Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1861-08-16

I
Whose several terms Of Office will expire on the 3Ist
day OF December. 166l
A Member OF Assembly for the Assembly Districts
comprising
First. The towns of Ixonia and Watertown and the
first, second third, fourth and seventh wards of tie
city of Watertown.
Second. The towns of Milford Waterloo Lake Mills
Oakland and AztaIan.
Third. The towns of Hebron, Jefferson. Sumner
Koshkonong and Cold Spring
Fourth The towns OF Pennington. Concord SulG-
van and Palmyra, in the said county of Jefferson.
One County Superintendent Of schools.
One Supervisor in each Assembly District in said
county, and SUI ervisOr for the county large
At the same election the question will be taken upon
the approval by the people of the amendments pro
posed to he General Banking Law, by chapter 242 of
the General Laws of 1861, amended by chapter
the General Laws Of the extra Session Of 1891
lows
CHAPTER 20.
As amended by C7tarter1 l. Extra .Ssssioa.
IN ACT 70 amend the General Banking Law, and the
several acts amendatory thereof.
The peaple Of the State ef Wisconsin, rfpreSaed in
Senate and assembly, do cBact toiotcs:
Section l. Section p Of chapter IL of the Revised
(see chapter 95 of the General Laws OF 1855 is here
by amended as follows by striking out the following
words: SAID stocks to be valued a. a be
timeted and governed by the average rate at which
said stocks have been sold in the city OF New York
witt hin the six months preceding the time rheI,
such stocks may be left deposit with the ComptroI-
ler. BY striking out the words .'eQua % and in
serting alter he words 'not exceeding the words
aUeA PoIle StocAs 'LaIi, III al cases. pe, or be
made to be. equal to stock producing six per cenr.
per annum and it shall not be lawful for the Bank
Comptroller TO take such stock at rate above its par
yalue, above II current mari value the city
OF New YORK, al the tine q d-Po-lt by such Eer
or a-setla1'on on persons asa Hy tiiSeEtg IN tu
thereof the following: and II shall be lawful the
Bank Conf troiler 10 issue for pubic stocks, which
have been ranging at or above par during the last six
months and up to the time e dePO it in she New York
market. circulating notes p the par value of said
stocks but the Comptroller shall not issue FOR public
2p N eff NOR r4,rpfr
ton than 90 per cent Of the value OF
said stocks at the time Of deuo.if nor D7ore L ca
per cent OF the average market value during he
six months; and fr such stocks during lie last six
months have been at and ah0ve well as below par
the Comptroller shall not issue than 90 per cent
oi the average value du1ing 5he last SIX months.
in any than 80 per ofits market vaIue
the day of deposit, more than ninety per cent
OF the par value OF uch stocks = so that the said
ton shall hencetorth read as follows: 'sWheaever.
hereafter, any person ocaon of persons formed
for the purpose OF banking under the provisions this
chapter. shall duly assign and III trust to the
treasurer of this State any per of the public stocks
issued be issued by tile United States or av state
stocks, which full interest Is annually paid such
person or association of persons shall be entitled to
receive from the Bank Comptroller of such
circulating notes OF different denominations registered
and counter>lgned, and not exceeding in value the
amount of public stocks assigned and sferred as
aforesaid and it shall be lawful for the Bank Comp
troller 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 ork market
circulating notes mp to the value of said stocks but
the Comptroller shall issue for public stacsrapg
ing below par in SAID market, more circulation than
90 per cent of the current market value OF lid stocks
the time of deposit, than 80 per cent of
the average market value during the last six months
and for such stocks during the last onths have
been at and above well below paf. the ComptroI-
Ter snail not issue than so per cent. of the aver
age during the last months nor in anv event
than so per cent ofits market value the day
deposit than 90 per cent of the par vaI,le
of such stocks: IYcrided that if in the opinion of
the Bank Comptroller, together with the Governor
and the Secretary of State any offered shall be
q : cb
securcs under the proyi ions of this act. And pro-
rid further that from and aft er the fr-t day OF De
cember. 1861. the Bank Comptroller shall not receive
security for circulating Bank Notes any her nul-
lie sto~Es rf,ar those issra,J Inv fLn St.re ~ ~: -;
and the United states.
Section , ANY public stocks described in the pre-
ce'iug econ, and issued At rate of interest less
than FIVE per cent per a"nun 70 r receivable Iy tie
Bans Comptroller, hail be made 80 be equal to stocks
producing i've per cent. per annum.
Section 3. Section 10 Of charter II of the Revised
Statutes, l. hereby amended by inserting between the
words slocatrd' and .ro.' IN the 18th line of said
section, She word s'or to the judge d. chambers''
Section l. livery hank and banking association now
organized in this State, and all banks and banking a
sociatiorS that shall be organized before rt day
of December, 1861. except sach lanks and banking
association a. are nay Hereafter be located in the
cities of Milwaukee and Nadi-on shall on or before
said first day Of December next appoint agent who
shall keep Office in the city OF 3Ii waUhee
city Of di-on, for the redemption Of all circulating
notes issued by such bank banking as ociation
which shall be presented to such agent for payment
REDEEM Ption.
section D The appointment of such agent shall be
made in writing, and such written appointment shall
be delivered to the Bank Comptroller before said
first day of Decent next who shall file the same in
his office If any bank banking association shall
NEGLECT or refuse to apruint such agent wit hin the time
above mentioned, the Bank Comptroller shall appoint
such agent for such bank or banking a~so ociation
Section 6. The Bank Comptroller shall, Immediate
ly after sald first day of December next during such
time he may deem advis able publish list Of such
agents in one daily newspaper, published in the city of
Madison and in daily neTSpaper published in the
city OF Milwaukee, the expense whereof shall be equal
ly divided among the several banks or banking ass oc
ations published, and be paid by them the Comp
troler on demand, under penalty OF forfeiture of
hundred dollars, to be collected and applied pro-
vided in respect to the forfeiture in section H.
chapter Il, of the Revised Statutes.
Section 7. Every bank banking association here
after organized. shall before receiving any
netes from the Bank Comptroer apront an arant for
the purposes Of this act and such appointment shall
be mmedia ely published in The aforesaid. at
the expense OF such bank banking association be
! collected in the manner above provided.
Section 8. Appointments of agents made in purs u
ance of this act. may be revoked and appoint
of agents made from time to time by delivering
Such revocation and appointment to the Bank Comp
roler, who shall cause the same to be published as
before provided
Section g 1t shall he lawful for any number of
hanks banking associations, authorized by this act
to appoint agent ociate Joge her raj sing
joint fund to be placed in tie hands OF their
agent the redemption of their circulating notes in
the city of Milwaukee Madison, and also the circu-
lating OF other banks in such manner and an
der such regulations a may be agreed upon and TO
eInl 10y such agents and CLERKS as they may deem ne
I cessery to carry on the business OF such common
4
authorize the redemption or purcha By such agency
of any circulating notes at a rate discount greater
than i herein provided for relieve such banks
from any duty liability required imposed by this
7 act
Section 10 Every such bank or banking assoc,a-
ton this STATE cept such hanks & baINuc a~zo-
Citations may hereafter be located III he
cities of Milwaukee and Madi shall redeem and
I pay demand. in the LAWFUL money of the United
States ali circulating notes issued by such banks
banklnE associa ous presented for redemption the
office of the agent of such bank banking ocia-
he hg1l no .Fl
err. between the hours Of and three O'Clock. at a
rate o. discount not exceeding three fourthS Of
/ per cent.
/ Section Il. Every bank or banking association
Z whose agent shall neglect refuse to redeem irs
notes on demand, aforesaid shall on proof being
made 70 the bank comptroller Of such neglect
fuSal ny the affidavit o. the person who present ed
said notes tor REDEEM ptiOn payment aud on denoSi
ting IN his office the notes onted, be subject to
the penalties and be proceeded against in the
/ same manner "a i nov provided by law for cases
where the circulating notes any bank or banking
association protested for payment. unless the
comptroller shall be satisfied that there good and
! legal defence against the payment of such no tes
Section Il. Every bank and banking association
shall redeem its circulating notes provided by
law but in case of neglect refusal TO redeem its
notes on preseu taton its counter, ard protest
therefor such bank banking association if not To-
Gated within the city of Milwaukee the city OF
Madison. shall not be liable TO the holder Of such
notes for damages: PTorded it shall, within fifteen
days after receiving notice from the comptroller TO
pay the same redeem said notes in the lavf u money
of the United States. with interest at the rate of Is
per cent per annum Proridd that the officer Of
ieers OF such hank banking association so neglect
ing refusing o redeem its notes on demand, may
endorse upon the bills package Of bills present
ed an acknowled gment Of such presentation and
fuSal. and waving protest upon the same and such
endorsement shall be held evidence CT the state
meDt therein made.
Section Is No bank OF banking ASSOCIATION shall