River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1876-08-10
GENERAL ELECTEOF
.tOTICE.

GENERAL EkECTIO.F
.sOTICE.
NOTICE Is HEREBY GIVEN, That at the
ganeral election 20 be held in the several
towns, wards and election precincts Ia the
State Of Wisconsin, on the Tuesday succeed
ing the first Monday, being the seventh day
Of November next, the following officers are
70 be elected, to-wit.
Ten electors Of President and Vice Presi.
dent Of the United States.
A Representative IN Congress in the Seventh
Congressional District, comprising the count
les Of Vernon, La Crosse, Monroe, Jackson,
Trempealeau, Buffalo, Pepin, Pierce, ST.
Croix, Eau Claire ard Clarke, IN place Of J.
NJ. Rusk, whose term Of Office will expire on
the fourth day Of March next.
A State Senator In the Twenty fourth Sen.
ate District, comprising the counties Of Ash
land, bayfield,, Barron, Burnett, Douglass,
POLK, Pierce and st, Cr0ix, TO Ill the vacancy
occasioned by the resignation Of II. ID. Barron,
whose term Of Office. would have expired OH
the hrsr Monday oil January, 1878
member OF Assembly in each Assembly
district in the State, and such county officers
as are BY law required TO be elected at such
election.
An act Of the legislature Of 1876. for the or
ganization OF savings banks and savings So
eieties, is 81 the same time 70 he submitted 20
vote OF the electors, pursuant 10 the provi-
sions Of section 8, article XII, Of the constitu-
ton Of the State Of Wisconsin, which act is as
follows:
AN ACT for the organization Of savings banks
and savings societies.
The people Of the State Of Wisconsin, repre-
sented IN senate and assembly, DO enact as
follows
SECTION /. Any numher OF persons, not
less than twenty, may unite for the purpose
Of organizing an association 10 receive on de-
post the savings Of laborers, mechanics,
farmers, servants, minors and others, and 10
loan tie same for the benefit Of such deposit
ors They may make, sign and acknowledge
before some proper officer authorized 10 take
acknowledgement Of deeds, certificate in
Writing, in which shall be stated the name
OF such ASSOCIATION, the names OF the corpo-
rators, the name Of the city, village, town and
county in which the operation OF such asso-
cia;ion Is 10 be conducted.
SECTION 2. such certificate shall he fled
in the Office OF register OF deeds Of the county
in which the business Of the association is to
be conducted, and a duplicate thereof shall
he deposited in the office Of secretary OF state.
SECTION 8. Such corporation shall have
power 10 enact bylaws for the government Of
rs affairs, and such bylaws may prescribe
the condition on which such deposits shall be
made and the terms on which payments shall
he made 20 the depositors by such institution.
and the depostors shall be bound by the con-
ditiOns enacted in such bylaws, which shall
he printed and conspicuously posted in the Of
fee ofsuch corporation.
SECTION ! The corp0rators shall annually
elect by ballot board OF trustees, which shall
consist OF not less than ten.
SECTION 5. The trustees Of directors, within
ten days after their election, shall elect from
h. q NI4ae- L
one or more viee-pTesidents, a treasurer and
a secretary they may also elect from their
own members committee on finance, all
said officers to hold their Offices till others
are elected to fll their places
SECTION 6. II shall be lawful for such cor
poration TO purchase, hold, and convey such
real estate as banks OF discount and circula-
ton are authorized by laws OF this state to
purchase, hold, and convey.
SECTION Z. No more than three officers Of
any savings association, shall at the same
time be officers OF any one bank OF discount
or circulation, o. trust company; and no
cashier OF bank Of discount or circulation
shall be treasurer Of any savings hank having
over five hundred thousand dollars ofdeposits
SECTION 6. Any savings bank organized
under this act may employ not exceeding
one-hali its deposits ia making loans on per-
sOnal security, and in the purchase OF the
public stocks or bonds Of the United States, Of
the northwestern states. to-wit: Ohio, Indi-
ana, Mic hlgan, Illinois, Iowa, Wisconsin and
Minnesota, OF the authorized bonds OF any in
eorporated city, village, town, or county in
the Aforesaid northwestern states. All other
loans shall he secured by mortgage OF unin-
numbered real estate, lying and situated in
the aforesaid northwestern states. No such
savings bank shall invest any part Of its de-
posits in the stock Of any railroad company
nor loan Oh, nor invest in, any mortgage on
real estate, except in such real estate as lies
in the aforesaid northwestern states.
SECTION 9. No such corporation shall buy
or loan any money upon any obligation ON
which only one person or firm shall be holden,
without additional security for the same.
equivalent TO the guarantee or endorsement
Of some other responsible party.
SECTION 10. Such bank may receive on de-
post from any one person, in his or her own
name, or the name Of another in one year, a
sum not exceeding one Thousand dollars
SECTION II. The directors, managers, or
trustees, shall annually appoint not less than
two auditors, who shall not be directors
managers, or trustees ofthe corporation, who
shall examine the books, &C counts and secu-
rites belonging to such society or bank, and
make sworn statement showing the true
| condition thereof, the total amount Of deposits
the whole number Of depositOrs, the largest
amount due 10 any one depositor, the amount
in loans on real estate securities, the amount
invested in stocks and bonds, the amount o.
funds on hand, the names OF corporators
trustees, and Of the other officers OF such in.
stltutions, on the first day OF January Of each
year, which statement shall he kept on Gle in
the office OF such hank, and an attested copy
OF the same shall lie forwarded TO the secreta.
~ Of state on or hefore the first day Of Febru.
airy OF each year
SECTION y, Such corporation shall not
make and Issue any bill or Iromissory note g
circulate as currency.
/ SECTION 10. No cOFporatOr, trustee, direct.
! or, manager, nor any other officer, except the
treasurer, shall receive any compensation toI
| his services IN the management 81 such bank
nor derive any emolument therefrom pro-
I yided, however, that the president may re-
/ eelve Tor bis services sum not exceedlsc
five hundred dollars, when the deposits shall
{ exceed five hundred thousand dollars.
SECTION ~. The net income actually earn
ell ly any such association shall be divided
seuli-nlual.y among its dep0sitors 70 an
I amount nei 70 exceed six per cent ayear ON
Z Their deposits Tie surplus earnings above
said siN pr eeut after Teserving moderate
sum fer 9 contingent fund, shall he divided
among the tsposliors as am extra dividend as
often rs once .n every three years
Z SECTION 2. No trustee, director or man
aver 70 such arp0ration shall he q borrower
I oG surety ter borrower Of any ci iis funds,
Z norfecelre lHy money OF valuable thing Ton
I reC.iiatlug Procuring, OF recommending any
/ lean rom sael. tank, nor ior selling or aiding
/ 10 tie sale = any stocks, bonds or securities
/ 90 such savings tauk, and any such officer
who shall violate any provision o. this section
shall forfeit 70 Tie safe one thousand dollars.
/ sEcIleS il Tie treasurer shall, 90 least
/ zen days before each meeting o. the corpora
I tors, mail or deliver 90 each a written or
| printed notice 81 the day and hour o. holding
/ such meeting, and i he shall neglect 20 give
such notice, be hal pay one hundred dol
lars into the treasury Of the town OF city
where such tank is located,
] SECTION n TIE treasurer shall give bonds
with surety Is tie srtanee OF thu directors
Of trustees ia LII. han ten thousand dol.