The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1861-11-02

business, shall notify the State Auditor Of such
Intention, then, and in ouch case, it shall be com
petent for said bank or bankers to redeem and
| deposit with the Auditor of State, from time tn
time any mount OF their circulating notes which
may have beer issued to said association, bank or
bankers, in sums, however, not less than one
thousand dollars at any one time, and to receive
| therefor ana withdraw equal amount of seeur1
ties by them deposited with the Auditor of State
but no bank shall continue TO transact any busl-
ness whatever, further thaHF what may be required
TO close up after their capital stock securities or
/ circulation shall have been reduced to less than
twenty-five thousand dollars, nor in any case af-
ter two years from the date of said notice of in
tentiOn to relinquish and close up their banking
business, as aforesaid; and whenever the retiring
/ bank bankers shall desire to withdraw all the
securities heretofore lOdged with the Auditor of
State, they may do so, by producing and filing
with the Auditor of State certificate of deposit
to his credit in such bank as he shall approve Of
AN equal amount with the circulating Eotes of
such bank or hanks then remaining unredeemed.
and the Auditor of State, on being satisfied of
such deposits, and of the sufcieney thereof shall
give up all the remaining securities heretofore de-
| posted by such bank Or bankers for the redemp-
ton, II the circulating notes issued PASS 1881
h SEC "a, Such banking association or banker,
after having com piled with the provisions of the
last preceding section, shall give notice, for two
WEAR in some newspaper printed in the county
| where such bank shall have been located, and in
paper printed at the seat of government of this
/
banking association or banker must represent
EeL1 at the Audit or of States Office, within
years from the date of such notice, or that the
| funds deposited for the redemption of the notes
will be given up to the banking association or
ba nker: and, on receiving sat isfactOry proof of
the giving of such notice for the time aforesaid,
the Auditor of State shall surrender to the order
| of such banking ASSOCIATION or banker, any
curities which he nay hold for the payment of
| any unredeetned notes of the said banking asse-
citation or bankers lr..t- H.. F# z-s-
SEC. 25. Any banking association or banker
wishing to Withdraw any of the securities by
them deposited with the Auditor of State, may
do so by depositing an equal amount of the cir
cuiating notes which may have been issued to
said association banker by the Auditor of State;
in sums of not less than one thousand dollars;
Prouided, That the amount of securities tn Is with
drawn by deposits of slid circulating notes. shall
not reduce the amo unit of stock securities remain
ing in the hands of the Auditor of State, to less
than twenty five thousand dollars.
SEC. 26. The securities to be deposited wiihthe
! Auditor of State in trust, by any association or
banker, shall be held by him exclusively for the
redemption of the hi lis or notes of such bank
put IN circulation as money, until the same are
paid and returned to the Auditor Of State as pro-
| vided in this act; but the Auditor of State may
assign said securities to said association or bank
er transferring the same. upon receiving therefor
equivalent securities, or IN equivalent amount in
circulating notes issued by such bank as provid-
ed in section twenty five Of this act. ' '5l-
i SEC. 27. All circulating notes of banks or bank
ing associations, returned to the Auditor of State
shall be destroyed by him in presence of the Coy
ernor and an authorized officer of the bank after
he shall have made record of the same, which
shall specify the number of each note, it's date
and. by whom it was couhtersgned in the books
to be kept by himself for registering circulating
notes.
SEC. % It shall be the duty of the Auditor OF
State to receive mutilated circulating notes issued
by him. and after making record of them, theft
denomination and amount, to deliver. in lieu
ulafi I'm he
SEC %. The bills or notes of any bank or
banking association shall De- ut all times, reeeiv
ed by the same in payment of all debts [due] to
such bank or banking association. 81
SEC. 80. If the declared capital of any banking
association shall be reduced for any purpose what
ever, while any debts of the association remain
unsatsfied, divi.end or profits in the shares OF
the capital stock of the association shall thereaf
ter be made, Until the deficit of the capital shall
be made good, either by subscription of the share
holders or out of the subsequent aecruing prof.
It's of the association and, If it shall appear that
any such dividends have been made it shall be
the duty of any Judge of the District Court of the
feounty n which said bank is located, on applica
ton of any person in interest, to make the neces
sary ogaers and DEGREES for the closing of the af
fairs of the assaciy ton, and distribute its prop
erty and effects among its creditofs and share
holders J 20 s. ~ -7- 5t..s . '''fs BE-"
SEC 81. The officers or agents Of any banking
association 'or banker, who shall pay out to be
put In circulation money in this State, any ball
the similitude of "a bank note, knowing the same
to have teen issued otherwise than by the author
ty of this or any other State of the nted States
or the Oongrees Of-the U niteanShEtes, of the
Brftsh Possessions, shall, for eueh offense. upon
keenyiction thereof, be adjudged guilty of misde
meanor, and shall be punished by fine of not less
than one hundred dollars, or by not less tn an
three nor more than twelve months Imprisonment
or both by fine and Imprisonment -sa54-.. j
H. SEC 80 Such bank or banking association may
demand, and receive, for loans on real and per
sonal security, or for notes, bills or other eri
fdences of detfs discounted, such rates Of intefes
as may be agreed upon by the PARTIES, subject
however, to general laws regulating and fixing
the rate Of interest-and it shall be lawful to re
ceive the interest in advance according to the or
Urinary usage of banking iBstitutions-aRd IN
general do all things and have all the privilege:
incident to banking associations on corporations
SEC. So Every bank OF, banking association
shall, on the first Monday of January, April, Ju
~ and October, in every year. after having com
meneed the business of banking provided il
this act. make and transmit to the Auditor of Stat
ca report, which shall be made oath of the pres
ident and shier, and shall contain true state
tent of the following items, on the mornings
; che first Monday Of January. April, July ant
40csober, before any business of thatsday: dLoan
and discounts; over drafts due from banks; due
from directors of said banks; real estate; specie
cash items; stock and promisscry notes; bills o
e solvent banks; bills of suspended banks; loss
f expense accouGts capital; circuation; amour
due to depositors on demand; amount due
5 not included under either Of the abov'
= heads Aud it shall be the duty OF the Audito
f Of State to eolIate and publ h said report
in some newspaper printed at the seat of govern
: ment and in the county in which said bank o
= banks are located, and the expense thereof shall
r be betrayed by the banks; and. if any bank shall
fail to furnish to the Auditor its quarterly repor
in time for such publication, or shall fail to pa
the expenses incurred in the publication of its re
r port. when they shall be demanded By him, j
Shall forfeit and pay the Auditor of State the SUI
q Of one hundred dollars, 70 be applied by him L
S the expense of publishing the quarterly reports
and the Auditor of State Is authorized 10 collec
said Forfeiture IN his upon his application
: to any court of competent jurisdictions, IN tn
[ county where such delinquent bank may be 10
d Gated. The Auditor OF State shall, also, trans
. nit, annually. to the Legislature, ut the com
men Gem ent of its session, condensed SUMMARY
f of all the items reported TO him by all the banks
} which summary. verified by his oath. shall con
tain true aud correct statement of the condition
OF all the banks in the State at the tlnseIOf tn
making of their last rel port. 17r . Tt M q
: SIC. "a. Every bank and banking association
formed under the provisions of this act. shall an