Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-10-06


cashier, officer. teller clerk or agent of any
bank or savings association who emhezZes,
abstracts or wifully misapplies. any OF the
moneys, funds. credits, or property OF the
bank or savings association, whether own
cd by II or held in trust or who, without
athority of the directors. ISSUES or puts
forth any certificate of deposit, draws any
order or bill of exchange, makes any ac-
ceptance, assigns any note. bond, draft,
Dill or exchange, mortgage, judgment or
decree, or who makes any false entry in
ar" book report or statement of the bank,
VIII inteh: In either case 10 tnJure 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 assocla-
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. If 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 OF
this act, and after a warning from the
bank Commissioners shall fail TO 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. II shall be the
duty of the bank commissioner, with the
consent of the attorney general to inst-
/
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
and 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 col
| lateral security shall not be personally liza
Bile as stockholders, but the assets or
| 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 II Nv
ing or competent to act, and the person
pledging such stock shall be deemed the
stakeholder and liable under this section
Such liability shall continue for sixty days
after any transfer of stock.
Section IS. Whenever any deposit shall
be made In any bank by and in the name
of any minor or female. being or thereafter
| becoming a married woman, the same SHAH
| be held for the exclusive right and beneht
of such minor or female and free from
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 shal 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 by
any person in trust for another and no
I
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 for
whom the said deposit was made.
Section 81. 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 profits OF a bank
shall not he taxed, but the shares OF capt.
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 deducting thercfrom the
real estate owned by the bank The tax OF
any shareholder not residing in the taxing
district of the bank, If unpaid at the time
for returning the unpaid tax list to the
county, may be paid by the bank, ana such
payment shall constitute a first lien upon
the shares so taxed. Any bank may pay
the taxes upon all Of the shares of It's
shareholders. and deduct such tax from Its
earnings.
bank may be served upon any officer OF
said bank In the county where its business
office is located.
Section SO In the event that the con-
gress 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
with any such act of congress, and shall
have the power 10 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 circula ting notes.
Section 40 The provisions OF this act
shall apply to and goyen all banks organ
lied and now existing within this state,
and the powers privileges, duties and re-
strictons 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-
lions heretofore had, pursuant 10 any pro-
visions of law In 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 its 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 l. 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, either by
signs. circulars, letter heads, or printed
matter OF any description or any such per-
son, partnership or corporation. who
shall receive money or funds for deposit or
safe keeping as 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
private bank and as such shall he subject
to the provisions of this act so far as the
same shall be applicable And every such
person co-partnership or corporatio shall
make reports and be subject TO eNamina-
ton the same as banks under this act
And every such person, co-partnership or
corporation shall maintain the reserve re-
auired OF any bank under similar cOndi-
ton, and shall keep a separate set of books
OF account relating 10 such banking bust
ness and no entries shall be made upon
said books relating TO any other class or
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 10 Keep the reserve required under
4. ha