Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1861-10-18
General Election Notice.
FOR JEFFERSON COUNTY.


An Attorney General in tn place of James II Howe.
Bank Comptroller in the place of Guysbert Van
Steenwyck.
State Superintendent in the place of Josiah l..
Pickard
State Prison Commissioner in the place of Hans C
Heg,
Whose several terms of Office will expire the 3lst
day of December, 1861.
Member of Assembly for the Assembly Districts
comprising
First. The towns of Ixonia and Watertown and the
city of Waterfowl.
Second The of Milford, Waterloo Lake Mills,
Oakland and Aztalan. s--
Third. The towns of Hebron. Jefferson, sumner,
Koshkonong and Cold Spring.
Fourth. The towns of Pennington, Concord, sulu
van and Palmyra, in the said county of Jefferson.
One County Superint endent of Schools.
One Supervisor in each Assembly District in said
county and one Supervisor for the county at large
At the same election the question will be taken upon
the approval by the people of the amendments pro-
posed to the General Banking Law by chapter242 of
the General Laws of 1861, amended by chapter of
the General Laws of the Session of 1861, fol-
lows:
CHAPTER 242.
As amended by Chapter l. Eetra Session.
AN ACT to amend the General Banking Law, and the
several acts amendatory thereof.
The peaple Of the State of Wisconsin, represented in
Senate and Assembly, do enact as toEorS:
Section l. Section % of chapter H. of the Revised
Statutes, with the thereunto belonging amendment
see chapter 90 of the General Laws of 1859 is here
by amended follows by striking out the following
words Said stocks to be valued at to be
tmated and governed by the average rate at which
said stocks have been sold in the city of New York
within the next six months preceding the time when
such stocks may be left deposit with the Comptro
ler BY striking out the words eqnal to - and in
serting alter the words ''not exceeding. the words
I'm value" BY striking out the following words.
shut such public stocks shall in all cases be- or he
made to be, equal to stock producing six per cent
per annum and it shall not be lawful for the Bank
Comptroller to take such stock at above its par
value, nor above its current market value IN the CITY
of New York, at the time of deposit By such person
association of PERSONS aud by inserting in eI,
thereof the following and it shall lawful for the
Bank Comptroller to issue for public stocks which
have been ranging at above par during last six
months, and to the time of depo in the New York
market circulating notes up to the par value of said
stocks but the Comptroller shall not issue for public
stocks ranging below par in said market ore circuIa
ton than 80 per cent of the market value of
said stocks at the time of deposit more than 90
cent. of the market value during the last
six months and fer such stocks during the last s1
months have been at and above well as below mar
the Comptroller shall issue more than 90 per
of the average value during the last six months nor
In any event more than 90 per cent its market yalu
on the day of deposit, nor more than ninety per cent
OF the value of such stocks >; said SOC
ton shall henceforth read follows ssWhsneyer
hereafter any person or association of persons
for the purpose of banking under the provisions of this
chapter shall duly assign and transfer in trust to the
treasurer of this State any portion of the
issued to be issued by the United States or apv STATE
stocks which full interest is annually paid sncb
person or association of persons shall be entitod ~
receive from the Bank Comptroller amount of sucb
circulating notes of different denominations Registered
and countersigned, and not exceeding in value the
amount of public stocks assigned and tran sfarred a,
aforesaid and it shall be lawful for the Rank Camn
troller to issue for public stocks which have been
ranging at or above par during the last six monts.
and up to the time of deposit in the New ork
circulating notes to the par value said stocks Int
the Comptroller shall issue public stocks
ing below par in said market, more circulation tb,n
80 per cent of the current market value of said stocks
at the time of deposit more than 90 per conf If
the average market value during the last six months
md fOrST oh sfOal-s 1,7-ir,
been at and above as well as below par, the Comptro
Ter shall not issue than 90 per cent of the
age value during the last six MONTHS in any event
more than 80 cent. of market value on the day
of deposit than 90 per cent of the par yaJ1
of such stocks PrGrided, that if in the opinion of
the Bank Comptroller, together with the Governor
and the Secretary of State any stocks offered sba he
deemed insecure they shall not be received as sucb
securities under the provisions of this act And ~
rtded further that from and after the day of De-
cember, 1861 the Bank Comptroller shall not receiys
security for circulating Bank Notes any other pub
and the United States.
Section 2 Any public stocks described in the pre-
ceang section, and issued rate of interest les,
IMAM nye per cent per annum to be receivable by the
Bank Comptroller shall be made be equal to stocks
producing five per cent. per annum.
Section 8. Section 40 of chapter II of the Revised
Statutes, Is hereby amended by inserting between the
words ''located" and 'o, in the 10Th line of said
seeon ee HV 6,n lo s sne YuGGe a.
organize in this State, and all banks and banking
sociations that shall be organized before the " day
of December, 1861, except such banks and banking
associations may hereafter located in the
cities of Milwaukee and Madison, shall, or before
said first day of December next, appoint agent who
shall keep Office in the city of Milwaukee, or in the
city of Madison, for the redemption of circulating
notes issued by such bank banking association
which shall be presented to such agent for payment or
redemption.
Section 5. The appointment of Such agent shall be
made in writing and such written appon tent shall
be delivered to the Bank Comptroller before said
first day of December next who shall file the same in
his Office If any bank banking association shall
O urh tSrtbi
above mentioned the Bank Comptro shall appoint
such agent for such bank or banking association.
Section 6. The Bank Comptroller shall, immediate
ly after said first day of December next during such
time he may deem advisable publish list of such
agents in one daily newspaper published in the city OF
Madison, and in daily newspaper published in
city of Milwaukee, the expense whereof shall be equal
ly divided among the several banks banking
atoms published. and be paid by them to the Comm
troer demand, under penalty of forfeiture of one
hundred dollars TO be collected and applied as pro-
yded in respect to the forfeiture named in section 1s
chapter II, of the Revised Statutes
Section I. Every bank banking association here
after organized shall before receiving any circulating
notes from the Bank Comptroller appoint agent for
the purposes OF this act and such appointment shall
be Immediately published in the manner aforesaid at
the expense of such bank banking association to be
collected in the manner above provided.
Section 8. Appointments of agents made in pursu-
ance of this act, may be revoked and appoint
ments of agents made from time to time by delivering
such revocation and appointment to the Bank Comp
troller, who shall cause the same to be published
before provided.
u L
banks banking associations authorized by this act
to appoint agent together for raising
joint fund be placed in the hands of their common
agent for the redemption of their circulating notes in
the city CT Milwaukee Madison and also the crcu
lating notes of other banks in such manner and I'M
der such regulations as may be agreed upou and to
employ such agents and clerks they may deem ne
cessary to carry on the business of such common
agency but nothing in this section contained shall
authorize the redemption purchase by such agency
of any circulating notes rate of discount greater
than is herein provided fer, relieve such banks
from any duty or liability required or imposed by this
act.
Section 10. Every such bank banking assoca-
ton in this State except such banks banking
Citations or NAV hereafter locate in the
cities of Milwaukee and Madison, shall redsem and
pay on demand, in the lawful money of the United
States all circulating notes issued by such banks
banking associations presented for redemption at the
Office of the agent of such bank banking assoca-
ton during the usual hours of the business of bank
ers, between the hours of ten and three o'clock at
rate of discount not exceeding three fourths of
per cent.
Section II. Every bank or banking association
whose agent shall neglect refuse to redeem its
notes on demand aforesaid, shall, proof being
made to the bank comptroller of such neglect or
fusal by the affidavit Eof the person who presented
said notes for redemption payment, and deposi
ting in his office the notes presented be subject
the same penalties and be proceeded against in the
same manner is provided by law for cases
where the circulating notes o. any bank banking
association protested for payment. unless the
comptroller shall be satisfied that there is good and
legal defence against the payment OF such no les.
Section II. Every bank and banking association
shall redeem its circulating notes provided by
law. but in of neglect refusal to redeem its
notes presentation at its counter, and of protest
therefor such bank banking association if not To-
Gated within the city of Milwaukee the city of
Madison shall not be liable to the holder of such
notes for damages: Prorided it shall, within fifteen
days after receiving notice from the comptroller
pay the same redeem said notes in the lawful money
of the United States. with interest at the of Is
per cent per aunum Prorided that the officer or of
fcers of such pank o. banking association neglect
ing or refusing to redeem its notes on demand NAV
aOT IL