The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1861-10-19
Vol. 5----No. 3.


SEC. IL. Such person or association Of persons
shall have power to carry the business Of
banking, by diseounting bills, notes, and other
evidences Of debt. by receiving deposits, by buy
ing and selling gold and silver bullion, foreign
coin and foreign and inland bills of exchange, by
loaning money real or personal securities, nd
by exercising such incidental powers as may be
necessary to carry on such business may choose
one of tn cir number as president, aud appoint a
cashier and such other officers as their business
may require, and TO remove such president, cash
ier officers and agents at pleasure and to appoint
others in their places; but no such association
banker shall commence the business of banking
under this act, until such association or banker
shall have deposited with the Auditor Of State the
securities required by this act.
SIC. Is. The shares in such bank shall be
desmed personal property, and shall be transfer
able on the books of the bank in such manner as
may be agreed upon in the article organizing such
bank, and every person becoming stakeholder
therein shall. IN proportion 70 ms interest, sue
bilities of prior shareholder or shareholders; 0
change shall be made in the articles organizing
such bank, whereby the rights, remedies or Sc
curites of existing editors shall be IN any man
ner Impaired, and any association constituting
| such bank she'll not be dissolved by the death
or insanity of any one of the shareholders there
| in. @14 fEl
| SEC IA. Ifthe maker or makers Of any such
circulating note notes, countersgned and regis
tered aforesaid, shall at any time hereafter,
| lawful demand, during the usual hours of bust
ness, at the place where such note notes is
are made payable, fail or refuse to redeem such
note or notes, in the lawful money of the United
States, the holder or holders of such note notes
making such demand may cause the 10 be
protested, for non payment, by a notary public
under his official seal; but the maker or maker of
such note or notes shall not be liable for the ex-
pense of protesting the same, unless, on such
demand and refusal so to redeem the same, he
they shall refuse to waive protest and notice of
protest thereon, and such waiver of protest shall
/ a he deemed emf IN he La
protest thereof; and such notary shall, on pro-
testing the same, forthwith forward notice of such
protest to the Auditor of State; the notary max
ing sDch protest shall certify Ia his notice of pro-
test the number of notes on which said paying
was refused, and describe them 10y their numbers
and letters and shall also certify to the aggregate
| amount of said notes. The Auditor of State, On
receiving and filing in his Office such protest. to-
gether with such note or notes aforesaid, shall
forth with give notice in writing to the maker or
makers of such note or notes. to pay the eame and
ii they shall omit to do SO for twenty days after
such notice, the Auditor shall immediately there
upon, unless he shall be satisfied tn re is a good
and legal defense against the payment of such
note or notes. give notice that all the circulating
notes OF such person or association of persons
and countersigned and registered as aforesaid
will be redeemed out of the trust funds in his
hands for that purpose, which notice shall be
given by publishing the same in some newspaper
printed In the county where the business of such
bank is established, and in some newspaper
printed at the seat of government of this State;
and the Auditor of State shall be required to APP
ply the said trust funds belonging to the maker
or makers OF such protested note or notes, to the
payment of all circulating notes. whether pro-
tested or not, put in circulation by the maker or
makers of such protested note or notes, pursuant
to the provisions of this act, and to adopt such
measures for the payment of such notes as will,
in his opinion, most effectually prevent loss to
the holder of such notes; and to this end, the
Auditor of State may, after the expiration of said
twenty days, and after giving thirty days notice
by publication IN newspaper printed at the seat
of government of this State and in daily news
paper printed in the city of New York, proceed
to SELL at the Merchants Exchange, in the city of
New York, at public auction, the securities so
pledged and out of the proceeds of such sale shall
pay pro rata and cancel ali bills and notes which
have been issued and put in circulation by such
bank under the provisions of this act; but moth
ing in this act contained shall be considered as
implying any pledge the part of this State. for
the payment of such bills or notes, beyond the
proper application of the securities pledged to the
Auditor of State for their redemption.
SEC. Is. Such bank or banking association shall
be liable to pay the holder of every bill or note
put in circulation money. the payment of which
shall have been demanded and refused, at the
banking house or usual place of business of such
association or bankers, damage for non payment
thereof, from the time of such refusal until the
payment of such evidence of debt, and damages
thereon. rsE
SIC. 16. 1t shall not be lawful for the Auditor
OF State or his deputy, to cOuntersign bills or
in the aggregate exceeding the securities at their
value, as before provided in this act, deposited
with him in trust by such association or banker,
or to use or dispose of such securities in any
ner other than provided for in this act; and any
Auditor of State or deputy, who shall violate the
provisions of this section, shall, upon conviction,
be deemed guilty of misdemeanor, and be pun
ished by fine not less than five thousand dol
lars, or be imprisoned not less than five years in
the Stnte's prison, or by both such fine and i'm
prisonment. &9t rsE
Sec II. 1t shall be lawful for any person or
association of persons organized under the pro-
visions of this act, by his their articles of asso-
citation, to provide for increase of their CAPITAL
stock and Of the numbers of the association, from
time to time. as they may think proper.
SEC. 10 Contracts made by any bank or bank
ing associations established by the provisions of
this act, and all notes or bills issued ard put in
circulation as money shall be signed by the pres
ident ana cashier thereof, and all suits, actions
and proceedings brought prosecuted by and in
be brought and prosecuted in the corporate name
mentioned in the certificate made and filed as
hereinbefore requred. .,--.s
SEC. 10. 1t shall be lawful sor such bank or
banking association to purchase, hold and con-
vey real estate, for the following purposes First
Such as shall be nece ssary for its immediate
accommodation in the convenient transactions of
Its business. SecOnd-Such as shall be mortgag
ed 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 contracted in the course of its
dealings. Fourth-Sueh it shall acquire by
sale on execution or decree of any court in its ia
vor The said bank shall not purchase hold or
convey real estate in any other case or for any
other purpose whatever, and all conveyances of
such real estate shall be made to the corporations
aud which real estate the president and cashier
may sell. assign, grant or convey, under the di-
rectlon OF the association, free from any claim
thereon IN favor of or against the shareholders
or any person claiming under them.
SEC. ~. The president and cashier of every
bank formed pursuant to the provisions of this
act, shall. at all times. keep true and correct
list of the names of ali the shareholders of such
bank. with the amount Of stock held bv each
the times of transfer and to whom transferred
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
and July IN each year, and the stockholders in
each bank shall be Individually liable in amour:
equal TO double the amount of stock owned by
them, for all the debts nj haaE nj