Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-09-29

| ton is to be submitted to the people in
| pursuance of the requirements of Chapter
| 1903, of the laws of 1897, which chapter reads
| rs follows:
CHAPTER 3O3, LAWS 1897.
An Act to revise the laws authorizing the
- business of banking.
9he people of the state OF Wisconsin, repre-
senttd in senate and assembly. do
enact as follows;
CHAPTER l.
BANKING DEPARTMENT.
Section l. There is hereby established In
this state banking department which
shall have charge of the execution of the
laws relating to banks and the banking
shall be designated as the state banking
department. and shall be under the man
agement and control OF a chief officer, who
shali be called the bank commissioner.
Section 2. The bank commissioner shall
De appointed by the governor, by and with
the advice and consent of the senate and
shall hold his office for the term OF Ave
years. unless sooner removed by the gov
ernor for good cause, and by and with the
consent of two-thirds of the members OF
the senate. He may appoint deputy, and
revoke such appointment at pleasure.
Such deputy shall possess all powers and
perform the duties attached to the Office
of the bank commissioner during "A va
cancy In such office, and during the alb
sence or inability of his principal. The
bank commissioner may also employ, from
time TO time. such clerks to assist him and
his deputy. in the discharge of the several
duties imposed upon him by this act, as
he shall find necessary. The salary of the
bank commissioner shall be three thousand
dollars per annum. The salary of the dep
uty and such clerks as may be employed,
shall be at such a rate per annum as the
bank commissioner shall decide, not. how
ever, to exceed that of the deputies and
clerks Of the several state departments.
The salaries OF the bank commissioner, dep
uty and clerks shall be paid monthly by
the state treasurer, upon voucher coun-
tersigned by the secretary of state. Nouch-
ers for the deputy and clerks salaries
must be first approved by the bank COM
missioner. All actual and necessary trav-
cling expenses of said bank commissioner.
deputy or clerks. incurred in the discharge
of their duties, shall be fully temized upon
proper vouchers and certified In the order
indicated for the salaries, and presented to
the secretary of state If allowed the sec
rotary of state shall counterslgn them. The
state treasurer shall upon the presenta-
ton of vouchers so allowed and counter
signed, pay the amount OF such expense.
Within fifteen days from the notice of their
appointment. respectively, the bank com
missioner and his deputy shall take and
subscribe the oath of office, prescribed by
the constitution, and file the same In the of
flee of the secretary of state. The said
bank commissioner and his deputy SHAH
each give to the people of this state bond
in the penal sum of twenty-five thousand
dollars. with two or more sureties. or a
surety company, to be approved by the
state treasurer, cOnlltlDneJ IOF the Ialtn-
full discharge of the duties of their respect
i've offices There shall he assigned to said
bank commissioner suitable rooms in the
state capitol for conducting the business OF
said department.
Section g. The bank commissioner shall
devise a seal for the use OF his office, which
shall continue TO be the seal OF SAID DE-
partment A description of the seal, with
an impression thereof, shall be filed in the
office OF the secretary OF state
Section 4. 1t shall be the duty OF the
IL leo nd ha shall hpNsa flA
power by himself his deputy, or by any
examiner he may appoint for that purpose.
to examine, at least once In each year, the
cash bills collateralS, securities books OF
account condition and affairs OF each
bank savings association and private bank
doing business In this state For that
purpose he may examine on oath any OF
the officers. owners, agents, clerks, Gus
toners or depostors thereof touching the
affairs and business OF such Institution.
The bank commissioner shall examine, or
cause to be examined, any bank when re-
quested by the board OF directors OF such
bank. The bank commissioner shall also
ascertain whether such bank transacts IT'S
business at the place designated in the art
icles OF incorporation. and whether its husi-
ness Is conducted In the manner prescribed
by law.
or examiner shall examine a bank in which
he is Interested as stockholder, officer. en-
ployee or otherwise. No bank commission
err deputy or examiner shall examine q
bank located in the same village. city or
county with any bank In which he Is IN
terested as stockholder, officer, employee
or otherwise. The bank commissioner
deputy. and every clerk in his department,
and examiner, shall be bound by oath to
keep secret all OF the facts and information
obtained In the course of such examina-
tions. except so far as the public duty of
such officer requires him to report upon, or
take special action regarding the afairs OF
any bank. II any bank commissioner. dep
uty, examiner or clerk in such department.
shall disclose the name OF any debtor OF
any bank, or anything relative 10 the prl-
waite accounts or transactions or such oailk'
or shall disclose any fact obtained In the
course of his examination of any bank, eN-
cept as herein provided he shall he sun
ieCt upon conviction thereof, TO forfeiturs
of his office. and TO the payment or a hne
Of not less than one hundred dollars nor
more than one thousand dollars or imprls-
onment IN the state prison not less man
six months nor more than TWO years, or 10
both such fine and imprisonment.
section g. Whenever 1t shall appear from
the report OF any bank. or the BANK com
missioner shall have reason 10 believe, that
the capital OF any bank is impaired or re-
duced below the amount required bS law
IL shall be the duty OF the hank commls-
sioucr and he shall have me power 70 eN-
anime such bank to ascertain the tacts.
and I'm case he shall find such impairment
or reduction OF capital 70 require such
bank to make good the dehclencN 50 ~,
nearing If any bank shall refuse or Tan
for ninety DAYS after written notice 10
make good the deficiency So appearing or
found 10 exist, II shall be the duty OF 'he
hank commissioner. with the dpRFoNAl ot
~ attorney general 20 institute proceed
ings Tor the appointment OF receiver OF
said bank TO wind up its business In any
ease where the capital OF a bank SHAH
49, hacome impaired or reduced below
ths amount required by law, the board OF
directors of such bank shall have the pow,
or "a make pro rata assessment upon al.
=, tna atock of said bank % make good
snch dehciency. and may divide that the
amount OF such deficiency shall be due and
$50 a, directors which time shall be not
isss than ten days after notice of said az,
ssssment: and II any stockholder shall ran
or neglect TO pay the amount OF tne -
Easement against his stock. for ten ua9s
afIer The same shall have become ~ aaf