thousand dollars, twenty dollars; those having a capital of one hundred thousand dollars and less than three hundred thousand dollars, twenty-five dollars; those having a capital of three hundred thousand dollars and less than four hundred thousand dollars, thirty-five dollars; those having a capital of four hundred thousand dollars and less than five hundred thousand dollars, forty dollars; those having a capital of five hundred thousand dollars and less than six hundred thousand dollars, fifty dollars; those having a capital of six hundred thousand dollars and over, seventy-five dollars; which amounts shall be assessed by the Comptroller of the Currency upon, and paid by, the respective associations so examined, and shall be in lieu of the compensation and mileage heretofore allowed for making said examinations; and persons appointed to make examination Compensation of national banks in the cities named in section five thou- certain cities, States, and Tersand one hundred and ninety-two of the Revised Statutes ritories. of the United States, or in any one of the States of Oregon, Ante, p. 198. California, and Nevada, or in the Territories, shall receive such compensation as may be fixed by the Secretary of the Treasury upon the recommendation of the Comptroller of the Currency; and the same shall be assessed and paid in the manner herein before provided." Approved, February 19, 1875. of examiners in CHAP. 156.-AN ACT AUTHORIZING THE APPOINTMENT OF RECEIV- June 30, 1876. Vol. XIX, p. 63. for a national troller of Cur Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That When receiver whenever any national banking association shall be dis- bank to be apsolved, and its rights, privileges, and franchises declared pointed by Compforfeited, as prescribed in section fifty-two hundred and rency. thirty-nine of the Revised Statutes of the United States, or whenever any creditor of any national banking association shall have obtained a judgment against it in any court of record and made application, accompanied by a certificate from the clerk of the court stating that such judgment has been rendered and has remained unpaid for the space of thirty days, or whenever the Comptroller shall become satisfied of the insolvency of a national banking association, he may, after due examination of its affairs, in either case, appoint a receiver, who shall proceed to close up such association, and enforce the personal liability of the shareholders, as provided in section fifty-two hundred and thirty-four of R. S., 5234, ante, said statutes. p. 204. be enforced. R. S., 5220, ante, p. 201. Individual lia- SEC. 2. That when any national banking association shall bility of shareholders, how to have gone into liquidation under the provisions of section five thousand two hundred and twenty of said statutes, the individual liability of the shareholders provided for by section fifty-one hundred and fifty-one of said statutes may be enforced by any creditor of such association, by bill in equity in the nature of a creditor's bill, brought by such creditor on behalf of himself and of all other creditors of the association, against the shareholders thereof, in any court of the United States having original jurisdiction in equity for the district in which such association may have been located or established. Meeting of shareholders af debts and expenses of receiv. ership. R. S., 5234, 5236, ings. SEC. 3. That whenever any association shall have been or ter payment of shall be placed in the hands of a receiver, as provided in section fifty-two hundred and thirty-four and other sections of said statutes, and when, as provided in section fifty-two ante, pp. 204, 205.' hundred and thirty-six thereof, the Comptroller shall have paid to each and every creditor of such association, not including shareholders who are creditors of such association, whose claim or claims as such creditor shall have been proved, or allowed as therein prescribed, the full amount of such claims and all expenses of the receivership, and the redemption of the circulating notes of such association shall have been provided for by depositing lawful money of the United States with the Treasurer of the United States, the Comptroller of the Currency shall call a meeting of the Notice of meet- shareholders of such association by giving notice thereof, for thirty days in a newspaper published in the town, city, or county where the business of such association was carried on, or if no newspaper is there published, in the newspaper published nearest thereto, at which meeting the Election of shareholders shall elect an agent, voting by ballot, in person or by proxy, each share of stock entitling the holder to one vote; and when such agent shall have received votes representing at least a majority of the stock in value and number of shares, and when any of the shareholders of the asBond for pay-sociation shall have executed and filed a bond to the satisfacment of debts. tion of the Comptroller of the Currency, conditioned for the payment and discharge in full of any and every claim that may hereafter be proved and allowed against such association by and before a competent court, and for the faithful performance and discharge of all and singular the duties of such trust, the Comptroller and the receiver shall thereupon Transfer of as- transfer and deliver to such agent all the undivided or uncollected or other assets and property of such association then remaining in the hands or subject to the order or con agent of shareholders. sets and property to agent. Instrument of transfer. Discharge of Comptroller and Powers and duties of agent. trol of said Comptroller and said receiver, or either of them; and for this purpose, said Comptroller and said receiver are hereby severally empowered to execute any deed, assignment, transfer, or other instrument in writing that may be necessary and proper; whereupon the said Comptroller and the said receiver shall, by virtue of this act, be discharged and released from any and all liabilities to such association, and receiver. to each and all of the creditors and shareholders thereof; and such agent is hereby authorized to sell, compromise, or compound the debts due to such association upon the order of a competent court of record or of the United States circuit court for the district where the business of the association was carried on. Such agent shall hold, control, and dispose of the assets and property of any association which he may receive as herein before provided for the benefit of the shareholders of such association as they, or a majority of them in value or number of shares, may direct, distributing such assets and property among such shareholders in proportion to the shares held by each; and he may, in his own name or in the name of such association, sue and be sued, and do all other lawful acts and things necessary to finally settle and distribute the assets and property in his hands. In selecting an agent as herein before provided, Administrators, guardians, administrators or executors of deceased shareholders may may act in choosing agent. act and sign as the decedent might have done if living, and guardians may so act and sign for their ward or wards. SEC. 4. That the last clause of section fifty-two hundred and five of said statutes is hereby amended by adding to the said section the following proviso: &c., R. S., 5205, amended. shareholders re sessment. "And provided, That if any shareholder or shareholders Sale of stock of of such bank shall neglect or refuse, after three months' fusing to pay asnotice, to pay the assessment, as provided in this section, it shall be the duty of the board of directors to cause a sufficient amount of the capital stock of such shareholder or shareholders to be sold at public auction (after thirty days' notice shall be given by posting such notice of sale in the office of the bank, and by publishing such notice in a newspaper of the city or town in which the bank is located, or in a newspaper published nearest thereto,) to make good the deficiency; and the balance, if any, shall be returned to such delinquent shareholder or shareholders." notes to be "counterfeit," SEC. 5. That all United States officers charged with the Fraudulent receipt or disbursement of public moneys, and all officers of stamped as national banks shall stamp or write in plain letters the &c., by disbursing officers and word "counterfeit" "altered" 66 or worthless," upon all bank officers. fraudulent notes issued in the form of, and intended to cir culate as money, which shall be presented at their places Officers liable of business; and if such officers shall wrongfully stamp any for wrongfully stamping. genuine note of the United States, or of the national banks, they shall, upon presentation, redeem such notes at the face-value thereof. Reports to SEC. 6. That all savings-banks or savings and trust comComptroller by savings banks, panies organized under authority of any act of Congress. &c. shall be, and are hereby, required to make, to the Comptroller of the Currency, and publish, all the reports which national banking associations are required to make and publish under the provisions of sections fifty-two hundred R. S., 5211, 5212, and eleven, fifty-two hundred and twelve and fifty-two hundred and thirteen, of the Revised Statutes, and shall be Penalties for subject to the same penalties for failure to make or publish failing to report. such reports as are therein provided; which penalties may be collected by suit before any court of the United States 5213. other banks in lumbia made laws. in the district in which said savings banks or savings and Savings and trust companies may be located. And all savings or other District of Co- banks now organized, or which shall hereafter be organized, subject to certain in the District of Columbia, under any act of Congress, which shall have capital stock paid up in whole or in part, shall be subject to all the provisions of the Revised Statutes, and of all acts of Congress applicable to national bankingassociations, so far as the same may be applicable to such Paid-in capital savings or other banks: Provided, That such savings banks of existing savings-banks. now established shall not be required to have a paid-in capital exceeding one hundred thousand dollars. Approved, June 30, 1876. LAWS RELATING TO THE BONDS OF THE DISTRICT OF COLUMBIA, CHAP. CCCXXXVII.—AN ACT FOR THE GOVERNMENT OF THE DIS- June 20, 1874. Vol. XVIII, p. 116. commissioners. Issue of 50-year 3.65 bonds. See act of Mar. 221. ed from taxation. Faith of the pledged to secure United States SEC. 7. That the sinking-fund commissioners of said Sinking-fund District are hereby continued; and it shall be the duty of said sinking-fund commissioners to cause bonds of the District of Columbia to be prepared in sums of fifty and five hundred dollars, bearing date August first, eighteen hun-3, 1875, post, p. dred and seventy-four, payable fifty years after date, bearing interest at the rate of three and sixty-five hundredths per centum per annum, payable semi-annually, to be signed by the secretary and treasurer of said sinking-fund commissioners, and countersigned by the comptroller of said District, and sealed as the board may direct; which bonds Bonds exemptshall be exempt from taxation by Federal, State, or municipal authority, engraved and printed at the expense of the District of Columbia, and in form not inconsistent herewith. And the faith of the United States is hereby pledged, that the United States will, by proper proportional appropriations as contemplated in this act, and by causing to be interest, &c. the payment of levied upon the property within said District such taxes as Amended by will provide the revenues necessary to pay the interest on v, 18, p. 332, post, said bonds as the same may become due and payable, and create a sinking-fund for the payment of the principal thereof at maturity. Such bonds shall be numbered con- Bonds to be secutively and registered in the office of the comptroller of registered. said District, and shall also be registered in the office of the Register of the Treasury of the United States, for which last named registration the Secretary of the Treasury shall make such provision as may be necessary. And said Prevention of commissioners shall use all necessary means for the prevention of any unauthorized or fraudulent issue of any such bonds. And the said sinking-fund commissioners are hereby, Exchange of authorized to exchange said bonds at par for like sums of indebtedness. any class of indebtedness in the preceding section of this act named, including sewer taxes or assessments paid, evidenced by certificates of the auditing board provided for in this act. * Approved, June 20, 1874. act Feb. 20, 1875 p.220. numbered and fraudulent issue. bonds for other 219 |