The Smoky Hill and Republican union. [volume] (Junction City, Kan.) 1861-1864, 1861-10-03


provisions of this acr by his their articles Of
association, 70 provide for an increase Of their
can;tal stock and of the numbers OF such asso-
citation. from time to time, as they may think
proper.
SIC. 10. Contracts made by any bank CT
banking associations established under the pro-
visions of this act and all notes or bills issued
and mt in circulation as money, shall be
signed by the president and cashier thereof,
and all suits, actions and proceedings brought
or prosecuted by and in behalf Of such bank or
banking association, shall be brought and
prosecuted in the corporate name mentonet4n
| the certificate made and filed as hereinbefore
required.
banking association to purchase, hold and con-
yey real estate, for the following purposes
lFirst-Such as shall be necessary for its i'm.
mediate accommodation in the convenient tran
saction of Its business Second, Such As 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 be conveyed
to it in satisfaction of debts previously con-
traeted in the course Of its dealings. Fourth,
Such as it shall acquire by sale on execution
or decree of any court in its favor. The said
bank shall not purchase, hold or convey real
estate in any other case, or for any other pur-
pose whatever. and all conveyances of such
real estate shall be made to the corporations,
and which real estate the president and cashier
may sell assign. grant or convey, under the
direction of the association, free from any
claim the reon in favor Of or against the share.
holders or any person claiming under them.
Sec 20. The president and cashier Of every
bauk 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 bauk, with the amount Of stock held by
each, the times Of transfer and to whom trans
ferred, and shall file copy of such list in the
Office of the register of deeds of the county
wherein such bank may be located, and, also,
in the office of the Auditor Of State, on the
FIRST Monday in January aud July in each
year. and the stockholders in each bank shall
be Individually liable in amount equal to dou-
bic the amount of stock owned by them. for all
the debts of such bank, and such individual
liability shall continue for enc year after any
transfer or sale Of stock by any stakeholder or
stockholders.
SEC. Fl. In the event of the insolvency of
any bank established under the provisions of
this act, the bilholders thereof shall be enti-
tied to preference in payment over all other
creditors Of such bank.
SEC %. 1t shall not be lawful for any bank
formed under the provisions Of this act to
make any of its bills, or notes to be put in cir
culation as money, payable Mt any other place
than the Office where the business of the bank
is carried on and conducted, nor to issue of
the same at any other place, and said bills or
notes shall be made PAYABLE on demand and
without interest.
SEC. % When the owner or owners of any
bank, DESTROYS Ct reiinquishing the banking
busine s, shall notify the State Auditor Of such
intention, Them and in such case it shall be
competent for said bank or bankers to redeem
and deposit with the Auditor of State, from
time to time, any amount Of their circulating
notes which may have been issued to said
association, bank or bankers, in sums, how
ever, not less than one thousand dollars at any
one time, and to receive therefore and with
draw an equal amount CT 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 dollars, nor in any
case after two years from the date of said
notice Ct intention to reinquish ard 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
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
or banks then remaining unredeemed, and the
Auditor of State. on being satisfied of such
deposits, and of the suffciency thereof, shall
give up all the remaining securities heretofore
deposited by such bank or baukrrs for the
redemption of the circulating notes issued.
SCI. "A. Such Banking association or bank
er, after having complied with the provisions
of the last preceding section shall give notice,
for two years, in some newspaper printed III
the county where such bank shall have been
located, and in paper printed at the seat OF
government Of this State, that all circulating
notes issued by such banking association or
banker Unjust be presented at the Auditor of
States Office, within two years from the date
OF such notice, CT that the funds deposited for
the redemption of the notes will be given up
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 Of such
banking association or banker, any securities
which he may hold for the payment of any
unredeemel notes Of the said banking associa-
ton or bankers.
SEC %. 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 an equal amount of the
circulating notes which may have been issued
to said association or banker by the uditor
of State, in sums of net less than one thousand
dollars; Provided, That the amount of secu-
rites thus Withdrawn by deposits Of said cir.
culating notes, shall not reduce the amount of
stock securities remaining in the hands of the
Auditor of State, to less than twenty FIVE
thousand dollars.
SEC. %. The securities to be deposited with
the Auditor Of State, in trust, by any assoca-
tionor banker, shall be held b. him exclu-
sivelv 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