River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1898-10-13

! ed ana QudHued. unless sooner removed
/ by the board Of directors.
Section H. Every bank shall Keep q
| stock book which shall at all times, dur
| ing the usual hours for transacting bust
! ness, be subject TO the inspection of the
| officers, directors and stockholders of the
| bank. Such stock book shall show the
f. name, residence and number Of shares
! held by each stakeholder. a refusal by
! the officers of such bank to exhibit such
| book 10 any person rlghuuliy demanding
/ inspection thereof. shall subject such Of
| hcer TO a forfeiture of fifty dollars. In
! all actions. suits and proceedings, such
/ book shall be presumptiVe evidence of
| the facts therein stated.
/ Section IL. The shares of stock of such
! bank shall be deemed personal property
| and shall be transferred on the books of
| the bank in accordance with the method
| corporations
Section 49, At all stockholders meet
| ings each share Of stock shall entitle the
| owner Of record to one vote. A stock
holder may vote at any meeting of the
| stockholders by proxy No president or
! cashier shall act as proxy for any stock
| holder
Section a. A bank may amend its ar
! ticles of association In any manner, not
| inconsistent with the provisions of law,
| at any time, by n vote of Its stockholders
! representing tWO-thirds of the capital
| stock, such vote to be taken at a meet
! ing called Tor that purpose. n copy of
| such amendment, certified by the presi-
/ dent and cashier. shall be filed as re-
! quired for articles of incorporation No
| increase Of capital shall be valid uutil the
| amount thereof has been subscribed and
! actually paid in. No reduction of capital
shall be made to less amount than is
| required under the provisions Of this act
/ for capital, nor be valid or warrant the
/ cancellation of stock certificates, or
! diminish the personal liability of stock
| holders, until such reduction has been APP
/ proved by the bank commissioner. Such
| approval must be based upon finding
| by him that the security of the existing
! creditors will not be impaired by the pro-
! posed reduction.
Section Is. A bank may purchase hold
| and convey real estate for the following
| purposes and no others:
First-Such as shall be necessary for
! the convenient transaction Of its bust
| ness, including with It's banking offices
| other apartments to rent as a source of
! income. No bank shall invest in a bank
/ ing office. including apartments connected
| herewith a sum exceeding twenty-five
| ler cent of its paid in capital; provided,
! that this Limitation shall not apply to the
present holdings of banks now doing
Second-such as shall be conveyed to it
| in satisfaction of debts previously con-
| tracted in the course of its business.
/ Third-SuCh as 1t shall purchase at sale
| on judgments, DEGREES, or mortgage fore
| closures under securities held by it; but
! bank shall not bid al such sale larger
| amount than is necessary to satisfy its
| debts and costs. No real estate acquired
| in the cases contemplated in the second
| and third subdivisions preceding, shall
! be held for longer time than five years.
| except an extension is granted by the
I bank commissioners. II SOCn extension be
not granted, il must be sold at private
1 or public sale within ninety days there
| after. Nothing in this section shall be
| construed to prevent q bank from loan
| ing money upon real estate security as
/ provided by law. Real estate shall be
| conveyed under the corporate seal of the
! bank and the hand of the president or
vice-president and cashier or assistant
cashier.
Section 16. Every bank shall make to
| the bank commissioner not less than
! three reports during each calendar year.
! at such times as the said commissioner
| shall require the same. according to the
! forms which he shall prescribe and
| furnish. Such forms shall conform as
| nearly as practicable to that now required
| of national banks including the schedules
/ Such reports shall be signed and verified
| by the oath or affirmation of one of the
| officers of such bank and attested by at
! least two OF the directors. Such report
! shall exhibit in detail and under proper
! heads, the resources and liabilities of the
! bank at the close of business of any past
day, by the bank commissioner specified
| and shall be transmitted to said bank
! commissioner within ten days after the
! Such reports shall be published by the
| bank in newspaper in the village or
| city or county, where such bank is
! located, in such condensed form as may
1 be prescribed by the bank commissioner
! Proof of publication shall be furnished
/ to said bank commissioner At least once
| each year every bank shall report to the
| bank commissioner, on call by him,
| list of it's stockholders their residence,
! anu the amount OF STOCK IlGiu ny tdCif
! which report shall be signed and verified
! by the oath or affirmation of one of the
| officers of said bank. The bank com
| missioner shall also have the power to
] call for special reports from any bank
| whenever in his judgment the same is
! necessary to inform him fully of the con-
dition of such bank.
| Section II. Every bank failing to make
| and transmit to the bank commissioner
/ any Of the reports required by this act,
! shall be subject TO forfeiture OF one
/ hundred dollars for each day after the
/ time required for making such reports.
/ Whenever any bank fails or refuses to
pay the forfeiture herein imposed for
! failure to make and transmit such report,
| the bank commissioner is hereby author
lied to institute proceedings for the re
| coVery of such forfeiture.
Section IS. Whenever any officer of a
! bank shall refuse to submit the BOOKS,
| papers and concerns OF such bank 10 me
| inspection of the bank commissioner, his
| deputy or examiner appointed hereunder,
! or refuse to be examined on oath touch
/ ing the concerns of the bank the bank
! commissioner may, with the approval of
the attorney-generaL institute proceed.
1 ings for the appointment of receiver OF
| such bank to wind up Its business.
| Section 10. Every officer or employee If
| any bank. required by law to take any
| oath or affirmation, who shall wiltully
swear or affirm falsely upon any material
matter, shall be deemed guilty of per-
| jury and upon conviction thereof. shall
! be punished as provided by the laws of
| this state for the punishment of perjury
| Section 90. Any bank organized under
! this act may reOrganize under the laws
! Of the United states as national bank.
! AS soon as such bank shall have OBJ
! tanned the certificate from the comptroller
! of the currency, authorizing 1t to com
| mence business under the United States
! banking law, such reOrganized bank shall
! take and hold all of the assets, real and
! personal, of such bank organized under
! this act. subject to all liabilities existing
/ against said bank organized under this
| act at the time of such reorganization.
! Section p. Any national bank author
! lied to dissolve, and which shall have