Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1861-08-30
wATERToWN, WIS, FRIDAY, AUGUST 80, 1861. i

tai at SIS 900 actually paid in viii ch shall
remain IN such bank or banking association as eapi-
tai and employed in legitimate banking the place
where the bank IS located and it is hereby de-
elared that the bonds depositt with the bank comp
roller shall not be considered eViden
existence of capital in any such bank banking
sociation, Of the amount Il of such capi-
tai and 1t is hereby mad the duty of the eomprel-
Ter, before issuing any more circulating notes to
such bank or banking association now organized, or
that shalbe hereafter organized except exchans
Tor mUtIdted notes, to satisfy himself by exam-
nation under oath officer CT stakeholder such
bank banking association that it has fully complied
with the provisions of this section and of the next
proceeding section of this act. ard for the purposes
OF such examination the comptroller, in his alb
sence the deputy comptroller, is hereby authorized
to admins oaths Prorided that nothing in this
/ act aimed shall be construed permit an
bank to issue circulating notes any greater
| than its nominal capital.
Section 15. From and after the first day of Decem-
Der next 1t shall not be lawful for any bank bank
ing association, banker, broker company corpora
tlon, to circulate attempt circulate, to pay
out as money, any bill. or other evidence of
debt issued or purporting to have been issued by
any banE king association. company, corporation
individual located residing out of this State un-
less said bill, evidence of debt shall for
the last six months preceding such circulating or
paying out have been redeenablein the city of New
York or Boston in current oney of the United
States, rate of discount not exceeding three
fourths of per cent and the decision of the hank
comptroller as TO the rate of such discount shall be
final and conclusive. Every bank banking aSsoci-
alton. banker or broker, corporation company
Tending against the provisions OF this section shall
forfeit for each and every ofense the one hun
dred dollars to be recovered with costs of ut in the
n tme and tor the use of any person who shall
the same and prosecute such suit TO Judgment in
any court having coguizance- thereof =
Section 16 Each and every person owning or hold
ing stock in any bank or banking association, who
shall SELL transfer assign his or any portion
thereof, in any such bank banking association,
shall be held, and remain for the of six mouths
from and after such sale, transfer or assignments
aore- aid, personally liable to the stock
aforesaid Sold transferred assigned by him
the paymen OF all the debts and liabilities of such
bank or banking association, existing at the time of
such sale, transfer assignment. e-t- .
Section II. This act shall take effect and be in
force from and after the first day of Decem ber
Section 1S. All acts parts of acts conflicting
with, in any way contraveaing the provisions of
this act hereby repealed.
Section 10. At the general election to be held on
the Tuesday next succeeding the first Monday in No.
vember, IN the 1861, at all the places
holding elections in this e for the election of all
officers required by law then be elected the ques
ton whether this act shall become law and go into
effect or in any manner be in force, shall be bmit
ted to the people, and if the shall be approved
by majority OF all the votes cast the subject, it
snail go INTO eheet otherwise 1t shall not go into
effect nor be in force. 4 -
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 or partly
written and partly printed, on each of them the
words: ''For amendm to the Banking law or
''Against Amendments the Banking Law which
words shall indicate the for against the ap-
proval of this act; and the ballots so shall be
eanYassed and returned in the same manner the
votes cast for State Officers are required by law to be
canvassed, and the Secretary of State shall inmedi-
ateiy, on the completion OF said canvass pubSh
statement of the result thereof in the official State
paper and shall comm unicate same to the next
legislature at the comm of the session. and
he shall also deliver to the State Treasurer certif-
ed copy thereof with statement of tire ult OF the
canvass upon the subject imm mediatey after the
pletion of the canvass.
Chapter 242, approved April 49, 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 1853
pated slcr:f's Office, jefferson. Aug. 2, ISL.
HEBER SMITH.
S-erilf, jeff Co., Wis.