Imágenes de páginas
PDF
EPUB

certificate.

Comptroller to SEC. 3. That upon the receipt of the application and certificate of make examina- the association provided for in the preceding section, the Comptroller tion and issue of the Currency shall cause a special examination to be made, at the expense of the association, to determine its condition; and if after such examination or otherwise, it appears to him that said association is in a satisfactory condition, he shall grant his certificate of approval provided for in the preceding section, or if it appears that the condition of said association is not satisfactory, he shall withhold such certificate of approval.

Venue of suits

Rights, priviSEC. 4. That any association so extending the period of its succesleges, &c., of sion shall continue to enjoy all the rights and privileges and immubanks preserved. nities granted and shall continue to be subject to all the duties, liabilities, and restrictions imposed by the Revised Statutes of the United States and other acts (1) having reference to national banking associations, and it shall continue to be in all respects the identical association it was before the extension of its period of succession: Provided, however, That the jurisdiction for suits hereafter by and against brought by or against any association established under any law providing for national-banking associations, except suits between them and the United States, or its officers and agents, shall be the same as, and not other than, the jurisdiction for suits by or against banks not organized under any law of the United States which do or might do banking business where such national-banking association may be doing business when such suits may be begun: And all laws and parts of laws of the United States inconsistent with this proviso be, and the same are hereby, repealed.

banks.

1888, Aug. 13, ch. 866, § 4, post, p. 614.

17 Fed. Rep. 508. 26 Fed. Rep. 677.

120 U.S.778.

Shareholder not

SEC. 5. That when any national-banking association has amended consenting may its articles of association as provided in this act, and the Comptroller withdraw upon has granted his certificate of approval, any shareholder not assentcondition, etc. ing to such amendment may give notice in writing to the directors, within thirty days from the date of the certificate of approval, of his desire to withdraw from said association, in which case he shall be entitled to receive from said banking association the value of the shares so held by him, to be ascertained by an appraisal made by a committee of three persons, one to be selected by such shareholder, one by the directors, and the third by the first two; and in case the value so fixed shall not be satisfactory to any such shareholder, he may appeal to the Comptroller of the Currency, who shall cause a reappraisal to be made, which shall be final and binding; and if said reappraisal shall exceed the value fixed by said committee, the bank shall pay the expenses of said reappraisal, and otherwise the appellant shall pay said expenses; and the value so ascertained and determined shall be deemed to be a debt due, and be forthwith paid, to said shareholder from said bank; and the shares so surrendered and appraised shall, after due notice, be sold at public sale, within thirty days after the final appraisal provided in this section:

Shareholders of

Provided, That in the organization of any banking association expiring bank to intended to replace any existing banking association, and retaining have preference in the name thereof, the holders of stock in the expiring association taking shares of shall be entitled to preference in the allotment of the shares of the new association in proportion to the number of shares held by them respectively in the expiring association.

new ones.

Redemption of circulating notes.

1874, June 20, ch. 343, § 3, ante, p. 27.

SEC. 6. That the circulating notes of any association so extending the period of its succession which shall have been issued to it prior

NOTE. (1) The following are all the other general acts in force relating to national banks passed between the date of the Revised Statutes and the close of the 51st Congress, March 3, 1891: 1874, June 20, ch. 343, ante p. 27, reserve, redemption, circulation, &c.; 1874, June 23, ch. 455, par. 2, ante, p. 42, maceration of notes; 1875, Jan. 14, ch. 15, ante, p. 58, repeal of limit on circulation; 1875, Jan. 19, ch. 19, ante, p. 59, circulation of gold banks; 1875, Feb. 8, ch. 36, §§ 19-21, ante, p. 61, circulation tax; 1875, Feb. 19, ch. 89, ante, p. 63, compensation of examiners; 1876, June 30, ch. 156, ante, p. 107, receivers; 1879, Mar. 1, ch. 125, § 22, ante, p. 243, taxes on insolvent banks; 1880, Feb. 14, ch. 25, ante, p. 278, conversion of gold banks; 1881, Feb. 26, ch. 82, ante, p. 318, authority of notary: 1883, Mar 3, ch. 121, § 1, post, p. 404, repeal of taxes; 1886, Mar. 29, ch. 28, post, p. 488, purchase of property by receiver of insolvent bank; 1886, May 1, ch. 73, po t, p. 490, change of capital, title, and location; 1887, Mar. 3, ch. 378, post, p. 566, reserve cities: 1888, Aug. 13, ch. 866, § 4, post, p. 614, jurisdiction of courts; 1890, July 14, ch. 708, § 6, post, p. 775, deposits in Treasury; 1890, Oct. 1, ch. 1246, post, p. 870, trust compa nies, D. C.

to such extension shall be redeemed at the Treasury of the United States, as provided in section three of the act of June twentieth, eighteen hundred and seventy-four, entitled "An act fixing the amount of United States notes, providing for redistribution of national-bank currency, and for other purposes," and such notes when redeemed shall be forwarded to the Comptroller of the Currency, and destroyed as now provided by law;

And at the end of three years from the date of the extension of the Deposit of mocorporate existence of each bank the association so extended shall ney with U. S. deposit lawful money with the Treasurer of the United States suffi- Treasurer for recient to redeem the remainder of the circulation which was outstand- demption of circulating notes. ing at the date of its extension, as provided in sections fifty-two R. S., SS 5222, hundred and twenty-two, fifty-two hundred and twenty-four, and 5224, 5225. fifty-two hundred and twenty five of the Revised Statutes;

And any gain that may arise from the failure to present such cir- Gains from lost culating notes for redemption shall inure to the benefit of the United notes to inure to States; United States. 1890, July 14, ch. 708, § 6, post, p. 775. And from time to time, as such notes are redeemed or lawful New notes to be money deposited therefor as provided herein, new circulating notes distinguishable shall be issued as provided by this act, bearing such devices, to be from old. approved by the Secretary of the Treasury, as shall make them readily distinguishable from the circulating notes heretofore issued: Provided, however, That each banking association which shall obtain the benefit of this act shall reimburse to the Treasury the be paid by banks. cost of preparing the plate or plates for such new circulating notes as shall be issued to it.

Cost of plates to

SEC. 7. That national-banking associations whose corporate exist- Closing of banks ence has expired or shall hereafter expire, and which do not avail not accepting prothemselves of the provisions of this act, shall be required to comply visions of act. with the provisions of sections fifty-two hundred and twenty one and 5222, 5224, 5225. R. S., §§ 5220fifty-two hundred and twenty-two of the Revised Statutes in the same manner as if the shareholders had voted to go into liquidation, as provided in section fifty-two hundred and twenty of the Revised Statutes; and the provisions of sections fifty-two hundred and twenty-four and fifty-two hundred and twenty-five of the Revised Statutes shall also be applicable to such associations, except as modified by this act; and the franchise of such association is hereby extended for the sole purpose of liquidating their affairs until such affairs are finally closed.

Bonds for secu

SEC. 8. That national banks now organized or hereafter organized, having a capital of one hundred and fifty thousand dollars, or less, rity of circulation shall not be required to keep on deposit or deposit with the Treasurer not to exceed oneof the United States United States bonds in excess of one-fourth of fourth of capital. their capital stock as security for their circulating notes; but such banks shall keep on deposit or deposit with the Treasurer of the United States the amount of bonds as herein required.

Circulation not

And such of those banks having on deposit bonds in excess of that amount are authorized to reduce their circulation by the deposit of to exceed ninety lawful money as provided by law; provided That the amount of per cent. of par of such circulating notes shall not in any case exceed ninety per centum bonds deposited. of the par value of the bonds deposited as herein provided:

Provided further, That the national banks which shall hereafter Cost of transmake deposits of lawful money for the retirement in full of their portation of circucirculation shall at the time of their deposit be assessed for the cost lation outstanding of transporting and redeeming their notes then outstanding, a sum banks. to be paid by equal to the average cost of the redemption of national-bank notes 1874, June 20, during the preceding year, and shall thereupon pay such assessment. ch. 343, § 3, ante, And all national banks which have heretofore made or shall here- p.27. after make deposits of lawful money for the reduction of their circulation shall be assessed and shall pay an assessment in the manner specified in section three of the act approved June twentieth, eighteen hundred and seventy-four, for the cost of transporting and

Withdrawal of

therefor.

5160, 5222.

redeeming their notes redeemed from such deposits subsequently to June thirtieth, eighteen hundred and eighty-one.

SEC. 9. That any national banking association now organized, or circulation and hereafter organized, desiring to withdraw its circulating notes, upon deposit of money a deposit of lawful money with the Treasurer of the United States, R. S., §§ 5159, as provided in section four of the act of June twentieth, eighteen hundred and seventy-four, entitled "An act fixing the amount of 1874, June 20, United States notes, providing for a redistribution of national-bank ch. 343, § 4, ante, currency, and for other purposes,' or as provided in this act, is 1890, July 14, authorized to deposit lawful money and withdraw a proportionate ch. 708, § 6, post, amount of the bonds held as security for its circulating notes in the order of such deposits;

p. 27.

p. 775.

Called bonds not

[ocr errors]

And no national bank which makes any deposit of lawful money in order to withdraw its circulating notes shall be entitled to receive any increase of its circulation for the period of six months from the time it made such deposit of lawful money for the purpose aforesaid:

Provided, That not more than three millions of dollars of lawful money shall be deposited during any calendar month for this purpose:

And provided further, That the provisions of this section shall to be withdrawn. not apply to bonds called for redemption by the Secretary of the Treasury, nor to the withdrawal of círculating notes in consequence thereof.

blank, &c.

5160.

Upon deposit of SEC. 10. That upon a deposit of bonds as described by sections fiftybonds, bank to re- one hundred and fifty-nine and fifty-one hundred and sixty, except ceive notes in as modified by section four of an act entitled "An act fixing the Not exceeding 90 amount of United States notes, providing for a redistribution of the per cent. of paid-in national-bank currency, and for other purposes," approved June capital. twentieth, eighteen hundred and seventy-four, and as modified by R. S., SS 5159, section eight, of this act, the association making the same shall be entitled to receive from the Comptroller of the Currency circulating notes of different denominations, in blank, registered and countersigned as provided by law, equal in amount to ninety per centum of the current market value, not exceeding par, of the United States bonds so transferred and delivered, and at no time shall the total amount of such notes issued to any such association exceed ninety per centum of the amount at such time actually paid in of its capital stock:

1874, June 30, ch. 343, § 4, ante,

p. 27.

Repeal of
R. S., SS 5171,

5176.

Three and a half

per cent. bonds received in exchange for three per cent. regis

tered bonds.

Exempt from taxes, &c.

Three per cent.

last.

3701.

And the provisions of sections fifty-one hundred and seventy-one and fifty-one hundred and seventy-six of the Revised Statutes are hereby repealed.

SEC. 11. That the Secretary of the Treasury is hereby authorized to receive at the Treasury any bonds of the United States bearing three and a half per centum interest, and to issue in exchange therefor an equal amount of registered bonds of the United States of the denominations of fifty, one hundred, five hundred, one thousand, and ten thousand dollars, of such form as he may prescribe, bearing interest at the rate of three per centum per annum, payable quarterly at the Treasury of the United States.

Such bonds shall be exempt from all taxation by or under State authority, and be payable at the pleasure of the United States: Provided, That the bonds herein authorized shall not be called in bonds to be called and paid so long as any bonds of the United States heretofore issued R. S., §§ 3693-bearing a higher rate of interest than three per centum, and which shall be redeemable at the pleasure of the United States, shall be out1881, March 3, standing and uncalled. The last of the said bonds originally issued ch. 133, § 2, ante, under this act, and their substitutes, shall be first called in, and this p. 321. order of payment shall be followed until all shall have been paid. Gold certificates SEC. 12. That the Secretary of the Treasury is authorized and in exchange for directed to receive deposits of gold coin with the Treasurer or assistgold coin. ant treasurers of the United States, in sums not less than twenty

dollars, and to issue certificates therefor in denominations of not less than twenty dollars each, corresponding with the denominations of United States notes.

The coin deposited for or representing the certificates of deposits shall be retained in the Treasury for the payment of the same on demand.

Said certificates shall be receivable for customs, taxes, and all public dues, and when so received may be reissued;

[blocks in formation]

1878, June 8, ch. 170. ante, p. 170. ante, p. 173. For what purpose they and silver certificates

R. S., SS 254,

And such certificates, as also silver certificates, when held by any national-banking association, shall be counted as part of its lawful may be used. reserve; and no national-banking association shall be a member of 3009. any clearing-house in which such certificates shall not be receivable in the settlement of clearing-house balances:

Issue of gold

Provided, That the Secretary of the Treasury shall suspend the issue of such gold certificates whenever the amount of gold coin and certificates may be gold bullion in the Treasury reserved for the redemption of United suspended. States notes falls below one hundred millions of dollars;

And the provisions of section fifty-two hundred and seven of the Revised Statutes shall be applicable to the certificates herein authorized and directed to be issued.

SEC. 13. That any officer, clerk, or agent of any national-banking association who shall willfully violate the provisions of an act entitled "An act in reference to certifying checks by national banks," approved March third, eighteen hundred and sixty-nine, being section fifty-two hundred and eight of the Revised Statutes of the United States, or who shall resort to any device, or receive any fictitious obligation, direct or collateral, in order to evade the provisions thereof, or who shall certify checks before the amount thereof shall have been regularly entered to the credit of the dealer upon the books of the banking association, shall be deemed guilty of a misdemeanor, and shall, on conviction thereof in any circuit or district court of the United States, be fined not more than five thousand dollars, or shall be imprisoned not more than five years, or both, in the discretion of the court.

Penalty for using U. S. notes

for collateral.
R. S., § 5207.
Punishment for

falsely certifying
checks, &c.

R. S., § 5208.

17 Opins., 471.

SEC. 14. That Congress may at any time amend, alter, or repeal Act may be rethis act and the acts of which this is amendatory. [July 12, 1882.] pealed, altered,

CHAP. 294.-An act to increase the water-supply of the city of Washington, and for other

purposes. (1)

&c.

July 15, 1882.

22 Stat. L., 168.

Be it enacted, &c. That the Secretary of War shall cause to be made a survey and map of the land Secretary of necessary to extend the Washington Aqueduct from its present eastern terminus to War to acquire the high ground north of Washington, near Sixth street extended, and of the land land and waternecessary for a reservoir at that point, the capacity of which shall not be less than rights for increase three hundred million gallons; and a like survey and map of the land necessary for of water-supply of a dam across the Potomac River at Great Falls, including the land now occupied by Washington, D.C. the dam, and the land required for the extension of said dam across Conn's Island to R. S., S$ 1800and upon the Virginia shore; and when surveys and maps shall have been made the 1811. Secretary of War and the Attorney-General of the United States shall proceed to acquire to and for the United States the outstanding title, if any, to said land and water-rights, and to the land on which the gate-house at Great Falls stands by condemnation.

*

*

SEC. 2. That the Secretary of War be, and is hereby, authorized and directed to to extend Washextend the Washington Aqueduct from its present eastern terminus to the high ington aqueduct, ground north of Washington near Sixth street extended; &c.; complete

And that he construct at that point a reservoir of the capacity of not less than dam at Great three hundred millions gallons, erect the necessary gate-house, and lay such main- Falls, extend connections as may be necessary to furnish to Washington and Georgetown an same, &c. ample supply of water;

And that he complete the dam at Great Falls to the level of one hundred and forty-eight feet above tide, and extend the same at that level across Conn's Island to the Virginia shore;

NOTE. (1) This act is generally temporary, making provision for a single public work, and, but for the provisions of the latter part of § 3, would be omitted from this volume, as are all other acts providing for public works. That section contains important permanent legislation. The retained portions of § 1 and § 2 are necessary to an understanding of § 3. All the rest of the act is temporary or has expired.

Fish-ways.

1884, July 4, ch.

178 (23 Stat. L.,72).

111.

And that he raise the embankment between the Potomac River and the Chesapeake and Ohio Canal above the dam, so as to protect the canal from the increased Hooding which the completion of the dam will cause in times of high water, or pay to the canal company, in full satisfaction for all such flooding, the amount hereinafter appropriated for that purpose.

SEC. 3. ** To provide for the erection of suitable fish ways at the Great Falls of the Potomac and at the dam to be constructed under the provisions of this act in accordance with plans and specifications to be prescribed by the United States Commissioner of Fish and Fisheries,

*

Half cost to be Provided further, That one-half the cost of said improvement, charged to capital excluding the fish-way, shall be annually computed and stated by and bear interest. the Treasurer of the United States, and charged to a capital account R. S., of D. C., SS 195-221. on the books of the Treasury, and that interest at the rate of three 1876, July 12, ch. per centum per annum thereon shall be annually computed and 180 § 18, ante, p. charged to said account, and that any surplus of water rents over 1878, June 11, and above the expense of maintaining the works and appendages ch. 180, § 3, ante, and paying the charges for interest and sinking fund for the redemption of outstanding bonds heretofore issued for the extension 1879, June 10, of said water works in the city of Washington shall be paid into the ch. 16, ante, p. 264. Treasury of the United States by the officer who may be charged 1884, July 5, ch. 227. pars. 6,7, post, with the collection of the same, and credited to the account thus created, until the same shall be finally extinguished

p. 176.

p. 464.

Water rents to

credited till bonds are redeemed.

And the water rents shall be so regulated from time to time as to be regulated and be at least sufficient to pay the expenses of maintaining the said. works and appendages and the interest on the capital account created in accordance with this provision in addition to charges now imposed thereon by law.

- and afterwards

After the extinguishment of said account and until further action paid into the by Congress the surplus water rents shall be paid into the Treasury Treasury of U.S. of the United States. [July 15, 1882.]

July 20, 1882.

22 Stat. L., 172.

Iowa judicial districts.

R. S., § 537.
Northern dis-

trict.

Southern dis

trict.

Judges.

District attor

CHAP. 312.- An act to divide the State of Iowa into two Judicial Districts. (1)

Be it enacted, &c., That the State of Iowa be, and the same is hereby, divided into two judicial districts, in manner following, to-wit:

The Counties of Clinton, Jones, Linn, Benton, Black Hawk, Grundy, Hardin, Hamilton, Webster, Calhoun, Sac, Ida, Monona, and all the counties north of those named shall constitute a new district, to be known as the northern district of Iowa.

The remaining counties of the State shall constitute the southern district of Iowa; and the present district court of Iowa, from and after the passage of this act, shall be known as the district court for the southern district of Iowa.

SEC. 2. That the present judge of the district of Iowa is hereby declared to be the district judge for the southern district of Iowa; and the President of the United States be, and is hereby, authorized and directed, by and with the advice and consent of the Senate, to appoint a district judge for the northern district of Iowa.

SEC. 3. That the district attorney and United States marshal for neys and mar- the district of Iowa shall be the district attorney and marshal of the southern district of Iowa, and the President of the United States, by

shals.

NOTE. (1) By R. S., § 531, the State of Iowa is made a single judicial district, with (R. S., §§ 560, 572) four divisions and a deputy clerk in each division. District court was to be held at Dubuque, Keokuk, Des Moines, and Council Bluffs, and (§ 586) intermediate terms under circumstances specified. Circuit court (§ 658) was held at Des Moines. By 1874, Feb. 9, ch. 24, ante, p. 3, the times of holding court at Keokuk and Council Bluffs was changed. By 1880, June 4, ch. 120, ante, p. 290, the circuit court is to be held at the times and places fixed for the district court. By 1882, July 20, ch. 312, above, the State is divided into the northern and southern districts and each of these into the eastern, central, and western divisions, with courts in the northern district at Dubuque in the eastern division, Fort Dodge in the central division, and Sioux City in the western division; and in the southern district at Keokuk in the eastern division. Des Moines in the central division, and Council Bluffs in the western division. The two district judges (§ 8) may hold circuit court together. By 1888, Apr. 19, ch. 127, post, p. 584, entirely superseding 1884, Feb. 23, ch. 8 (23 Stat. L., 3), making provision on the same subject, the times for holding court at Sioux City, Fort Dodge, and Dubuque are changed. By 1891, Feb. 24, ch. 282, post, p. 895, certain counties in each district are made the Cedar Rapids division of the northern, district, with court at Cedar Rapids.

« AnteriorContinuar »