The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1914-06-26

day June 2i.p
Sec. y. That from ana after W
years from the date of The approval
Of this act No person who is engaged
an Individual, or who Is a mom-
her of a partnership. ct is O. director
or other officer OF u corporation that
ls engaged in the business. ln whole
or In part, Of producing or selling
equipment. materials. or supplies tu,
or in the construction or mainter
ance OF. railroads or other common
Carriers engaged IN commerce. shall
act as u director or other officer ~
omploye Of any corporation or com
mon carrier engaged IN 20
which he. or such partnership or
corporation. sells or leases. directly
or indirectly. equipment, materials or
supplies. for which he OF such part
ncrshlp OF corporation, directly OF IN
directly. engages in the work Of con-
structiOn or maintenance; " after
the expiration Of said period no per-
son who Is engaged ns an individual
or who IL "a member Of a partnership
or IL q director or other officer ~ a
corporation which is engaged In the
conduct 81 % bank or trust company
shall act as u director or other ON
Ger or empioyc Of any such common
carrier Tor which he or such pdtt-
ncrship or bank or trust company
acts. either separately or In conncc-
ton with others, as agent Tor or UNI
dsrWriter 81 the sale or disposal by
such common carrier Of issues or
parts of issues OF It's securities. or
IL ON which he or such partnership
or bank or trust company purchases,
either seuaratoly OF in connection
with others. issues OF parts OF issues
/ Of securities Of such common carrier.
That rom and after two years from
the date OF the approval OF this act
no person shall at the same time De
"A director OF other officer or EN-
| ploye of more than one bank. banking
/ association. or trust company organ
lied or operating under the laws ct
! the United states either OF which de-
posiis. capital, surplus, and undivid-
ed profits aggregating more than
81. 5CO.oOU. ana no private banker or
person who Is q director In any BANK
or trust company. organized and OPP
Grating under the laws OF a state,
having deposits, capital, surplus, and
undivided profits a-ggrcgailng more
than 81. SOC. 600. shall be elisi6!e to
be a director IN any bank OF banEing
association organized or operating un-
der the laws Of the United states.
The eligibility Of a director, officer
or employe under the foregoing pro-
visions shall be determined by he
average amount Of deposits, capital
surplus, and unC Ncd profits as
4 shown in the utnciaI statements Of
such bank, banking association. or
trust company filed as provided ~
law during the fiscal year next pre-
treding the date set Tor the annual
election Of directors. and whea a III
rector. office. or employe has been
elected or selected in accordance with
the provisions Of this act IL shall ne
lawful for him to contiauc as such
for one year thereafter under ARa
election or employment.
No bank. banking association, or
trust company organized OF OPERATING
under the laws of the United states
In any city or Incorporated town OF
village OF more than one hundred
thousand inhabitants. as shown by tho
last preceding d%ecennial census OF the
United states. shall have as a director
or other officer or employe any pri'
vat, banker or any director or othet
officer or employe Of m other bank.
banking association, or trust company
located In the same place. Provided.
P That nothing in this section shall APP
p ply 20 mutual savings banks not ha''
Ing q capital stock represented bN
shares: Provided further, That a d.
A., rector or other officer OF employe OF
> such bank. banTing association. 81
trust company may be "A director ol
other officer Or amploye 81 not q
, than one bank or trust company or
ganized under the laws Of n United
states or any state where the entire
capital stock Of n h vines log
& stockholders In the other And pro
yided further. That nothing CONTAINED
IN this section shall forbid a director
at class a Of a federal reserve bank
I as defined in the federal reserve act
from being an officer or director OF
s both an officer and director in on'
member bank.
That from and after two years from
= the date of the approval OF this &C
no person az the same time shall ~
10 a director IN any ~ or more cor
porations, either Of which has capital
j., surplus. and undivided profits aggre
y eating more than $1,000. 600, engage
q In whole OF in part IN commerce. oth
J. er than tommon carriers subject q
l. the act 90 regulate commerce, ap
4 proved February ith, 1857, u sue
corporations are or shall have bee.
therefore. by virtue Of their bushes
d and location OF operation, competi
tors. so tina an elimination Of com
petition by agreement between thei
would constitute "a violation OF any d
~ the provisions OF any of the ant
Is trust laws. The eligibility Of a d
ie rector under the foregoing %proyisio
shall be determined by the aggregot
I, amount cf the capital, surplus an
undivided profits, exclusive OF div
~ blends declared but not paid 20 stoee
le holders. al the end Of the fiscal yea
IA of said corporation next precedin
the election OF directors, and when
- director has been elected in accord
ne ance with the proyisionc OF this a.
IL shall be lawful for him 10 continu
as such for one year thereafter.
when any person elected or chose
as Il director or officer OF selected 4
~ an employe Of any bank or other col
n. p0Taiion subject 10 the provisions
a. hts act. il eligible at the time Of h