Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1863-06-11
a its possession at the time Of making The sta,s,

~
OF bankers, specifying the amounts so ON deposit
~ the cities Of Boston, Provdor ce, Nov York.
fhiiadelphia, Baltimore, Cincinnati, Chicago, St.
Louis, and New Orleans
Tenthly. The amount then on hand Of hills or
notes issued by other banks and banking associa.
Eleventhly. The amount of balances due from
other banks, bankers, and banking associations
| aforesaid. " N'eA'" '
Twelfthly The amount on hand of bills.
ponds, stocks, notes, and other evidences of debts
discounted or purchased by the association.
specifying pa ticularly tho amount of susnendei
debt, the amount considered bad, the amount con.
sidered doubtful, and the amount in suit or juds-
ment
Thirteenthly. The value of the real and per.
sonal property held for the convenience OF the
soclation, specifying the amount Of each.
Fourteenthly. The amount Of real estate
taken in payment of debts due to the associa-
Fifteenthly. The amount Of the undivided
profits Of the association.
Sixteenthly. The total amount Of the liability
to the association by the directors thereof collect
lively, specifying the gross amount Of such liabili-
ties as principal doctors, and the gross amount Of
indorsers or sureties.
The statement thus made shall forthwith be
transmitted to the Comptroller of the Currency.
Sec. 40, And be IL further enacted, That every
association may take, reserve, receive, and charge
on any loan or discount made, or upon any note,
bill of exchange, or other evidence of debt, such
rate of interest discount as is for the time the
established rate Of interest for delay in the pay
ment OF money, in the absence of contract between
the parties, by the laws of the several States in
which the associations are respectively located,
and no more: Provided, hoaoeper, That interest
may be reserved or taken in advance at the time
OF making the loan or discount, according to the
usual rules of banking and the knowingly TAX.
ing, reserving, or charging Of rate Of interest
greater than that allowed by this section shall be
held and adjudged forfeiture of the debt or
demand on which the same is taken, reserved,
or charged but the purphasp digcounf- mr. saIa
OF a bill of exchange drawn, on actually exist
ing values, and payable at another place than
the place OF such purchase, discount, or sale, at
the current discount or premium, shah not be
considered as taking, reserving, or charging in
terest.
Sec. A. And be 1t further enacted, That the total
liabilities OF any person. or Of any company or firm
Qneluding in the liabilities of q company or firm
the liabilities of the several members thereby to
any association, including liabilities as aceeptor of
State where the association is located shall at no
time exceed one-third; exclusive of liabilities as
aeceptor, one-ffth and exclusive Of liabilities on
such bills of exchange tenth part of the amount
OF the capital stock OF such association actually
paid in.
Sec As. And be 1t further enacted, That no as
soelatlon SHALL at any time, pay out on loans
discounts, or in purchasing drafts bills of ex-
change, or in payment Of deposits nor shall it in
any other mode, put in circulation the notes Of
any bank OF banking association, which notes
shall not at any such time be receivable, at par,
citation SO paying out or circulating such notes
nor shall 1t knowingly pay out or put in circula-
ton any notes issued by any bank or banking az
ISOLATION which at the time of such paying out or
putting in circulation is not redeeming its cir
States. " A'V'S " 'Ae oN''e~
Sec. 40, Afad be 10 Jtat,,o, eraetad That all
transfer OF the notes. bonds, bills ofexchange ana
other evidences of debt owing to any association,
or OF deposits to its credit all assignments OF
mortgages, suretles on real estate or judgments
dprrppg n cofy h,,l-
lion, or other valuable thing for its use or for the
use Of any of its shareholders or creditors and
all payments of money to either, made after the
commission of an act of insolvency, or in con-
temptation thereof, with view to prevent the
application of its assets in the manner pre-
scribed by this act, with a view TO the prefer
| ence Of one creditor to another, except in pay
ment OF its circulating notes. shall be utterly null
| and void.
| Sec. so. And be Al further enacted That if the
directors OF any association shall knowingly vio-
| late, or knowingly permit any of the officers,
agents, servants of the association to violate,
any OF the provisions Of this act, all the rights,
| privileges, and franchises of the association de.
rived from this act shall be thereby forfeited such
violation shall, however, BE determined and adj
Judged by proper circuit, district, or territorial
court OF the United States before the association
snaii De declared dissolved T; and in cases of such
Vocation, every director who participated in or as
scented to the same shall be held liable in his per-
sonal and individual capacity for all damages
which the association, its shareholders, or any
other person, shall have sustained in consequence
| of such violation.
Sec. 81. And be ii further enacted, That thu
Comptroller Of the Currency, with the approba-
ton of the Secretary of the Treasury, often as
shall be deemed necessary proper, shall appoint
suitable person or persons to make an examina-
ton of the affairs OF every banking association,
which person shall not be director or other Off.
Ger in any association whose affairs he shall be APP
| pointed to examine, and who shall have power 20
| make q thorough examination into all the affairs
/ OF the association, and, dong TO eXamlQe
any of the officers and agents thereof ON oath, and
shall make full and detailed report of the con-
dition of the association to the Comptroller and
the association shall not be subject to any other
visitorial powers than such authorized by
this aety except such as are vested in the several
| courts of law and chancery. And every person
appointed to make such examination shall receive
for his services at the rate of five dollars for each
day by him employed in such examination and
| two dollars for every twenty-five miles he shall
necessarily travel in the performance of his duty,
which shall be paid by the association by him ex-
amined.
Sec. So And be ii further enacted That every
president, director cashier, teller, clerk agent
of any association, who shall embezzle, abstract,
or willfully misapply any Of the moneys, funds,
credits of the association, or SHALL without au-
thorty from the directors, issue put in circula
ton any Of the notes o. III. . aasoaiation, or shall
without such authority, issue or put forth ane
certihcate OF deposit, draw any order or bill of
change, make any acceptance, assign any note,
bond, draft, bill Of exchange, mortgage, Judgment
or decree, or shall make any false entry in any
book, report, statement of the association, with
intent, in either case TO injure defraud any other
company body-pohtic or corporate, any indi-
vidual person, or to deceive any officer OF agent
| appointed to examine the affairs of any such as
location, shall be deemed guilty of misdemeanor,
| and upon conviction thereof shall be punished by
imprisonment not less than FIVE nor more than ten
| years.
| Sec. %. And be ii further enacted, That the
/ president and cashier of every such association
shall cause to be kept at all times full and COR
| rect list OF the names and residences of all the
shareholders in the association in the office where
its business is transacted and such list shall be
| subject to the inspection of all the shareholders
| and creditors Of the association during business
hours Of each day in which business may be legally
transacted and copy Of such list, verified BY the
oath Of such president cashier, SHALL at the be-
ginning Of every year. be transmitted to the Comp
troller Of the Currency, commencing on the first
day OF the first quarter after the organization of
the association.
Sec. "a. And be further enacted, That the Sec.
Rotary OF the Treasury is hereby authorized when.
ever, in his judgment, the public interests will be
promoted thereby, to employ any of such associa-
tons doing business under this act as deposta-
ries Of the public moneys, except receipts from
customs
Sec. IS. And be IL further enacted, That all suits
and proceedings arising out Of the provisions of
this act, in which the United States or its officers
or agents shall be parties, shall be conducted by
the district attorneys Of the several
the direction and supervision of the Solicitor Of the
Treasury.
Sec. Sc. Ind be IL further enacted That every