The Panola weekly star. (Sardis, Miss.) 1882-18??, 1882-07-01
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l.enlf frHr ffum ihr rtplfallsH " ihu peri
~ II suutailIn niiHet M stld HHiilNi NJ ~
eurHtlpn, Hiii ahHii have etpN4a=lHn fuf auph
rsienlled prflud nnraa supnHf aiasHtfd a.
art ~ The shareholders uWnlna iwNthlfHa Uf
~ HtneA NJ unlesA ~ ffanrhisn ntnmN ftf.
I.,,,"ih mana ilulHtitnv " law,0f unlota here
anef iniflhndnf lep Hlrd
rtt. 4 That such amendment n aA.dnrtulas
~ HnHneHilun ehHl he Huihufign tt tn Unfil
frui ~ Writing ni the shareholders uunlnR n 4
lr.q tiiap tWvih!f'ls " the vHuilHi siOvh N The
ulilee auth IUnaNnt tu hr reftlh II HndHr rru
VI The nas lclHilnn, hy M President ur Ceshinf
~ the tnmpllullyfof The Currency ncr0mpa'
nna 80 appligailpn made ~ The frai1oni
or tnthrf iuf the approval nf the amended
nftllaA ~ Haspulaiinnliy tho Comptroller, aud
tiirh ntnrnlcd nttirina ~ association ahnll net
be- valid unitl ths comptroller shall vit0 such
hstucintinn certificate under hia hand md
tehl lhat thr MSS elntlun has complied with
OIL lhe provisions required ~ hr complied with,
nnh u authorized "a have succession Tor thu
extended penud naupd IN the amend. articles
Of HAsucatlun
rLc. D TINT, upon receipt of the application
nnd certificate nt association pruVidrd for ia
lhr preceding section, the Comptroller NJ tho
currency shnll cus a special examination a.
W made ~ the expense Of the association, tn
deterinino lls condition; nni II, nfior such rS-
nlninhtlnn, ur otherwise, u appears tohlm that
lnh association " IN q satisfactory condition,
he shn Rfpnt his certificate uf approval pro-.
Nidcd f0tin the preceding rcctiun ur, N II 40.
pears that the condition Of .,d naaOrlatlOn lie
nol satisfactory, h. shall withhold such rerti.
cato OF approval
src. T. That amy association ~ extending the
period OF is success on shall c1niinuo tocnloy
MI The rights, nnh privileges. and imniunitics
Finntcd. nnl shall continue to be subject tu all
the duties, liabilities nnd restrictions Imposed.
hy IN Revised statutes of the United Ntitca
ma other acts having reference tn NATIONAL
thanking nssnclntuns, and Il shall continue 10
he IN all respects the identical association u
was before the extension Of It's period " sue
cc.sluni f'pmef, however, that lurlsdgtinn
Tor suits horulftrr brought hy or nganst amy
association established under any Inv provldL
ing Tor Nntlunal.llnnklnn associations, except
Huits between them AMI tho United Stiips aud
ia officers and agents, shall he the same sand
not other Than The lufisd elton for suits by or
gunst banks not organized under any law uf
tho United States which dn Or might do n
banking business where such National Bank.
ing associations may ho doing busnres when
ruch suits may be h1Run, aud Hl laws nnd
parts OF laws Of the Unified Stntes lncunslstNnt
with this rroviB0 be and the same are hereby
rcpenledi and pr1rticd, further. that No at
tnChneni, injunction, or execution shall bc
Issued ngnnst such National Banking ns,nc'a.
ton or lls property before nnal Judgment IN
county, or municipal court.
SEC. b. That when any National. Banking aa.
soc alton has amended It's articles 0f nsaOcln-
ton as provided IN this act, aud the Conn
trlllcr has granted his certificate ~ nppp,fhl'
amy shnfc-hpder not nssentlng ~ such amend
ment may give notice In writing 10 the Dlt.o.
tors withlr thirty dayR from the date OF thf
certificate or approval of his desire to Will
draw frum said association. IN which case ne
sa, Ig y receive ir" rs CIV 70 heIa by
s,oa,nV s,.a y tseehained by appraisaI made by
committee or three persons, one 10 be- selerted
w such sbnrt-hOlder, one ly n Dlreotar .,J
value 20 nssd snaiY bot not Se .aii-factory o any
such shareholder, he mny appeal to the Comp
troller OF the Currency. who shall cause u re-
appraisal ~ hc made which shall be final and
binding, anil u said rrppprhsnl shall exceed
the value ihcd by stld committee the bank
shall pay the expenses OF said rc-appfiisal, and
otherwise the appellant shall pay said OK
pefisss: and tho value ~ asccrtnined and de.
iermned shall b. deemed 10 be a debt due. and
be forthwith paid TO said shareholder from In .
said bank; and the -hares 81 surrendered aud
appraised shall, after due notice, b. sod at
public sale within the thirty days after iinal
appraisal provided In this section; pforidcd,
that ia the organization OF any banking asso-
clntion Intended 10 replace any existing bank
Ing association and retaining the name there
~, the holders ~ stock IN the expiring nsro.
cinion shall he entitled 10 preference In the
allotment of tho shares ~ the new association
IN proportion 10 the number OF shares held by
them respectively In tho expiring association.
SIC. q. That the circulating notes ~ any as-
sociat on so cst ling the period ~ ~ success
sion which shall have been issued 10 II prior Ia
such extension shall b. redeemed at ths Trcns-
ury OF the United states. ~ provided In Sec.
of the net OF June 81. 1874. entitled "An act
nxlng the am1unt ~ United States notes, pro-
vidins for o redistribution of National Bank
currency, nnd for othcr purposes, and such
notes. when redeemed. shall be- forwarded 10
the Comp,rollcrp pf the Currency and dcstruycd
as now provided by law. AZ the end of tLrrc
years from tho dafn OF the extension OF the
corporate existence Of ich bank. tho assoc n
tion 80 extended shall deposit lnwful money
with the Treasurer nf the United States suiii-
Client ~ redeem tho remainder OF the clrculn.
tion VIII ch was outstanding nj the date Of itr
extension, NJ provided for IN Secs. s,es, aud
S,-si. and t5 ~ the Revised ftatutes, aud any
Enin thHt may arise frum failure 10 present
such circulating notcs for redemption shall
from tnc 10 time, m such notes are re-
deemed, they shall BE- replaced by new cirru-
lstinR notes bearing such devices, 10 bc up-
proved hY the Secretary ~ the Treasury. A.
shall mske them readily dlstinstilshtblo frnm
the circulating netes heretofore issued. Tas-
rffsd, howcycr, that ench banking association
which shall obtain tn brncht u this net shall
rcmburre Ia the Treasury the Il ~ prspar.
Ing the plate or plates forsuch ne~ cifrulnilnR
nntes n shall BE- isstesi 10 u.
sEc. :. That Misunderstanding associations
whose cnrpornfe existence has prrd ~ shall
hereafter expire, and which do not avail them.
selves of the provisions Of this act shall he ~
XXI and ss., X tho Revised siaiuiss IN the
sane manner as u the shareholders had ynted
TO go into liquidation. NJ provided In hcc 5,,5l
of the Revised statutes, and the pruy sluns II
Sos. a-7i and hGa of the Hcsised Statutes
shall also be applicable fo such associations.
except as modified by this net. aud tho fran
| rhlsa % surh association Il hereby exfrnded
for tho sole purpose of liquldatinT their nfa r.
until such Affairs arr finally closed.
EEc. That Naflonal banks nus Organized,
Or hereafter orEanixssi. having capital of
| fin0ug or less, shall not hc required "a Keep
| IN dspi-it of deposit with the Treasurer ~ the
| United States United Stairs bonds ln efcess OF
euethlrd Of their fapituI stock as security
for their circulating notes; and such
of those banks having on dapca I
| bonds In excess ~ that amounf nrr
authorized IN reduce thrir circulation W the
deposit of lawful money a. provided by. las
prnreiod. that the amoa nj of such circulating
| cent Of the par valas u the binds depnsitssl
| a. herein provided. pFuridsd. further. that ail
| National banks uhirh shall hereafter make
deposits Of lawful monny for the refirrment IN
| fIli of their circulation shalt at inc time of
their dapo-it be a-s szrd for the cost ~ trans.
| porting and rc.icrminz their notes then out
standing q sum equal 70 the average cost Of r.
dempfiun Of Nsfiunaffinnk notes during the
.4a4.a
assessment. and ali National banks which have
| hcrrtuf8e or shaii hereafter make deposits 0i
/ lawful money for the reduction of their ciru,i.
lafien shall b. assessed and shall pay the ns.
ses.ment IN tho manner spcclhed IN Hcc.
/ Of the sef approved lunr %, isst, for The cr-I
u transport . AMI reaecnlnz their nofrr ".
deemed rum such deposit subsequently, q
&C Thai any National. BANKING association
inr 10 sishdrsv Il. circulating nets upsa De
po-it of lawful monsr with the TREASURER ol
the United ststez, :. provided in 80. tuf th<
act Of June 81 I'd. entitled '.An act nsins
,he amount q limited states noss., pssviiins
rrneT, and for other purposes" Or - psvvisis<
In this act. 4 authorized b. depn<t Lawful
money and withdraw proport oaste afnoHu
n tpsd- held a- security Tor IT, circulating
SsssonsIIisnk which saakes suris dspo-its d
lawful money IN order 10 withdraw its CIR
eulsfinx nufrs shall he entitled fn frrritr ans
increase nf ~ cirrulstlon for persnd uf 81
munfhz fnum the time Il made such dep=I
of lsufui moncJ for the purpose aforesaid
fFprlziSd. that nd more than faHH.n1 uf Il ~
fui mnnry shall b. dspu~ised during any cal
cusisr month for this purpo~c.
sac. % That urun depr~ff q hpnis ~ de
scrfbed b. ecc<. ff5a AMI tifa Of the Hatises
statutes frrrrrf ~ H4<Iln 4 by The setfiun< q
tbe erf enfiticd An sct nxinx The smpunf %
TINTED Hfafr< n1te<. rr8sttiu9 for rrtii<frihu
slan Of ~ Nsiiensf i,.1k ss'slsn.y, snd 70