Page:United States Statutes at Large Volume 44 Part 1.djvu/284

 ·\ § 168 T1T1;.1~: 1;.2.--»11.4x1c.s _ B:lISCEL_IQANEOl3S PROVISINS_ REGARDING UNI-TED . S‘Zl‘ATES_BONDS IN RELATION To NATIONAL. BANKS — 168. Taking up heads;. return of ’ circulating notes.-Any. ass»¤.ja·iatioa that may desire to reduce its capital er te close up l its business and dissolve its erganizatioa, ma)? `take··up its heads upo11‘i·eturn*ing_t0 the comptroller its circulating notes iu the proportion hereiaafter required, or may take up- any excess of bonds upea which no circulatininotes have been delivered. (R., S. § 5160.) _ ‘ _ · ‘ 169. Exchange of eeapen for registered bonds.———To facilitate. a ee%nplfaaee' with the preceding section, the Secretary- of the ·Ct‘reasury is authorized to receive from an;} associations and cancel, any United`States coupon bonds, and to issael ixrlleu ‘ thereof registered heads of like amount, bearing a like rate of -int4·r<·st.. and having- the same time to run., (R. S. § 5161})  ` _ 170. Transfers of liondstxaaaner of making.--All transfers ef United States boutls, made byi any association under- the. previsienstof this chapter shall be made to the Treasurer of the United States in trust for the association,`_witl1_a meino-, l‘8!ldllIIt»_1\TIitt€1l‘(}.I' printed'0n_ each bond, and signed bg the cashier, or some other officer of the association making the deposit. A. receipt shall be given_·to_ the ‘association,· by the Comptroller af the Currency, o1··l»;3‘a’ clerk appointed by.hi_m for that purpose, stating that the bongl is h9l(1iI1_tI‘llSt for the association on whose bel1alf the transfer is made, .. antl seqnrity for the redemption and`paymenf of anycirculating notes that have bé€!l€O1‘_1H2l}’ be deliveredjo such association. No assignment or tra`nsfe’r of any such bond by_ the Treasurer shall be. deemed avalid _ unless c‘euntersigued· by the ·Co`1nptrollcr C of the Currency. ‘_(~R. S. 551132.). ‘ ~ .· `_ t ·-  ` _17l. Registry of transferred »bonds.+—The Comptroller of the Currency shall keep in his oftlce a book ‘in which he shall canse ‘to be enterul, imnzetliately upon countersiguing `it, every . transfer er assignment by the Treasurer, of any bonds belongiagte a national banking association, presented for -.his signature; Heshall state in such entry the name ot `the associatiaa from whose accounts the transferis made, the name rof‘ the partir to. wherix it is made, anti the par value of the bongls transferretl. (R. S. § 5163..)‘ _  _ ‘ _   __ _ 172. Notice of transfers;-¢yq'.l3he Con1ptro’!er`of the Currency shall, lmmediate,ly` upon countersigning and entering any ` . transfer or assignment·by_tl1e Treasurer, oi any bonds belonging-to a national banking association, adrise by mail the association from whose accounts the transfer is made, of the hind aud nuraerical deslguatiea of the bdl1dS,'{1lld the amount “ thereof, se transferred. (CR. S. 5 516-i.)_ _ - ` ·. 173. Eximiaatioa efiregistry and bonds.—The1Co:11p_troller of the Currency shall have at all times, duringotllce hours, · access to the books of the Treasurer`of the `United States for theparpose of ascertaining the correctnessot any transfer or assignment of the bonds qeposlted by an association, presented te the comptroller —. to countersign; and the‘_Treasnrer_sl1all hare the like access to te bookmentioned in section 171 of this title, during office hours, to ascertain the correctness og th! entri€S in thesauxe; and the comptroller shall also at all times have access to the bonds on deposit with the Treasarer, to ascertain 'thelr amount and condltioh._, (R. S. { 51Q§._)_ p . · 17 4. Annual examinatién °i¤t' bonds by' •ssoeiafions;——Ex·er$* . erssnciatibn having bondsdeposited ln the o§ice‘et_the·'1:reasurezof the United States shall, once-or oftener in each Basal year; examine __an_d connpare the bonds pledged by the association with the hooks of the Comptroller *0.t the Currency and with the act-cmutsfot the association, and, if they are found correct, to execute to the Treasurer a certlhcate setting '(erththe ·dlf· · ferent kinds and the amounts thereof, and that the saine are ` in the possession and custody of ,the‘ Trcastlrer atflie date of the cbrtiticaté. Such examinatit‘»a`shal1Cbc made at sinch

{ AND BANKING W {fe) timenor times, during. the _0idinary` buéiuesstheurs, ne nt,. Treasurer and the c0mptr<>ll€P,I 1‘€Spr3•2tively, may ge1p(·,_,,.,,,; · may -be made by an cffieer or-egent.0f such aeseciatimi, thee appoiuted in writing fer thatopurpese ;_..sm<1 his ce=¤·¤is&··;¤:;». before mentioned shall be of like force and validity as it exe. quted by the president Gr cashier'. A dupiicate of sum {·,.,·,;;,_ ‘ \Qut(~),·SfgI1(}d by the-Treasurer, shall he retained by me ,,._,,,_ _cIation. (·-R._ S. § 5106.) ‘ I · ,· — I ‘ 175. Custody of beudsand culleetien of jntereszt.-——T1¤· hmm -u·p¤Sgg;·;·€d to g_m1_dep0s,it€d_\Yifh the 'Treesurer of the tf;;§1,,,g Statesnby any rueseeiatien, tier the security of its eirt·p%am:e u0tes,__sha1l' be held .exet1isively fe`: that lpuzfpose, until sum " netes are redeenned, except as provided in this chapter. Tm- Comptroller of the Currency ‘slxs1ll_ give to any Such as;s¢¤·i;¤ziee `l)}\'Q·l‘S  {1ttOI'I1t}y tf) _I°€c€iYé   appfgpriate tf}   OWU X;-gy the interest 011 the bonds which it hss'.s0 transferred to the . Tl°|:38Sl11‘€1';.bUt such powers shall become inoperative ;e·l¤enever such, association fails tb redeem ite, leiréhlatiug ·i¤·m.' W§1e1ieve1·_ the market or east; venue-,0: auy beads thine de- 0 poeited with the T1'€&S\]I‘€I· is reduced below the amount ¢»fih·; ·circu1z1tionJissued for the same, the eemptreklef may denuued and ·1‘QCOiY€'th€ amount ofsueh depreciation in other- Ynim] States bonds at cash véalueybr in money, frein the assn<·i:1tE4·:;, te  deposited with the -Treesurer ae Iougias seen ¢l•=p;·e-.‘ eiatiun ‘c0n`t}nueS. And'. the cemptreller, upon the terms p:·<·— scribed_,by the Secretary of the Treasury, may [}0l'lni·i_`fl?1' (‘XC']i{¤t_1]‘g€ to be `guade of any of the bonds depoieited wiih the Treasurer by any 41ssegia_tiet the · return dt guy, bonds to the association _’whieh tmuS=fer‘re<l·_1h·e sanine, in sums of net 1ess‘·thzirie$1,0Q0, upou the suxjrerzdvr te him yand. the ·can»ee1lati0u of a‘.pmp6rtionate'am<;u11t of save circulating uetesr Prmbidéd, That the remaining heady whil·h_ ·shal·l have been trm1_sferi·ed` by the association okerihg to sur- remler eireulatirag`noteseare equéil `tb the amount requited fw tlnecirculznting notes. not surrendered by such associative,. and that the amountbof bonds in the hahds of the Treasurer is, not dimiuishednbeluw the amount requiredto be kept qu clegmitwith him, aud that there has beer; no failure by the aes<»ci:m¢_ée to redeem lite eireulating notes, nor nay éther violation by it `ot the provisions bf this tchaptergand that the marketer cash Q value of the 1°€Il'1_&iQiD_g‘b9DdS. is not beiew the amount requimi _ for the circulation issued for the-same; `(R. S. 5 51632). · _ 176; Withdrawal of notes on deposit of mane: and .with‘=·’ ` drswal of bonds.-———Auy ·assbeiation`,s_or§auized under this cine:} ter, desiring to withdraw its circulating notes, .111 whole or ih part, may, upch the deposit er 1¤wm1.m¤¤ey,J¤q_1zu the Trefgsurkf `of We United_States in sums et pot lesethen @,000, take rm the bends which said asseciatienhae eu deposit with the ·Te1`%!1§l\l’t.*I` t for the seeu1jity.0f such circulating notes;-which bonds slum • bérassigued to the baulg in the manner specided in eectiurl 22 ° and the outstanding notes of said association, to au gameunt equal ·t0 the legalltender notes deposited, shall. be redeemed el _ ~ the Tree.sury ot the United States, euddeetreyed as now p¤·e:.,, vided by law: ~Pr0v·ided~, That the amount ef,the_b0m1e rm deposit · yer circulation shall not be reduced below $50,. .(Juue 20, 1874, c. 343, { 4,·`18‘Stat. 124.) · `. . 177. Amount of bends required en deposit; reductieu of smqunt or retirement in full of circulatiiig ;¤etes.—-N_:¤rit»m1 banks now organized, having abepitel ez $150,000, or less, emu not be required to keep eudeposit pr deposit with me ’1‘re:¤§m‘<*¤‘ of the United States United States bends in exeess ot one-femmk of their ca-gilitaleteck as security for theixicirculhting nen~>:: • but such haake shall keep ‘0n· deposit or depdsitpwith the Treasurer ei the United States the emeunt ot hondzras lwwu required. And such of th0S€,`bZlIlkS··hil)’il}g 0¤_deBo_sit hmnds