New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-12-12

os NAV be designated by f. for that purgoSe a The
whenever such association d desires 10 Inc notes 20
w. rtrcd shall be forwarded to the Controller 81 o.
the currency for cancellation; c am" cancelled notes
Shall be returned TO the association. Ia, rr cir
mutiated notes and notes ersJ by any asso-
cu'ao' W. lao reft,rned 10 the Controller OF the
currency Tor destruction and reissue as no" p'o-
Zee Thai In order to provide safety flha 'oi
,hS PremP, rgdG Snims al each such
association now organized or eS,tel Sta:es In
liz ponths Of January and July In cach year, IL
lax Of one-fourth Of per cent Tor chrh M" 80
onltstanding 10 10 computed as hercnbefore pro,
vided until the said fund amounts 10 a rai
70 ner cent upon the total amount OF Nal "a, a
hank notes outstanding and thereafter sald taN
shall cease Each association hereafter 9rsai|i
and each association applying tor adna'iG nfn the
culation shall pay it's pro rata snare lnlo tIr
said fund before receiving notes but an @ I
entitled to withdraw part OF said fund N Mnen
a National banking association ne'onei i he trans
fcrred TO the safety fund herein provided ior, ama
ond in case the said aforementioned fund should at
any time be impaired by the redemption or the
notes OF failed National banks, ana thc lInine ne,
diatcly available assets OF shd I'm mo no at
sufficient reimburse II. SAID inhd shal. ne ~
the oSsr SE race accorns to
o. their outstanding circulation, and inc assoc ia
assets Of each failed bank for the amount prop
erly chargcable to such bank on account OF inc
rcdcrnption q ifs circulation
Sec 6 That The secretary OF the Treasury may
from S to m D ngss s1 Ses bonds ha%ng the
% H. in,crs, ,rrr,,inr thereon shall be held as
nar, Of the said fund Such bonds may be sold wnen
necessary and the proceeds used f9r IN" rcdeni,oh
OF tho circulation notes Of failed National banks
Sec : Th.t every National banking association
heretofore organized and having bonds on fep3sl 20
secure circulation shall. or before the Isl iay ~
July. 1875. Withdraw such bonds and deposit WIN
ne TREASURER q he intel SeI n6,e. ' n
Guiding the Treasury notes issued under me ac OF
July H. 1897 equal 70 20 per cen, % Us onse, nd Is
circulation q, the time Of such wlhdrawai ana us,
posii. and all avs AID parts 81 laws rrlnrns 80, So.
ss.oeton To- H i ,S Inttod ,etos bonds Of he
United states FOR any purpose other tnan a.
for public moneys shall BE- and are hereby repeater
from and after the said date
tina, sections and !? Of the @ s sgpr,2ye1
banking associations to extend their corporate eN
irtencc AMI for other purposes am section ~ OF
provide aSNational currency secured bv p!eige 81
n,d s,as h,ndS snn t, Prd all acts and parts
OF acts amendatory thereof be and the same are
Sec That the secretary Of the Treasury may in
his discretion. from time To- TIM" any surplus
retiro,cnt OF United stA'es egal-tender notes bui
TIE amount Of such notes rei'rci sha nnt IN 'n "a,
tn additional circulation taken ONT by Nai'onai
hanks ana state banks rndsr ,nc provisions q ms
ury notes authorized 10y tho act - July H. 'S en-
t.f an At aresvqs ID, nds. thereon and
por Other PURPOSES ~ less Denomination mat 81"
~ be y 4
nominations loss than So shall be received INTO th
Troasrr, they shall be cancelled and an equal
amount - notes nf Axe characicr hu' IN h"nomht-
fion- ~ $40 or mu'nirs thereof. shall b" issued IN
ih.r r'ac.s bur nothing In this act shll be a. con
ftrusl as % repeal in any manner AFFECT the sec
ton - the sail act " Jriy H. 1871
soc io That The 81 circulating notes Issued 10y
i,vs ~ any STATE and which transacis no other
than a banking business. shall he exempt rom
IA, alton under the laws Of the United states when
~ 4. shown 20 tho satisfaction OF the Secretary OF
Ftrsf-That such hank has ut no time hIL out
standing It's circulating notes IN excess 81 80 per
cent - - pail-up and unnpared capita o.,
second That IT. stockholders are niiViluh!S IA
81. fr the c!efnpt0n - l's CIRCULATING NOES 10 me
mn ,fen, - heir ownership 81 stock hnt ms 1hal
No.; De required the CAGE ~ persons ho.ins stvCh
~ executors administrators guardians " truHte'-
N ~, esrsfs AMI funds In their hands ar" laii' III
IKE manner and e. the same cxtent AZ thr t'S',-
Tor lufe@taie ward person Interested IN ~ucn
funds would bc II living and competent 20 hct ana
hoIi hr stock IN his own nafn" . ~,
Tttrl Thef tho circulating notes consniu'" ny
Law a nr9i i.n uron ~ he assets - ihe bank
Fourth Tina, the bank has AZ All times kspt on
deposu with mn oifrcr ~ tn state ahth'tf.h oy
i,u - receive AMI hold the same, gIIhrant''
rsnl in United states legil-tenier notes. Mrudns
rrrrslrv noses u 1880 equal - 70 per cent ~ us
orfstan1ing circulating notns. and
i>ffh That T. has promptly r"dcewei its notes ~
49, On demand N IT. principal ono" or AZ one or
mr.. - is branch Offices n u has hranch'f.
-. II That the Secretary OF ihr treasury MY
under proper rules and regulations ID 10 eH't',
,isha, Nv him permit state banks T. procure anu
use In the preparation ~ their note W. ~
,ire,lye p,por usel in printing intel states go
cnr,,los. huf M STATE bank shal print or fnEraVt
t.s Notes I'm s,nllifuI. 81 United states notc, or
c.-in.,,e or National hlnk nOtc.