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

charge of his duties shall be had in the
county where said bank Is located, or IN
the supreme court of this state. All suits
and proceedings arising out OF the pro
visions of this act, in which the state, or
any OF Its officers or agents, shall be par
ties, shall be conducted under the direc-
ton and supervision OF the dttorney-Sen-
eral.
Section 10. Copies of all records and pa
pers in the office of the bank commissioner,
certified by him. and authenticated by his
seal of office, shall be evidence In all cases.
equally and of like effect as the original.
Section IL. During the month OF Deem
Der of each year. the bank commissioner
shall make an annual report to the gov
ernor of the state, which report shall be
published and shall exhibit the condition
OF the various banks OF this state, as OF the
day of the last report made TO the bank
commissioner by such banks, and such re-
port shall contain a statement of the con-
dition of every bank from which reports
have been received, with an abstract of
the whole amount of capital returned by
them, the whole amount of their liabilities,
the total amount of resources. and speci-
flying the amount of lawful money held by
banks at He time of their several returns,
and shall Give a tabulated statement OF the
resources and Liabilities of each bank, and
such other Information as in ms judgment
may be required. Such report snail also
contain statement OF the banks whose
business has been closed during the year
the amount OF their resources and liabiii-
ties and the amount paiu TO the creditors
thereof; also statement OF any banks or
ganized during the year; and snail also
give list OF the stockholders, their resi-
dence, ana the amount of stock held by
each, and the names OF the directors ana
officers of each bank. He shall also report
the names and compensation OF the clerks
employed by him, ana the Whoie amount
of the expense of the banking department
during the year preceding.
CHAPTER IL.
BANKS.
Section l. Any number of adult residents
of Wisconsin, not less than three may as
sociate to establish bank under this act.
upon the terms and conditions and subject
to the liabilities prescribed In this act. The
aggregate amount OF the capital Stock OF
any bank snail not be less than ten thou
sand dollars, in villages or cities having
less than two thousand Inhabitants; and
shall not be less than twenty thousand dol
lars. in villages or cities having more than
two thousand and less tnan SIX thousand
inhabitants; and shall not be less than nifty
thousand dollars in any village or city hav-
ing more than SIX thousand inhabitants
according to the last official census.
Section 3 The persons SO associatins
shall make sign and acknowledge written
articles of incorporation tanning:
First. declaration that they associate
for the purpose OF forming banking cor
poration unutr this act
Second. The name of such bank. Such
name shall be in no material respect SINH
lar to the name OF any other bank In the
same county. whether such other bank be
organized under this act or under the laws
OF the United States.
Third. The village or city and county
where such bank is to be located
Fourth. The amount OF capital stock
which shall be divided into shares OF not
less than nifty nor more than one hundred
dollars each.
Fifth. The period for which such bank
is organized not exceeding fifty years.
Section 3. Such articles OF Incorporation
shall be executed in triplicate, one of which
shall be recorded in the oInce of the regis
far nf n ne
bank is located one shall be filed IN the
office of the bank commissioner, and one
shall he filed in the office OF the secretary
OF state.
Section l. Upon making and hling of the
articles OF Incorporation the bank shall
become a body corporate, and as sSch snail
have the following powers.
First.sTo make all contracts necessary
and proper TO effect its purpose and con
duct its business.
Second To sue and be sued. TO appear
and defend in all actions and proceedings
| under its corporate name, to the same ex-
tent natural person.
Third. To have common seal and alter
the same at pleasure.
Fourth. 70 eject or appoint all necessary
officers agents and servants, define their
duties and obligations fix their compensa
ton, dismiss them, MI vacancies ana re-
Fifth 10 make. amend and repeal by
laws and regulations. not Inconsistent with
law or its articles of organization, for its
own government. for the orderly conduct
of its affairs and the management of its
property, for determining the manner OF
calling and conducting its meetings, the
tenure OF office OF its seN erai oincefs, ana
such others shall be necessary or con
venient for the accomplishment of its pur-
pose.
authorized officers, or agents, all such
powers as shall be necessary to carry on
the business OF banking 10y buying, DIS
counting and negotiating promissory notes,
] foreign
and domestic, ana other evidences OF debt,
10y receiving commercial and savings de
posits under such regulations as II may es-
tablish by buying and selling coin and
bullion, and by buying and selling eN-
change foreign and domestic, issuing let
tiers OF credit and by loaning money on
personal or reai security, as provided mere
section s. No bank shall transact any
business, except such as is incidental or
necessarily preliminary TO It's organization,
unul IL has been regularly authorized by
the bank commissioner 20 commence the
business of banking.
Section g. The subscriptions TO the capt
tai stock ana the direction OF the affairs
OF the corporation prior 10 the election of
directors. shall he IN conformity with the
statutes OF this state, relating TO corpora
tions regulating such matters, 50 far as
aunlicable At least fifty per cent OF the
capital stock OF every bank shall be paid
in in cash before IL shall be authorized to
commence business, and the remainder OF
the capital Of such bank shall be paid in
In cash ia monthly installments of at
least len per cent on the whole OF the capt.
tai. payable al the end OF each succeeding
month from the time II shall be author
ized by the bank commissioner 10 COM
mence business, and the payment Of each
installment shall bs certified TO the bank
commissioner, under oath, bS some oHceT
OF the bank.
Section :. Whenever articles Of lncor-
roration are filed with the bank commits
sioner as herein provided. and the bank
,FrNsy Ia urrN4 hos hA hap
commissioner that at least fifty per cent OF
its capital has been duly paid IN, and that
such bank has complied with all Of the pro-
visions OF this act required before the
hank shall he authorized to commence bust
ness the hank commissioner shall examine
into the condition of such bank ascertain
the amount OF money paid In on account
OF Its capital. the aams and place Of rssi-