The Smoky Hill and Republican union. [volume] (Junction City, Kan.) 1861-1864, 1861-10-31

certificate which shall specify, hrSt, the name
assumed to distinguish the bank to be estab-
liahed pursuant to this act, and to be used in
all its dealings, which name shall not be that
of anS other bank in this State; second, the
Mace where The business of discount or deposit
of such bank is to be carried on, designating
the particular city, town. village, and county !:
third, the amount Of capital stock Of such bank,
and the number Of shares into which the same
shall be divided; fourth. the name and place
of residence of the shareholder or sharehcld-
ers in such bank, and the number of shares
held by them respectively; fifth, the period at
which such bank shall commence, which GER
tifcate shall De acknowledged and recorded in
the Office Of the register of deeds Of the county
where the Office of such bank may be estab-
lished, and copy thereof shall be Fl led in
the office of the Auditor of State, and. upon
the recording Of such certificate, the person or
persons aforesaid shall become body polite
and corporate, by the name assumed as afore-
said, and by such name shall have power to
contract and be contracted with, sued and be
sued, and shall have all other powers, privi-
leges and immunities incident to corporations,
and applicable to the end of such establish
ments, subject to the provisions and restrictions
of this act.
SEC, II. A copy of the certificate required
by the next preceding sections, duly certified
by the register Of deeds of the county, or by
the Auditor of State, may be used as evidence
in all courts for or against such bank or any
person or persons for or against whom any
such evidence may be necessary, whether on
civil or criminal trial.
Sec. II. Such person or association of per-
sons shall have power to carry on the business
of banking, by discounting bills, rotes and
other evidences of debt by receiving deposits,
by buying and selling gold and silver bullion.
foreign coin, and foreign and inland bills Of
exchange, by loaning money on real or per-
sonal securities, and by exercising such incl
dental powers as may be necessary to carry on
such business; may choose one Of their mum
Der as president, and appoint a cashier and
such other officers as their business may re-
quire, and to remove such president, cashier,
officers and agents at pleasure, and to appoint
others in their places: but no such association
or banker shall commence the business of
banking under this act, until such association
or banker shall have deposited with the Aud
itor of State the securities required by this
act.
SEC IS. The shares in such bank shall be
deemed personal property. and shall be trans
ferabe on the books of the bank in such man
ner as may be agreed upon in the article or
y
ing a stakeholder therein, shall, in proportion
+ his Interest, succeed to all the rights and be
subject to all the liabilities of prior shares
holder CT shareholders no change shall be
made in the articles organizing such bank,
whereby the rights, remedies or securities Of
existing creditors shall be in any way i'm
paired, and any association constituting such
bank shall not be dissolved by the death or
insanity OF any one of the shareholders therein
SEC. IL. If the maker or makers of any such
circulating note or notes, countersigned and
registered as aforesaid shall, Mt any time here
after, on lawful demand, during the usual
hours of business, at the place where such
note or notes is are made payable, fail or
refuse to redeem such note or notes, in the
lawful money Of rhe Uaited States, the holders
of such note or 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 makers of such note or
notes shall not be liable for the expense of 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 al cases, be deemed equivalent to
the regular protest thereof, and such notary
shall, on protesting the same, forthwith for
ward notice of such protest to the Auditor Of
state; the notary making such protest shall
certify in his notice Of protest the number of
notes on which said aging was refused, and de-
scribe 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, together
with such note or notes as aforesaid, shall
forthwith give notice, in writing. to the maker
or makers of such note or notes, to pay the
same; and. if they shall omit to do SO FOR TWEEN.
ty days after such notice, the Auditor shall i'm
thereupon, unless he shall be salts
fed there is a good and legal defense against
the payment of such note or notes, give notice
that all the circulating notes of snch person or
association of persons and eoun.ersigued and
as aforesaid, will be redeemed out
of the trust funds in his hands for that purpose
which notice shall be given by publishing the
same in some newspaper printed in the county
where the business of such bank is established
and in some newspaper printed at the seat of
COVE nment of this State; and the Auditor of
State shall be required to apply the said trust
funds, belonging to the maker or makers of
such protested note or notes, to the payment
Of all circulating notes, whether protested or
not, put in circulation by the maker or makers
Of such protested note or notes, pun SAINT 10 the
provisions OF this act, and to adopt such meas
ures for the payment of such notes as will, in
his opinion, most etfectually prevent loss to
the holder of such notes: and, to this end, the
Auditor Of State may, after the expiration of
said twenty days, and after giving thirty days
notice, by publication III q newspaper printed
At the seat Of government of this State, and in
A daily newspaper printed in the city of New
/ FORK, proceed to sell, at the Merchants Ex-
change, in the City Of NV York, at public
auction, the securities SO pledged, and, out of
he proceeds of such sale shall pay pro rata
md cancel ali bills and notes which have been
ssued and put in circulation by such bank |
inder the provisions of this act; but nothing
n this act contained shall be considered as
implying any pledge on the part of This State,
or the payment of such bills or notes. beyond !
he proper application Of the securities pledged