Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-10-20

the supreme court OF this state. All suits
and proceedings arising out of the pro
visions OF this act in which the state, or
any OF its officers or agents, shall be par
ties, shall be conducted under the direc-
ton and supervision OF the attocaey-gen-
eIal
Section TO- Copies of all records and pa
pers in the Office of the bank commissioner,
certified by him. and authenticated by his
seal Of office, shall be evidence in all cases,
equally ana OF like effect as the original.
Section IL. During the month of Deem
Der of each year, the bank commissioner
shal make ali annual report TO the gov
elnor of the state, which report shall be
published and shall exhibit the condition
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 re-
port shall contain a statement OF the con-
dition of every bank 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 speCi-
flying the amount of lawful money held by
banks at the time of their several returns,
and shall give a tabulated statement OF me
resources and liabilities OF each bank ana
such other Information as in his judgment
may be required. Such report shall also
contain statement OF the banks whose
business has been closed during the year,
the amount of their resources and liabili-
ties, and the amount paid 10 the creditors
thereof; also statement OF any banks or
ganized during the year, and shall also
q
denCe, and the amount of stock held by
each, and the names OF the directors ana
officers of each bank. lie shall also report
the names and compensation of the clerks
employed by him, and the whole amount
of the expense of the banking department.
during the year preceding.
CHAPTER IL.
BANKS.
Section /. Any number of adult residents
OF Wisconsin, not less than three, may as
sociate to establish bank under this act,
upon the terms and conditions and subject
to the liabilities prescribed IN this act. The
aggregate amount of the capital stock OF
any bank shall not be less than ten thou
sand dollars, in villages or cities having
less than two thousand Inhabitants; ana
shall not be less than twenty thousand dol
lars, in villages or cities having more thdn
two thousand and less than six thousand
inhabitants; and shall not be less than nifty
thousand dollars In any village or city haV-
ing more than SIX thousand inhabitants.
according to the last official census.
Section 3 The persons so associating
shall make, sign and acknowledge written
articles of Incorporation containing;
First. declaration that they associate
for the purpose of forming a banking cor
poraton under this act,
Second. The name of such bank Such
name shall be in no material respect SINH
lar 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 be divided into shares OF not
less than fifty nor more than one hundred
dollars each.
Fifth. The period for which such bank
is organized not exceeding fifty years
Section 3. Such articles of Incorporation
shall be executed in tripllcdte, one OF which
shall he recorded in the Office Of the regis
ter of deeds in the county in which the
nh - tod
office of the bank commissioner, and one
shall be filed in the office OF the secretary
of state.
Section l. Upon making and filing of the
articles Of Incorporation the bank snail
become a body corporate, aud as such snal
have the following powers
First. To make all contracts necessary
and proper to effect its purpose and con-
duct its business.
Second. r; sue and be sued, % appear
and def, a all actions ana r. Jceeungs
under corporate name, t. sIk same eN-
tent d. natural person
Third To have a common seal aud alter
the same at pleasure.
Fourth TO elect or appoint all necessary
officers agents and servants, define their
duties ana obligations, Tx their cOmpensd-
ton, dismiss them, MI vacancies ana re-
quire bonds.
Filth. To make, amend ana repeal by
laws and regula lions. not inconsistent with
law or it's articles Of organization for It's
own government, for the orderly conduct
property, tor determining the manner OF
calling and conducting its meetings, the
tenure of Office OF It's seN erdl officers, ana
such others as shall be necessary OF CON
yenient for the Accomplishment OF us puf-
sixth. To exercise. by its directors, duly
authorized officers or agents, all such
powers as shall be necessary TO carry on
In business OF banking. By buying. DIS
counting and negotiating prOmissory notes,
bonds, drafts, bills Of exchange, foreign
and domestic, ana other evidences OF depli
by receiving commercial and savings de-
pOsits under such regula tons as II may eS-
tablish, by buying and selling coin ana
bullion and by buying ana selling eN-
change, foreign ana domestic, issuing let
tiers OF credit, and by loanins money on
personal OF real security, as provided mere
matter
business. except such as De- incidental Or
necessarily preliminary 90 its organization,
until ii has been regularly authorized by
the bank commissioner 90 commence the
business OF banking.
section 6. The subscriptions TO the capt
tai stock and the direction Of the affairs
OF the corporation prior 70 the election OF
directors shalt be lu conformity WIN The
sta tutes Of this state relating 70 corpora
ti0~s regulating such matters, 50 far as
auplicable At least nifty per cent Of the
apital stock OF every bank shall DE paid
in In cash fore It shall be authorized TO
commence business, ana the remainder OF
the capital of such bank sh1l De paid in.
in cash In monthly iustallments Of at
least ten per cen, on the whole Of the capt
al uayable al the end OF eaCh succeeding
r1onih from the time V shall be author
tzsd bv the bank commissioner 10 com
rnaDce business, and the payment ~ each
installuent shall be certified to the bank
Commissioner. under oath ~ some ofiicer
OF the bank.
section T. Whenever articles 81 incor-
roratIon are filed with the bank commits
sI,51er. as herein provided, and the bank
-. r,sflil tfrs7 the same notifies the bank
Urn missioner that al least City per cent Of
It's csuJtal mas been duly paid lH, and that
such bank has complial "i.A ~ y the PIP
visions Of this asi req il.f3 t2te ihS
bank shall be authorized ~ s5a menace sAst.
ness. The bank commissioner >hail examine
i-to the condition " 7uch pa@A. ascertain
no amount 81 money PAID ~ Sd 8otJuut
Of its capital, The name aul place u resi-