The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-02-10

NEW YOR
certihcsses Of title q value and drawing
and
Su o.
value es ab such Of this STATE as
duly assigned the corporation making the loan and
@ Ss
they %s e s s au shorter
charge the him. And all necessary charges
% FOR 70 Ss s OF
ration, and shall be hen upon the property mogaged
h shall be lawful for the trustees any saving:
this act in any bank O. banking or
Or IN any trust company incorporated By the laws Of
State with interest {. such rate exceeding seven per
any con S. " shall no, twenty
Of the whole amount Of deposits savings bank
Be s
ss IS
or trustees q any trust company in which the deposits Of
': %
@ amy s. such Or trustees are Of sy
trust company. such repositories may be designated
psS o %rSs BANKING
OF S a Be- sG
than Of bank Or trustees Of any trust
q .rstees q such savings bank and in savings bank
90 DC a na ns % OF
IN this State exceed onehrd OF the whole number Of such
ces occurring shall be filed from others than such directors
SEC z- shall be lawful for the trustees of any savings
bank to purchase hold and convey real estate as follows
of its business from portions OF the
n sS: sgs a ne in good faith for
Such as shall have been purchased at sales upon judy
or DEGREES rendered obtained money loaned
n & Of % Ss @ %
the corporation holding the within five years after the
@
ea 0c % re-
Whatever except the Of this
the transaction Of is bushes, =, ~ "
SEC " shall be lawful for the trustees of any savings
gains profits the institution amount not exceed
to be held and invsstsd as provided for in this act as
plus und 70 meet any consngency IN us business urs sca
SEQ s-ln determining per Of surplus and value
Of held BY bank its stock
Investments shall be estimated at their market value its
est longer period than three months shall Be- estimated
At not exceeding their face and its real estate not exceeding
'''' '~'' ARTICLE ~.
SEQ 1eA savings banks shall up their accounts
al s pry CT ~ to
ors on or before the Both day of January and July respect
SEC 2e~It shall be unlawful for the trustees any
pay @ actually earned
longer pesod than the same has dspossd except that
@ ii s ss s 1s
interest allowed upon them the same Is though deposited
interest shall BE- sOwsa upon any deposit
all OF deposits standing in the Of any de-
Iosto trust Or o.herw"e whose aggregate shall exceed
been deposit at least six months prior to such Interest
sno ssN shall be lawful the trustees of any savings
bank to ia the interest allowed by them between
nsn one .. Ss are av Of the trustee.
bank after decucng the and the
for the surplus fund authorized by This act to divide
among the deposio within the discretion conferred the
last preceding section Axr,cr.Ev
OF REMOVAL TRUSTEES.
25N shall be the duty of the Superintendent Of the
Ran p s Of ns due
Sand rom Ss Once suspend u'as
saving: bank which pc
the SAT- bank, notice thereof be
yen 70 said Ss 70 application said Os
SIG s7-The Superintendent the Banking Department
ss s' s o sS e OF
Soss sS Ss sss sy W O.
his order Cs be d
lent to an order for the RTcE q such trustee from 0'e
OF DISSOLUTION OF SAVINGS CORPORA
syc sswbenever the trustees OF auv savings bank shall
by vote Of Of their NUMBER resolve that
savings bank they shall transmit copy Of such resolution
saperiaenaeni Of the Banking Department, with ihe
hrsvs negative the names Of those and not
sEo 2s Upon receiving copy of such resolution SHAH
persons BY MIN appointed to examine the affairs
statement regards resources and aS:
shall be lawful for the to advertise for four
bank is located for proposals to assume the
and control OF such savings bank at the place where the
same county, shall contain general state
tn. first publ
cation Of the notice authorized the last preceding section
prove shall agree charge and control Of such
or village Of savings bank has been
transacted ;as be the duty q the snperlnepps
papers, records accounts and property Of whatsoever
bs TO % asss
carry It's business; and thereupon the superintendent
seal q which SsSiieas snail ss SisS The ONCE q
is located and duplicate copy shall also be- ad IN the
Bank Department, and shall declare the persons named
trustees q The savings bank 20 .rs1sferred;
poos se ss S
section the persons named therein shall thereby
body corporate and polite, under the title
OF the pank whose assets have teen transferred
s e & Saer es
ownership In and to all the real and such
savings bank, with to hold and the
ect to the tor which such savings bank instituted
and TO the provisions and requirements OF this act.
SEC. B3 proposals satisfactory TO the Superintendent
shall be received from fifteen persons pro-
vided IN section 81 of this act il Il shall appear
superintendent nexpeden to continue the business
as IL Sss
shall be lawful for him to consider and accept Of the pro-
posa of savings bank In the county the
Assets and liabilities of such savings bank.
SEQ. S4-Upon accepting the proposal Of any savings
bank in the county to assume the and Liabilities
Of such dssovng savings banks the Superintendent shall
take OF the of such dssong bank
vided nsecon g. OF this shall transfer deliver
same to the savings bank from which proposal has
been accepted and the deed instrument of
executed BY the OF Banking
bank in whose name the held, shall be a good
wand and sufficient for any requiring
haL