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HOLDERS OF GOVERNMENT SECURITIES- Continued :

To select place for payment of interest on registered stock.....
Should notify Register of change in address.....

69

70

I.
INTEREST:
When payable in coin....

79-82
When it ceases to run.....

9, 25, 74, 75, 76, 78, 154
On registered bonds, where payable........

69
transferred after books are closed, to whom payable..........57, 69
of funded loans, paid by check sent to address of holders........ 69
of all other loans, payable at designated offices....

69
general rules concerning....

69, 70
disposition of, when not claimed in ninety days.....

70
On coupon bonds, how and where collectable.......

70, 71
in cases of called bonds or detached coupons..

76, 77
May be paid before maturity; when subject to rebate.....

71
On funded loans, exempt from taxation.....

87
Collection of, on bonds deposited with Treasurer by national banks......

117

L.

35

42

41
42, 43

108, 134

123
136, 152

142

LEGAL-TENDER NOTES: (See United States Notes.)

Origin of the term; for what receivable....
For what they are not receivable..........
Constitutionality of the laws relating to....

Dates and descriptions of issues..
LIABILITY: (See National Banks.)

Of stockholders in national banks; extent and enforcement of............

banking associations; limitations and restrictions affecting.
directors and other officers in their individual capacity.....

executors, trustees, &C.........
LIMITATION:

No statute of, against matured bonds........
LOANS:
Outstanding, not matured, payable in coin....

matured, but not presented for payment.
Not bearing interest. (See Debt of the United States.)

List of, from 1776 to 1872....
LOST BONDS:
If registered, notice of loss to be given Treasury Department...

may be duplicated
Proceedings for obtaining duplicates....
Coupon bonds renewed only when destroyed or defaced...
How such renewals are obtained........

.... 25

7

25

25

93-96

....60, 66

61
62, 63
66, 67
03, 68

M.
MONTHLY DEBT STATEMENT:
Description of......

.... 77, 78
Balances of old loans included in
MUTILATED CURRENCY. (See United States Notes; Fractional Currency................. 49

78

PAGE.

N.
NATIONAL BANKS:
ACTS OF AUTHORIZATION .......

101-142
amendatory of the banking laws.

142--159
ANNUAL REPORT OF COMPTROLLER; what to contain

140
APPOINTMENT OF OFFICERS. (See Election. Officers.)...

105
ARTICLES OF ASSOCIATION. (See Organization)......

103
ASSIGNMENT of depositor's claim, after failure of bank and before appointment of
receiver, not good as a set-off in favor of a debtor of the bank..

134
BAD DEBts defined; to be deducted from net profits before dividend.

124
Banks organized as national, cannot be converted into State banks....

129
designated as depositaries, under banking laws, are public depositaries.. 130
BANKING ASSOCIATIONS, how formed. (See Organization.......

103, 104
no limit to number of, or to aggregate amount of capital....

103
beyond minimum amount, to capital of each bank.

103
must deposit Londs whether circulation is obtained or not

103
sufficiency of proof concerning formation of, a question for Comptrol-
ler........

104, 109
BANK NOTE PAPER. (See Counterfeiting.).....

140
BANK RESERVES. (Seo Redemption Agencies. Reserves...).....

120
BANK SHARES may be constitutionally taxed by State authority; rate must not
exceed that imposed on State banks....

.... 126, 127
but may equal the highest rate imposed, when a lower rate exists
as to banks specially exempted.....

127
BILLS OF EXCHANGE, discount of, when not usurious...

120
Bonds, registered only, may be deposited to secure circulation.....

103, 111
may be issued in lieu of coupon for purposes of deposit..... 111
deposited, amount necessary to perfect organization.....

110, 111
always to equal one-third of capital stock actually paid in....... 111
when to be increased.........

111
not to be diminished below requirements of act

118
when excess may be taken up...

111
to be transferred to Treasurer in trust...

112
transfers of, by Treasurer, to be countersigned and recorded by
Comptroller .....

113
to be examined annually and compared with Comptroller's
books, &c., by officers or agents of banks......

.... 116, 117
result of examination to be certified to Treasurer by such officers
or agents......

117
to be held exclusively as security for redemption of notes ; de-
preciation in, to be made good.....

117
may be exchanged for other United States bonds.

117
returned on surrender and cancellation of circulating
notes..

118
or on deposit of lawful money..

128, 157
cannot be retained as security for other claims of the United
States...

128
sale of, by Comptroller, for purposes of redemption.....

133
interest on, to be collected by the banks...

117

PAGE.

wound up..

NATIONAL BANKS- Continued :
BUSINESS OF BANKING, when it may be commenced......

112
where to be transacted

106
certificate authorizing such commencement to be published 112

when it may be with held by Comptroller......... 109
By-Laws to be established by board of directors....

106
may, subject to the provisions of the act, regulate the transfer of stock,
election of directors, etc.......

106
CAPITAL STOCK, no limit to amount of..........

103
amount of, required on organization...

104
to be divided into shares of $100.....

108
fifty per cent. to be paid in before commencing business.

109
remainder, how and when to be paid ........

110
to be deemed personal property .....

108
mode of transfer to be fixed by articles or by-laws.....

106, 108
increase of, provisions relating to.

109
reduction of, how effected; limitation of...

109
withdrawal of, while bank is in operation, forbidden..

124
of delinquent shareholders, when and how to be sold..

110
not realizing amount due and expenses, forfeited...... 110
if not sold within six months, to be canceled.......... 110
and any deficiency in capital caused thereby to be
made good in thirty days, or association to be

110
regulations for payment of duty on..

162, 163
CASHIER, to be appointed by board of directors.

... 105
bank responsible for his acts.....

105
limitations of responsibility, when not effectual.

105
when his authority may be inferred

105
to give security, if required by association...

105
may certify payment of installments of capital.

110
verify final statement of organization..

112
sign memorandum on bonds transferred to Treasurer

112
to keep list of stockholders......

125
may verify reports, returns, &c...

.117, 126, 128, 150, 151
may waive protest....

131
CERTIFYING CHECKS, unlawful, unless amount certified is actually on deposit....... 151

the act of, by competent officers, creates a valid obligation on
part of bank

151
contrary to law, subjects banks to proceedings for closing up,
under section 50, act of 1864....

151
CHARLESTON, when to be added to list of cities where banks may hold three-fifths

of lawful money reserve of associations located elsewhere.......... 121
CIRCUIT COURTS OF UNITED States, have no jurisdiction in equity to restrain
Treasurer or Comptroller in disposing of bonds on deposit.....

139
CIRCULATION, how proportioned; original limit of total issue $300,000,000.......... 114

increase of $54,000,000 authorized; how distributed........... 29, 114, 152
of currency banks, limited to $500,000 each......

153
of gold banks, limited to $1,000,000 each.

153

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NATIONAL BANKS—Continued:
CIRCULATION -Continued:

$25,000,000 of, redistribution of, in States having less than their

proportion; provisions concerning. (See Comptroller.).. 114, 155, 156
CIRCULATING NOTES, how provided; denominations and form of ...

115
plates and dies to remain in charge of Comptroller..

125
when to be furnished for use

113
not more than one-sixth to be under $5....

115
none under $5, after resumption of specie payments.....

115
must be signed by president or vice president and by cashier.. 115
and payable on demand at place of businesss

115
when banks may issue; for what they are receivable..... 115, 116
none other than those specified to be issued by banks.... 116

or furnished by government officers, under penalty
of fine and imprisonment..

118
worn-out or mutilated, to be replaced..

116
redemption of, how secured. (See Reserves.)..

-).....

113, 114
provisions relating to, 53, 121, 122, 128, 132, 135, 156, 157
of banks in liquidation, redeemed by treasurer.

.... 53, 128
of banks in ALBANY, BALTIMORE, Boston, CHICAGO, CINCIN-
NATI, CLEVELAND, DETROIT, LOUISVILLE, MILWAUKEE, NEW
ORLEANS, NEW YORK, PHILADELPHIA, PITTSBUGH, SAINT
LOUIS, SAN FRANCISCO, and WASHINGTON City, to be re-
deemed at NEW YORK.....

121, 122
of banks in other places, to be redeemed at a bank in either of
the cities named. (See Redemption Agencies).....

122
of each bank to be received at par by every other bank ...... 122
not to be hypothecated or used to increase capital stock. ....... 124
withholding of, from use, when a misdemeanor....

149
amount of, issued under act of July 12, 1870, to be reported
monthly by Comptroller ...

153
COMPTROLLER OF THE CURRENCY:
How appointed; tenure of office; salary....

101
Oath of office; bond.....

101, 102
Not to be interested in national banks

102
Duties and Functions of :
To file and preserve articles of association......

103
record and preserve certificates of organization.

104
certify documents to be used as evidence...

102, 104
authorize associations, when duly organized, to commence busi-

105, 112, 130
examine and determine when associations are entitled to such author-
ization........

112
issue his official certificate for that purpose; contents of...

112
record and countersign transfers of bonds belonging to associations..... 113
advise the parties concerned by mail .....

113
deliver to associations which have complied with the law their quota
of circulating notes........

114
furnish gold notes to associations organized as gold banks..

154

ness....

PAGE
NATIONAL BANKS-Continued:

COMPTROLLER OF THE CURRENCY- Continued:
Duties and Functions of:
To supervise the engraving of plates and dies.....

115, 125
replace worn-out, mutilated, and lost notes..

116
make regulations for the entry or record of such notes....

116
authorize associations to receive interest on bonds.......

117
require associations to make up deficiency in case of depreciation in
market value of bonds deposited...

117
and to make good any deficiency in lawful money reserve....... 121
in case of default, to proceed to close up the association..... 121
take like proceedings in case of failure to select a redemption
agency, or to redeem circulating notes thereat......

122
suspend, after a preliminary examination, banks failing to redeem
either at their own counters or at redemption agencies...

131
appoint a special agent to make an immediate further examina-
tion .....

132
in case of insolvency, and within thirty days after notice of failure,
to declare bonds and securities in pledge forfeited...

132
and thereupon to notify holders of circulating notes to present
the same at the Treasury for payment...

133
cancel or sell forfeited bonds.......

132, 133
and appoint a receiver..

133
advertise for claims against the association..

135
and from time to time, after providing for any deficiency in

redeeming circulation, make ratable dividend of proceeds
realized by receiver from assets of association....

135
institute suit, in his own name, for forfeiture of banking privileges,

&c., in case of wilful violation of banking laws by directors..... 136, 137
institute proceedings for winding up, in case of improper certification
of checks.....

151
appoint from time to time, with approval of Secretary, examiners of
banks.

137
make an annual report to Congress; contents of..

140, 141
report to Secretary, monthly, amount of circulating notes issued under
the act of July 12, 1870, authorizing increase..

153
take steps for redistribution of circulating notes under same act....... 156
give preference in certain cases in such distribution .......

153
make requisition on banks having a surplus circulation for a pro rata
return thereof....

156
in case of non-compliance, to sell bonds of defaulting association to an
equal amount..

156
make regulations, subject to approval of Secretary, for removal of

banking associations from one State to another in certain cases....... 157
sell bonds of any bank going into voluntary liquidation and omit-
ting to secure, within six months, the redemption of its notes.

157
And after providing for such redemption, with expenses of sale, to pay

over balance of proceeds, if any, to such bank or its legal representa-
tives.......

158

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