, 1866-12-18
NATIONAL BANKS.
Imnortant Amendments Proposed.
WHERE BANKS MUST nEDEEM.
Compound Notes hot to DO Used for
Redemption. :

Hntes III AAAAAeA~
;trsc Aptnoritle1 may Tax bAnks-Fef
R.nr-What sta1eB Snnl& RE- 1
.r1ve tne Withdrawn C1rcu1atlon-ao
,ucrcaxc OF Aggregate Clfcutn11on~
IT, 11ao,., fro,n tho copmiitea On Banking
d Currency, rtputted The foAo"u"
.n.nd an set entitled - An &c. to provide =
eatiornl currency, secured by . pledge OF
f'n1ted States bonds. and 10 psovtde fof mo eaf-
enIaunn md redemption the1eof," and Tor oiher
H. l. <nacsed dv A< .stn0t< c7d HUNS Of Ftp
etuiafirfT Of lie linked States Of -dusetItg IN
aunrsff dsssmbtf6, THAI tic ACT entitled :. An
: 10 & unIsea sases bonds I'D to provide
~ CIRCULATION and redemption. thereof" spprpred |
IRE third, eiEh,sen hEndstd sad ssxty-eoaf. be,
I'd thc eaiue Is hereby amended as follows, VIZ:
III Wv VOW nlyEs aiIA11 NJ oTrlcEnEn.
lhal section nine of said aet hE amended p
.nkinr ops ~ aner ~ enasf3tsG Gisase Ts 9na r.
.strs of eysrJ assoeistion ehalt be nanaeed bT
Id less thaa dvs Directors, one Of whom shs;l ho
ThsS s;SEstaa sas b1 IL
ii absence eJ ,he psestaens nro IeHESre, wniea
eeord ehail be open to the inspection OF any
10. 81 sSe stoekSndsfs, M ana rsanlled q lie
shatl be Produeed at tnetr annn3l
meeting. Every Director shall, during h.s whole
saa A. y ,est, lii e-soussss ef she DsEvsor. shah
baxc resided ID the STATE, Territory. or district u
= hich srcn association is located, Que Jeaf neIt
preceding tnst csscnnn ~ 9nn;c 3aa oe se1r
Office. Each p1reetoI ehait OWE n n1s eMh tlsht,
ut leasf ten tnsses ot I1e Gap1lat stoeE - nsso
when oppofnoed or elected shall take an 0aib TINT
he Will, 60 FAR as tho d1'y devolrcs on him, dill
gently and honestly administer the Affairs Of such
ana a,,s W mo- INV az H. n9nr,.ions o of
Ibis aet aud that he Is tie ooHa ads owner. ID his
own s!Ght, OF me nnnnei o. snasSs ot stoek r.
his nae tic bsoEs f ;le M
ard thal .he eame " n2t nyposcesateo, ~ OF ~ aaJ
way pledged. a tsSatisy sef AM loan of debt,
which oat9; SUBSCRIBE oy nmse!i, ~ aa1S =;
by the ouest Lc1oee Nno1 y tahea~ a24lt
b. fnnedtLei1 tfansmnte9 u ne Nompt;oueI o.
Currency, aad n5 aifn hiea ano pFese1'ea II h's
ALL TEE Pnor1s1oEs or TIE LAW Hr.T aE onssRvEp
That eecton eighteen OF said act ra smcnded BY
Etisiug out all atteF the eEsctta- clause and il!-
npen careful examination Of lie iaete 20 report.
cd, AID ol auy other facts which may cir1e to the
knowledge Of The Comptroller Of the Currency,
SG5eh lie Is y bess5J a1asoIi.ed 10 appopt Tor iht
spss6siasson, Of o,hesrse, il rhai sppsas 10 hira
proyisiops or law sid is prepared and intends ~
frrrce h, nI,.l il lu,yfIT entitled IN Commence.
tts Ersinsss q banking. nc shaii s,ye 70 saea -
trsi ~ ~ snch a.sccin.lon h.s eonoi,ed IN ali
n a nrnvisinn. oT jsw rerIirtf n bfs rnnan;Ir,f
win btfor4 he,pa entitled 10 commeucs the uus:-
,nes ~ hsntIn,v nr,irr The Nntion ii ~ All
-, tbat srrh sssnSjS.fon il ntinrivs1t tn co1,
49, ..fS Nrstrrs. aSent,stualv. AVA l. sh,j hc
ile dnty W oi esid assoeiston 10 caasc saIIcer:ia.
r,tx ~ tn7I her,. the asstcia,ion Il ,r,,ed Ior
s;Ttr ,a,1. rrT. sf,rr III. Is.Nir.s thr1nv
ssd = n1 nswsafes y nete p9e!zEeu, sae ess
rstr1 ~ fl,c EonnIrol1cr Of tht Currency. Arh
ssnevsr - ie tnnnt.oIer Of tbe En5rrncv shsii
~, asioarc ~, .h,If wa rs,sor ~ b,snx, s,t
5a,v sah i.t;o, T. ~ esrr. ~ ~ *
q 81 e. ~ q "
nlfsd hv IT, Dt,ceiots Of cncers. ia s,o} sson af
~ ??,o,.i t:n,1crerncs ~ 1T, the nf.srt,rs
t.rc su1 jn,s',;on.I. - srn.1T x;nis.J a. 1r'
,nr. .:,ie - ~ ~ ~ ~? ,in, ~ -" -,
iS,o ~. ~ ,hn 40, ;sio1. " ~ is T. I.aiI ~,
H. dut9 e1 =, Il the e Goaon5iie1 Of IT, :unrney 70
+sa =, " crs1,,,, o1fon ~ i.s asoi-s .ra 55,nn
stist,eta- -sn,f ~ Tho r,nnr,.-.,ifar IT,, .rSt
ne;.sit II mt r,r-rin,. m r.. ,,rnn-r Sn.;n...
II h.nStur1 ar has ssn,isre1i fsls.s AZ 1rtndniens
tenn,1s ~ ~ ,,s. ,s furSs haye be,n ~ r,sann1iea
~ 'bsi !, h. ,inisttd he nr.ytsans ~ * h.
NAV. wiih lie nppsoyai of tht Secretary o. the
Trea.ury, aYpo,nt : receiver 10 cio.e ap Its bus.
~ antiy ia Ike cosft provided IL. .tc;inn dfly oi
X ,tt,nnsI cnr1rrcv scf Ana ,,u sneb snn;.
cst,on thc bank nav relieve itseli b. disDroySrc
tne ni.ees,ions on whisA such Teeriyer Va. 40.
no1nitd.
sAtixCx 11AuI1111Es or ASy STOCKHOLDERS 70 lis
EANk.
1Ea1 fGCi1T0 tNEASS-0lUc be SIQtTNGN HE
striking ont all alter The euactin: cIsu.c. aad
inserting I'M lieu ,hescor the following: That Tue
Total iabilitcs TO auy nniioEAl tanSing assocla-
@ ps stou to III ileya,nc ia the lasiiss q say asn 1T Or
company The liabilities OF Tie sevc.1l members
thereof, tha1s At no it,ac exceed onetsnh p.st OF
the pra6pnt Of the capital stock Of such association
actually paid In, uulsts<euch liability eols:st Of
bdAa fd< btA ct c1charSc Or Irafta payable at au-
e1hsr plsss i6sn Mhsse II t. d[awn aua dram
Of oufi.ess rsper discounted for the ccdo5scr 2ot
ac, ually owned By the -perscu, dtm, culnpanf or
corporation for whom !: IL DISCOUNTED: sticludinR
son. n!n. companJ Or eospoEs1ion7 except bal.
lion; snd association shall Any css'aesie.
a. 4 tattnga nspl. And n case Of sny violation
h ssssipP The rrssiasn. spa Ssshi:s sn u
TOR ary lot. Incurred By the ASSOCIATION On the
cess Of Liability t.c aDonnt q chc zenith OF
lhe capital Etock a. Aforesaid AID the association
lars fer every ease IN which The liability oE any
Ee1ton+ nIp, toGrany OF corporation. u Afore
eald. y IN f4esss o. epe-tehla pail OF thc asaoun
nn n FaiS r. rasaxa.S s = H. W. ~ = ~, sae i;
saws f, aEa usnesnsHn " NC lfeasas5, ano Mst
ptnaHa 1os my ctloueate' receipt Or ot5Sf ,oonsa
cn ,seaea a. aIoseea1d. o. ios aasesnsmGs 20
! ae4uhE " tect.vH. 1cposlts - saIln67 "an1'
! At2h " AAtALAsI fHA1 AA1 4E CHARGED.
| 1at esSt!ua tnnS Ce omeNaco ~ ttflAh- oa
a. aissF M 'ae en5ssane t's1se and taerlns in !,et
| Ihefeo1 tue !ojlo":.g: That ererT ASSOCIATION
MAI eaEe ieceiye, i<terve ND ehasce, CD all
loAu ~ ditcoupt made. or upon any nosa, tll 0
e1elanse, or ether ty.denccs OF debt interest a
ihr saie slowed Ly the laws Of The State Of 7erd
tory wLese the lark L. located, AID no pao1e; M,
wien no rate u d1cd by The laws Of The state o
chaire rate not e1eeedin. seven ptf ccu.un,
and such Interest may be taken IN advaEce, rex
o,npg The days foE which The nosc, biz Or orhe
taklnv, reeti.lpE, serving or chareiur ra;s q
| intes I'll :1eutct ihan a. MpresaId khall fc bel,
nd asjsdSsd .osfs'ta5s Or sbe entt!e deot: A.
Teen pai tie person Or ne on. m r.r.- ~
or thsir LEGAL rcpretcptsiiTrr. ni.r reTnser harl
%a4e g stea e e.a ,ds5 ssn .. 50
! o. 1ecElTine sks sane: ITorieed Thai such ac
| AcE IL Commenced within one scsr T:or m
| sr,d : hut ;:.e purchaee, disconnt CT ri ri
I ~ n 'lnrn ~ htN Of excLaEr. nayoi,Ks n
snotbcS pisrc ssau she pisce oi such n6fcnaae
AZ SetanTr for .!hI G,sis. IN a5t.ia ~ ~, H.
.r,rsts * iii nor he c,sI 80 t.ne ~ rcc.is
tuC q eIsxtsr rate VI inietc.I ~
wuynr n.1ws xrsr n,n-
| .,,.,a.- 49,. - -. a.. = 4.s. Aiota.
| 1nf1 semen enrsty Two e srasHted by t.fls}n'
4nt @ q! ansr ie M sn3etilg c!a1.e. an Inserting Il
orcani1ed y Assional bank IN any. othcs plsc,
.han ~ et e,nes Han:ed "a sns bEsSsdInS ..etioi
e1,es n.r n ,ho1 ndn5 eo5 Of paSxs n az
| pats hn9 ne Ns1ionA hank g eelcc.ed sa1n bt
ap1T5psee y t9e tomptiq;.es OF 1lc Lurte1r5. auG
eotseaL 1hc GomnfrolIef ot tie Ccr9sncJ shal
gt'e pubic notes Of each Sa;ioua! Bank 50 te!ee.
rsspses.s ss ,4slf eilsala1e
| ua!ea Z, f1ea Danx faen NsGohal bahk so ectert
Gnrmt1,fiep " .te fg-- sonniy fe.nrns 70 e.
| - ~ - ..SAct Ns Asl1es Q! ne
StPsttse ose s.iudAs Aui ACn IL GeA as redeem
~ aEs1t@ 1t ssaa pHutrH tHs e1oe a. part o.
~ ~ assu.n. - - - y. a1S n!ceu per esntnu
7
LII, ~ ~ 10y ~ nos olsshiea IN enY OF ths
- S,ss t - -. 49,, H3 ~ seSsa ~ non1y aot Deisns
~ ~ S.s w n. ~ .sE1oaA hAAH 20 teieet
! 49, 'ss tsa.e.a...H ooles y! a9sb astocaa
| Hou- IauH Sas = o!cpaHea "a nrS o.
! n IN. cffv 81 New Tnrf shsII s.tsr, E.,t,vE
! E.nE or hsnra IN The rftv ~ w. r.-t -sI.t