Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-11-03

no other or further notice OF the existence and
terms OF legal and valid trust shall have been
cl-en IN writing to such bank in the event Of the
death OF the trustee the same ans part there
Of, and any interest due thereon, may be paid to
the person for whom the said deposit was made.
StCriON 81. All real estate owned hy any bank
shall be ~ xed the same other real estate in
tine town, villace or city whore such real estate
Is situated. Tue capital surplus and undivided
profits ~ a hEnk shall not be taxed but the
shdies uf cspitai stock shall he taxed To the
saau-holdcy- ST such stock where the bank is
located The value Of the shares to be deter
mined the same proPortonally as that OF other
property, after deductins therefrom the real
estate owned by the bank. The tax of any share
holder not residing in the taxing district of the
bank, II unpaid at the time for returning the
unpaid tax list 10 the county, may be paid By
the bank, ami such payment shall constitute
first lien upon the shares taxed. ANY hank
may pay the taxes upon all of the shares of its
shareholders, aud deduct such tax from its
earnings
SRorIoS IS. Legal process against any bank
may be served upon any officer ~ said bank in
the county where Its business office is located,
SECTION 80. In the eycut thar the congress OF
the United States shall hcreafte provide for the
establishment of circulation by banks organized
under state laws, any bank organized or doing
business under this act, shall have the power ~
issue circulating notes or currency, III Accord
ance with any such act of courtess, aud shall
have the power To avail itself ~ the proN tSIous
OF any such act OF congress The provisions OF
this section shall not 90 construed Ia permit
any savings association. or private bank or
banker, or any loan or t-ust company, or any
other corporation, To issue circulating notes
SECTION 20. The prov isluu~ Of this set shall
apply TO, and govern, all banks otCauI2ed and
now existing within this state and the powers
privileges, duties aud restrictions conferred aad
imposed upon any bank existing and doing
business under the laws of this state, are hereby
abridged enlarged or modified as each partic'
ular case may require, 10 conform to the pro,
visions of this act Nothing in this act shall
be construed to affect the legnlity of invest.
ments heretofore mode, or to transactions here
tofore had pursuant 10 any provisions of law
In force when such investments were made or
transaction had. All banks now existing and
doing business within this state shall or
before the first day at July next following the
time when this act becomes operative, alter or
amend its articles of organization, II necessary
to comply with the provisions of this act, aud
shall by said time make its business conform 10
all respects 10 the requirements ~ this act, ex
cept where such requirement is expressly waived
herein.
CHAPTER Ill
PRIVATE RAMS
SECTION l. Every person, ca-partnership OF
corporation DONG business ~ ms state or that
may hereafter be doing business in this state
which shall advertise bank or as doing a
banking business, either by signs, circulars
letter heads, or printed matter of any descrlp
ton or any such person, partnership or cor
poration, who shall receive money or funds for
deposit or safe keeping as q regular business or
who shall buy or sell exchange as a regular bust
ness, shall be deemed To he doing a banking
business, and shall be known as a private bank
and as such shall be subject Ia the provisions
Of this act SO far as tho same shall be apple
able And every such person, co-partnership or
corporation shall make reports and be subject
Ia examination, the same as banks under TIL.
act And every such person, O.. partnership or
corporation shall maintain the reserve required
Of any bank under similar condition aud shall
keep separate set OF books OF account relating
to such banking business, and no entries shall
be made upon said books relating to any other
class of business. Such set OF books shall be
subject at all times 10 examination 10y the bank
commissioner, his deputy, or person appointed
by him. Upon the refusal OF any such person,
,o-partnershlp or corporation 10 keep the
serve required under this act, or upon the
lusal 10 keep the separate books Of account AS
required hereunder or upon the refusal to
make the reports required by this act, or upon
the refusal to submit the books OF account,
spers, securities aud cash to the examination
herein required shall forfeit not less than
twenty-five dollars and not more than one hun
tred dollars for each day of any such refusal
The banking business Of any person, co partner
ship or corporation shall be subject Ia the limi
tations, powers and regulations of this act. in
so far as the same may be applicable.