The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1898-01-03

such shares were then actually held.
So long. as any obligation of the bank
shall remain unsatisfied, the liability of
each stockholder shall extend to, but
not exceed in the whole, an amount
equal to the par Of his stock
20. If the said guaranty fund of 5 per
cent. OF all the notes outstanding shall
become impaired by reason of payments
made to redeem said notes as herein
provided. the Comptroller Of the Cur
rency shall make an assessment upon
all the banks, in proportion to their
notes then outstanding, sufficient to
make said fund equal to 5 per cent. Of
said outstanding notes.
Any bank may deposit any lawful
money with the Treasurer of the United
States for the retirement of any of it's
notes, or return it's own notes for can
collation.; whereupon the Comptroller
shall direct the repayment to such bank
of whatever sum may be the unim-
paired portion of said banks contribu-
ton to the guaranty fund on account of
said notes
Any portion of the guaranty fund
may be invested in United States bonds
in the discretion of the Secretary of the
Treasury
The taxes on circulation, provided for
in paragraph "a, as we'll as the interest
accruing from investment Of any part
Of the guaranty fund, shall be held in
the Division of Issue and Redemption in
gold coin or in United States bonds in
the discretion of the Secretary of the
Treasury, and shall be fund supple
mentary and in addition to the guaran-
ty fund, to be used only in case said
guaranty fund shall ever become insult
ficient to redeem any bank notes issued
hereunder, and it shall not be taken into
account in estimating the amount of as
sessments necessary to replenish said
guaranty fund or in repayments to
banks of their contributions to the
guaranty fund ~
80. The present system of national
bank note redemption should be contin-
ued, with a constantly maintained re-
demption fund of 5 per cent. in gold
coin, and with power conferred on the
Comptroller Of the Currency, with the
approval of the Secretary of the Treas
ury, to establish additional redemption
agencies at any or all Of the sub-treas-
uries of the United States, as he may
determine.
81. I'm substance) Notes to be re-
ceived by all national banks, and for
government dues except duties on i'm
| ports.
49, National banks shall hold reserves
| in lawful money against their deposits
| Of not less than % per cent, and Is per
cent. for the respective classes as now
provided by law, at least one-fourth Of
which reserve shall be in coin, and held
| in the vaults Of the bank. Neither the
5 per cent. redemption fund nor the
per cent. guaranty fund shall be
counted as part Of the reserve required.
| No bank shall count or report any Of its
own notes as a part of its cash or cash
| assets on hand.
49, Permit the organization of ma
tional banks with a capital stock Of $685.
| 900. in places of four thousand popula-
| ton or less.
"a. Provision should be made whereby
| branch banks may be established with
| the consent Of the Comptroller of the
| Currency and approval of the Secretary
| Of the Treasury.
az For the purpose of meeting the ex-
penses of the Treasury in connection
| with the national bank system, tax Of
1 One-elgQLl OIL L per Ceul- pei diiiiuili
upon its franchises as measured by the
amount of it's capital, surplus and undi-
vided profits, shall be imposed upon
each bank.
36. So amend existing laws as to pro-
| vide
(a) For more frequent and thorough
examination of banks.
| or For fixed salaries for bank exam
| iners.
(c) To provide for rotation Of exami-
ners.
(d) For public reports, regular or
| special, at the call of the Comptroller of
| the Currency.
| (e) To make it penal for any bank to
| loan money, or grant any gratuity, to
| an examiner of that bank, and penal
| for such bank examiner to receive it.
| 81. On substance.) Existing banks
| may accept provisions within one year.
3S. Un substance.) Existing banks