River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1898-09-22


bank commissioner
Section .. All proceedings by any bank
10 enJoin the bank commissioner in the
discharge 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 provisions of this act, in which the
state, or any of its officers or agents,
shall be parties, shall be conducted under
the direction and supervision of the at
torney-geneTal.
Section 10. Copies Of all records and
papers in the office Of the bank com
missioner, certified by him, and authenti-
Gated by his seal of Office. shall be evil
dence IN all cases. equally and OF like
effect as the original.
Section II. During the month Of Deem
Der Of each year, the bank commissioner
shall make an annual report TO the
/ governor of the state, which report shall
/ be published and shah exhibit the con-
dition 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 report shall contain a state
ment OF the condition OF every bank
I 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 specifying the
amount of lawful money held by banks
at the time Of their several returns. and
SNAIL give tabulated statement OF the
( resources and liabilities of each bank
and such other information as In his
Judgment may be required. Such report
/
! banks whose business has been closed
/ during the year. the amount of their re-
sources and liabilities and the amount
paid 70 the creditors thereof; also state
mcnt of any banks organized during the
year; and shall also give list of the
stockholders. their residence, and the
amount of stock held by each. and the
names of the directors and officers of
| each bank. He shall also report the
names and compensation of the clerks
| employed by him, and the whole Amount
Of the expense of the banking depart
ment during the year preceding.
CHAPTER IL
Banks.
Section /. Any number OF adult resi-
/ dents Of Wisconsin, not less than three,
may associate to establish Il bank under
this act. upon the terms and conditions
and subject 20 the liabilities prescribed
IN this act. The aggregate amount of the
capita. stock of any bank shall not be
less than ten thousand dollars. in villages
or cities having less than two thousand
inhabitants; and shall not be less than
twenty thousand dollars, In villages or
cities having more than two thousand
and less than six thousand inhabitants;
and shall not be less than fifty thousand
dollars in any village or city having
more than six thousand inhabitants, ac-
Cording to the last official census.
section ?. The persons so associating
SHAH make, sign and acknowledge written
articles of incorpation containing:
First. a declaration that they associate
for the purpose of forming a banking
corporation under this act.
n.
name shall be in no material respect
similar 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 he divided into shares Of not
less than fifty nor more than one hundred
dollars each.
Firth The period for which such bank
Is
Section B. Such articles of incorpora-
tion shall be executed In triplicate, one
Of which shall be recorded in the office
of the register of deeds in the county in
which the bank is located. one shall be
hled in the office of the bank commits
sioner. and one shall be filed in the office
of the secretary of state.
Section 4. Upon making and filing of
the articles of Incorporation the bank
shall become a body corporate, and as
such shall have the following powers:
First. To 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 proceed
ings under its corporate name, to the
same extent as natural person.
Third. To have a common seal and
alter the same at pleasure.
Fourth. To elect or appoint all neCes-
sary officers, agents and servants define
their duties and obligations. fix their
compensation, dismiss them, fill vacancies
and require bonds.
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 manage
ment Of its property, for determining the
manner of calling and conducting Its
meetings the tenure of office of its
several officers: and such Others as shall
be necessary or convenient for the ac-
complishment Of its purpose.
Sixth To exercise. by its directors
duly authorized officers or agents, all
such powers as shall be necessary to
carry on the business of banking. by buy
ing disCounting and negotiating proms
sorry notes bonds, drafts, bills of eX-
change, foreign and domestic, and other
evidences of debt; by receiving COM
mCrcial and savings deposits under such
regulations as il may establish; by buy
ing and selling coin and bullion, and by
buying and selling exchange, foreign and
domestic. issuing letters of credit, and
by lOaning money on personal or real
security. as provided hereinafter.
Section .. No bank shall transact any
or necessarily preliminary to its organiza
ton. until it has been regularly author
lied by the bank commissioner to com
mence the business of banking.
Section g. The subscriptions to the
capital stock, and the direction of the
affairs Of the corporation prior to the
election of directors. shall be in con-
formity with the statutes of this state,
relating to corporations, regulating such
matters. so far as applicable At least
fifty per cent of the capital stock of
every bank shall be paid in, in cash be-
toiTF - .'. 80 20 rrr1eir11sr ~ me c,ni+aj
= l,,rI, b,rts sLeI he maid in in cash
~ Sura fnsfI,Iinants ~ 1T laast len
~ ~ No., ~ ~ U.hHia ~ Tho capif9i nav
pLia ~ tbn end Of Zach Succeeding month.
49, tbc tin1e II shau be autborized nv
~ IL ,,I,1,tss i1,,sr 70 ,,omr,ance b,,si-
49,. Ia ~ ,,a,,rrart of each install
st III - lr;tacd 70 ~ h1rig COM,
IItlt 9lL,el ~ "a -" - ai,er ~
.ii9S ~. "'NN' '' ~
the pahk. = So,
SeCtioh {. NutueNtI al (ISi'2 u NJ ~
poratloh are HItu WIN Wy 9a'tn ~,
bank TRANSMITTING me same ilo't ~. SilS
pdhk CptlInlSS lHHTI lll'{ at 80 - !, ~
cent OF us NaIi',,l Ias pyt uItS 70 it ~
ana ma SuNu 1alh .'T ool,l' -, T.eli
an OF ttlt pIoNlSl o. SlII9 - ~ ~
before the pauN Shalt Be dui nor Htu 70
slohet Snai examine iH'o tIie co.iut-lNt f
or such nShk' asCtl laIl lht a .ilott. ~
money pau ~ "a utl1 ~ a g ~ i5b
Ile NAM "!lN pa, ~ IL, i 80 -
OF l'S :, .liu s ~ I.i;,,s
mas CoiiIpi,ST i ~ ~ a.. nt{tl II r. enr9ro
~ -. ~ f - - T,,,,iit,'t, ~ mon e4Tb
~ tLtG "t2lII' - ,, Tiat e'icb hank
~ a t''i " - ,,,,,7ca business
- ID " ny et'ra, ,;i sLaiI foT+byTitb
lut 1,l'LN 49, - -. q - 49, i,is
give 70 SV'tt pIlih D." ~ - i,l, i
Hdnu anu "lA'ldI SCaI' lie - - ~ -,
authofl"rd 70 commence BUSINESS. ~
Said h2hk ne .g f,,, ~ ~
hcNe that the t"CkHol'iTlS ha ~ lltl ny
same Tor any otnet Ihan '.g lesllI.i@ I,
business contemplated ~ tnIS az ne
may. with the tdNlCC any tvIsellt " "
attorneE-EenSrai Wl'hhold tue cei IAiC"'e
htrelm mtl'i s1h ,,, .h,u o,,,sa tho
Ceruhcate issued hereunder, 70 pc pun
hSnea IN some ntMSpap pr ~ li'.vu ~, ~ III
village, city or county where s1ta oank
Is LVCa Stu, !" nm !; ~ u"4 -, , -