New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-06-23
TILE TEXT OF TIE BILL.

sslI and February IA 1850 OF under secuohs 100;
MAI 1870 SI36 and 5l5A of the Revised Statutes OF
The United STATES may at any time WITHIN tne W. eS
next previous TO the date OF the expiration OF ~ s ap
porate existence under present law, ana WIN tDe p
roya OF the Controller Of tho Currency to be sranteo
a. hereinafter provided extend It's period or succession
by amending its articles OF association or term o. %
more than twenty years fron the EXPIRATION OF tn0
NJ succession named in said articles OF asscclat0n 49,
mali have success such extended PERIOD u1T
Boomer dissolved by tae aei OF for
rhrds OF It's stock unless its franchise oeoV NOD
deited by some violation Of law, or unless nei "V
nsp OF That such amendment of said sS1ces OF as
soca,on shall be authorized by the conseh IN .
Of shareholders owning not less tnan w. nar5 Of Di
Capi csnsa snch consent he certified under the
seal of the assocstion oy us pO@osneS by an appca
ZION made bv president or cashier for the &
trees' aud such amended articles OF association
shall mot be valid until the Controller shai give 70 .S
.ocston certificate under his hand and seal tha tne
Sssocation has complied with all the provisions required
to be complied with and Is authorized 70 nave success
zion for the extended period named III 'he anen"ou a
SIC g. That upon the receipt OF the sPPhe Ca ION
and certificate Of the association prov1eu Ior LII n
Drecedng section the Controller OF the currency sna
cause special examination 10 DC inauo ni"n and NJ
az the association, 10 determine ils ~ MIN
inter such examination, or otherwise II appears 10 in
shall Grant his certificate OF approval provided for IN
OF said association is not SATISFACTORY ne SHAH "uu
such certificate OF approval 81, - ~,o,a,,c rho
per,od ~ s succession shall continue 10 ENJOY az Tue
Fights aud privileges and inmnnltes granted anu sai
continue 10 be subject TO MI tne eules, ~
United states and other scts having reference 70
National banking associations ana ~ snaii hfore
The extension period of succession proNde now
over the jurisdiction for suits hereafter Dfousn' Nv
or against any association established uhdef any Ia"
providing for National banking ASSOCIATIONS, c1ccp s
and agents shall be the same as ana n0t ot.I tna'
the jurisdiction for suits by or agtst psxs o az ~,
iEed under any law Of the United Staes when 90 Gi
NIGH DO banking business where suou @uIhaI N'iA h
ing associations may be dong business Wnsh scn ss
may be begun. And that all laws ana paris VI a"e "a
United aies inconsistent with TINS pr0N!so ue anu que
same hereby repealed And Ir3yiae3 ln tnci @
attachment, injunction or eAecutIoi, on a. So
against National banking assOciat'on CT i'e PUp
eIty, eiore final JUDGMENT Ia any ss' ,rj u t'
SIC ). That when any National banking asSocialoh
tas amended It's articles OF M, 1s crtrte a.
This act. and the Controller has gidhteu NE a.
npprO, a. any shareholder Eot assetns To sucn "ehu
scnI may give notice in writing 10 he o. . ~
fbTtv DAVIS OF the date OF certncate OF approval OF
ms desire to withdraw from sald assoclauo' 10 %
association the of the shares so hed W hI' - p
nscertaned by appraisal made Uy committees %
shre, uersons one 10 be selected by sucn ShalcDOIuc
one by the directors aud the third by ne hrs t@O anu
IN case liked shall not De- satslao Org 90 1hS
sucn shareholder may appeal 10 the ConfOicI u INC
sin y,l ne 6nai ana binding a,a II SAID rcappraisal
shall exceed value liked b! said committee Vie DALE
shall pay expenses Of ID appIblha 1u '.ll so
she a1eapt shall pay such expenses aud tue Yrc SO
ssogrta ned and de terminec shall DO deeicd u 90
debt due be forthwith pdlu 10 s"lu co
from said bunk and the shares 50 surrendered and a
praised SHALL after due notice, be sold AI puDG sAiv
within thirty days aiter the final appraisal pIO'lieo III
TINS section provided That In the Oisdhl]1'On VI my
6anklng association intended 10 Genaee aLy ensuing
banking association ami retaining me hauo theiS1 o.
The hU ers of STOCK In the expiring association h re
sntIed 10 preference the allotment o! tie shares OF
lie association IN proportion 70 snv "ssoc
shares held by them respectively III VIC eAlNis "'
atom. o., -. .so,, ,t,, -,
extending the periOi Of its Succession M'loI r
been issued e. il prior such extension small DE re-
deemed at the Treasury OF the Si'g4 a A., al
81 section Of the act OF Jule ~ entitled an co.
fixing the amount OF United states NOTES. proNlhP t'I
Redistribution Of National 0In nies WSeu reaetned
shall BE- forwarded to the Controller OF tne CnrIehcy
fbTee Vers rom u date the extension VI the cor
porate existence OF each bank the asacelauoh 50 OK
he limited states sufficient redeem the remainder 0t
Inc circulation whicn was outstanding al inc dae 81 is
s1 ext S525 q" Of OT the Revised statuIes
any gam that may arise ron rede, o sa
nuIe 10 Denent oil the United states anu IRON to
10 lime as such redeemed the! snail pe re-
,Iaced by new circulating notes bearing such devices
approved by the becethT! OF tAo AioASIy r
culsting notes heretofore issdrd prOvided HowrVer
that each banking association which sAsi oDta tne
benefit ths act shall reimburse 10 tuo liessuis we
COS oi preparing the plate or plses ior suoh NC" cH'
.uathg notice ~ shall be lssned TO H. ,,,os. co-
sLC = That National banking associations whose COZ
norgc existence has expired, or shan hereafter expire
and wnion do moi aVal en- 1 % Tin r %
The act shall be required 70 comply WIZ ~" m
All sections 22l ana 5,222 OF the Revised statutes lu
The sue manner II the shaTehOdcrs rad voted u 70
into lquidauOn provided IL section 90 81 the lie
rsed Statutes ana the Proysions o. seCuIs 2,Z4 am
sc associations 1cept as modined by ms ac' ana the
FRANCHISE OF such assoc aIloL is hereby eAtned i1 .e
'ie ni' lat National banks nov organized, here
after orgauiLcd, having capital al @lOOOOO OF less
shall be required to Keep Oh deposit o ueth't WIZ
the OF mo United states United states DoHGs
for their circulating nO!esi ana sUch 81 tuoso
"a ~, aioon are autSor1Ded to reGGce their crcua-
ZION 10y deposit Of Lawful money "a PROVIDED D! law;
Provided thai the arnoun such circulating notes sinai
not in any case 30 per cent Of the par value Of
Che bonds deposited as herein pIovlueo IpN! ~
deposits OF lawful money Tor te retirement IN inl OF
her crcllauon, shall, at the time o. tnot ueIe ~
assessed for The cost OF Transporting au" neueeiis
their notes thea outstanLins SUN eq1a
to te average cost OF de and aI there
upUI psy saon asscssneGt, aud all Naiivnl banks
deposits OF awfl money for The reduction OF thor cir
cuiatlon shall assessed aud snail lay a. a>SeSaDieH
unr s74 Tor The COST Of transporting and Iedeem
In their notes redeemed iron sueA deposi'S sULse
SIC - Tnat any National banking organization
now o. ganizod hereafter urSinlz'd, desiring 70 WIN
none " tne treasurer Che United states, as pro
viIedID tien OF tn act Of June - I5'4 entlur,l
A. aci uAIS the amount vi Ghted STATES NOTES pr
ytdng redistribution of National bahk currency
anGio.!Lcd 70 dsp5sit lawful money and withdraw pro
poruoair amount Of the BONDS held as security loi ~
circulating notes the order Of such deposits and n'
National bank which makes any deposit o
isyf money IN order te withdraw IT'S cIeul "a
crcss for the period Of SIX months IRON Tue Ui9e !
provided That not ie1re than $3o1oVoo Oh IsW
money sla deposited during any calendar month 10
Sc 10 That upon deposit Of bonds as describe,
1c1oeu, as nlo4Ined By section OF an ae
Quilted An fixing tho amount OF Cn!te'
stale NOES providing for a redistribution OF ID
natI0n. currc0ey aud for other purposes approved
June -. is51 ana as modified by seeuoh u Tbs sc
the making the email be entitled 10 re
,Ige from tLs Controller VI the Currency circulating
notes oi different denominations, in blank, reSistere
and countefsgned hereinafter provided, eqda
1 amount 10 20 per cenlum Of the current market value
not ding par tho Uuled States bonds go trans
ferred and dclivarcd and 81 no tune shan the tota
amount 81 suoA issued TO any such association eS
ed g per ocutiIu OF the amount at such time actua
ysd u o. its capital stock add the provisions OF sec
ions IA ana l76 Of The Revised sstotes arc he'nO
Repealed. .., r....,,,, 4. ho-.