, 1863-02-24

name designated IN Its articles OF association
and Tor the period limited therein, not, how
Of this, net; BY such name may make
contracts, sue and be sued, complain
and defend in any court Of Law or equity,
as fully as natural persons, and may
ohs 9s, ssTs sRRlGyef Ho y M c9
tile laws Of the United States or the proYi-
sions Of this act, for the election of directors,
the management Of its property, the regula-
tion Of its affairs, and for the transfer Of its
stock; and shall have power to carry on the
circulating notes in accordance with the pro-
visions Of this act; by discounting bills, notes
and other evidences Of debt; By receiving de-
posits; by buying and selling gold and silver
bullion, foreign coins and bills of exchange;
by loanlpg money on real and personal secu-
rity in the manner specified in their articles
Of association for the purposes authorized By
this act, and By exercising such incidental
powers as shall be necessary to carry on such
business; to choose ono Of their number as
president Of such association, and to appoint
a cashier and such other officers and agents
such president, cashier, officers and agents at
pressure, and appoint others in their place;
nnd their usual business shall be transacted Ia
banking offices located at the places specified
respectively in Its certificate Of association,
mud not. elsewhere.
hGEe L. AAA Ut ~ 1uTLHGr fQACLed, ll1t the
shares Of associations formed under this act
shall be deemed personal property, and shall
be transferable on the books Of the association
in such manner as may be prescribed in the
bylaws or articles Of association; and every
person becoming shareholder by such t1ans.
fer shall, In proportion to his shares, succeed
to all the rights and liabilities Of the prior
holder Of such shares; and no change shall be
hlade in the articles Of association by which
the rights, remedies, or security Of the exist
ing creditors Of the association shall be i'm
paired. For all debts contracted By such as
wise, each shareholder shall be liable to the,
amount, ut their par value, Of the shares held
by him In addition to the amount invested in
such shares.
Sec. Is. And be It further enastcd, That it
shall be lawful for any association formed un-
der this act, by Its articles Of association, to
provide for an increase Of its capital from time
to time as may be deemed expedient, subject
| to tile limitations Of this act; but no such in
crease shall be valid until the increased capi-
| tai shall be paid in and notice theseof shall
| have been Transmitted to the Controller of
the Currency, and his certificate obtained
specifying the amount Of such increase of
capital stock, and that the same has been duly
paid to such association.
SEC. IA. And be it further enacted, That 1t
shall be lawful for any such association to
purchaae, hold, and convey real estate As fol-
First. Such as shall be necessary for its i'm
mediate accommodate in the transaction Of
Second. Such as shall be mortgagcd to it in
good faith BY way Of security for loans made
! by such associatian, or for moneys due
| thereto.
Third Such as shall be conveyed to 1t in
satisfaction Of debts previously contracted In
the course Of its dealings.
Fourth. Such as it shall purchase at sales
| under judgments, DEGREES, or mortgages held
By such association.
Such association shall not purchase or hold
real estate in any other case or for any other
purpose than as specified in this section.
SoE, Is. And be it further enacted, That
every association, after having complied with
tue provisions Of this act preliminary to the
commencement Of banking business under Its
provisions, shall transfer and deliver to the
Treasurer Of the United States any United
leEs than onethird of the capital stock paid
III; which bonds shall be deposited With the
Treasurer Of the United states,. and by him
safely kept in his Office until the same shall
be otherwise disposed OF, in pursuance Of thu
provisions of thfs act.
SEC. 16. And be It further enacted, Tha,
upon the making Of any such transfer and dc
livery, the association making the same shal
be entitled to receive from the Controller 0
the Currency circulating notes Of diferen
| QenoMauhllons, III o1aah, Fe64stefeu auu w
tcrsigned as hereinafter provided, equal Ii
! amount to 90 per ceRtum Of the current mar
ket value Of the United States bonds so trans
terred and delivered, but not exceeding th
par value thereof, If bearing interest at tn
fatt oi ~ Ret ' ~ iese ~ w. ~ i.tnrnst
and ut no time shall the total amount Of sue
notes, issued to any such association, excec
the amount at such time actually paid in {
its capital stock.
+,o .In..,t a,U - a;raniet,no Tntas, -
a ~ ea.Ms anr 4t;a ~ W sha11 ~ rceed ann
III ~ un4S No ls ,S.5 ~ su d ny G ,'i1'onS
H S ouG shai1 ~ o.,,nrt;onn2 - ns.ne,
NV ,,s eIm ~ s1atas " ~ tbe stric+ ~ Goinn
II, ue o15 ~ ny n +hc Tcrritor;rs nccnrinr to r.,
!, rcsasntatire ur.s n non,,1atinn and the remain6i
saii ho aTtEoned h. thn secretarv of II
, TraasrrT ~ p,,snno oecoc3af;nns fnrmrd IN #
= scrsra1 statcs In thc District of Columbi
sna IN thn Ter.r3tor;cs hay;no dno rerari1
na NV r;s4;, ~ ~ hanS;nsr can;ta1 rosonrces ar
,,,s;s,ts e,,n,. s..7os fl;str;ct and Tnrr;t
.;aa Gast0e'7 " '"~' ~''@N0'
a sFc a. And bc II further enacted. Thai.
- ordor tn f1rnis1, snitahfe nntcs far circnlatio
!, tho,iSed tho ana reonircds under {bc dircction
tho aocretarv ~ the Trcasnrv fo cansc nlat
j. - ~ ~ oror,xod r. +i,c hcst manner To- INA
- erninst eonnferfc;f;nr anf fraudulent a1te1
.t3ns ond ~ h,re nrintcd thnrefror,. a,
nhercS ronS, uu eucn NJ nnsnt;tr ~ ctrcnatin" note
| To- h. Hnr Nf1Hff mt n
= III p a1n 4sno ond q ~ az nav hs reon;r
u - 1tVy, 49,, ah thfs ~ IA as:yon1.t;nns
~ t;t'nJp 81 p4ytcn;..e ~ eenn Wbsrb nmtas a1
= e.t1su ~ anS ~ ia tier snc"-
u e1p1Is; a9oa s.a4ss hnnae ea Cd vfth !
u aas,,roS ~ .vu ftts 1rn;tn5 atotsa nrd 3ssnsd
~ dar thn 1-or}s;ons ~ tH;s at Th;ch afntcme
.. ~ i tatn1 ~ ~ ~ ,r.;t+"n o1rrnvc5 g
4 4 noturoe nf fhe Trensnrnr and Reris3er, and
-. ~ ;ronr;nt ~ ~ ~ tho saei of thc T2casnrv:
es she, aen nrnrcss " @ mon tEe'r farc thc nron
~ ~ % ~ 41,e nssociation recciv;ng tha eane to =
- ~ m demand attettefl by ths signatures Of t
-, prcs;5cnt r. V;ca. President and Gnahier. n
~ ~ ~ so;5 rntaa sho11 hnar sncb dociccs n
1e , ue eaT a4haH ato+e,1'on+e M ahs11 h. ;Tssr
snsn osII, 4ba ssorat. nf tha Trasznrer al.
~ ~ 1v. h1 -, ns,a7,,a4;on % IT. d,rect - - ''
VI VI ~ s''1 "a IA hs IT, fu,+bcr nnacted I'll
ne akG: ls nu nG ~ az. ta' ~ Xxx h 11roon-,,d
s Ente11ar u r. ~ Gn~reucg +ar th. NJ,
gS ;,, snnb o;rcn,o,;n nntcs shaiI rena}n
- tns - ~ susu .tae1 a.a 54;root;o1 o-d +ho
nG WI Us ae,,a... eon. ~ ~. 49, 'an-,+;.e- 1
~ Is:,ans ~ 4i;s ant rasncct;nn tfe n15c
at P4osle1ono " tAis ~ ~ ~ r5 ',
ang on inc 4o. os " ts
cE Partment; and for the purpose OF reimne
lngtne eame, ana IT, 9tncr ~ I'll -,
ny nhoeI tn,s act, anu u .e1 " ~ Eaaee -. ~
NJ tne elrc1latlon autnortzu W s!as u act u =!
re- tne nonos neposl'eu .oa security ~ t4E .s ~
ne Such ass9eaall ~ 49, aoss ~ ~ +,
inc enan ssmnanuay ~ 'ns ,St uass ~ ,oa oa
as Ay a4u yat1; % ~ ~ Szo, rrr.1a. +, fay 1sg
rs thc Conel9ueF " ~ tutlsnes, ~ ,a,t ~
nb- money Of inc Unltea SUITES, u:,v pes ;ta'
ity on the amount OF cilcuaSlng no9ss
NC ceiEed BY such assoctatfont ana IN aeu
len thereof the lreasnref Oh tne unlteQ 81
la is hereby authorized 10 reserve ana e
ed, one per centum On the anount Oh
ice bonds SO aeposlteq 4hraon ri e:'en nd III snnn.