Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1861-10-11

Whose several terms OF Office VIII expire on the 3lst
Member Of Assembly for the Assembly Districts
compri, ing
first, second third, fourth and seventh wards OF the
city OF WatertUan.
S ooad The towns Milford, Waterloo, Lake Mills,
Oakland and Aztaian,
Third. The towns OF Hebron, Jefferson, Sumner,
Ko hkonorg and Cold Spring.
FoasItt The town OF Farmingto Concord, Sulf-
and Palmyra, in the aid county OF JefIer4 on.
One County Superintendent of schools
One Superv or in each Assembly District in said
county, and one SUI erYlsor Tor the county at large
At the ~ame election the que ton viii be taken upon
the approval by the people OF the amendments pro
posed he General Banking Law, nv cAapter242 Of
the General Law OF J. a amended by chapter of
the General Laws OF tie extra session of 1851 as fol-
lows
CHAPTER 242.
As amended By Chapt-r l. Extra Session.
AN ACT 0 amend he General Banking Law, and the
several aets anendatory thereof.
The peapHs Of tn STATE Of Wisconsin, represented an
s mate and ass lntIy 40 enact as toLocs:
Section l. Section D. OF chapter Il of the Revised
Statute. wi rhe Jpereuuto belonging amendment.
Gee chapter g OF the General Law OF Is5s i here
oy amended a follows by ~triHiEg out the following
""ld = Sald sioeNs TO be valued at g rate to be
tnIated and governed by the average rate at which
aid stocis nave been old in the city OF New York
"ithth the next SIX months preceding the time when
suc stocks may be left deposit with ComltroI-
Ter By triking out the words 'se4nal TO. and in
sertng d ter he wCrd mot exceeding the words
'.iu value" by SJrIRiug out the following word
'but such public tocAN ,halI in all cases be- or be
made to he equal 20 stock producing six per cent
Per anEum and Ii nail not be lawful for the Bank
Comptroller 20 take Sucn toek at rate above it. par
value, above it market yaIuc IN the ciry
OF New York, at the time OF depo it, by such per on
or ASSOCIATION OF person., and by in-ertng in lieu
thereof he ioliowiHg land il hail DC lawful for the
Bank Comptroller to issue for public stocks which
have been nging above par during the last ix
months, and up to he time OF in New York
market. circulating up the par value Of aid
stoc5 but the Comptroller hail ct issue Tor pub
ron .9tT hat E.apI nd
ton than 81 per cent. OF the current market value of
aid tock- at the time OF deyo it. nor more than 40
per cent OF the market value during he last
TX month AID f'r such tocNs during he Ia six
month have been at and above we'll below par
the Comptroller hail not IS than 80 per cent
o. the average value during the lat six months, nor
in any event than 90 per ofits market value
Oh the day OF deposit nor more than ninety per cent
the par value OF UGH stocks - that the aid ec
hereafter any per alton of persons form ID
for the pur7oss OF banking under the provisions of t
chapter shall duly ig and transfer in tru to the
treasurer o. TN state any FOR 10 OF the public toczs
issued to lie issued Ey-the United sale oranvSrs+s
stock, which full interest i, annually paid such
per on or ASSOCIATION OF person shall be entitled TO
receive from Bank Comptroller an amount of s rb
circulating note OF different denominations regterrd
and counter lgned. and not exceeding in value the
amount of public stocks >igned aud ran ferred R
aore aid and it shall be lawful for the Bank Conn
troller issue for public stocks which Irsva ~,
ranging above par during the last >iy mans
and up the time OF deposit in the New York r1sr3
circulating notes to the par value aid stocks bn
ing below par in said market, more circulation 49,
80 per cent. Of the current market value OF s. oc
a. the time of deposit, than 90 per cent Of
tle average market value during the la xix months
al Tor such stocks during the last months hsy
been at and above well below par the ColnutTol
Ter hall not is-ue than 90 er cent Of he va~
age Taiue during the last SIX months nor in anv avor+
than so ger cent of its market value On the day
dePo il. nor than 9. per cent of the par va.e
OF such atocks PToUdtd, that if in the opinion of
the Bank Comptroller. together with the Ci0va~nor
and the Secretary OF State any stocks offered shall be
deemed in ecure, they shan not be received a. 81 cb
-ecuritie@ under the provisions OF this An9 mo
rid fgthr =, that and AFT the first dav of De-
cem5er 1861 the Bank Comptroller shall not receive
a security for circulating Bank Notes, any other pub
lie to s than tho issued by the State Of Wiz copsin
and the United States.
Section Any public stocks described in the nr.
ce'jDg ection, and issued at rate of interest less
than i've per per annur, TO be receivable ~ the
Bank Comptroller, hail be made to he equal to stocks
producing five per cent per annu1.
Section 3. Section 40 Of chapter Il Of the Revised
Statute. Is hereby amended by Inserting between the
words ''located', and to" in the l9th line Of said
section, the we'd scr to the judge n chambers"
Section i. Every bank and banking as ociation now
organized in th State ard all banks and banking as
octationS that nan De organized before the first day
Of December. 1851 except such hanks ard banking
ociations arc or may hereafter be located in the
cite OF Milwaukee and Madison, hall on or before
said day OF December next, apport an agent Who
haI keep office in the city of Nj raukec or IN tfe
civ OF Madi on for the reclamation Of ali crcpIatS
note. is-ued by suca bank Lansing oc alton,
which bail Be presented to such agent for payment or
redemption.
StCtjoii IL d"4oih LiilelL CT CCE agent snail be
made in writing ard uch written afpol4 hall
delivered tire Ban Comvtrollpr On or EFF re id
fr-t day Of Deeem e. next who hail lie the aue IN
III once. II any BANK or banning @oc.ation shall
neglect refuse TO APP ont Uch agent within he time
above mentioned, the Baak Conn trolIer shall appoint
Such agent for such bank or ban ing a location
Section G. TIE Bank Comptroller shall, immediate
y after aid frt day Of December next during such
time as he may deem aGvi able publish lit Of such
agent in one daily RewSTa er, in the city Of
Madison, and in daily aler Eylbli he'd in the
city Of Milwaukee, the expense whereo1 shall be equal
ly divided among che several banks banking oci-
aoDe % published, and be paid bythem to the Comp
troler demand, under penalty Of forfeiture of che
hundred dollar TO he collected and applied a. pro-
vide in spect to the forfeit named in ecton IS
cna.'ter Il, OF the Revised statute.
Section Z Every bank or banking association here
after organized shall before receiving arv Circulating
notes from he Bank ComPtro Ter, appoint agent for
the purpose of thi act; and ch appointment shall
be immed ate!y ubli~hed in the manner asore ad, at
the expen -uch hank or banking as ocaton TO be
collected in the manner above provided.
Section ?. Appointments of agents made in pursu-
ance Of this act, NAV be revoked and new appoint
ment O agents made from time to tme by delivering
such revocation and appointment to the Bank Comp
troler who hail cause the same to be published as
before provided.
Section It shall be lawful for any number Of
banks banking association, authorized by this act
pont agent to -sociate together for raising
JOINT fund be placed in the hand of their common
agent Tor the redem OF their Circulating note in
the city of Milwaukee or Madison, ard also the circu-
latng of other banks in such manner, and IN
der .uch FeETiations a may be agreed upon and to
employ such agents and clerks they may deem ne
ary to carry the business OF such common
agency but nothing in thu section contained shall
authorize the redemption purchs by oh agency
OF any circulating note Al rate OF d count greater
than Is herein provided fer, relieve such banks
from any duty liability required or imposed by this
Section 10. Every such bank or banking aqsocla-
ton in tbi State cept UGH banks / banking asSo-
Citations may hereafter be located in the
cities of Milwaukee aud Madison, shall redeem and
pay on demand, in the lawful money of the United
State, all circulating is ued by such banks or
banking assoeiations pre- ented for redemption
Office OF the agent Of uch bank banking as ocia-
ton, during the uaI hours Of the business Of bank
er, between the hours Of and three O'Clock at
of discount not exceeding thTee fourhs Of one
per cent
Section Il. Every baBk or banking association
who e agent shall neglect or refuse to redeem its
notes on demand. afore aid, hall, proof being
made to the bank comptroller Of such neglect or
fu a! by the affidavit o. the Per on who presented
laid for redemption or payment, and on depoi
ting in his office the presented. be subject
the penalties and be proceed against in the
same manner a is now provided by law for ca e.
where the circulating notes any bank or banking
ocstoD protested for hon payment. unless the
comptroller hall be att fed that there is good and
legal defence against the payment of such no ses
section l.. Every bank and banking association
shall redeem it Circulating notes provided by
law. but in Of neglect refusal to redeem is
notes pre- entation It's counter, and Of protest
therefor. Such bank banking ocation if not To-
cated within the city Of Milwaukee the city of
Nadi shall not be liable to the he der Of such
notes fer damages: PTorjd,d. It SHALL viii min fifteen
days after receiving notice from the comptroller to
pay same. redeem aid notes in the lawful money
of the United State with at the rare of IS
per per Prorid d, that the officer or Of
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