Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-09-01

vnoia amount az deposits, until such FUND
amounts to ten per cent. of the whole amount q
deposits, which fund shall be thereafter main.
tanned aud held in that ratio. to meet losses in
It's business from depreciation OF the securities
or otherwise
SECTION IL Ordinary dividends shall be
made every six months il the profits are sufii.
Gent To warrant II. On all sums which have
been on deposit for less than six months i'm.
mediately preceding the date of dividend. diyi-
bends snail toe paid pro rata AT the same rate
as for the seInl.anuual period except that no
dividend shall be paid for the fractional part of
a month or of a dollar
SECTION Is. Once in every term of III rec yea RS
II the net profits accumulated over and above
SAID guaranty fund and ordinary dividends
amounts 10 one per cent. of the deposits which
nave remained ia such corporation for one wear
theii next preceding, such net profits may be
divided among the dcpoSitors whose deposits
remained therein for one year at least then next
preceding, a. HueNtra dividend.
SECTION 10 II shall be lawful FOR such cor.
poTdtluh Ia purchase, hold aud convey such
real estate "a banks arr authorized by the law
oi TINS state 70 purchase, hold and convey, ex.
cept that such savings associations MAY pUr-
chase or build a bulldiEc !u which la carry on
lts own hu~iuPSS, hur shall not Invest tlu iaud
nhd building q sum exceeding ten ,.,uuSaud
dollars, except upon the cou>cHt asd approval
Of ttgr bank commissioner
SECTION 20 Every association formed here.
Under >hal possess the powers -n,l Toe subject to
the prosi>lun>uf tho general laws, relating tucor.
pufailonS, so far as the same maN bc applicable
and shall be- subject TO all of the provisions IT
thlS act relating 10 reports, examinations. hQui.
dauunS, powers. liabilities and iortctlurps, so
ration now organized and doing business as
such savings association, shall continue bust.
ness under this act, and shall bc sarct to all Of
It's provisions.
SECTION p, The directors. managers or trus.
tees shall annually appoint not less than two
auditors, who shall not be directors managers
or trustees 81 the corporation, who shall exam
ne the books accounts and securities belonging
=" such association, and make sworn state
lncni showing the true condition thereof, the
Total amount OF deposits, the whole number of
depositors the largest amount due to any one
depoSltor, the amount invested in loans on real
estate securities, the amount invested in stocks
and bonds, the amount of funds ON hand, the
names ul the corporatorS, trustees, and OF thu
other officers Of such Institution, ON the first day
OF January OF each year, which statement shall
be kept on file ia the office of such association,
and an attcsted copy Of the same shall be for.
warded 10 the bank commissioner, on'or before
ths first day of February of each year. {
CHAPTER V.
UNLAWFUL USE OF TERN RANK, ETC.
SECTION l. 1t shall he unlawful for any per,
son, co-partuership or corporation TO use tho
word bank, banking or " banker" or the
plural of any such words, in any other business.
or in connection with any other business than
that of the business of banks private banks aud
savings associations. Any person, co.pariner.
ship or corporation so unlawfully using said
words, or either of them, shall forfeit the sum ~
twenty-five dollars for each aud every day sad
person, co-partucrship or corporation shall
unlawfully use said words, or either OF them.
CHAPTER VI
MISCELLANEOUS.
SECTION !. The term bank. as used In this
act shall bc usirued to mean any Incorporated
banking institution which shall have been IN
corporated under the laws OF this state. as they
existed prior to the passage Of this act and To
such banking institutions As shall hereafter be.
come Incorporated under the provisions af This
act The terms private bank, private bank
NvnH q oh. i oil
strued To mean any person, firm, association or
corporation who shall use the words bank
banking. or " banking housc,' banker or
the plural OF any such words, upon any sign, all
vertIsement or designation of any place Of husi.
uess in this state or upon any poster bill hcad,
draft, check, note or bill of exchange, or on any
form of commercial paper, as tito, sign, notice
or designation. or who shall receive money or
funds for deposit or safe keeping regular
business, or who shall buy or sell EXCHANGE as
regular business and shall not hr organized as
provided In chapter ii. of this act, shall not
I've organized as a savings association, as pro.
vlded in chapter ~, Of this act, The term
savings association shall bc construed TO mean
any corporation, organized pursuant TO the pro-
visions of the act for the organization of savings
banks and savings societies, as such act existed
prior to the passage of this act, or Ia such cor
poratlons as shall hereafter incorporate as
savings associations under this act. The torn,
lawful money as used in this act, shall be
construed TO mean all coin, United States notes,
treasury notes. gold certificates. silver certif-
icates national bank notes, ard all other forms
Of money issued by, or which may hereafter DO
issued by or undcr the authority of the United
States as circulating medium, and shall also
be construed 10 mean any form of certificate
which Is now. or may hereafter be declared TO
be lawful money 10y any law of the United
States.
CHAPTER VII.
REPEATING CLAUSE.
SECTION /. All acts and parts OF acts Of which
this act Is amendatory, and all acts ar laws in
consistent with the provisions of this act, are
hereby repealed.
CHAPTER VIII.
SUBMISSION TO ELECTORS.
SECTION t. This act shall be submitted to thu.
prevail at the general election To be held ou the
Tuesday next succeeding the first Monday IN
November in the year \. d. lstlS At said cleo
tion ballot box stall be provided and kept by
the several boards uf inspectors therefor for re-
ceiviug the votes cast for or against this act.
The proper officers shall provide q separate bal.
lot for the electors to vote upon this act. Said
separate ballot shall contain. besides the usual
forms for the endorsement thereof and upon tho
face thereof the following words: - Banking
law ballot then uuGer said words the follow
ing words. " For the revised banking law as
passed by the legislature Of lsai. FolowIEs
which words slui, hc a square space for the mark
Ing Of cross; ana then under said last words
snail follow tic words: Against the rtyisi d
bankuc law ~ rn-scd by the legislature 81
ls9l.' Following "u,ch words shall be squatr
space for the making ~ a cross. and. uudAt
which Si'dll he tilr INSTRUCTION 10 the Nflrf
"lf You desire to vote In favor OF the revised
banking law, as passed 10y the Legislature of 1891
make a cross IN the top square: If You desire "a
vote against such revised banking law, make o
cross IN the bottom square \ cross made H.
| the top square shall he a vote for this act a
cross in the bottom square shall be vote
| against this act.
SECTION Il The canvass OF the vote for and
against this act, and the return thereof shall be
made by the proper canyassiug officers, within
| the same time and in the same manner nov
| provided by Law for the canvass and return 81
the votes cast at said general election, and tbs
result shall be declared by the board Of cauvasg
| ers at the same time and in the same manner o.
the result OF the canvass for state officers, and
| II it shall appear that a majority ~ the votes
cast at such election are IN favor Of this act OF
| for this att then this act shall become Law
| and take effect on the twentieth day Of Decem
| Der, 1898, and the fact that said majority oi
votes were cast for this act shall be promuga ted
| by the secretary Of state.
Approved April y, 1891
| - Given under my hand and ofiica
| ! Seal seal 40 the Capitol. in the City o
| l~~~~,) Madison. this lst day of August,
HENRY CASSON,
| Secretary Of State.
| To The County Clerk Of Iowa Co. Wisconsin