn ian
| three nor more than twelve months Imprisonment,
or both by fine and Imprisonment.
Sec. 50. Such bank or banking association.may
demand, and receive, for loans on real and per-
sonal security, for notes, bills or other evil
dences of debts discounted, such rates of interest
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 re
ceive the interest in advance, according to the or
binary usage Of banking insitutions-and in
general do all things and have all the privileges
incident to banking associations or corporations.
| SEC. SO. Every bank or banking association
shall, on the first Monday of January, April, Jul
Iy and October, in every year, after having COM
menced the business OF banking as provided in
this aet make aud transmit to the Auditor of State
a report, which shall be made oath of the pres
ident and cashier, and shall contain true state
ment of the following items, on the mornings of
the first Monday of January. 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 and promssory notes; bills of
solvent banks; bills of suspended banks; loss; ;
expense account; capital; circulation; amount
| due to depositors on demand; amount due
not included under either OF the above
heads And it shall be the duty of the Auditor
of State to collate and publish said report { nee
ment and in the county in which said bank or
banks are located, and the expense thereof shall
be betrayed by the banks; and. if any bank shall
fail to furnish to the Auditor its quarterly report
in time for such publication. shall fail to pay
the expenses incurred in the publication of its re-
port, when they shall be demanded by him, it
shall forfeit and pay the Auditor of State the sum
of one hundred dollars, 70 be applied by him to
the expense of publishing the quarterly reports;
and the Auditor of State is authorized to collect
said forfeiture in his name, upon his application
to any court of competent Jurisdiction, in the
county where such delinquent bank may be To-
Gated. The Auditor of State shall, also, trans
NIT, annually. to the Legislature, at the com
meneement of its session, condensed summary
of ali the items reported TO him by all the banks
which summary. verified by his oath, shall con
tain true and correct statement of the condition
of all the banks in the State at klie time OF the
making of their last report
SIC 81 Every bank and banking association
formed under the provisions OF this act shall an
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