Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1861-09-20

tai of ut least So .9J0 actually paid in, which shall
remain in such bank banking association capi-
tai and employed in Legitimate banking the place
] where the bank Is located and it is hereby de-
elared that the EoHds deposited with the bank comp
troler shall nor be considered any evidence
Slstence OF capital N any such bank banking
soc.atior, Of the amount extent Of such capi-
tai and it Is hereby made the duty OF the comptreI-
er before issuing any more circulating notes to any
SUCH bank baukiuG association org aIliz ed,
that shall be hereafter organized, except exchange
Tor muated notes, satisfy hnls elf by an exami-
nation under oath officer stockhoder Of such
bank banking ocation that 1t has fully complied
with the provisions this section, and of the next
preceding section OF this act. and for the purposes
OF such examination the ccmptroller, or IN his abb
sGnce the deputy comptroller, j. hereby authorized
to administer oaths PTorfded, that nothing IN this
acl coA tanei hall be so truea as 10 permit any
bank TO issue circulating notes to any greater amount
than its nominal capital.
Section Is. From and after the first day of Decem-
Der next It shall not be lawful for any bank bank
ing association, banker. broker company corpora
t0n, to circulate attempt circulate, BAY
out o. lnouev any bill note or other evidence Of
debt, issued or purporting 70 have been seed by
any han@ banking ociation. company corporation
individual ed residjrg out of this State
less said bill, note evidence of debt shall, for
the last six months preceding such circulating
paying out have been redeemahle in the city of New
ork or Boston IN current oney OF the United
State, at rate OF discount not exceeding three
fourtbs of per and the decision OF the ank
comptroller a to the rate OF such dlcount fai be
final and conclusive. Every bank or banking aSsoci
alton. banker broker, corporation company, Of
feadlng against the provisions o. this section shall
forfeit for each every ofepse the Of hun
dred dollars to be recovered with OF uit in the
me and for the Of any person who shall for
the anne and prosecute such suit to judgment in
any court having cognizaHce thereof
Section 16. Each and every person owning or hold
ing stock in any bank or banking association, who
shall sell transfer or assign his stock or any portion
thereof, in any such bank banking association
shall be held, and remain for the term of ix months
from and after such sale, transfer assignment as
afOre- aid per onally liable to the amount OF stock
a afOce aid old transferred or asSiene by him for
the payment of all the debts and liabilities of such
hg t112.i exist at he ppf
such sale, transfer or assignment
Section Il. This shall take effect and be in
force from and after the first day OF December, 1861.
Section Is. All acts parts of acts conflicting
with, or in any way contravening the provisions Of
th- act, are hereby repealed
Section 10. At the general election to be held on
the Tuesday next succeeding the first Noudsy in No
vember in the year lN6l at all che usual places of
holding elections IN th State, for the election of all
officers required by law then be elected the ques-
ton whether this act shall become law and 90 into
effect, in any be in force, shall be submit
ted to the people, and if the shall be approved
by majority of all the the subject, 1t
hall go il to effect otherwise, it shall go into
effect be in force
Section 20. The votes cast on the subject spccif-
ed in the last preceding section shall be by separate
ballot, and shall have written printed purity /
written and partly printed, on each OF them the
words: --For amendments TO the Banking law.
against Amendments to the Banking Law which |
words shall indicate the vote for or against the ap
proyal OF this act: and the ballots cast shall be
canyassed and returned in the the /
for State Officers required by law be
canyassed, and the Secretary of State shall imInedi-
ately. on the completion of said canvass publish
statement of the result thereof in the official State
paper, and shall communicate the the next /
legislature at The commencement of the session. and
he shall also deliver the state Treasurer certif-
Ell copy thereof, with statement of the result of the
canvass upon the subject Immediately after the com
Pietion Of the canvass
Chapter 242, approved April IS, 1851. Chapter l, /
Extra Session, approved May 25 1861.
Said election to be conducted, the votes canvaSsed
and returns made in accordance with the provisions
OF Chapter of the Revised Statutes of 1865.
Hated SheriI's once, Jefferson, Aug. :, 1861.
IIEBFR SMITH,
Sheriff, JEFF. Co., Wis.