River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1876-08-17
GE.EER.fL ELECTIOF
NOTICE.

Congressional District, comprising the count
les OF Vernon, La Crosse, Monroe, Jackson,
Trempealeau, Buffalo, Pepin, Pierce, St.
Croix, Fan Claire and 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. Croix, 10 FIJI the vacancy
occasioned by the resignation Of H. d. Barron,
whose term Of Office would have expired on
the frsr Monday Of January, 1878
A member Of Assembly in each Assembly
district in the State, and such county officers
as are by law required TO he elected at such
election.
An act OF the legislature Of 1916, for the or.
ganization OF savings banks and savings so.
cieties, is al the same time TO be submitted "a
a vote Of the electors, pursuant to the provi-
siOns Of section 3, article II, Of the constltu-
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 number Of persons, MOI
less than twenty, may unite for the purpose
Of organizing an association TO receive on de.
post the savings of laborers, mechanics
farmers, servants, minors and others, and e
loan the same for the benefit of such deposit.
ors. They may make, sign and acknowledge
before some proper officer authorized TO take
Acknowledgements OF deeds, certificate il
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.
citation is 70 be conducted
SECTION 2. such certificate shall be filed
in the Office OF register OF deeds Of the county
in which the business Of the association is tC
be conducted, and duplicate thereof shall
he deposited in the Office Of secretary Of state
| SECTION 3. Such corporation shall have
| POWER 70 enact bylaws for the government Of
It's affairs, and such bylaws may prescribe
the condition on which such deposits shall BE-
made and the terms on which payments shall
| be made TO the depositors by such institution
and the depositOrs shall he bound by the con.
ditions enacted in such bylaws, which shall
be printed and conspicuously posted in the Of.
| fee OF such corporation.
SECTION =. The cOrporatOrs shall annually
elect by ballot board oftrustees, which shat
consist of not less than ten.
SECTION o The trustees OF directors, within
ten days after their election, shall elect from
the members OF their own board, president
one or more vice-presidents, a treasurer and
a secretary; they may also elect from their
own members committee ON finance, all
said officers TO hold their Offices till other.
are elected to FIJI their places.
SECTION 6. II shall be lawful for such cor.
porati0n TO purchase, hold, and convey such
real estate as banks OF discount and clrcula-
tion are authorized by laws OF this state "a
purchase, hold, and convey.
SECTION 7. No more than three officers Of
any savings association, shall at the sane
time be officers OF any one bank Of discount
DIN. ~tesS
cashier OF bank Of discount or circulation
shall be treasurer OF any savings hank having
over five hundred thousand dollars ofdeposits
SECTION 8. Any savings bauk organized
under this act may employ not exceeding
one hall its deposits i'll 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, lndi-
ana, Michigan, Illinois, Iowa, Wisconsin and
Minnesota, OF the authorized bonds OF any IN
cOrporated city, village, town, or county in
the Aforesaid northwestern states. All other
loans shall lie 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-
posts in the stock ofany railroad company,
nor loan on, nor invest in, any mortgage on
real estate, except IN such real estate as lies
in the Aforesaid northwestern states.
SECTION 8. 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 wear. 4
sum not exceeding one thousand dollars.
SECTION II. The directors, managers. on
trustees, shall annually appoint not less than
| two auditors who shall not be directors
managers, or trustees Of the corporation. " be
shall examine the books, accounts and seen.
| rites belonging 10 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 TO any one depositoT, the amount
in loans on real estate securities, the amount
invested in stocks and bonds, the amount OF
funds ON hand, the names OF corporators
trustees, and Of the other officers OF such in.
situations, on the first day Of January of each
year, which statement shall be kept ON file In
the ottce OF such bank, and an attested COPY
Of the same shall be forwarded to the secreta-
~ Of state on or before the first day Of Febru-
AIRY Of each year
SECTION - Such corporation shall not
make aud issue any bill OF promissory note TO
circulate as currency.
SECTION 10. No corporator, trustee, direct
or, manager, nor any other officer, except the
treasurer, shall receive any compensation for
his services in the management OF such bank.
nor derive any emolument therefrom pro-
vided, however, that the president may re.
oeive for his services a sum not exceedlng
five hundred dollars, when the deposits shall
exceed five hundred thousand dollars.
SECTION IL. The net income actually earn.
ed by any such association shall he divided
seml-aLnually among its depositors 10 an
amount not TO exceed six per cent. year on
their deposits Tie surplus earnings above
said SIX per cent after Teserving moderate
sum for contingent fund, shall be divided
among the depositors as an extra dividend as
often as once in every three years
SECTION 10. No trustee, director or man
ager 81 such corporation shall be a borrower
OF surety for borrower o. any Of its funds.
norreceiye any money or valuable thing ioT
negotiating, procuring, or recommendinga any
loan from such bank, nor Tor selling or aiding
IN the sale q any stocks, bonds or securities
tosuch savings hank, and any such officer
who shall violate any provision Cithis section
shall forfeit % the stale one thousand dollars
SECTION Is The treasurer shall, az least
ten days before each meeting Of the c0ruora.
iefs, mail or deliver a. each a written or
printed notice % the dey and hour of holding
such meeting, and Il he shall ueglec, 10 give
such notice, he shall pay one hundred dol.
A'l = tAA" Wv NfN@NaA CT Iif INNu " city
where such bank islocatei,
SECTION ~ The treasurer shan give bonds
with surety 90 the acceptance az the directors
or trustees IN not less than ten thousand dol.
lars, payable &C. said tank. said bond 10 he In
the custody 81 tho president thereof No
president director ~ trustee shall he surety
IN the bond % su, b treasurer.
SECTION j. Every corporation formed un.
der the provisions Of this AT shall possess tie
powers and ie subject 90 the provisions of lie
,evtniy-eish;l CHAPTER % TIE revised s.at.
uie' So iaf s. The same may D. applicable.
SECTION ~ AZ the general election 20 be
held On me Tuesday next succeeding the
ufsi Monday IN November, ga the year eight.
cen hundred and seFeu'y-stX. % the usual
IIl.l. N Ll-IImE au.L nI.n.--l.. IN ~. $50