Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-10-13
and payable. the director. OF such bank


pay the amount Of the assessment against
said stock. The amount received from the
sale of said stock. less the cost and ex-
pense of such .ale shall be paid 10 the
original owner of such stock.
Section :. on becoming satisfied that
any bank has refused to pay its depositors,
IN accordance with the terms on when
such deposits were received, or that any
bank has become insolvent or that It's cap
ltal has become impaired, or that any bank
mas violated any or the provisions OF TINS
law, the bank commissioner may fortn-
with take possession OF the DOCKS, recoTdS
and assets of every description of such
bank, and hold the same, and such DOCKS
records and assets shall not be SUBJECT 10
any levies or attachments until court OF
competent jurisdiction can be applied TO
for the appointment OF receiver for such
bank, who under the direction Of the court,
shall take possession of the books. records
and assets of every description, collect all
debts, dues and claims, and sell or com.
pound all doubtful debts, and sell
all real and personal property on such
terms as the court shall direct and If nee
essary, enforce the Individual liability Of
stockholders. Such receiver shall pay over
all money by him received under the order
OF the court, and shall also make report TO
the bank commissioner, as often as requr-
ed by him. Of his acts and proceedings.
Section 3. In the event that any two
banks shall be doing business in the same
building, upon the same floor. and in such
close proximity as to interfere with the
proper examination OF either bank, the
bank commissioner may require either Of
said banks TO remove Its banking olhce 10
some other location, within such reasona-
bic time as may be fixed by the bank COM
missioner.
Section 9. All proceedings by any bank
to enlOlu the bank commissioner in the DIS
charge of his duties. shall be had in the
lSounty where said bank Is located, or IN
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 dlrec-
ton and supervision OF the attorney-geh-
eral
Section 10. 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 and of like effect as the original.
Section IL. During the month OF Deem
Der of each year. the bank commissioner
shall make an annual report to the gov
ernor 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 snail contain statement OF the con-
dtiOn OF every bank from which reports
have been received, with an abstract Oh
the whole amount OF capital returned OS
them, the whole amount of their liabilities,
the total amount OF resources, ana Specl-
Tying the amount of lawful money helu by
banks at the time of their several returns,
and shall give a tdDulated statement oil the
ItSOuIGeS anu lldblllNItS VI tdNll b'AitNi 'iNA
such other information as in his judgment
may be required. Such report shall also
contain u statement OF the banks whose
business has been closed during the year,
the amount of their resources and liablli-
ties, and the amount PAID 10 the creutOfs
thereof, also a statement OF any banks or
ganized during the year. and shaH also
give a list OF the stockholders, their resi-
dence, and the amount OF stock held by
each, and the names OF the directors and
officers of each bank. he snail also report
the names and compensation OF the clerks
employed by him, and the WnUlr amount
of the expense of the banking department
during the year preceding.
CHAPTER III.
BANKS
Section /. Any number of adult residents
of W Wisconsin, not less imam three may as
sociate to establish bank under this act,
upon the terms and conditions ana 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 than
two thousand and less than six thousand
Inhabitants; and shall not be less than my
thousand dollars in any village or city hay-
ing more than six thousand inhabitants.
according to the last official census.
Section ?. The persons SO associatins
shall make, sign and acknowledge written
articles OF Incorporation containing:
First A declaration that they associate
for the purpose of forming a banking cor
marathon uutlrr 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 uudar this act or under the laws
| of The ITnited States
third The village or city and county
| where sucb hank is 10 he located
| Fourth. The amount of capItal stock,
which shall he DIVIDED into shares of NOT
loss Than nftv nor more than one hundred
! dollars Zach.
1fth The period for which such bank
| is oreanlzed, not exceeding fiftv wears,
caf7fnr > s,,cb arricles of inc,r,,or, Inn
Nil ~, a>.a,'1rt in trinlic.ya nI,s II t,ni,,h
Ell - rS,,r'Iad IN thp o,t,re If n 'ee,,s.
~, - 49, IN me co,,ntv in which 7ha
ttet - I1,,l 80 sp"iH h., al ~ the
En- ~ liz hipk Cnnln,,sgioner ana one
Uni ~, all i' rf grt,,, of ~ s-ratS,'v
%
"a S'+''ln rrror mailing and 6liney Of the
49,. ~ i,FDrr0ratinp The hanls shan
al uUtC " 80 a,,'to ,,i lii'b Ill
pe(oi'tg 9 fJI!,iS,p ,I,e 49, "
n1Ee tie ~ t,s III ca9fr,te ,s.assar ~
ana proper 10 si'ec' us purpose anu CON-
HStsSt ~ NJ 80, a,I ta ,,,,l 10 s-,,oo =
an% Saf.-. ali arfions and I,'af,tTIs1s
aia ro,lit cey1@ TO- - S,1, a
ui1ue atppraI Darsnr
'e TS re baTsa = ro,nr,or .sal and alter
~ nav q N1''''''H'' H-s'A ehiN' '''NS'