River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1898-10-20

y County surveyor IN place or BcldOn Eaton,
whose term Of office viii expire on the first
Monday Of January, A. ID. 1899.
Superintendent OF Schools in place Of J. f..
Shaw, whose term Of Office will expire on the
first Monday Of January, A. D. 1889
REVISION OF THE BANKING LAW.
Notice is further given. that at said
general election the following PROPOSE
ton is to be submitted to the people in
pursuance Of the requirements of Chapter
SOS, of the laws of 1897, which chapter
CHAPTER 3o3,. LAWS 1897.
An Act TO revise the laws authorizing
the business of banking.
CHAPTER 1.
The people of the state of Wisconsin.
represented in senate and assembly, do
enact as follows:
Banking Department
Section l. There is hereby established
In this state a banking department, which
shall have charge of the execution of the
laws relating to banks and the banking
business in this state. Such department
shall be designated as the state banking
department and shall be under the man
agement and control of a chief officer,
who shall be called the bank commits
sioner
Section 2. The bank commissioner shall
be appointed by the governor. by and
with the advice and consent of the senate,
and shall hold his office for the term of
five years. unless sooner removed by the
governor, for good cause, and by and
members OF the senate. He may APP
point deputy, and revoke such appoint
ment at pleasure. Such deputy shall
possess all powers, and perform the duties
attached to the office of the bank COM
missioner during vacancy in such
office, and during the absence or in
ability of his principal. The bank COM
missioner 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, IS
shall necessary.
the bank commissioner shall be three
thousand dollars per annum. The salary
OF the deputy and such clerks as may
be employed, shall be at such rate
per annum as the bank commissioner
shall decide. not, however. to exceed that
of the deputies and clerks of the several
bank commissioner, deputy and clerks
shall be paid monthly by the state
treasurer, upon 4 voucher Countersigned
by the secretary of state. vouchers for
the deputy and clerks salaries must be
first approved by the bank commissioner.
All actual and necessary travelling eX-
or clerks. incurred in the discharge of
their duties, shall be fully itemlzed upon
proper vouchers and certified in the order
Indicated for the salaries, and presented
to the secretary of state. If allowed, the
secretary of state shall cOuntersign them.
The state treasurer shall, upon the pre-
sentation of vouchers so allowed and
countersigned. pay the amount OF such
expense. Within fifteen da from the
the bank commissioner and las deputy
shall take and subscribe the oath of
office prescribed by the constitution, and
file the same in the office OF the secretary
of state The said bank commissioner
and his deputy shall each give to the
people of this state a bond IN the penal
sum of twenty-five thousand dollars with
two or more Sureties, or surety com
pany, to be approved by the state
treasurer, conditioned for the faithful
discharge of the duties Of their. respec-
-fFfr Ch "a n
said bank commissioner suitable rooms
In the state capitol for conducting the
business Of said department.
Section 8. The bank commissioner shall
devise a seal for the use of his office,
which shall continue to be the seal of
said department. a description of the
be filed in the office OF the secretary of
state.
bank commissioner, and he shall have the
power by himself his deputy, or any
examiner he may appoint for that pur-
pose, to examine, at least once in each
ties 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, customers or depositors
thereof touching the affairs and bust
ness of such institution. The bank com
missioner shall examine, or cause to be
examined. any bank when requested by
the board OF directors of such bank The
bank commissioner shall also ascertain
whether such bank transaCts its business
at the place designated IN the articles OF
INCORPORATION. and whether Its business
is conducted in the manner prescribed by
Section s. No bank commissioner, dep
uty or examiner SHAH examine pank
In which he is interested a 5 stoCkholder.
officer employee or otherwise No bank
commissioner, deputy or examiner shall
examine bank located IN the same
.eEf Ftsr " a
which he is interested as st0Ckholder.
officer. employee or otherwise. The bank
commissioner, his deputy. and every clerk
in his department. ana examiner, Shali
be bound by oath to keep secret all OF
the facts and information obtained IN the
course of such examinations, except so
far AZ the nuhIic duty of such officer re-
uuirts him to report upon. or take special
action regarding the affairs OF any bank.
If any bank commissioner. deputy, eX-
amiuor or clerk in SuCh department. Shall
disclose the name of any debtor of any
bank or anything relative to the private
accounts or transactions OF such bank, or
shall disclose any fact obtained in the
course of his examination of any bank,
except as herein provided. he shall be
feitilre of his office and to the payment
of fine of not less than one hundred
dollars nor more than one thousand DOL
lars, or Imprisonment IN the state prison
not less than six months nor more than
two years. or 10 both such fine and i'm
pTiSOuUeUt.
60, ~ reoort Of auv bank. or the bank
I.,,,J,,,i ~, shall have reason to be-
49, tb9f the CapitaI of any bank is
ir,naired or reduced below the amount
rs1,ifTed bv law. il shall be the duty
80 ne hank commissioner, and he shall
-, 49,. rfoy,.ar 10 examine such bank
~ gsearrair ths facts and In case he
E,fI ana surh iupairnent or reduction
,,,itgi ~ rag,lire such bank 10 make
,,,ni ar 5aticie1ry sr appearine. II any
So L,I rgf,,sr ~ f3fI Tor ninety DAYS
os s.lr y.ritttn notice to make GOOD The
5efiefs,'ry- so anncarine or found to exist.
ueHJlesSE - 49, tbe EarE coTn
y 49, ;,, itb ~ aDr,rov9l II tbe NJ
t,r,S es,Sr5i 70 institute PROCEEDINGS
fCr ne annointrnent Of a receiver of said
oas.N 49, ~ ranitai III 4 hank shall
49, -, i,,,,sfTeS or reduced below
tbs ,r,a,5rr recuIrcd bv law. the board