The Alaska citizen., 1913-04-07

solvent First. when the actua
cash market value of its assets /,
insufficient to pay its lab lities
second. when it is unable to meet
the demands of its creditors in the
usual and customary manner: third
when it shall fail to make good it.
reserve as requ red herein.
All transfers of notes. bonds bill,
or exchange or other evidence ot
debt owing to any bank in tn,
Territory of Alaska. or of deposits
To its credit. all assignments oil
mortgages, securities real estate oil
personal property, or of judgments
or DEGREES in its favor. all deposits
of money. bullion or other valuable
thing for its use or for the use oil
creditors. and all payments of money
to either. made after the commits
sion of an act of insolvency. or in
contemplation thereof. made with
the view to prevent the application
OF It's assets in the manner pre-
scribed by this act. or with the
view to the preference of one ere
ditor over another shall be utterly
null and void; and no attachment
injunction or execution shall be is
sued against such bank or its pro
perry before final judgment in any
SUIT. action or proceeding in any
court
II shall be unlawful for any pre-
sident. director, manager. cashier
or other officer of any bank. to as
sent to the reception of deposits or
the creation of debts by such bank
after he shall have had knowledge
OF the fact that such bank is in
solvent or u failing circumstances.
and il is hereby made the duty of
every officer agent or manager of
such bank to examine into the affairs
of the same and to know its con
dition if possible; and upon failure
of any such person 10 discharge
such duty he shall. ter the purpose
Of this act. be held to have had
know ledge of the insolvency of such
bank. or that it was in failing cir
cumstances.
Every person violating the pro
dividually responsible for all de-
posts so received and all such debts
so contracted
The owners, directors and officers
of any bank. who shall violate the
provis ons of this section, shall be
deemed guilty of felony and upon
conviction thereof. shall be punish
ed by a fine not less than one thou
sand dollars nor more than ten thou
sand dollars and by Imprisonment in
the pententiary not to exceed ten
years.
ANY officer. director owner or en-
ployee of any bank in the Terri
tory of Alaska who shall willfully
any false statement TO the superin-
tendent of banks or the bank examin-
er. or any false entry in the books
" accounts of any bank, or shall
subscribe or enter false papers. or
who shall state or publish any
false repores or statement of such
nank, shall be deemed guilty of
felony. and upon conviction thereof
shall be punished by fine of not
less than one thousand dollars nor
more than ten thousand dollars and
by Imprisonment not more than ten
years
Every owner. officer, director or
employee OF any bank, who en-
bezzles. abstracts or willfully mis-
applies any of the money funds,
credits. assets or property of any
bank. whether owned by such bank
or held in trust by it. or who with
out authority of the board of d r
ectors of such bank issues or puts
forth any certificate OF deposit,
draws any order. draft or bill of
exchange. mortgage, judgment. or
decree, or who makes any false en-
try in the books or statement OF
the bank. or any person who with
like intent aids or abets any owner.
officer, director or employee of any
bank in the violation of this section
upon conviction thereof shall be
less than one year nor more than
twenty years.
Any officer, manager, director
owner or employee of any bank
in the Territory of Alaska. who VIC
lates any of the provisions OF this
act for which no penalty IS eX-
pressed herein, shall be deemed
guilty of misdemeanor. and upon
thereof shall be fined no
less than one hundred dollars nor
more than one thousand dollars.
or by Imprisonment in the federal
jail not less than six months nor
more than one year, or by both such
fine and impr sonment.
The provisions of this act shall
apply to and govern all banks in
Ae Territory of Alaska. hereafter
engaging in the business of banking
as herein defined. And every bank
now engaged in the business of
banking in the Territory, as defined
in this act. shall. on or before
twelve months from the date this
act becomes effective, alter or amend
its articles of incorporation or
other agreement or contract under
which it may be organized or con
Quoted. if necessary, to comply with
the provisions of this act and by
said time make it's business con-
form in all respects to the re
quirements of this act.
The United States Attorney for the
respective divisions in which the
bank IS situated shall conduct all
actions. suits or PROCEEDINGS begun
under the provisions OF this act
and all civil actions. suits and pro
ceedings begun under this act shall
be begun and carried on by the
superintendent of banks in the name
Of his office.
Any person. rm or corporation
Except National banks). having a
place of business in the Territory
of Alaska, where credits are opened