The Alaska citizen., 1913-04-07

amount exceeding one thousand dol
lars. without first having obtained
the approval of such loan from the
board of directors of such bank or
one of the owners thereof
Every bank dong business in The
Territory of Alaska shall have on
hand al all times in available funds
consisting of money. gold bullion. or
amounts due from banks, approved
as reserve depositaries by the sup.
erintendent OF banks not less than
thirty per cent of its demand liahili
ties: at least two-thirds of such re.
serve percentage shall he in actual
cash on hand; cash items shall not
be considered as any part of such
reserve.
No corporation. foreign or domes-
tie. partnership or individual shall
transact any banking business in
Alaska unless. in the case of corpora
ttons. such corporation have paid
up capital of al least twenty-f We
thousand dollars in lawful money of
the United States; and in the case
OF a partnership or individual. unless
such partnership or individual has
a. tHdtiH iiN'sltu III SutH ndihllS
business IN cash. the sum OF twenty
I've thousand dollars lawful money of
h United States.
1t snail be the duty OF every
bank in the Territory of Alaska,
upon request. TO report to the super
intendent of banks the name of every
person not known to be living who
appears by the records of bank to
have sum of money on deposit
therein. together with the amount
OF such deposit; provided. this sec
ton shall apply only to deposits made
i've years or more prior TO the
making OF such report winch have
not been added to or reduced by
withdrawal; and 1t Is hereby made
the duty OF the executive officer OF
each bank upon request. TO furnlSh
such report The superintendent OF
banks ShaIl theh proceed eohcerhlhe
such deposits, as provided Ill chapter
II. part 1--we, carriers Code OF Alas
ka.
Every ballk dolhg business III the
Territory OF AifsSa shall pay. al
the me OF Us annual examination
license tax ef one tllth OF one
Ger cent OF lis total resources. when
license TAX snail be converted IN
h" banking tuna. Nothlng herelh
shall prevent the imposition ana
elieft9n OF taxes on real OF per
5onal property owned by any bailk
m the same manner as real ana per
sonal property belonging TO in1lN d
uals or corporations as taxed IN inc
Territory OF Alaska.
a fund IS hereby created 10 De
nOEn IS the banking fund. ana
out OF such fund shall be paid all
expenses Incurred under the pro-
visions OF this act. 1t shall be the
duty of the superintendent of banks
quarterly. to certify, under oath, to
OF money received by him for each
current quarter, and to remit to such
treasurer all moneys received by
him as such superintendent OF banks.
If upon examination or from any
report made by any bank in the
Territory OF Alaska it shall appear
10 the superintendent OF banks that
The capital stock of such bank is re-
iuced, by impairment, or otherwise.
below the amount specified in its
articles OF incorporation or by law
required, the superintendent OF hanks
shall notify the officers and dlrec-
tors or owners of such bank to make
rood such impairment within ninety
days from the date of such requlSl-
ton; and it shall be the duty o.
the officers, directors and owners
of any bank receiving such notice
from the superintendent OF banks
10 Immediately call meeting OF
stockholders or owners of such bank,
for the purpose of proyid ng for such
impairment; provided, that such
bank may reduce its capital stock
% the extent OF such impairment
if such reduction VIII not place It's
capital below the amount required
by this act. L he superintendent
may cause such bank TO be examined
20 ascertain if the amount OF such
impairment has been made good'
as required by him, and no trans
fer of stock shall be valid Whlle
the bank is under notice TO make
good the impairment OF It's capltal
stock, nor until such lmpa rmeh'
shall have been MADE sood.
II upon examination DIV lhe panh
examiner. or from any report lhaae
TO the superintendent OF parks i
shail appear that any oanK Is IN
solvent. II shall be the du'y OF !he
/ superintendent OF banks TO Hi
mediately take charge OF such
bank and all property ana eliee's
thereof. Upon taking charge oi any
bank the superintendent Vi pdnhs
shall. as soon as possiole: asvel,