The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1861-10-26
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or against whom any eueB evidences may be nee
essary. whether on civil or criminal trial. 81
y Sac. ~ Such person or. association Of persons
shall have power, to carry the business OF
banking. by discounting bills notes, and other
evidences Of debt, by receiving deposits, by buy
Jog and selling gold and silver bullion, foreign
coin and foreign and INLAND bills of exchange, by
loaning money on real or personal securities, and
by exercising such incidental powers as may be
necessary to carry oaosuch business; may choose
one of tn cir number as p esident, and appoint o
cashier and such other officers as their business
may require, and to remove such president, cash
er officers and agents at pleasure. and 90 appoint
others in their places but no such association or
bank er shall commence the business; OF banking
under this act until such association or barker
shall have deposited with the Auditor of State the
securities required by this act. 80. .1L
9 SEC. l3. The shares in such bank shall be
DEF med personal property, and shall be transfer
able on the books of the bank in such manner as
may be reed upon in the article o. gaBizing such
bank, and every person becoming stakeholder
therein shall in proportion to his interest. sue
eeed te,aH the rights and be subject to athe liza
bilities of prior shareholder or shareholder: no
change shah be made in the articles organizing
| such bank whereby the rights, remedies or Sc
curites of existing creditors shall be in any man
ner impaired, and any association constituting
such bank shsll not be dissolved by the death
insanity of any one of the shareholders there
/ in. .-,.s Ell. ms a-Er4 .{ Ia -t.s
! SEC, IA. If the maker or makers Of any such
circulating note notes, countersigned and regis
tered aforesaid, SHALL at any time hereafter on
lawful demand, during the usual hours of bust
ness, at the place where such note or notes is or
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 same to be
protested, for non payment, by notary public
under his official seal; but the maker or maker of
such Note or notes shall not be liable for the ex-
pensSaf so protesting the same. unless, on such
demand and refusal so to redeem the same. he or
they shall refuse to waive protest and notice Of
protest thereon, and such waiver of protest shall.
in all cases, be deemed equivalent to the regular
protest thereof; and such notary shall on pro-
testing the same, forthwith forward notice of such
protest to the Auditor of Stat; the notary max
ing such protest shall certify in his notice of pro-.
test the number of notes on which said paying
was refused, and describe them by 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 notss aforesaid, shall
forthwith give notice in writing to the maker or
makers of such note or notes. to pay the same; and
il they shall omit to do so for twenty DAYS a. ter
such notice. the Auditor shall immediately there
upon, unless he shall be satisfied tn re is good
end legal defense against the payment of such
note notes, give notice that all the cir culating
notes of SUCH person or association of persons
HaDd c6untersigned and registered as aforesaid.
will be redeemed out of the trust funds i'll his
hands for that purpose, which notice shall be
given by publishing the same in some newspape"
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 ap-
ply the said trust funds belonging To the maker
or makers of such protested note notes, to the
payment of all circulating notes, whether pre-
tested or not, put in circulation by the maker
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 rs will
in his opinion. most feetualy prevent loss to
the holder. of such IOts; and tn this end, the
Auditor of State MAJ, after the eXpra ton of sa i'll
twenty days, and after giving thirty days notice
by publication in a newspaper prn ted at the seat
OF government of this State and in daily news
pa per printed in the city of New York. proceed
TO sell, at the Merchants Exchange, in the city OF
New Herk, Mt public apction,' the securities so
pledged and ont of the proceeds of such sale shall
pay pro rata and cancel all bills and notes which
have been issued and put in eli culatiOn by such
bank under the provisions of this act; but moth
ing in this act contained shall be considered rs
implying any pledge on 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 note
put in circulation as money. the payment of which
shall have been demanded and refused, at the
banking house or usual place of business of such
a. sociaton bankers damage for non pawn mt
thereof, from the time of such refusal until the
payment of such evidence of debt, and damages
thereon. ''-'. ~ '''."'I 80 ''.......' - -
SIC. I6. 1t shall not be lawful for the Auditor
of State or his deputy, to eountersignt bills or
notes for any association or banker to amount
in the aggregate exceeding thesecurities at their
value, as before, provided in this act, deposited
with him in trust by such association banker,
or to use or dispose ofsuch seeuri les in any man
ner other than provided for in this act; and any
Auditor of State deputy,Iv who shall violate the
provisions of this section, SHALL upon conviction,
be deemed guilty Of misdemea1or, and be pun
ished by fine not less than five thousand dol
lars, be imprisoned not less than five years in
the States prison, or by both such fine and inn
prisonment.
SEC. II. 1t shall be lawful for any person or
assoc alton of persons organized under the pro-
visions of this act, by his their articles of
citation, TO provide for increase of their capital
stock and of the numbers of the association, from
! time to time, az they may think proper.
SID 1o. Contracts made by any bank or bank
ing associations established by the provisions of
this act. and all notes bills issued aud put in
circulation as money, shall be signed by the pres
ident ant 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 prosecutedi in the corporate name
mentioned in the certificate made and fled as
herein before required -f 80 500
SIC. 19. IL shall be lawful Cor such bank or
banking association 70 purchase, hold and con-
vey real estate, for the following purposes: First
Such as shall tie nece ssarv for its immediate
accommodation in the eonyepient transactions Of
its business. Second-Such as shall be mortgag
gu W ~ III Soou way cI 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-Such as it shall acquire by
sale on execution decree of any court IN its f-
tSor. The said bank shall not purchase. hold or
convey real estate in any other for an y
other purpose whatever. and all eonyeyances 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-
rection of the association, free frcm any claim
thereon in favor Of or against the shareholders
or any person claiming under them.
SEC 20. The president and cashier of every
bank formed pursuant 10 the provisions of this
act, SHALL at all times, keep true and correct
list of the names of all the shareholders of such
bank, with the amount Of stock held by 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 Stat, ON the first Monday in January
and July in each year. aud the stockholders in
each bank shall be individually liable in amour: