The Saint Paul globe., 1899-04-27

county. bears to the total number of days
stenographer was actually employed In
the trial OF causes for all the counties Of
the said judicial district. Each judge or
the district court, after having made an
appointment under this act shall on or
year after the passage Of this act, de-
termine the amount which said reporter
is entitled to receive from each county
In said district. and in determining such
amount said judge shall take as a basis
the number of days which each county
OF the judicial district actually employed
for the year Immediately preceding the
adoption of this act. and annually there
after bears to the total number of days
stenographer was employed in the trial
Of causes for the whole judicial district.
Upon making such determination said
judge shall file. copy thereof with the
district
Provided, that said reporter shall be
entitled to charge at the rate of eight
cents per folio of one hundred 900 woros
for transcripts of his said record anu
two cents per folio of any copy thereof
If ordered so It can be made at the same
time with said transcript.
Sec. 5. The order of a district court
judge making an appointment under this
act, shall be filed with the county auditor
of each of the counties composing the
judicial district for which such reporter
Is appointed; and before such reporter
shall enter upon the discharge of his dll-
t1eS ne snail make and subscribe an oath
that he will to the best of his knowledge
and ability faithfully perform the same,
a copy of which oath shall be filed with
. each of the auditors of the counties COM
posing the judicial district for which he
is appointed
Sec. 6. This act shall take effect and
be In force from and after the first day
OF the month next succeeding it's passage.
and all acts or parts Of acts now in force
in this state. inconsistent herewith, are
hereby repealed.
"a onfc cho
not apply to judicial districts containing
cities having a population exceeding 3d.
900 inhabitants, or affect any laws now
In force applying to such districts.
Approved April 11th, 1899.
CHAPTER 142-S. f. NO. Isl.
AN ACT to amend sections six 60. seven
90 and eight GS) of chapter one hun
dred and forty-five Q45) of the general
laws of Minnesota. for the year one
thousand eight hundred and ninetv-five
dS95), being an act to revise the laws
relating to banks of discount and de-
pp post 81 enacted >, ~, -,
State of Minnesota:
Section 1. That section six CO. of chap
ter one hundred and forty-five Q45 of the
general laws of Minnesota for the year
eighteen hundred and ninety-fivc 0S95) be
and the same is hereby amended so as to
read as follows
Sec. g. The affairs of each bank shall
be managed by board Of not less than
three directors, who shall be elected by
the stockholders, and hold office for one
year, and until their successors are elect
ed and have qualified. majority of the
board of directors shall constitute a
quorum for the transaction of business;
provided, that when the number of d.
rectors shall exceed nine they may once
In SIX months designate by resolution
nine members, any five of whom shall
constitute quorum. In the first instance
the directors shall be named in the ar
ticles prescribed in section two (2) of
a q mo hn16 ha-
tore the bank is authorized to commence
business by the superintendent and after
wards elected at the annual meeting Of
the stockholders each year; and if for
any cause an election is not had at that
meeting it may be held at a subsequent
meeting called for that purpose, of which
due notice will be given as provided in
the bylaws adopted by such bank. At
meeting of stockholders for election of
directors each share shall entitle the
owner to one vote for each director and
a Stockholder may vote at any meeting
of the corporation by a proxy in writing
signed by him. Every director must own
and hold in his own name not less than
five 90 shares of the capital stock of
such bank, except that in banks having
capital of fifteen thousand dollars or
less director must own and hold in his
own name not less than three (9), shares
of the capital stock of such bank; pro-
V1ded, that If the shares in any bank
are less than one hundred dollars in par
value, the directors shall hold shares of
first instance and three hundred dollars
in the second instance. Any director who
ceases to be the owner of the requisite
stock, or who becomes in any other meas
ure disqualified shall thereby vacate his
place. Each director shall take and sub
scribe an oath that he will diligently and
honestly perform his duties in such Office,
and will not knowingly violate or permit
to be violated any provisions Of this
act, and that he is the owner in good
faith and in his own right of the amount
of stock of the bank required by this act
to qualify him for such office, standing
in his name on the books of the bank OF
subscribed and paid for, and that the
same is not hypothecated, or In any way
pledged as security for any loan or debt.
The taking of such oath shall be duly
certified and noted in the minutes of the
records of the bank. The oath shall be
aminer, and shall be preserved in the
files in his Office. Any vacancy in the
board of directors shall be filled by the
remaining members Of the board, and the
directors so appointed shall hold office
until the next election.
Sec. 2 That section seven GD of chap
ter one hundred and forty-five Q45) Of the
eighteen hundred and ninety-five QS95) be
and the same is hereby amended so as
to read as follows:
Sec. T. The board of directors of a
bank may DECLARE a dividend of so much
of the profits of the bank after providing
for all expenses losses, interest and
taxes accrued or due from said bank, as
they shall judge expedient but before
any such dividend is declared not less
than one-fifth of the net profits of the
bank for the preceding half year, or for
such period as is covered by the dividend,
shall be carried to fund to be designat-
ed the surplus fund, until such surplus
fund shall amount to twenty per cent of
it's capital stock, and thereafter such
surplus fund shall equal twenty per cent
OF the capital stock of such bank and
whenever the same becomes impaired 1t
shall be reimbursed in the manner pro-
vided for its accumulation.
Sec. 3. That section eight (S) chapter
one hundred and forty-five Q45) of the
general laws of Minnesota for the year
eighteen hundred and ninety-five 0895) be
and the same is hereby amended so as to
read as follows:
Sec. s. The board of directors of each
bank shall annually appoint from its
members, an examining committee, whose
tion of the bank at least once every six
months or oftener if required: and such
committee shall report to the board, CIV
ing in detail all items included in the
son to believe are not of the value at
which they appear on the books and
records of the bank, and giving the value
of each of such items as In their judg-
ment they may have determined, and the
board shall cause said report to be record
ed in the minute books of the bank, and
a duly authenticated copy thereof trans
mitted to the public examiner.
Sec. 4. This act shall take effect and
be in force from and after It's passage
Approved April 18th. 1899.
CHAPTER 143-S. F. NO. 553.
AN ACT to prescribe method of pleading
and practice in certain municipal
courts.
Re it enacted by the Legislature of the
State of Minnesota: