White Cloud Kansas chief. [volume] (White Cloud, Kan.) 1857-1872, 1861-10-17

amount Of securities by them deposited with
tho Auditsr of State; but no bank shaii c0ntin.
ee 70 transact any business, whatever, further
than what nny be required to close up afser
their capital stock, securities or circulation shall
have been reduced to less than twenty thou
sand dollars, nor in any case alter two years
from the date of said notice OF intention TO re-
linquish and close up their banking business, a.
aforesaid: and whenever the retiring bank or
bankers shall desire to withdraw all the securi
ties heretofore lodged with the Auditor of State,
they may do so, by producing aud fling with
the Auditor of State q certificate Of deposit TO
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, aud Of the sufficiency 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 tie County
where such bank shall have been located, and
in paper printed at the seat of government of
this State, that al circulating notes issued BY
such banking association or banker Unjust be
presented 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 auv securities which he NAV hold
for the payment of any unredeemed notes of
the said banking association or banker.
SEC IS. ANY banking association or banker
wishing to withdraw any of the securities BY
them deoosited with the Auditor of State. NAV
do 80 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ties thus withdrawn by deposits of said circula.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 five thousand
dollars. ''sfr- =" -.
SEC. 26. The securities to be deposited with
the Auditor of State, in trust, BY any associa.
ton or banker, shall be held by him exclusive
" 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 NAV 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 provided in section
twenty five of this act
SEC. q. 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 oftbe
bank, after he shall have made record of the
same, which shall specify the number of each
note, it's date, and by whom il was countersipn
ed in the books to he kent by himself for regis
terins circulating notes.
SIC. %. 1t shall be the duty of the Auditor
of State to receive mutilated Circulating notes
issued by hun, and after making record of
them, their denomination and amount. to deI;y.
er, in lieu thereof circulating notes to the same
amount. .iF -sIF6 : I77-
SEC. 90. The bills or notes of apr hank or
banking association shall be, at all times. re.
ceived by the same in PAYMENT Of ali dcbts
(due1 to such bank or banking association :
SEC. 30. If the declared capital OF apv bank.
ing association shall be reduced for onv nprnose
whatever. while the debts of the assoc;at;on re-
main unsatisfed, no dividend or profits in the
shares of the capital stock of the ASSOCIATION
shall thereafter be made. until the deficit of, The
cupital shall be made good. either nv snhscr;n-
ton of the shareholders, or ont oftbe suhse.
ouent accruiug profits Of the association. and.
If Il shall appear that any such dividends have
been made II shall be the duty of anv Judoe of
the District Court of the Comfy in vb;ch s,;d
bank is located, on application Of anv nerson in
interest, to make the necessary or,ler. and de-
crees for the closing of the affairs of the assoc;
alton. and distribute its nrmertv and efFects
among the creditors and Shareholders.
SEC 81, The officers or AGENTS of any bont-
in. association or banker, who shall nav ont. to
be nut in circulation as none, in this State.
anv hill. note. certificate of denos;t. or otbe,
naner having the simlitude III h.nk note
knowing the same to have been issued oISsr'
wise than by the authority of this or anv other
State of the United States or of the Rr;t;sb
shall fol each offense. unon conv;c.
ton thereof. be adiudeed guilty of misde mesnor
and shaII he fined by NOT less than ono hnnd,oS
dollars or nv not less than three no, more tbs
twelve months imnrisonment or both h. g. |
and irnprisonment.
SEC. 30. Such bank or BANKING association
NAV demand, and receive. for loans IN real and
security. or for notes. hills nr other
evidences of debts discounted snch rates of in.
terest as nav be AGREED mon nv the n.rt;.s
subject. however. to general Laws reenlst;no
and fixing the rate of interest-and IL sbaiI he
lawful to receive the interest in advance az.
cordinp to the ordinary usape of bank;nc ;,s,;.
tutions-and in general do all things and have
all the privileges incident to banking associa. |
lions or corporatiops.
SEC. 80. Every bank or banking assoc;,,;o, |
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