Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-09-29
L fore be On nj tal L. f..lI.

/
lore the capital stock is fully paid.
Section 8. Every president, director,
| cashier, officer. teller. clerk or agent OF any
| bank or savings association who emoezzles,
| abstracts or wilfuly misapplies, any of the
| moneys. funds. credits. or property OF the
| pank or savings association, whether own
ca oy II or held In trust. or who. without
athority of the directors. ISSUES or puts
| torth any certificate Of deposit, draws any
| order or bill OF exchange, makes any ac-
eeptance, assigns any note. bord, draft,
| olll OF exchange, mortgage, Judgment CIR
| decree or who makes any false entry IN
| any book. report or statement of the bank,
| with inteh. In either case TO injure or de-
| fraud the bank or savings association or
| any person Or corporation, or to deceive
| any officer of the bank or savings assoCia-
| ton, or any agent appointed TO examine
| the AFFAIRS OF such bank or savings assoc Ia
| ton; or any person who, with like intent,
| aids or abets any officer, clerk or agent in
| the violation of this section, upon convic-
| ton thereof. shall be imprisoned in the
| state prison not to exceed twenty years.
Section 81 II the board of directors, or
| quorum thereof of any bank shall know
ingly violate, or knowingly permit any of
| the officers agents or employees OF the
| bank, TO violate any OF the provisions or
| this act and after warning from the
bank commissioner shall fail 10 make good
| any loss or damage resulting from such
acts, or continue such conduct. II shall
| constitute a ground for the forfeiture OF
| the charter of such bank. 1t shall be the
| duty of the bank commissioner, with the
consent of the attorney general, to insti-
tute proceedings TO enforce such forfeiture,
| and to secure a dissolution and a winding
up of the affairs of such bank.
| Section 80. The stockholders of every
| bank shall be individually liable, equally
ana ratably, not one for another, for the
benefit of the deposltors in said bank, TO
the amount of their stock at the par value
| thereof, in addition 20 the amount invested
In said stock. But persons holding stock
| as executors. administrators, guardians or
| trustees. and persons holding stock as coll
| he nDrSOnally
| bic as stockholders, but the assets OF
| funds In their hands constituting the trust.
shall be liable to the same extent as the
| testator, intestate ward or person inter
| ested in such trust fund would be If ltv-
| ing, or competent to act. and the person
| pledging such stock shall he deemed the
| stakeholder and liable under this section.
| Such liability shall continue for sixty days
after any transfer of stock
| Section 36. Whenever any deposit shall
| be made in any bank by and In the name
of any minor or female. being or thereafter
| becoming married woman, the same shall
| be held for the exclusive right and henent
the control or lien Of all persons whatso-
| ever, except creditors, and shall be PAID,
with any interest due thereon, to the per-
son in whose name the deposit shall have
| been made and the receipt OF such minor
| or female shall be a sufficient release or
| discharge for such deposit to the bank.
Whenever any deposit shall be made 10y
| any person in trust for another. and no
| other or further notice of the existence and
terms of legal and valid trust shall have
been given in writing to such bank, in the
| event of the death of the trustee, the same
or any part thereof and any interest due
| thereon, may be paid to the person Tor
| whom the said deposit was made.
Section g. All real estate owned by any
| bank shall be taxed the same as other real
estate in the town, village or city where
such real estate is situated. The capital
surplus and undivided prohts Of bank
| shall not be taxed. but the shares of capi-
| tai stock shall be taxed to the sharehold-
ers of such stock where the bank is loca ted.
| The value of the shares to be determined
| the same proprtionately as that of other
| property. after dedIcting therefrom the
real estate owned by the bank. The tax of
| any shareholder not residing In the taxing
| district of the bank, If unpaid al the time
for returning the unpaid tax list to the
| county may be paid by the bank and such
| payment shall constitute first lien upon
the shares so taxed. Any bank may. pay
the taxes upon all Of the shares of its
shareholders. and deduct such tax from Its
earnings.
Section Ss. Legal process against any
| bank may be served upon any officer or
said bank in the county where its business
| office is located.
Section 80 In the event that the con-
| eress of the United States shall hereafter
provide for the establishment of circulation
| by banks organized under state laws any
| bank organized or doing business under
this act shall have the power to issue CIR
| culating notes or currency, in accordance
| with any such act OF congress, and shall
have the power to avail itself of the pro
| visions Of any such act of congress. the
| provisions of this section shall not be con-
| strued to permit any savings association,
| or private bank or banker, or any loan or
trust company or any other corporation,
to issue circulating notes.
Section 40. The provisions OF this act
shall apply to. and goven. all banks organ
lied and now existing within this state,
| and the powers, privileges duties and re-
strictions conferred and imposed upon any
| bank, existing and doing business under
the laws OF this state, are hereby abridged,
enlarged. or modified as each particular
case may require, to conform to the pro-
visions Of this act Nothing in this act
shall be construed to affect the legality OF
investments HERETOFORE made, or to transac-
| tons heretofore had pursuant to any pro-
visions of law I'm force when such invest
ments were made or transaction had. All
banks now existing and doing business
within this state shall, on or before the first
day OF July next following the time when
this act becomes operative, alter or amend
its articles OF organization. If necessary, TO
comply with the provisions OF this act. and
shall by said time make It's business con-
form In all respects to the requirements or
this act except where such requirement Is
expressly waived herein.
CHAPTER III.
PRIVATE BANKS
Section /. Every person, co-partnership
or CORPORATION doing business in this state.
or that may hereafter be doing business in
this state which shall advertise as a bank
or as doing a banking business, eltner Dy
signs, circulars letter heads, or printed
matter of any description; or any such per-
son. CO. partnership or corporation. who
shall receive money or funds for deposit or
safe keeping a regular business or who
shall buy or sell exchange as regular
business shall be deemed to be doing a
banking business, and shall be known as a
private bank and as such shall be subject
to the provisions Of this act so far as the
same shall be applicable. And every such
person co-partnership or corporation shall
make reports and be subject to eNamina-
ton the same as banks under this act
And every such person, eo-partnership or
CORPORATION shall maintain the reserve re-
oured OF any bank under similar condi-
ton and shall keep separate set of books
of account rela ding to such banking bust
ness, and no entries shall be made upon
said books relating 10 any other class OF
business Such set Of books shall be sub
iect at all times 10 examination by the
bank commissioner. his deputy. or person
appointed by him. Upon the refusal OF
any such person, co-partnership or corpor-
alton to keep the reserve required under
this act or upon the refusal to keep the
separate books OF account as required here
under, or upon the refusal to make the re-
ports required by this act or upon the re-
fusaI TO submit the books Of account, pa
pers securities and cash TO the examlna-
TT NT-u