The Hawaiian gazette., 1884-06-04

II any TINE llleIc l. Z ucutltnCy IN SucQ
surplus Of twenty per eentum, such asso-
citation shall not pay any dividends to its
shareholders until the deficiency is made
good and in case Of such deficiency the
Comptroller Of the Currency may compel
the association to close its business and
wind up its affairs under the provisions
Of Chapter four of this Title.
SEC, 5l52. Persons holding stock rs
executors, administrators, guardians, or
trustees, shall not be personally subject to
( any liabilities rs stockholders; but the
estates and funds in their hands shall be
liable in like manner and to the same ex-
tent As the teStator, intestate, ward, or
person interested in such trust-funds
would be, if living and competent to act
and hold the stock in his own name.
SEC. 515S. All national banking aSsO-
the Secretary of the Treasury, shall be
Repositories Of public money, except re
eeipts from customs, under such regula-
tons rs may be prescribed by the Secre-
tary; and they may also be employed rs
financial agents of the government; and
they shall perform all such. reasonable
duties, rs depositaries of public moneys
and financial agents Of the government,
as may be required of them. The Secre-
tary OF the Treasury shall require the
associations thus designated to give sat-
iyaetoi,y security, by the deposit of United
States bonds and otherwise, for the safe
keeping and prompt payment of the
public moneys deposited with them, and
for the faithful performance of their
duties as financial agents Of the govern
ment. And every association so desig-
mated as receiver or depositary of the
public money shall take and receive at
par all of the national currency bills, by
whatever association issued, which have
been paid into the government for inter-
nal revenue, or for loans or stocks. TSee
| SIS 36S9-3649, 54s9.l
SEC. 517l. Upon deposit of bonds as
prescribed by sections fifty-one hundred
and fifty-nine and fifty-one hundred and
sixty, the association making the same
shall be entitled to receive from the
Comptroller of the Currency circulating
notes of different denominations, in
blank, registered and countersigned as
hereinafter provided, equal in amount to
ninety per centum of the current market
value of the United States bonds so trans
ferred and delivered, but not exceeding
ninety per centum OF the amount of the
bonds at the par value thereof, if bearing
interest Mt rate not less than five pei
centum per annum: P'Orided, That the
amount of circulating notes to be fur
nished to each association shall be in pro-
portion to its paid-up capital, as follows,
and no more:
First. To each association whose capital
does not exceed five hundred thousand
dollars, ninety per centum of such capital.
Second. To each association whose
capital exceeds five hundred thousand
dollars, but does not exceed one million
of dollars, eighty per centum of such capt.
tai.
Third. To each association whose capt.
tai exceeds one million of dollars, but
does not exceed three million of dollars,
seventy-fve per centum of such capital.
Fourth. 10 each association whose
capital exceeds three millions of dollars,
sixty per centVm of such capital.
SEC. SIP. In order to furnish suitable
notes for circulation, the Comptroller OF
the Currency shall, under the direction
of the Secretary of the Treasury, cause
plates and dies to be engraved, in the
best manner to guard against counter
feiting and fraudulent alterations, and
shall have printed therefrOm, and num-
bered, such quantity of circulating notes,
in blank, of the denominations Of one
dollar, two dollars, three dollars, five
dollars, ten dollars, twenty dollars, fifty
dollars, one hundred dollars, five hundred
dollars, and one thousand dollars, as may
be required tn supply the associations
entitled TO receive the same. Such notes
shall exprtes upon ther face that they are
secured by United States bonds, depos-
tied with the Treasurer of the United
States, by the written or engraved sigma
lures of the Treasurer and Register, and
by the imprintof the seal of the Treasury,
and shall also express upon their face the
promise of the association receiving the
same to pay on demand, attested by the
signatures of the president or vice-presi-
dent and cashier; and shall bear such
devices and such other statements, and
shall be in such form as the Secretary OF
the Treasury shall, by regulation, direct.
GSee IS 5415, 5434.
SEC. 5173. The plates and special dies
to be procured by the Comptroller of the
Currency shall remain under his control
and direction, and the expenses neces-
sariIy incurred in executing the laws re-
specting the procuring of the notes, and
all other expenses of the Bureau of the
Currency, shall be paid out of the pro-
ceeds of the taxes or duties assessed and
collected on the circulation of national
banking associations under this Title.
SEC. 517J. Not more than one-sixth
part of the notes furnished to any asso-
citation shall be OF less denomination
than five dollars. After specie payments
are resumed no association shall be fur.
nished with notes of less denomination
than five dollars.
SEC. SIG. No banking association or.
ganized subsequent to the twelfth day Of
July, eighteen hundred and seventy,
shall have circulation in excess of five
hundred thousand dollars.
I