The Hawaiian gazette., 1884-06-04

itsi siork, beyond the amouni Invested in
Unhed States bends.
$50. 52is. Nothing herein shall pre-
vent oil The shares in ans association
from being included in the valaaiion Of
the personal property Of the owner OF
holder Of such shares, in assessing taxes
imposed hy authority of the State within
which ihe association Is locatcd; but the
Legislature 81 each state nssv tletermiue
and direct the manner and place Of tax
ing all the shares 90 national snking
associations lacated within the State.
subject only to the two restrictions, that
the taxation shall not be mt q gneaier rate
than is assessed upon other moneyed
capital in the hands Of individual citi-
zens % such Stale, and chat the shares Of
any national banking association owned
BY non-residents Of any state shall be
taxed in the city or town whore the hunk
Is located, and not elsewhere Nothing
herein shall be construed 10 exempt the
rial property Of associations from either
state, county or municipal taxes. to the
same eNtent, according to its value, a.
other real property IS taxed.
SIC. 5329. Immediately upon declaring
the bonds Of an association forfeited Tor
non-piymeni OK its notes, the Comptroller
shall give notice, in such manner rs the
Secretary % the Treasury shall, by gen.
cril rules or otherwise, direct, to the
holders Of the circulating notes Of such
association, 20 present them for payment
at the Treasury Of the United States, and
the same shall be paid rs presented IN
lawful money Of the United states, where
upon the Comptroller may, in his discre-
ton, cancel m amount OF bonds pledged
By such association equal at current
market rates, not exceeding par, 20 the
notes paid.
SEC. $3.50. Whenever the Comptroller
becomes satisfied rs the protest or the
waiver and admission specified in section
fifty-two hundred and twenty-six, or by
the report provided for in section fifty
two hundred and twenty-scven, that any
association has refused to pay its circu-
lating notes, be may, instead Of canceling
its bonds, cause 50 much ~ them rs may
Dc necessary Co redeem Its outstanding
notes to be sold at public auction in the
city OF New York, after giving thirty
days notieo of such sale tn the associa-
ton. For any deficiency in the proceeds
OF all the bonds of an association, when
thus sold. to reimburse the United States
the amount expended in paying the cir
culaiing notes OF the association, the
United States shall have u paramount
lien upon all its assets; and such dehcicn-
cy shall be made good out OF such assets
in preference 10 any and al other claims
whatsoever, except the necessary costs
and expenses Of administering the same.
SEC. 593l. The Comptroller may, If
he deems it for the interest OF the United
States, sell at private sale any Of the
bonds OF an association shown to have
made default in paying its notes, and re-
ceive therefor either money or the cir
culating notes of the association. But no
such bonds shall be sold by private sale
for less than par, nor for less than the
'market-yalue thereof at the time Of sale
and no sales Of any such bonds, either
public or private, shall be complete until
the transfer Of the bonds shall have been
Hssde with the foruialties prescribed by
sections lifty-one hundred and sixtv-twO,
iifty-one hundred and sixty-three, and
iiity-one hundred and siNty-four
SEC. 52l2. All transfers Of the notes,
bonds, bills of exchange, or other evil
deuees Of debt owing to any national
banking association, or Of deposits to its
credits; all assignments Of mortgages,
sureties on real estate, or Of judgments
or DEGREES in its favor; all deposits Of
money, bullion, or other valuable thing
fer its use, or for the use Of any Of its
shareholders or creditors and all pay
ments OF money to either, made after the
commission Of an act of insolvency, or in
contemplation thereof, made with view
to prevent the application Of its assets in
the manner prescribed by this chapter,
or with a view to the preference Of one
creditor to another, except in payment
of its circulating notes, shall be utterly
null and void and no attachment, in
junction or execution, shall be issued
against such associations or its property
before final judgment in any suit, action,
or proceeding, in any State, county or
municipal court