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About The commoner. (Lincoln, Neb.) 1901-1923 | View Entire Issue (Jan. 13, 1911)
' F JANUARY 13, 1911 The Commoner, 11 'WW'r"' fr -y'T-Hmte'lTT - if, in the Judgment of said board, such a similarity does exist, and does create confusion in conducting: the business of cither or both of said banks, then said board may require the Junior bank in time of organization to so change or modify its namo as to prevent such confusion, and the change of name so mado shall be approved by said bank ing board. Sec. 32. No officer other than a di rector, who Is not an officer and no employe of any corporation transact ing a banking business under this act shall bo permitted to borrow any of the funds of the bank direotly or in directly, and no director of a bank shall bo permitted to borrow any of the funds of the bank without first having secured the approval of the board of directors at a meeting there of, the record of which shall bo made and kept as part of the records of said bank. Any officer, director or employe of a corporation transacting a banking business Under this act, who shall vio late the provisions of this section or who shall aid, abet or assist in a vio lation thereof, shall bo deemed guilty of a felony, and on conviction thereof shall bo punished by a fine not exceed ing one thousand dollars ($1,000) or imprisonment in, the penitentiary not to exceed five (5) years, or both in the discretion of the court. Sec. 33. No corporation transacting a banking business In this state shall directly or indirectly, loan to any single corporation, firm or individual, Including in such loan all loans mado to the several members or share-holders of such firm or corporation, for the use and benefit of such firm, corpora tion or individual, more than twenty per cent (20 per cent) of the paid up capital and surplus of such bank, but the discounting of bills of exchange, drawn in good faith, against actually existing values, and the discount of commercial paper actually owned by the- persons negotiating the same, shall not bo considered as money borrowed, and in no case shall the total liabili ties of the several shareholders of any bank, to such bank exceed fifty per cent of the paid in capital and surplus of Buch bank. Any officer, director, or employe of any corporation trans acting a banking business under the laws of this state, who shall violate, or knowingly permit a violation of the provisions of this section, upon con viction thereof shall be punished by a fine not exceeding five hundred ($500) dollars. Erovided, however, that the provisions of this section shall not ap- Ely to the securities of the savings anks enumerated in section 3C of this act. Sec. 34, No corporation transacting a banking business under this act shall withdraw, or permit to bo withdrawn either in tho form of dividends or otherwise, any part of Its Capital. If losses have at any tinjo been sustained, How to Get Rid of Catarrh A Simple, Safe, Reliable Way, and it Costs JNTotliing to Try Those who suffer from catarrh know its miseries. There is no need of this suffering. You can get rid of it by a simple, safe, inexpensive, home treatment discovered by Dr. Blosser, who, for over thirty-six years, has been treating catarrh suc cessfully. His treatment is unlike any other. It is not a spray, douche, salve, cream, or inhaler, but Is a more di rect and thorough treatment than any of these. It cleans out the head, nose, throat and lungs so that you can again breathe freely and sleop without that stopped-up feeling that all catarrh sufferers have. It heals the diseased mucous membranes and arrests the foul discharge, so that you will not be constantly blowing your nose and spitting, and at the same time it does not poison the sys tem and ruin the stomach, as inter nal medicines do. If you want to test this treatment without cost, .send your address to Dr. J. W. Blosser, 144 Walton Street, Atlanta, Ga,, and he will send you by return mail enough of the medicine to satisfy you that it is all he claims for it as a remedy for ca tarrh, catarrhal headaches, catarrhal deafness, asthma, bronchitis, colds and all catarrhal complications. He will also send you free an illustrated booklet. Write him immediately. equal to or exceeding undivided profits on hand, no dividend shall bo made; and no dividend shall be made by any bank transacting a banking business under tho laws of this state, to an amount greater than the net profits on hand less the losses and bad debts; Provided, however, that tho capital stock may bo Increased or decreased, in the manner following: First, the stockholders at any regular meeting, or at any special meeting duly called for such purpose shall by a voto of those owning two-thirds of the capital stock, authorize tho president or cashier, to notify tho state banking board of tho proposed reduction or In crease of capital and a notice contain ing a statement of the amount of such proposed reduction or Increase of capi tal shall bo published for four (4) weeks in some newspaper published and of general circulation in tho coun ty where such bank is located. But no reduction shall bo to any amount less than tho capital required by this actr and there shall bo no reduction of capital or cancellation of stock, until said reduction or cancellation shall first be approved by tho state banking board. Provided, that no reduction of capital or cancellation of stock shall bo made that will -impair tho security of tho depositors, and no Increase shall bo authorized by tho state banking board until a statement shall have been filed with said board, that tho proposed Increase of capital has been paid in, and said statement shall bo sworn to by tho president or cashier. Second, whenever any corporation transacting a banking business in this state shall desire to go into voluntary liquidation, they shall first obtain the written consent of the state banking board, who may, if they deem it ad visable, before granting such request, order a special examination made of tho affairs of such bank, for which tho same fees may bo collected as in reg ular examination. Sec. 35. Every stockholder in. tho banking corporation or institution shall be individually responsible and liable to Its creditors, over and above tho amount of stock by him held, to an amount equal to his respective stock or shares so held, for all its lia bilities accruing whilo ho remains such stockholder, and in case any person holding any stock in any banking cor poration shall sell, transfer or dispose of such stock, knowing that such bank is insolvent, he shall be deemed tho owner of such stock, and liable there on tho same as if such stock had not been sold, transferred or disposed of; and such liability may be enforced whenever such banking corporation shall bo adjudged insolvent "without re gard to tho probability of the assets of such insolvent bank being sufficient to pay all of its liabilities. Sec. 36. Any corporation, designat ing its business as that of a savings bank shall have power to carry on a savings bank business, as prescribed and limited in this act. Any savings bank may receive deposits from tho general public, and all deposits in any bank shall bo paid to depositors, or their lawful representatives when re quired and at such time and with such Interest and under such regulations as shall be prescribed by said bank and approved by tho state banking board, which regulations shall be printed and conspicuously posted in some place ac cessible and visible to all persons In the business office of said bank. The loanable funds of any savings bank, except the reserve provided for In this act. shall be Invested in bonds of the United States, or of any state of the United States or in the public debt or bonds of any city, county, township villago or school district of any state of tho United States, which shall have been authorized by tho legislature of the state, or when approved by the state banking board In other bonds of known marketable value, or shall be loaned on negotiable paper, secured by any of tho above mentioned classes of security, or upon notes or bonds so cured by mortgage lien upon unincum bered real estate: Provided. That sec ond mortgage loans may be made on Improved farm lands, but no loans shall be made on such improved farm lands, or other real estate which in cluding tho aggregate amount of in cumbrance thereon, shall exceed 60 per cent of the cash value thereof, or upon notes secured by collateral security of known marketable value or held as cash, or shall bo deposited in good solvent banks; Provided, That chattel mortgages shall not bo deemed col lateral security and savings banks are hereby prohibited from investing their funds in them. Sec 37. A pass-book shall be issued to each depositor in a savings bank for all money deposited on an open account. Such pass books shall con tain the rules and regulations adopted by such savings bank governing such deposits. In such pass books shall be entered each deposit made by, and each payment mado to such depositor, and no deposit shall be received nor payment made unless in tho pass book at tho time such transaction is had. Provided, that nothing In this section shall prohibit a savings bank from issuing certificates for legitimate de posits. Provided further; when any de posit is made in any savings bank by a person being a minor, tho said bank may pay to such 'depositor such sums as may bo duo to him or her, and the receipt of such minor to such savings bank shall bo in all respects valid In law. Sec. 38. Tho president and cashier, or tho business manager, of cvofy cor poration transacting a banking busi ness under this act shall causo to bo kept at all times a full and correct list of tho names and residences of all the stockholders In the corporation, tho number of shares held by each, and the amount of paid up capital rep resented by the shares held by eaoh momber. Such list shall be subject to the Inspection of all stockholders and creditors of tho bank, during business hours of each day on which business may be legally transacted. Such list shall be kept in tho olllco of tho bank ing corporation where its business Is transacted, and where all stockholders and creditors of the association may havo ready access to it. Any violation of this section shall be punishable by a lino of not less than fifty, and not more than two hundred dollars, or Im prisonment in tho county jail not less than thirty nor moro than sixty days, or both, In. the discretion of the court. Sec. 39. It shall bo unlawful for any 'officer-or employe of any bank' to cer tify any check drawn upon such banK .unless tho person, firm or corporation drawing the check has on deposit with tho bank at the time such check Is certified, an amount of credit on the depositors' ledger of such bank sub ject to tho payment of such check, equal to tho amount spccllicd in such check; but the amount of such check shall not be recoverable from the payee or holder except In the case of fraud. Whenever a check drawn upon any bank Is certified by any officer or em ploye of such bank, the amount there of shall be Immediately charged against the account of tho person, firm or corporation drawing tho same. Sec. 40. Any officer or employe of any bank who shall wilfully and know ingly violate any of tho provisions of suctions 32 and 33 of this act, shall bo personally Uablo under his bond for any loss to the bank resulting therefrom. bee. 41. Any bank, which is In good lailn winding up Its business for the purpose of uunsoiiuating with some oiner bank, may traiiblur Its resources and liabilities to ttiu oulilc witn witlcn it is in procebs of consolidating but no consolidation shall be maue wltn out tno consent of tne statu banning board, nor snail such Consolidation operate to deieat tno claim of any creditor or hinder any creditor In tne collection of nis deot against suen baniis or either of tuem. bee. 42. Any bank may voluntarily liquidate by paying olf all its deposit or in lull, and upon filing a cercined statement with tho stute buiiKing board setting fortli tho lact tnat an Its liabilities have been paid, and tne surrendering of its eertineato of au tnorlty to tiansact a baiiKing business, It snail ceato to bo suojec't to tne pro visions of tnis act; provided, tnat the state banking board snail cause an ex amination to be made of any such bank, for the purpose of determining tnat all its liabilities, except to stock holders, have been paid, n Sec. 43. Any banic may place its aflalrs and assets under control of ttio state banking board by posting on its door the following notice: "Tnis bank Is In the hands of the stato banking board." The posting of such notice, or the taking possebsion of any bank by tho state banking board or by any bank examiner, snail be sufficient to piace all of Its assets of whatever na ture, immediately In the possession of tho stato banking board, and shall op erate as a bar to the levying of attacn ments or executions thereof, and shall operato to dissolve and releaso any attachment levied thereon within thirty days next proceeding sucli action. Sec. 44. For tho purpose of prOVld-fnn- n ennrnntu ftinfl fi- flirt nrnfmtlnn I of depositors in banks, every corpora tion engaged in tno business of bank ing under the laws of this state, shall be subject to assessment, to bo levied, kept, collected and applied as herein after provided. Sec. 45. Within thirty days after the taking effect of this act, and on tho first day of December, 1909, and on the first day of Juno and December of each year thereafter, every corporation en gaged in banking under the provisions of this act, shall make and file with the state banking board a statement in writing, verified by the oath of its president, vice president or cashier, showing the average daily deposits in its bank for the procedlng six months, exclusive of public money otherwise secured. And on tho first day of the month next succeeding the date fixed for the making and filing of such state ment, the state banking board shall levy assessments against tho capital stock of each of said banking corpora tions as follows: Within sixty days after the taking effect of this act, one fourth of one per cent of the average dally deposits, atf shown by the first statement of such average dally de posits required to be mado and filed by the provisions of , this, section; on.the first day of January, 1910, one-fourth HALF PRICE WHOLE maohiinje: ssLsssssssBssssssssTiaisKyasff &TJk tI1sFmj Wlica wc nay $50 ON EASY PAYMENTS FOR A Standard No. 3 Oliver Visible Typewriter AFTER FREE TRIAL It Is notuml you sliotiUl wonder wlioro tho Jokor In n iroo trml of the inuohfne? TIuto 8 no Joker and wo can provo It: but wliv nfllm 1Cl!,?,iil,iV2.,t flV0 lnyH ,n -Vour own hom or uiic?o s& s.Minr or icst you ,,k- U' UU Wo i know wlint It'a worth nnd tho romnrkablo bar- '" ','!! pll,.."r' A sln.nd0 (1 ,0 'flch no for 1M. Jlut wo won't arw into po hit with you. IV can or to Kcml yo tho manliltio. ii. J?Sn,iy 1?. b!'..uttn brl"K "n tll band nod mnko tho nol.se. Jlut that'n not our way. rt won't ho ihte ml. or our talk that boIIs you; hut tho miieUlne. Vokllow t' good cnouKh to convince you. If It ten t, wo loo; send It back atnuroxppiuf. Wo'll not fnoucli. Many otliprn will want your ehanco-and got 1L lfn all up to tho jnaolilne. 1 KdCIelPf ION J,1,8!!!"5 nniT'-nvery letter In plain sight a. soon a. finlshrri a nccrstltv n w. UMVHHSAfc KISYll'Ulllr jm standard typewriters have adopted the Universal Key board-you w "id S time learn! 'VeaVhTiah iTMiver w clet!. CI.KAIj, SIUIII WOIIK The hard iteel type face make clear-cu Impressions and beautiful work, the quality of "be lyim& Al wsl?irl e ct,p?.n ,he. ess of a letter! . ii . , V lhT l ,1C U-shaped type-bar, the Oliver' moit distinctive feature. gives a very wide bearlngY This keeps the letters even on the line. Vou have seen the work of other machines where some letters were above and some be .?..!.. i T.',c onc-P'c escapement mechanism elves perfect sparine lie'wcen the letters. CAKIION C'OI'IKS-An excellent manlfolder because of the down stroke of the type-bar, giving more power to the stroke than any other machine has 20 copies II you like. Cuts a per fect stencil for mimeograph. BI'ACINO Variable spacing device Is InstanUy adjustable to Hiiii?iri iwiu cVor on "ruIert PaPcr. ..it UJ,KH-Draw horizontal or vertical Hnes-wlth type and ribbon. ' WMITK8 IN COLOIIS-.The Oliver originated the two-color writing no rrianj'c. of ribbon nccennarv to write In anvnlnr OAMIS, HILM, bTATEMI N rS?UIIK IKOALhWonk u$ iriTv",,,!l,eas.c an'' dIsPatc on this bandy machine. bIHIMUTV Not lumbered with fads of lltdc practical value that reduce mechanical efficiency and keep a machine constantly out of order. Less than one-third as many parts as the other machine. There Is practically no wear-out to this Sturdy typewriter. I.iailT ACTIOX Actual tests with pressure gauge show the ullmi k! f f,';.,tn,.,5.,, " any anu"J typewriter. MKl'lllKICAI.I.i COKRKCT The Ingenious arrangements of tne working parts canno be described adequately on paper unllilf.lf,l,lJ,J'.AQR.rf.fJ!jf,e, bV y" w,)en you use the machine. l'OHrAHM.COrfl'A(,T-TheIightestofallsL-indard machines. Most of the weight Is In the base, which reducch vlbMtlon and p,iCL?5fV.'ip.0rvk,l,B parts ,n a compact, convenient poslitoti. i.ht lUhfttl Always ready for business; always efficient. rnlii'i v'-i-l P"ct,cal thing that any typewriter will d ,. i-umi JiKTK Metal case, base board, tools, etc., accompany earli machine nr thlnj' extra to buy. KABY TO rEAUN lilaborate Instruction book Is a part of the equipment. It Is so plain and the machine Is so simple that yoV.c ? . w..m.c. a" efficient operator with a few days' practice. UUAKAN rf.l2l)-Thls machine Is In perfect condition and is guaranteed for one year against any de ect In materials or workmanship. If In any respect you find It not entirely as re presented, return it without a cent of cost to you. It's all up to the machine Kill mit tllO nmirwui rrlvlitr mtVwnvxetn inot aIaU. llfih your reliability We'll jdilp tho machine. You keep It flvo diiys, without tTopost. Then ship It back at our expense, or Bond us $5,00 at onco and ?5.0a month without Interest fori) months. It'a all up to tho machine. Typewriters' Distributing Syndicate 815-57 Stato Street, Chicago T1CIAJL OIIDEK COUPON TVPKWRITKUS DISTWBUTING SYNDICATE 015-57 State Street, Chicago, III. Gentlemen: Ship me Oliver Typewriter, Model No. 3, on approval, f. o. b. Chicago. II entirrly satisfactory, I agree to remit 15.00 within 5 days from date I receive the machine, and 15.00 each month thereafter for 9 months, until the full purchase price of 150 Is paid. Otherwise I will return the 'ypewritcr to you at your expense. It Is understood that the title will remain In you until the purchase price Is paid in full. Name. Address. . RRFHIlBNCESt . CtyV . wtotfle MJii4ii)Mifc tJUVfeUaiUiWLv(ia t "j, ..- ... c ,ttaMsWtai.i ttAJUlj.