The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-03-11

than four regular meetings each year, and
of the books. records, funds and securl-
ties held by the bank shall be made by
them, and the result of such examina ton
shall be recorded in detail upon the record
book of the bank. A certified copy OF the
record of such meeting shall be forwarded
to the bank commissioner within ten days
after the holding of same
Section 10. The shareholders of every
hank orRanized under this act shall be
additionally liable for the sum equal to
the par value of stock owned and no
Section II. No bank shall employ its
moneys, directly or indirectly. in trade
or comm cree, by buying and selling goods,
chatteIs, wares and merchandise, and shall
not invest any of its funds in the stock
make any loans or discounts on the Sc
curity of the shares of its own capital
any such shares unless such security or
purchase shall be necessary to prevent
loss upon a debt previously contracted in
good faith; and stock so purchased or &C
Quired shall, within six months from the
of at public or private sale; after the eT-
piration of six months any such stock
assets of any bank: Provided, that it may
hold and sell all kinds of property which
security for loans or any ordinary colfec-
ton of debts, in the manner prescribed by
law. Provided further. that any goods CT
chattels coming into the possession OF any
bank aforesaid shall be disposed of as
soon possible and shall not be consid-
cred as part or the BANK assets aIler
the expiration of six months from the
date of acquiring same
Section II Each bank doing business
under this act shall have on hand at all
times in available funds the following
sums to-wit: Banks located in cities or
towns having less than five thousand pop
u1ation, an amount equal to 20 per cent of
their entire deposits: and banks located in
cities having over five thousand popula-
ton, amount equal to % per cent of
their entire deposits, One-half of which
may consist of balances due to them from
good solvent banks located at commercial
centers and at such other points the
bank commissioner may approve, ana
one-half shall consist of actual cash: Pro-
vided, that any bank which is made the
depository for the reserve of any other
bank or banks shall have on hand. at all
times in the manner herein provided. Is
per cent of its deposits. Cash items shall
not be considered as a part of the reserve
funds in any bank shall be below the re-
Quired amount, such bank shall not IN
crease its Investments by making any
new loans or discounts otherwise than by
discOunting or purchasing bills or ex-
change payable at sight, nor make any
proportion between the aggregate amount
of deposits and its lawful money reserve
has been restored; and the bank commits
sioner shall notify any bank whose lawful
money reserve shall be below the amount
above required to be kept on hand, to
make good such reserve, and if such
bank or association shall fail to do so for
it shall be deemed to be fnsolvent. and
the bank commissioner shall take possess
provided in this act relating to insolVent
banks. The bank commissioner may
balances due to any bank from any other
bank or associa ton which shall refuse
or neglect to furnish him with such in
formation as he may require from time to
time relating to its business with any
shall enable him to determine its solven-
cy; PROVIDED, that al savings banks
not transact a general banking bust
ness shall be required to keep on
sum equal al al to ~ eer cent n a of 4ber a e
posts, and shall be required to keep
like sum invested in good bonds of the
| United States or state, county. school
| district, or municipal bonds of the state
of f, Kansas worth I'll not less than par
bank of any person or company, corpora
ton or firm, for money borrowed, includ-
| the liabilities of the several members
! thereof, shall not, at any time, exceed Is
| per cent of the capital stock and surplus
| of such bank actually paid in; but the
| discount of bills of exchange drawn in
good faith against actual existing values
or loans upon produce in transit or upon
| warehouse or elevator receipts col
| lateral security, and the discount of COM
mercial or business paper actually owned
| by the person negotiating the same, shall
| not be considered as money borrowed.
! The bank commissioner may, at any time,
order any excess loan reduced to the le>
gal limit within sixty days from the date
Section IA. Every officer, director, agent
banlz) doing business in the state of Kan
sas who wilfully and knowingly SUBJ
| scribes to or makes any false report or
any false statement or entry in the
books of such bank, or knowingly sub
scribes or exhibits any false writing or
| son as to the condition of such bank
| shall be punished by a fine not to exceed
| one thousand dollars by imprisonment
| in the penitentiary not less than one year.
n9E 6q 9re 4 than M I'VE Ha gear c5o aoosnt
| ceive on deposit with without interest
| any money, bank bills or notes. or Uni
| ted states treasury notes, gold or silver
| certificates, or currency, or other notes.
| bills checks, or drafts, when such bank
I md off
| cashier. manager, member, partner or
! managing partner of any bank, who shall
| knowingly violate the provisions of this
section or be accessory to or permit or
| cOnnive at the receiving or accepting on
| ty of a felony and upon conviction there
| of, shall be punished by fine not exceed
| ment in the penitentiary not less than one
| year nor more than five years or by both
| such fine and imprisonment.
| Section 1G. II shall be unlawful for any
| individual, firm or corporation to transact
| without having first transmitted to the
bank commissioner verified statement
Individual; firm or corporation; said state
| ment shall be made in accordance with
| commissioner shall thereupon have power
to examine into the condition and affairs
| days from the receipt of such statements
make such examination: and if such bank
has IN all respects complied with the pro-
| visions OF law applicable thereto, said
| commissioner shall issue to such individ-
| ual, firm or corporation, under his hand
| and seal a certificate showing the amount
| of capital paid in and that the same is
| authorized to transact a general banking
| business, as provided by this act. And it
| shall be unlawful for any Individual, firm.
| or corporation to transact a banking bust
ness without having first received such
| certificate from the bank commissioners.
| Any person violating the provisions of
| this section. either individually or as an
| interested party in any association or cor
| poration, shall be guilty of a misdemean-
| or. and on conviction thereof shall be
| fined in a sum not less than $500 nor more
| than $1,000, or by Imprisonment in the
county Jail not less than thirty days nor
more than one year. by both such fine
| and imprisonment.
Section II. Every bank shall make at
least four reports each year, and oftener
| if called upon, to the bank commissioners.
according to the form which may be pre-