vs. Kennedy. 16 Platt, Receiver, Ibid.,8. 50, ante, p. 177. p. 216. the Comptroller of the Currency may forthwith appoint a Bethel vs. Pahquicque Bank, 14 receiver, and require of him such bond and security as he Wall., 383; Bank deems proper. Such receiver, under the direction of the Wall., 19; In re Comptroller, shall take possession of the books, records, &c., 1 Ben., 534. and assets of every description of such association, collect all debts, dues, and claims belonging to it, and, upon the order of a court of record of competent jurisdiction, may June 30,1876, post, sell or compound all bad or doubtful debts, and, on a like order, may sell all the real and personal property of such association, on such terms as the court shall direct; and may, if necessary to pay the debts of such association, enforce the individual liability of the stockholders. Such receiver shall pay over all money so made to the Treasurer of the United States, subject to the order of the Comptroller, and also make report to the Comptroller of all his acts and proceedings. Dividends by Comptroller to creditors. 3 June, 1864, s. SEC. 5236. From time to time, after full provision has been first made for refunding to the United States any deficiency in redeeming the notes of such association, the Comptroller shall make a ratable dividend of the money so 50, ante, p. 177. paid over to him by such receiver on all such claims as may have been proved to his satisfaction or adjudicated in a court of competent jurisdiction, and, as the proceeds of the assets of such association are paid over to him, shall make further dividends on all claims previously proved or adjudicated; and the remainder of the proceeds, if any, shall be paid over to the shareholders of such association, or their legal representatives, in proportion to the stock by them respectively held. receivership. Ibid. SEC. 5237. Whenever an association against which pro- Injunction upon ceedings have been instituted, on account of any alleged refusal to redeem its circulating notes as aforesaid, denies having failed to do so, it may, at any time within ten days after it has been notified of the appointment of an agent, as provided in section fifty-two hundred and twenty-seven, apply to the nearest circuit, or district, or territorial court of the United States to enjoin further proceedings in the premises; and such court, after citing the Comptroller of the Currency to show cause why further proceedings should not be enjoined, and after the decision of the court or finding of a jury that such association has not refused to redeem its circulating notes, when legally presented, in the lawful money of the United States, shall make an order enjoining the Comptroller, and any receiver acting under his direction, from all further proceedings on account of such alleged refusal. Fees and ex penses of protest p. 178. SEC. 5238. All fees for protesting the notes issued by and receivership. any national banking association shall be paid by the perIbid., s. 51, ante, son procuring the protest to be made, and such association shall be liable therefor; but no part of the bonds deposited by such association shall be applied to the payment of such fees. All expenses of any preliminary or other examinations into the condition of any association shall be paid by such association. All expenses of any receivership shall be paid out of the assets of such association before distribution of the proceeds thereof. Transfers, assignments, &c., solvency, void. Ibid., s. 52. SEC. 5242. All transfers of the notes, bonds, bills of exafter an act of in- change, or other evidences of debt owing to any national banking association, or of deposits to its credit; all assignments of mortgages, sureties on real estate, or of judgments or decrees in its favor; all deposits of money, bullion, or other valuable thing for its use, or for the use of any of its shareholders of creditors; and all payments of money to either, made after the commission of an act of insolvency, or in contemplation thereof, made with a view to prevent the application of its assets in the manner prescribed by this chapter, or with a view to the preference of one creditor to another, except in payment of its circulating notes, shall be utterly null and void. Use of the title "national." Ibid., s. 52. * * SEC. 5243. All banks not organized and transacting business under the national-currency laws, or under this Title, and all persons or corporations doing the business of bankers brokers or saving institutions except savings-banks authorized by Congress to use the word "national" as a part of their corporate name, are prohibited from using the 3 Mar., 1873, word "national" as a portion of the name or title of such ante, p. 187. bank, corporation, firm, or partnership; and any violation of this prohibition committed after the third day of September, eighteen hundred and seventy-three, shall subject the party chargeable therewith to a penalty of fifty dollars for each day during which it is committed or repeated. Penalty for unlawfully counter notes. 8. CRIMES AND MISDEMEANORS. SEC. 5187. No officer acting under the provisions of this signing or deliv. Title shall countersign or deliver to any association, or to ering circulating any other company or person, any circulating notes contem3 June, 1864, plated by this Title, except in accordance with the true intent 27, ante, p. 166. and meaning of its provisions. Every officer who violates this section shall be deemed guilty of a high misdemeanor, and shall be fined not more than double the amount so coun tersigned and delivered, and imprisoned not less than one year and not more than fifteen years. SEC. 5188. It shall not be lawful to design, engrave, print, Penalty for imitating nationor in any manner make or execute, or to utter, issue, dis- al bank notes, &c. tribute, circulate, or use, any business or professional card, notice, placard, circular, hand-bill, or advertisement, in the likeness or similitude of any circulating note or other obligation or security of any banking association organized or acting under the laws of the United States which has been or may be issued under this Title, or any act of Congress, or to write, print, or otherwise impress upon any such note, obligation, or security any business or professional card, notice or advertisement, or any notice or advertisement of any matter or thing whatever. Every person who violates this section shall be liable to a penalty of one hundred dollars, recoverable one-half to the use of the informer. SEC. 5189. Every person who mutilates, cuts, defaces, disfigures, or perforates with holes, or unites or cements together, or does any other thing to any bank-bill, draft, note, or other evidence of debt, issued by any national banking association, or who causes or procures the same to be done, with intent to render such bank-bill, draft, note, or other evidence of debt unfit to be re-issued by said association, shall be liable to a penalty of fifty dollars, recoverable by the association. Penalty for mubank notes, &c. tilating national Ibid., s. 58, ante, p. 180. notes, drafts, &c., of closed associa tions. SEC. 5437. In all cases where the charter of any corpo- Penalty for unlawfully putting ration which has been or may be created by act of Congress in circulation the has expired or may hereafter expire, if any director, officer, or agent of the corporation, or any trustee thereof, or any agent of such trustee, or any person having in his possession or under his control the property of the corporation for the purpose of paying or redeeming its notes and obligations, knowingly issues, re-issues, or utters as money, or in any other way knowingly puts in circulation any bill, note, check, draft, or other security purporting to have been made by any such corporation whose charter has expired, or by any officer thereof, or purporting to have been made under authority derived therefrom, or if any person knowingly aids in any such act, he shall be punished by a fine of not more than ten thousand dollars, or by imprisonment not less than one year nor more than five years, or by both such fine and imprisonment. But nothing herein shall be construed to make it unlawful for any person, not being such closed associa tions may circudirector, officer, or agent of the corporation, or any trustee late the notes of thereof, or any agent of such trustee, or any person having tions. in his possession or under his control the property of the Persons not officers or agents of such associa corporation for the purpose herein before set forth, who has received or may hereafter receive such bill, note, check, draft, or other security, bona fide and in the ordinary transactions of business, to utter as money or otherwise circulate the same. June 20, 1874. Vol. XVIII, p. 123. bank act." Ante, p. 153. AMENDMENTS AND ADDITIONAL ACTS. CHAP. 343.-AN ACT FIXING THE AMOUNT OF UNITED STATES NOTES Be it enacted by the Senate and House of Representatives of "The national- the United States of America in Congress assembled, That the act entitled "An act to provide a national currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof," approved June third, Eighteen hundred and sixty-four, shall hereafter be known as the "national-bank act." Lawful money reserve on circn except as to na SEC. 2. That section thirty-one of the "national-bank act" lation abolished, be so amended that the several associations therein provided tional gold- for shall not hereafter be required to keep on hand any See sec. 5191, amount of money whatever by reason of the amount of their banks. ante, p. 197. Redemption fund to be depos urer. as lawful reserve. ative to redemp Treasurer. respective circulations; but the moneys required by said section to be kept at all times on hand shall be determined by the amount of deposits in all respects, as provided for in the said section. SEC. 3. That every association organized, or to be organited with Treas- ized, under the provisions of the said act, and of the several acts amendatory thereof, shall at all times keep and have on deposit in the Treasury of the United States, in lawful money of the United States, a sum equal to five per centum of its circulation, to be held and used for the redemption of such May be counted circulation; which sum shall be counted as a part of its lawful reserve, as provided in section two of this act; and Provisions rel- when the circulating notes of any such associations, assorted tion of notes by or unassorted, shall be presented for redemption, in sums of one thousand dollars or any multiple thereof, to the Treasurer of the United States, the same shall be redeemed in United States notes. All notes so redeemed shall be charged by the Treasurer of the United States to the respective associations issuing the same, and he shall notify them severally, on the first day of each month, or oftener, at his discretion, of the amount of such redemptions; and whenever such redemptions for any association shall amount to the sum of five hundred dollars, such association so notified shall forthwith deposit with the Treasurer of the United States a sum to be returned by urers. in United States notes equal to the amount of its circulating notes so redeemed. And all notes of national banks, worn, Mutilated notes defaced, mutilated, or otherwise unfit for circulation, shall, assistant treaswhen received by any assistant treasurer at any designated depository of the United States, be forwarded to the Treasurer of the United States for redemption as provided herein. And when such redemptions have been so re-imbursed, the circulating notes so redeemed shall be forwarded to the respective associations by which they were issued; but if any of such notes are worn, mutilated, defaced, or rendered otherwise unfit for use, they shall be forwarded to the Comptroller of the Currency and destroyed, and replaced as now provided by law: Provided, That each of said associations shall re-imburse to the Treasury the charges for transportation, Treasury for cost of redemption,. and the costs for assorting such notes; and the associations new plates, &c. hereafter organized shall also severally re-imburse to the Treasury the cost of engraving such plates as shall be ordered by each association respectively; and the amount assessed upon each association shall be in proportion to the circulation redeemed, and be charged to the fund on deposit with the Treasurer: And provided further, That so much of Redemption section thirty-two of said national-bank act requiring or abolished. permitting the redemption of its circulating notes elsewhere. See secs. 5192 than at its own counter, except as provided for in this sec- ante, pp. 198,199. tion, is hereby repealed. Associations to reimburse the agents in cities and 5195, R. S., SEC. 4. That any association organized under this act, or Provisions for retiring circula any of the acts of which this is an amendment, desiring to tion and withdrawing bonds. withdraw its circulating notes, in whole or in part, may, upon the deposit of lawful money with the Treasurer of the United States in sums of not less than nine thousand dollars, take up the bonds which said association has on deposit with the Treasurer for the security of such circulating notes, which bonds shall be assigned to the bank in the manner specified in the nineteenth section of the nationalbank act; and the outstanding notes of said association, to an amount equal to the legal-tender notes deposited, shall be redeemed at the Treasury of the United States, and destroyed as now provided by law: Provided, That the amount, Limit of withof the bonds on deposits for circulation shall not be reduced below fifty thousand dollars. Ante, p. 162.. drawal of bonds. The charter numbers of banks on their notes. SEC. 5. That the Comptroller of the Currency shall, under such rules and regulations as the Secretary of the Treasury to be printed upmay prescribe, cause the charter numbers of the association to be printed upon all national-bank notes which may be hereafter issued by him. SEC. 6. That the amount of United States notes outstand |