The Smoky Hill and Republican union. [volume] (Junction City, Kan.) 1861-1864, 1861-09-19
SUPPLEMENT- TO THE SMOKY HILL And REPUBLICAN UNION
Thurday. Ssren

association Of persons organized under the
provisions of this acr by his or their articles Of
association, % provide for an increase Of their
capital stock and of the numbers o: such asso-
citation, from time to time, as they may think
proper.
SEC. Is. Contracts made by any bank or
banking associations established under the pro
visions Of this act and all notes bills issued
and put in circulation as money. shall be
|signed by the president and cashier thereof,
and all suits. actions and proceedings brought
or prosecuted 10y and in behalf Of such bank or
banking association. shall be brought and
prosecuted in the corporate name mentioned in
The certificate made and filed as hereinbefOre
required.
SEC. 10 1t shall be lawful for such bank OF
banking association to purchase. hold and con
vey real estate, for the following purposes
First Such as shall be necessary for its i'm.
mediate accommodation in the Convenient tran
saction of Its business Second, Such az shall
be mortgaged to it in good faith by way of
security for loans made by, or money due to-
such bank Third, Such as shall b. conveyed
to it in satisf .ctien of deb;s previously con-
traeted in the course of its dealings Fourth,
Such as it shall acquire by sale Oh execution
or decree Of any court in its favor The said
bank shall not purchase, hold or convey real
estate III any other case, or for aay otner pur
pose whatever: AMI al conveyances of such
real estate shall be made to the corporations,
and VIII ,ch real estate the president and cashier
may sell assign, grant or convey, under the
direction Of the association, free from any
claim the eon in favor of or against the share.
holders or any person claiming under them
SEC. 20. The president aud cashier of every
bank formed pursuant to the provisions Of this
act, shall, at all times, keep a true and Correct
list of the names of all the shareholders of
such bank with the amount of stock held BY
esch, the times OF transfer aul to whom trass-
ferred, and shall fi'e copy of such list in he
Office Of the register of deeds Of the county
wherein such bank may be located, aud. also,
first Monday in January and July in each
year, and the stockholders in each bank shall
be individually llabl. in amount equal to dou-
BILE the amount of stock owned by them. Tor all
the debts Of such bank. aud such individual
liability shall continue for ne year after any
transfer or sale Of stock by any stakeholder or
stockholders
SEC p. In the event of the insolvency of
any bunk established under the provisions of
this act, the billholiers thereof shall he emit
tied to preference in payment over all other
creditors of such bink.
SIC -. 1t shall not be lawful for any bank
formed under the provisions OF thi. act to
make any Of its bills, or notes to be put in cir
cularon AS money, payable at any other place
than the Office where the business of tn. bank
is carried on and conducted, nor to issue of
the same at any other place, AMI said b LIS or
notes shall be made PAYABLE on demand and
without interest.
~
bank DESTROYS # reIiuqnishing the banking
busine 5, shall notify the State Auditor of such
then, and in slrh case, it shall be
competent! for said bank or bankers to .edeem
and deposit with the Auditor Of state, from
Inc to time, any amount # their circulating
notes which may have been issued to said
associa ton, bank or bankers, in sums, how
ever. not less than one thousand dollars at any
one time, aud to receive therefore aud with
draw an equal amount of securities by them
deposited with the Auditor of State; but no
bank shall continue to transact any business
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 d liars, nor in any
case after two years from the date Of said
notice Cf intention to relinquish and close up
their banking business, as aforesaid: and
whenever the retiring bank Or mixers shall
desire to Withdraw all the secrrt es hereto fore
lodged with the Auditor of State. they may do
50, by producing and filing with the Auditor Of
State certificate of deposit to his credit. in
such bank as he shall approve of, an equal
amount with the circulating notes of such bank
II banks then remaining unredeemel, AMI the |
Auditor of State, on being satisfied of such
deposits, aud Of The suficiency thereof shall
1--WE up all the remaining securities heretofore
deposited by such bank or bak rs for The |
redemption of the circulating notes issued.
SCI. "a. Such banking association or banl: !
r., after having complied with the provisions
If the last preceding section, shall give notice,
or two years, In some newspaper printed i'll !
he county where such bank shall have been |
coated, and in paper printed at the seat of
government Of this State, that all circulating
notes issued by such banking association o,
banker must be presented at the Auditor Of |
States office, within Two years from the date
ii such notice, or that the funds deposited for
he redemption of the notes will be given up
o the banking association or banker, and, on J
eceivng satisfactory proof OF the giving of
UGH notice for the time aforesaid, the Au 'itor
Il State shall surrender to the order Of such
anking association or banker, apy securities
'hich he may hold for the payment Of any
predeemei notes Of the said banking associa-
ion or bankers.
SEC. 25. Any banking association or banker
'ishing to withdraw any OF the securities by
hem deposited with the Auditor of State, may
o so by depositing an equal amount of the
notes which may have been issued
o SAID association or banker by the Auditor
{ State, in sums of net less than one thousand
ollars; Provided, That the amount of secu-
lilies thus Withdrawn by deposits of said cir.
ulating notes, shall not reduce the amount of
took securities remaining in the hands of the
nditor OF State, to less thar twenty five
thousand dollars