New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-10-30
COLGATE & CO.'S
1906 LAUNDRY SOAP.
For years exclusively used by the best families

cipal bonds shall be accepted. first uness the he
payable In legal tender coin of the United States;
second unless for two years nanii aid bonds
shall have been at par in the market and IN me
opinion Of the Controller OF the Cutrtncy IN 'e
case OF National banks. likely to remain thrd no
bond shall be accepted upon which payment Oh IN Ia,
has been in default at any tine wthn nvs
has been publicly sold at less than its par value;
fourth no county or municipal bohu Sn civ gt or
taxing district issuing 1t, shall exceen Pr. , EN- III
per annum. and If after deposit .he ! ,h s Con- ne
troller Din the case of National bank shai, DE-
shall be allowed to have more than 20 per cent OF
Its deposits in the bonds OF any one ",ate vouiy,
Of bonds on deposit has been publicly sold below
par the period Of thirty days or me opn
and believes that It's actual market value ior thrty
days has been below Ga he rns aet the
requirements Of law. IL. A.,
Section 5 authorizes the Controller with the the
consent of the Secretary OF the Treasury to reject
any class OF bonds or to require the SUBSTITUTION
Tegs amer as nsSent Security Section requires
that 20 per cenum of all deposits to secure cireu
United States onehaf of each as nearly as prnc,i-
cable. and that not more than 90 per cent OF !, IN
any shall be gold or silver section PROVIDES
that no National banking association shaii De re-
quired to keep deposit as security ior IT'S CIR
mentioned. 20 per cent in gold ana silver com a ,h
50 per cent in bonds, Section provides that me
United States snail nave "A HIST zen on wv
assets of each National banking association for
the payment Of its notes Section provides
%ationni banks that a fund Of 100000 shall be
created out Of the taxes collected thercrom when
other resources have been exhausted TO redeem the
notes OF any bank that may have failed
RESPONSIBILITY or BANK OFFICIALS
Section 10 provides that no officer or director OF n
National banking association shall borrow there
from on terms different from those allowed to
other borrowers. that no National bank shall lend
money the security OF its own stock. that no
officer or director shall ndorse for another in said
bank borrow money from it on the Enforcement
Of another officer director that any director
shall be individually liable for any losses on ac,
count OF infraction OF the laws unless ne shal
have voted against the same and caused his name
to be recorded and shall have notified the Con,
present the meeting Of directors at which
the iniraciion occurred then wiihln thirty aays
after the fact came TO his Knowledge; section II
provides that any director VINO shall be absent
from the State more h2n Txy days or b, rS SaarS Se
to have resigned and his place snail be hlled at
debt Dc t. ''"'0""' van" ""''e ''''" ''
Section 70 provides that the refusal failure TO
redeem its own notes In coin upon presentation al
its own counter with demand for coin at once or
tute cause for the appointment Of receiver in the
case Of National bank and in The case Of a state
10 per centum tax on its circulating notes for the
year in which he dfIaIi ofGnrrsl anf grS1 nd
money on real estate security Section II re-enacts
all existing laws and parts OF laws not inconsistent
with the foregoing provisions relating TO
National banking associations, including all
provisions for examination and for pro-
lection OF depositors Section T. provides
that no State bank. banking association or banker.
authorized by State law issue circulating notes.
shall be exempt from the 10 per cent tax unless
In the charter from the state 40 authorizing II to
issue circulating notes there be provisions comply
ing with and according with the requirements II
each and every provision Of this act. except
Section thereof The state banks and banking
associations hereby intended To be exempted are
no, exempt until they are chartered with pro-
visions Of this act. such compliance % provisions
being PREREQUISITES to the exemption herein AMI
HEREBY enacted"