Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1861-09-14

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Of Milwaukee, the expense whereof shall be
equally divided among the several banks or
BANKING associations so published, and he paiG
by them 10 the Comptroller on demand, under
penalty Of forfeiture Of enc hundred dollars. 10
be collected and applied as provided in re.
s9ect to The forfeiture named in section Is,
| chapter II, Of the Revised Statutes.
See. Z. Every bank or banking association
| hereafter organized, shall, before receiving
I any circulating notes from the Bank ComDtrol-
Ter, appoint an agent for the purposes Of this
act; and such appointment shall be immedi-
atcly published in the manner aforesaid at the
expense Of such bank-or banking association,
/ to be collected in the manner above provided.
Sec. s. Appointments Of agents made in
pursuance Of this act. may be revoked and new
appointments Of agents made from time to
| time, bydeliyering such revocation and APP
/ Pointment to the Bank Comptroller who shall
cause the same to be published as before pro-
yidel.
| Sec. 9. It shall lie lawful for any number Of
! banks or banking associations. authorized bv
! this act, to appoint an agent to associate to-
GetL2f i2r raising 2 Joint fund, TO be placed in
the hands Of their common aoan5 for the re-
dcmption Of their circulating notes, in the city
/ OF milwaukee, or Madison, and also the circg-
ltflh% notes Of other banks in such manner,
/ ana U;ider such regulations as may be agreed
upon, ana to employ such agents and clerks
as llcF may deem necessary to carry on the
/ BUSINESS o. SHcA common agency; but nothing
/ - l''is SccloA contained SHAT authorize the
/ 'c"o'4I'tioh or purchase by such agency 81 any
| cIi'c1!"I,n@ notes at rate OF discount greater
IMAM IS herein provided fol-, nor relieve such
banks IRON any duty or liability required or
imposed by this act
nee. ~. Every such bank and banking as
So1i".Loh III tins state, except such banks and
| oILAiiag associations as now are or may here
| AZ ter be located IN the eiies Of Milwaukee and
AatIson, snail redeem and pay, on demand, in
! the Lawful money Of the United States, ali cir
cUlating notes issued by such banks or bank
ing associations, presented for redemption at
the office Of the agent Of such bank or bank
ing association, during the usual hours Of the
business Of bankers between ec hours OF ten
and three O'Clock, at q rate Of discount not
/ exceeding tarcc-tUurths ofone per cent.
See. IL. Every bank or banking associa-
ton, whose agent shall neglect or refuse to
redeem its notes on demand as aforesaid
shall, on proof being made to the bank comp
troiter Of such neglect or refusal by the AFT
! o2TIt 81 the person who presented said notes
for redemption or payment. and on doA0s:tinn
in his office the notes 50 presented, be subject
to the same penalties, and be proceeded
against IN the same manner, rs IS now proyil-
ed by law for cases where the circulating notes
Of any bank or banking association are pro
tested for no0-paymeot, unless the complroI-
Ter shall be satisfied that there is good and Ic-
cal defence against the payment Of such notes
See. H. livery bank and banking as-oca-
ton shall redeem its circulating notes as now
tprgEljed by law, bat in case Of NEGLECT or re,
fusal to redeem It's notes on presentation at its
counter, and Of protest therefor, such bank or
banking association If not located within the
city Of milwaukee, or the city Of Madison, shall
not DE liable 10 the holder Of such note for
lam"Gos; Prordl6, It shall wihin fifteen
days after receiving notice from the comptrol-
Ter to pay the same, redeem said notes in the
lawful money Of the United States, with inter
est at the rate Of fifteen per cent per AMMAN !;
! PFo@idni, that The officer or officers Of such