The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1869-01-22

Il
atty of 500 for each day after the five
days that such report is delayed be-
yond that time, and the Comptroller
shall publish an abstract of said re-
ports in a newspaper to be designated
by him in the City of Washington,
and the separate report of each asso
citation as established; or if there be
no newspaper in such place, then a
newspaper published in the nearest
place thereto, at the expense of the
association making such report.
Sec. 2. A1sd be at further enacted,
That every National Banking Asso-
citation, selected as a depository of
public moneys under the provisions
of section forty five of the National
Currency Act, shall deposit United
States bonds with the Treasurer of
the United States as security for such
deposit, and whenever the public
moneys deposited in such association
shall exceed so per cent. of the par
value of the bonds so held by the
Treasurer as security, it shall be the
duty of the Treasurer, by draft or
otherwise, to reduce the amount of
such deposit to a sum not exceeding
80 per cent. Of the bonds deposited as
herein specified. IF any officer or
agent of any association designated
as a depository of public moneys,
shall pay or offer to pay any money
or other valuable consideration,
directly or Indirectly, for the
purpose Of obtaining or retaining de-
posits of public moneys; or If any Off :
Ger, as ageut of the Government. shall
receive any money or other valuable
consideration, directly or indirectly,
for making such deposit of public
moneys, such officer or agent shall be
| deemed guilty of misdemeanor, and
| on conv:ction thereof shall be punish
ed by fine Of not less than 81, 900, or
imprisonment for less than one year
nor more than five years, or both, In
| the discretion of the court.
SEC. 3 That the Limitation pre-
scribed in Section % of said act,
which restricts the liability Of indi-
vidual companies, corporations or
| firms for money borrowed by the Ma
honal Banking Associations il hereby
applicable to all deposits made by
such associations with private bank
ers or brokers or banking associations
not organized under the national cur
rency act.
SEC. 4. That Section "a Of the said
act be so amended as to provide that
within ninety days from the date OF
the notice served on the ComptrOller
of the Currency by any National
| Banking Association that its share
holders have voted ID go into liquida-
tion, "a provided by said section, anil
| nj ,hal 70 ~
Treasurer of the United States the
amount Of its outstanding notes In
lawful money of the United States
and take up the bonds which said
association has on deposit with the
Treasurer for the security of its cir
culatIDg notes, which bonds shall be
assigned to the bank In the manner
specified In the nineteenth section oil
thts act, In default of which tho
Comptroller Of tho Currency shall
sell said bonds to the highest
bidder at public auction, in the
city of New York, and from tho
proceeds thereof shall pay over tC
the Treasurer of the United States in
lawful money an amount equal to thS
outstanding seirculatioh of such asso-
citation, aud shall pay over any sur
plus remaining to the officers of tht
association, and any association which
has heretofore gone into liquidation
under the provisions of this section
10 which this is an amendment, shall
pay over to the Treasurer Lawful
money equal in amount to the out
standing circulation within thirt,
days from the date of tho passage O
the act, 10 default Of which its bond
shall be sold as above provided. ant
from that time the outstanding note
shall be redeemed at the Treasury o
the United States, and the. said asso
citation and the share holders thereo
shall be discharged from all liabiIit,
therefor; ProUidtd, That any associa
ton winding up its affairs for the pur
I pose of consolidation with anothe
bank, shall not be compelled to pa
to the Treasurer of the United State
| the amount of its outstanding circu
I. lation in lawful money. ner shall il
bonds be sold as provided.
| Sec. 5. That there shall be allowe,
q to the Receivers of the Nationa
a Banking Associations appointed i
accordance with the provisions of th
? National Currency Act. In full CON
I pensation for their service, a salary q
i 81 800 per annum, and in additio
thereto a commission Of three pc
centum upon the first 800 900;
f commission of one per centum on a
O sums above 100000 and not exceed
ing 100000; and a commission {
! one half per eentum on all sums owe
: $500, 900 that may be collected, whic
salary and commission shall be pal
| by the Comptroller of the Currenc
: out of any moneys realized from th
q assets ofthe bank or In the hands of tn
Receiver: Provided, that the paymen
/ of half of the commission may be n
. served in the discretion OF the Comp
4 trOller until the affairs Of the ban
! are finally closed; and all receiver
appointed as aforesaid shall be cor
4 sidered officers or agents Of the Gov
\ ernment, and have the right to brin
! suits in the United States Courts; an
: the. Judge OF the United States COu
for the district In which such suit
!. are brought shall fix the fees an
e compensation to be allowed to the a
II torneys for such receiver, having du
.t reference to the amount OF labor pc
q formed to the interests of the credi
ors of the bank.
J. SEC. 6. That no National bankiI
h association shall, after the passage
n this act, make any loan on Unite
States notes, or on the circulatiI
l. notes of any National banking Ass'
l. citation as collateral, and all loans
If contracts made upon such collatera
Of shall be void.
le The amendments reported by I'll
5e committee on Sherman's Air Lil
Railroad Bill were read.
4 Nickers made long speech again
TO the bill.
Schenek moved to amend by ad