Page:United States Statutes at Large Volume 13.djvu/133

 THIRTY—EIGHTH CONGRESS. Sess. I. Ch. 106. 1864. 105 of the facts so reported, and of any other facts which may come to the H WP°;*“?1°g;f’ knowledge of the comptroller, whether by means of a. special commission u3%é m ::m- appointed by him for the purpose of inquiring into the condition of such meme business, association, or otherwise, it shall appear that such association is lawfully °?";;Pwc;‘Qe entitled to commence the business of banking, the comptroller shall give y to such association a certificate, under his hand and official seal, that such association has complied with all the provisions of this act required to be complied with before being entitled to commence the business of banking under it, and that such association is authorized to commence said business accordingly; and it shall be the duty of the association to cause said cen-tiiicate to be published in some newspaper published in the city or cmigicmw county where the association is located for at least sixty days next after b° P¤bh°*‘°d· the issuing thereof : Provided, That if no newspaper is published in such city or county the certificate shall be published in a newspaper published nearest thereto. Sec. 19. And be it further enacted, That all transfers of United States Tmusfers of bonds which shall be made by any association under the provisions of this act shall be made to the treasurer of the United States in trust for to th.; mum; the association, with u memorandum written or printed on each bond, and i¤ ¢¤1¤*» sigued by the cashier or some other oiiEce‘r of the association making the deposit, a receipt therefor to be given to said association, or by the comptroller of the currency, or by a clerk appointed by him for that purpose, How °K°°¤*°*’~· stating that it is held in trust for the association on whose behalf suqh transfer is made, and as security for the redemption and payment of aniy circulating notes that have been or may be delivered to such association. No assignment or transfer of any such bonds by the treasurer shall be deemed valid or of binding force uqd effect unless countersignad by the comptroller of the currency. It shall be the duty of the comptroller of the currency to keep in his 0Hice a book in which shall be entered the Comptrollerw name of every association from whose accounts such transfer of bonds is ]§:';;“£““f°' made by the treasurer, and the name of the party be whom such transfer ’ is made ; and the par value of the bonds so transferred shall be entered therein; and it shall be the duty of the comptroller, immediately uppn couutersigning and entering the same, to advise by' mail the association fiom whose account such transfer was made of the kind and numerical designation of the bonds and the amount thereof so transferred. Sec. 20. And be in fmlm enactcci That in shall be the duty of me Tmmmmm comptroller of the currency to couutersign and enter in the book, in the ;‘;'5“;;’t;f°‘&°‘1 manner aforesaid, every transfer or assignment of any bonds held by the treasurer presented for his signature; and the comptroller shall have at all times during office hours access to the books of the treasurer, for the Books to be purpose of ascertaining the correctness of the transfer or assignment pre- ¤°¤°¤Sib1°· sented to him to countersigu; and the treasurer shall have the like access t0 the book above mentioned, kept by the comptroller, during office hours, to ascertain the correctness of the entries in the same ; and the comptroller shall also at all times have access to the bonds on deposit with the treasurer, to ascertain their amount and condition. Sec. 21. And be it further enacted, That upon the transfer and de- Associations, livery of bonds to the treasurer, as provided in the foregoing section, the 325* f;::‘g§’éh_ association making the same shall be entitled to receive from the comp- cuyéiug nom, troller of the currency circulating notes of different denominations, in blank, registered and cogmtersigned as hereinafter provided, equal in gg3Q3Q1g3Q amount to ninety per ceufum of the current market value of the United States bonds so transferred and delivered, but not exceeding ninety per Limit.): cnntum of the amount of said bonds at the par value thereof, if bearing =¤¤°¤¤'>· interest at a rate not less than five per ccntum per annum; and at no time shall the total amount of such notes, issued to any such association, exceed the amount at such time actually paid in of its capital stock. Sec. 22. And be it further ¢mactcoL That the entire amount or notes