Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-09-15
MINERAL POINT


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 GALE shall he paid to the
original owner of such stock
Section Z. On becoming satisfied that
any bank has refused to pay its depositors
In accordance with the terms on which
such deposits were received or that any
bank has become insolvent. or that its cap
ital has become impaired, or that any bank
has violated any Of the provisions of this
law, the bank commissioner may forth
with take possession OF the books. records
and assets Of every description of such
bank. and hold the same and such books
records and assets shall not be subject 10
any leVies or attachments, until a court of
competent jurisdiction can be applied to
for the appointment OF a 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
the bank commissioner, as often as requir-
ed by him, of his acts and proceedings.
Section s. 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
said banks TO remove its banking office to
some other location, within such reasona-
BILE time as may be fixed by the bank com
missioner.
Section 9. All proceedings by any bank
to enjoin the bank commissioner In the dis
charge of his duties, shall be had in the
county where said bank Is located or in
the supreme court of this state. All suits
ana proceedings arising out of the pro.
visions of this act, in which the state, or
any of its officers or agents, shall be par
-
ton and supervision of the attorney gem
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 Decem-
Der OF each year, the bank commissioner
shall make an annual report to the gov
elnor of the state, which report snail he
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 statement OF the con-
ditiCn Of every bank from which reports
have been received, with an abstract or
the whole amount Of capital returned by
them, the whole amount Of their Liabilities,
the total amount OF resources, ana specl-
Tying the amount OF lawldl money held by
banks at the time of their several returns.
and shall give tahulateu statement OF me
resources and liabluties OF each bank, ana
such other Information DIS in his judgment
may be required such report SHAH also
contain statement OF the banks whose
business has been closed during the year,
the amount OF their resources and labill-
ties, ana the aIuount paiu to The cfeditors
thereof. also q statement of any banks or
gaulIcd during tnr year, and snail also
give list OF the stockholders, their resi-
dente ana the amount of stock held by
each and the names OF the directors ana
oiuccrs of each bank lie shan also report
the names and compensation OF the clerks
employed by him, and tne Wnoie amount
of the expense Of the banking department
during the year preceding
CHATTER IL.
BANKS
Section l. Any number of adult residents
of " .sconsn, not less tnan three may as
sociatr to establish a bank under this act.
upon the terms ana conditions and subject
to the liabilities prescribed IN this act. The
aggregate amount OF the capitu STOCK oil
any bank shall not be less than ten thou
sand dollars, In villages or cities having
less than two thousand Inhabitants, and
shall not be less than twenty thousand dol
lars, In villages or cities having more tnan
two thousand and less than SIX thousand
Inhabitants; and shall not he less than htty
thousand dollars in amy village or city nav
ing more than sIN thousand inh1 D!tants,
according TO the last official census.
Section 2, The persons so associating
shall make, sign ana acknowledge written
articles of Incorporation containing.
First declaration that they associate
tor the purpose OF forming a banking cor
porauou unuvr TINS act
Second. The name of such bank. Such
name shall be in no material respect SINH
lar TO the name OF any olner BANK IN the
same county, whether such other BANK be
organized under this act or unuer the laws
Of the United states.
Third. The village or city ana county
whore such bank is to be located.
Fourth The amount Of capital stock,
which shall be divided INTO sndres OF not
less than htty nor more than one hundred
dollars each.
lIfh, The period for which such bank
Is organized. not exceeding nifty years.
Section ,. Such articles of incorporation
shan uc executed IN ulpNcate, one OF which
snail be recorded IN the ONCE of the regis
ter of deeds IN the county In which the
bank Is located. one sh,ul be filed IN the
Office OF the bank commissioner, ana one
shall Dee flied IN the office OIL the secretary
OF state
Section 4 Upon making and fling OF the
articles of Incorporation the bank shall
become body corporate, and as such sndll
have The following powers.
FIRST To make al contracts necessary
and proper to euect its purpose and con-
Second. 10 sue and be sued, to appear
and defend In all actions and proceedings
under It's corporate name, TO the same ex-
tent as a natural person.
Third TO have a common seal ana alter
the same at pleasure.
Fourth. no elect or appoint all necessary
officers, agents and servants, define their
duties and obligations. tN their cOmpensA-
ton dismiss them, Ill vacancies and re-
Quire bonds.
Fifth. 70 make. amend and repeal by
laws and regulations. not inconsistent with
law or its articles Of organization. for its
own government, for The orderly conduct
OF its affairs and the management of its
property, tor determining the manner OF
calling and conducting its meetings, the
tenure OF office OF It's sen cral oiuveTs, and
such others as shall he necessary or con-
yeuient for the accomplishment OF It's pur-
pose.
Sixth. To exercise, BY its directors, duly
authorized officers or agents all such
powers as shall he necessary 10 carry on
lhf business of banking. 10y buying, DIS
counting and negotiating promissoIy notes,
bonds. drafts. bills of exchange, foreign
and domestic, and other evidences OF debt,
los receiving commercial and savings de-
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