Instrument of transfer. ties 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 Discharge of Comptroller 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 associa tion was carried on. Such agent shall hold, control, and Powers and dudispose of the assets and property of any association which he may receive as hereinbefore 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, administrators or executors of deceased shareholders may may act in choos ing 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: guardians, &c., R. S., 5205, amended. Sale of stock of shareholders re sessment. "And provided, That if any shareholder or shareholders 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 disburs ing officers and word "counterfeit" "altered" or 66 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. &c. 5213. 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 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 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 ings-banks. now established shall not be required to have a paid-in capital exceeding one hundred thousand dollars. Approved, June 30, 1876. other banks in lumbia made laws. of existing sav MU LAWS RELATING TO THE BONDS OF THE DISTRICT OF COLUMBIA, CHAP. CCCXXXVII.-AN ACT FOR THE GOVERNMENT OF THE DIS- June 20, 1874. Be it enacted, &c. commissioners. Issue of 50-year 3.65 bonds. See act of Mar. 1875, post, p. 221. 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, 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 munici- ed from taxation. pal 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 __Faith of the the United States will, by proper proportional appropria- pledged to secure the payment of tions as contemplated in this act, and by causing to be interest, &c. 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 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 be and fraudulent issue. bonds for other 219 Feb. 1, 1875. Vol. XVIII, p. 305 terest on 3.65 of Columbia due Feb. 1, 1875. CHAP. XXXIII.-AN ACT FOR THE PAYMENT OF INTEREST ON THREE- Be it enacted by the Senate and House of Representatives of Appropriation. the United States of America in Congress assembled, That the sum of one hundred and eighty-two thousand and five hundred dollars, in currency, or so much thereof as may be Payment of in- necessary, be, and is hereby appropriated for the payment. bonds of District of the interest on the bonds of the District of Columbia, known as three-sixty-five bonds, due on February first, eighteen hundred and seventy-five, issued under the act entitled "An act for the government of the District of [20 June, 1874, Columbia, and for other purposes," approved June twentieth, ante, p. 219.] eighteen hundred and seventy-four; said interest to be paid by the Treasurer of the United States, or the assistant treasurer of the United States in New York, on surrender of the proper coupons: Provided, That the said sum hereby appropriated shall be considered and adjusted as a part of the proper proportional sum to be paid by the United States toward the expenses of the government of the District of Columbia, and toward the payment of the interest on the funded debt of the District. Approved, February 1, 1875. Feb. 20, 1875. Vol. XVIII, p. 332. June, 1874, sec. 7, p. 219. CHAP. XCIV.-AN ACT TO AMEND AN ACT ENTITLED "AN ACT FOR AND SEVENTY-FOUR. Be it enacted by the Senate and House of Representatives of Amending, 20 the United States of America in Congress assembled, That v. 18. p. 116, ante, the seventh section of the act of Congress entitled "An act for the government of the District of Columbia, and for other purposes," approved June twentieth, eighteen hundred and seventy-four, be, and the same is hereby amended by inserting the words "do so" after the fortieth word following the first period in said section, so that it will read: "and the faith of the United States is hereby pledged that the United States will, by proportional appropriations as contemplated in this act, and by causing to be levied upon the property within said District such taxes as will do so, provide the revenues necessary to pay the interest on said bonds as the same may become due and payable, and create a sinking-fund for the payment of the principal thereof at maturity": Provided, That registered bonds may be issued in lieu of coupon bonds as provided in said act or exchanged for coupon bonds already issued, and the interest of all said bonds shall be payable at the Treasury of the United States. Approved, February 20, 1875. CHAP. CLXII.—AN ACT FOR THE SUPPORT OF THE GOVERNMENT OF March 3, 1875. SEC. 16. That the Commissioners of the District of Colum- Redeemed bonds, obligabia and the commissioners of the sinking-fund of said Dis- tions, &c., to be destroyed. trict shall destroy by burning all bonds, sewer certificates and other obligations of every kind of the city of Washington, the city of Georgetown, or the District of Columbia, whatsoever, heretofore paid or redeemed by either of said boards under the direction of the Secretary of the Treasury, and shall preserve the evidence thereof as shall be prescribed by said Secretary. five bouds SEC. 18. That the three-sixty-five registered bonds of the Three-sixtyDistrict of Columbia, authorized by acts of Congress, approved June twentieth, eighteen hundred and seventy-four, and February twentieth, eighteen hundred and seventy-five, in lieu of coupon bonds, may be issued in denominations of one thousand dollars and five thousand dollars. Approved, March 3, 1875. 1874, c. 337, s. 7, v. 18, ante, p. 219. 1875, c. 94, v. 18, ante, p. 220. March 14, 1876. Vol. XIX, p. 211. [No. 4.]-JOINT RESOLUTION DIRECTING THE COMMISSIONERS OF THE DISTRICT OF COLUMBIA TO PAY THE INTEREST ON THE BONDS ISSUED IN PURSUANCE OF THE ACT OF CONGRESS APPROVED JUNE TWENTIETH, EIGHTEEN HUNDRED AND SEVENTY-FOUR, OUT OF ANY FUNDS IN THE UNITED STATES TREASURY SUBJECT TO THE REQUISITION OF SAID COMMISSIONERS, AND FOR OTHER PURPOSES. Be it resolved by the Senate and House of Representatives of the United States of America in Congress assembled, * * * Provided, That any further issue of three-sixty-five bonds Further issue under or by virtue of said act of Congress approved June hibited. twentieth, eighteen hundred and seventy-four, is hereby prohibited: And provided, That the said Commissioners [of the District of Columbia] are hereby directed to discontinue all work on streets, avenues, bridges, sewers, canals, and structures of every kind the payment for which is to be made in three-sixty-five bonds of the District of Columbia: of 3.65 bonds pro [Vol. 18, p. 116, ante, p. 219.] Work to be dis continued. |