j:4R3 , 
 
 ^■3/( The Banking Laws 
 of Illinois 
 
 Compiled by W. H. Kniffin, Jr. 
 
 Compliments of the 
 
 Drovers Deposit National Bank 
 
 Chicago 
 
 UC-NRLF 
 
 B 3 12D 777 
 
GIFT OF 
 
 ^^^m>^ji^ ®aJpe,<i,Jc oyV^Wv^ 
 
 
 v>uc:^.o.^t> 
 
Digitized by the Internet Archive 
 
 in 2008 with funding from 
 
 IVIicrosoft Corporation 
 
 http://www.archive.org/details/bankinglawsofillOOillirich 
 
COMPLIMENTS OF 
 
 United States Depositary 
 
 CAPITAL and SURPLUS 
 
 $1,000,000.00 
 
Quick Service 
 
 and careful attention 
 
 given to all 
 
 business entrusted to us 
 
 Accounts 
 
 of Banks and Bankers 
 Merchants, Corporations 
 and Individuals invited 
 
 Ajcts 
 
 as Reserve Agent for 
 National Banks 
 
The Banking Laws 
 of Illinois 
 
 Compiled by 
 
 W. H. KNIFFIN, Jr. 
 
 Copyright, 1911, Bankers Publishing Co., N, T. 
 
'"r^^j^^ 
 
 Statement of Condition 
 
 June 7, 1911 
 
 RESOURCES 
 
 Loans and Discounts - - $5,627,329.36 
 
 Overdrafts - - . . 1,741.39 
 
 United States and other aondi 743,348.56 
 
 Cash and due from Banks ' - 3,764,815.76 
 
 ' ' ' $10,137,235.07 
 
 $600,000.00 
 
 443,233.07 
 
 441,600.00 
 
 2,935.24 
 
 8,649,466.76 
 
 $10,137,235.07 
 
 LIABlLIllES 
 Capital Stock paid in - - 
 Surplus and Profits 
 Nat'l Bank Notes Outstanding 
 Reserved for Taxes 
 Deposits ----- 
 
Banking Laws of Illinois 
 
 STATE BANKS 
 
 ORGAN IZA- ^^ *^^ ratification of this Act 
 TiON AND by a vote of the people in EC- 
 management ^oj.dance with the Constitution 
 of this State^ (the Act was ratified as herewith 
 given), it shall be lawful to form banks and 
 banking associations, as hereinafter provided, 
 for the purpose of discount and deposit, buying 
 and selling exchange and doing 
 POWERS a general banking business, ex- 
 
 cepting the issuing of bills to 
 circulate as money, and such banks or banking 
 associations shall have the power to loan money 
 on personal and real estate security and to ac- 
 cept and execute trusts. (Section 1.) 
 
 247114 
 
When any association of persons 
 APPLICATION desire to avail themselves of the 
 AUDITOR, provisions of this Act they may 
 
 organTze^ ^Pply to the Auditor for per- 
 mission to organize, stating 
 their place of business, the amount of capital 
 and name under which they desire to organize 
 and the time for which such association shall 
 continue, which statement shall be under their 
 hands and seals, and acknowledged before some 
 officer authorized by law to acknowledge deeds; 
 and the Auditor shall issue them a permit to 
 organize. But no permit shall be issued to 
 more than one association of the same name; 
 and all persons or associations formed under 
 this Act shall have their capital stock divided 
 into shares of one hundred dollars each. 
 (Section 2.) 
 
 SUBSCRIP- ^^ ^^^^ ^^ ™^y ^ after receipt 
 
 TION TO of authorization, books of sub- 
 
 STOCK 
 
 ELECTION OF scription to the capital stock 
 
 vcmNG^'^^' ™^y ^^ opened, and when the 
 
 capital stock shall have been 
 
 fully subscribed for, a meeting of the sub- 
 
scribers to the capital stock of such associa- 
 tion shall be called (each subscriber having had 
 at least three da^'s' notice) for determination 
 of the number and election of directors to serve 
 as managers for one year and until their suc- 
 cessors are elected. And no director shall be 
 elected unless he shall have received votes rep- 
 resenting at least a majority of the shares of 
 the association; and the voting may be done 
 by person or by proxy, and at such election 
 each subscriber or stockholder shall have the 
 right to vote for the number of shares owned 
 or subscribed by him for as many persons as 
 there are directors to be elected, or to cumulate 
 such shares and give one candidate as many 
 votes as the number of directors multiplied by 
 the number of his shares of stock shall equal 
 or to distribute them on the same principle 
 among as many candidates as he shall deem 
 proper. (Section 3.) 
 
 The directors so elected may 
 OF OFFICERS Proceed to organize by the elec- 
 tion of one of their number as 
 president and may appoint the necessary offi- 
 
cers and employees and fix their salaries to 
 carry on the business of the bank or associa- 
 tion and make by-laws (not inconsistent with 
 this Act) for the government of the bank or 
 association; and each director shall take and 
 BY-LAWS subscribe to an oath such as the 
 
 OATH OF Auditor shall prescribe, of 
 
 fealty to the bank or association 
 of which he is director, and that he will, so far 
 as the duty devolves on him, diligently and hon- 
 estly administer the aflfairs of such bank or 
 association, and will not knowingly violate or 
 willingly permit to be violated any of the pro- 
 visions of this Act; and that he is the owner 
 in good faith, and in his own right of the num- 
 ber of shares of stock required by this Act; 
 and that same is not hypothecated or in any 
 way pledged as security for any loan or debt. 
 Such oath subscribed by the director making it 
 and certified by a proper officer authorized to 
 administer oaths, shall be immediately trans- 
 mitted to the Auditor, and shall be filed and 
 preserved by him in his office. The directors 
 
 8 
 
shall cause to be kept suitable books of record 
 of all the transactions of the bank or associa- 
 tion, and shall furnish to the Auditor lists of 
 the stockholders and copies of any other records 
 the Auditor may require. And there shall be 
 an annual meeting of the stockholders for the 
 election of directors each year on the first 
 Monday in January, unless some other date 
 shall be fixed by the by-laws of the association. 
 Any omission to elect directors shall not impair 
 any of the rights and privileges of the associa- 
 tion or of any person in any way interested, 
 but the existing directors shall hold office until 
 their successors are elected and qualified, as in 
 such cases may be by by-laws provided. Vacan- 
 cies may be filled by a two-thirds vote of the 
 remaining directors. 
 
 Every director of any bank or 
 TiONS FOR association organized under the 
 ME^^iN^S^' provisions of this Act must own 
 
 in his own right, free of any 
 lien or incumbrance, at least ten shares of the 
 capital stock of such bank or association of 
 which he is a director. Any director who ceases 
 
 9 
 
to be the owner of ten shares of the capital 
 stock of such bank or association, or who be- 
 comes in any form disqualified, shall therefor 
 vacate his place as such director. The direc- 
 tors of any bank or association organized under 
 the provisions of this Act shall hold regular 
 meetings at least once each month and there 
 shall be present a quorum, as may be prescribed 
 by the by-laws of such bank or association, ap- 
 proved by the Auditor of Public Accounts. 
 
 Any officer, director or em- 
 STATEMENTS ployce of any bank or associa- 
 tion organized under the pro- 
 visions of this Act and who shall wilfully and 
 knowingly subscribe to or make, or cause to be 
 made, any false statement with intent to de- 
 ceive any person or persons authorized to ex- 
 amine into the affairs of such bank or associa- 
 tion, upon conviction thereof, shall be punished 
 by imprisonment of not less than one year or 
 more than ten years. (Section 4.) 
 
 When the directors have organ- 
 
 EXAMINATION . , . u- r r i.1,- 
 
 BY AUDITOR izcd, as m section tour or this 
 
 opetTinc? ^^^' ^^^ *^^ capital stock of 
 
 such association shall have been 
 
 aU fully paid in and record of the same laid be- 
 
 10 
 
fore the Auditor, he shall by himself, or some 
 competent person of his appointment, make a 
 thorough examination into the affairs of such 
 association and if satisfied the authorized cap- 
 ital has been paid in and that the association 
 has the full amount dedicated to the business, 
 including proposed surplus, if any, and when 
 they pay into the Auditor's office the reasonable 
 expenses of such examination, he shall give 
 ^gP^lPj^^^g them a written or printed cer- 
 OF AUTHOR- tificate, under seal, authorizing 
 '^^ '^ them to commence the business 
 
 designated in section one of this Act. And said 
 certificate and the permit issued in accordance 
 therewith, duly certified by said Auditor, shall 
 be filed and recorded in the office for the re- 
 cording of deeds in the county where such bank 
 is organized, and the original or a certified 
 copy thereof shall be evidence in all courts of 
 the existence and authority or said corporation 
 to do business. Upon the recording of said 
 certificate and permit said bank shall be deemed 
 fully organized and may proceed to business. 
 The Auditor may in his discretion, withhold 
 
 11 
 
the issuing of the said certificate authorizing 
 the commencement of business when he is not 
 satisfied as to the personal character and stand- 
 ing of the officers or directors elected or ap- 
 pointed in accordance with sections three and 
 four of this Act; or when he has reason to be- 
 lieve that the bank is organized for any pur- 
 pose other than that contemplated by this Act. 
 (Section 5.) 
 
 Every stockholder in anv bank 
 ERS' or banking association organized 
 
 list'o'f^' under the provisions of this Act 
 STOCKHOLD- shall be individually responsible 
 PILED and liable to its creditors over 
 
 and above the amount of stock 
 by him or her held to an amount equal to his 
 or her respective shares so held for all its lia- 
 bilities accruing while he or she remains such 
 stockholder. It is hereby made the duty of 
 the president and cashier, within thirty days 
 after organization, to file in the office of the 
 recorder of deeds of the county in which said 
 bank is located, a certified list of all the orig- 
 inal stockholders, giving the number of shares 
 
 12 
 
of stock held by each, and thereafter a certifi- 
 cate of all transfers of stock, not later than 
 ten days after such transfer. No transfer of 
 stock shall operate as a release of liability pro- 
 vided in this section. (Section 6.) 
 
 REPORTS ^^^ ^^^ ^^^ persons and asso- 
 
 AND ciations organizing under the 
 
 SUPERVISION p,„^i3i<,„, %i this Act shall 
 
 make to the Auditor a report according to the 
 form which may be prescribed by him, verified 
 by oath or affirmation of the president or cash- 
 ier of such association, which report shall 
 j^gpQPyg ^Q exhibit in detail and under ap- 
 AUDITOR propriate heads the resources 
 
 ^hrIe^^^'^^ and liabilities of such bank or 
 PENALTY association before the commence- 
 
 ment of business on the morn- 
 ing of any day he may choose; and he shall call 
 for such reports at least once every three 
 months of each year and the officers of said 
 banks shall transmit the same to the Auditor 
 within five days after receiving call for the 
 same; and any bank failing to make and trans- 
 mit such report, or to comply with any pro- 
 
 13 
 
visions of this Act, shall be subject to a penalty 
 of one-hundred dollars for each day after five 
 days that such report is delayed beyond that 
 time. And he shall cause such report to be 
 published at the expense of such bank in some 
 newspaper published in the city or town where 
 such bank is located; or if no newspaper is pub- 
 lished in such town, then in the nearest news- 
 paper to such town. Every such quarterly re- 
 port shall be accompanied with a fee of five 
 dollars to defray the expense of examining the 
 same and preparing it for publication. (Sec- 
 tion 7.) 
 
 YEARLY "^^^ Auditor as often as he shall 
 
 EXAM IN A- deem necessary or proper, and 
 
 at least once in each year, shall 
 appoint a suitable person or persons to make an 
 examination of the affairs of every bank estab- 
 lished under the provisions of this Act, which 
 person shall not be a stockholder or officer or 
 employee of any bank which he may be di- 
 rected to examine, and who shall have power to 
 make a thorough examination into all the af- 
 fairs of the bank, and in so doing to examine 
 
 14 
 
any of the officers or agents or employees 
 thereof on oath, and shall make a full and de- 
 tailed report of the condition of the bank to 
 the Auditor; and the bank shall not be subject 
 to any other visitorial power than such as may 
 be authorized by this Act, except such as are 
 vested in the several courts of law and chan- 
 
 COMPENSA- ^^^y- ^^ ^^^^y person ap- 
 TiON OF pointed to make such examina- 
 
 EXAMINERS f. i „ • r ■,. 
 
 tion shall receive for his ser- 
 vices at the rate of ten dollars for each day by 
 him employed in such examination, and two 
 dollars for each twenty-five miles he shall nec- 
 essarily travel in the performance of his duty, 
 which shall be paid to them by the bank 
 examined. (Section 8.) 
 
 Associations organized under this 
 ESTATE, Act shall be bodies corporate 
 
 LIMITATIONS ^"^ politic for the period for 
 
 which they may be organized, 
 may sue and be sued, may have a common seal 
 which they may alter or renew at pleasure, may 
 own, possess and may carry as assets the real 
 estate necessary in which to do a banking busi- 
 
 15 
 
ness, and siich other real estate to which they 
 
 may obtain title in the collection of debts, but 
 
 shall not carry in the assets any real estate 
 
 except the banking house for a period of more 
 
 than five years after acquiring title to same. 
 
 (Section 9.) 
 
 . *N » ^.* The total liabilities to any asso- 
 
 LOANS, • i.- r £ 
 
 LIMITATIONS sociation 01 any person or of 
 RESTRICTIONS ^^^ corporation or firm for 
 
 money borrowed including in the 
 liabilities of a company or firm the liabilities 
 of the several members thereof, shall at no 
 
 time exceed fifteen per cent, of 
 OF LOANS the amount of the capital stock 
 
 of such association actually paid 
 in and unimpaired and fifteen per cent, of its 
 unimpaired surplus fund. 
 
 Provided, however, that the total liabilities of 
 any such person, company or firm shall at no 
 time exceed thirty per cent, of the amount of 
 capital actually paid in: And, provided, fur- 
 ther, that undivided profits shall not be con- 
 strued as a part of the surplus ; but the discount 
 of bills of exchange drawn in good faith 
 
 16 
 
against actually existing values, and the dis- 
 count of commercial or business paper actually 
 owned by the person negotiating the same, shall 
 not be considered as money borrowed. 
 VIOLATIONS Every such loan made in viola- 
 REMEDIES, ' tion of the provisions hereof 
 LIABILITIES gjj^jj y^^ ^^^ ^^^ payable ac- 
 cording to its terms, and the remedy for the 
 recovery of any money loaned in violation of 
 the provisions hereof, or for the enforcement 
 of any agreement, collateral or otherwise, made 
 in connection with any such loan, shall not be 
 held to be impaired, affected or prohibited by 
 reason of such violation, but such remedy shall 
 exist notwithstanding the same. But every 
 director of any such association who shall vio- 
 late, or participate in, or assent to such viola- 
 tion, or who shall permit any of the officers, 
 agents or servants of the association to violate 
 the provisions hereof, shall be held liable in his 
 personal and individual capacity for all dam- 
 ages which the association, its stockholders or 
 any other person shall have sustained in con- 
 sequence of iuch violation. 
 
 17 
 
It shall not be lawful for any 
 OFFICERS bank to loan to its president 
 
 or to any of its vice-presidents 
 or its salaried officers or employees, or to cor- 
 porations or firms controlled by them, or in the 
 management of which any of them are actively 
 engaged, until an application for such loan 
 shall have been first approved, both as to secu- 
 rity and amount, by the board of directors. 
 (Section 10.) 
 
 Banks or banking associations 
 STOCK, may be organized under the 
 
 uqui"dation provisions of this Act in all 
 cities, towns, and villages with 
 a minimum capital stock according to the popu- 
 lation of such cities, towns, and villages, as 
 follows : 
 
 In all cities, towns and villages of not ex- 
 ceeding five thousand inhabit- 
 
 MINIMUM i-i-i. V a i.1, J 
 
 CAPITAL ants, 01 twenty-nve thousand 
 
 dollars. 
 In all cities, towns and villages of over five 
 thousand inhabitants and less than ten thousand 
 inhabitants, of fifty thousand dollars. 
 
 18 
 
In all cities, towns and villages of ten thou- 
 sand inhabitants and less than fifty thousand 
 inhabitants, of one hundred thousand dollars. 
 
 In all cities, and towns of fifty thousand in- 
 habitants or more, of two hundred thousand 
 dollars. 
 
 IMPAIRMENT Should the capital stock of any 
 OF bank organized under this Act 
 
 become impaired, the Auditor 
 shall give notice to the president to have the 
 impairment made good by assessment of the 
 stockholders or a reduction of the capital stock 
 ASSESSMENT °^ such bank, if the reduction 
 should not bring the capital be- 
 low the provisions of this section; and if the 
 capital stock of said bank shall remain im- 
 paired for thirty days after notice by the 
 Auditor, he shall have power, and it is hereby 
 made his duty, to enter suit against each stock- 
 holder in the name of the People of the State 
 of Illinois, for the use of said bank, for his or 
 her pro rata proportion of such impairment, 
 and when collected shall pay over the amount 
 thereof to said bank, and the judgment in such 
 
 19 
 
case shall be for the amount claimed with all 
 costs and reasonable attorney's fees^ which fees 
 shall be fixed by the court; or, if it appears 
 from the reports made to the Auditor under this 
 Act, or from any examination made by or on 
 behalf of the Auditor, that the conditions of 
 any bank organized under this Act are such 
 that the impairment cannot be made good, or 
 that the business of any such bank is being con- 
 ducted in an illegal, fraudulent or unsafe man- 
 ner, he may, in his discretion, without having 
 taken the steps provided in this section to make 
 good the impaired capital stock, through the 
 Attorney General, file a bill in the circuit court 
 of the county in which said bank is located, in 
 the name of the People of the State of Illinois 
 against said bank and its stockholders for the 
 
 dissolution of the corporation 
 DISSOLUTION, jr. . . .. J P 
 
 RECEIVER a^^d tor an mj unction, and lor 
 
 the appointment of a receiver 
 
 for the winding up of the affairs of the bank. 
 
 And said court, upon presentation of said bill, 
 
 and upon being made satisfied that the capital 
 
 stock of said bank has become impaired to such 
 
 20 
 
an extent that it cannot be made good, or that 
 such bank is being conducted in an illegal, 
 fraudulent or unsafe manner, shall immediately 
 appoint a competent and disinterested person 
 as such receiver, and shall determine and fix 
 his bonds and shall prescribe his duties. And 
 said cause shall proceed as other cases in equity. 
 And no bill shall be filed nor proceedings com- 
 menced in any court for the dissolution or for 
 the winding up of the affairs or for the ap- 
 pointment of a receiver for any such banking 
 corporation on the grounds of insolvency or im- 
 pairment of the capital stock of such banking 
 corporation or upon the ground that such bank 
 is being conducted in an illegal, fraudulent or 
 unsafe manner, except in the name and by the 
 authority of the Auditor of Public Accounts, 
 represented by the Attorney General. ^\Tien 
 it shall be ascertained, in the course of the ad- 
 ministration of the estate of a bank in the hands 
 of a receiver that the assets of the bank are in- 
 sufficient to discharge the entire liability of 
 such bank to its creditors, and when the amount 
 of such deficiency is determined, the court may, 
 
 21 
 
in its discretion, direct the re- 
 ment'^of' ceiver to proceed to enforce the 
 
 STOCK- ^ liability of the stockholders to 
 
 LIABILITY creditors, provided in section 
 
 six of this Act; and when so 
 directed, such receiver shall have the power, and 
 it shall be his duty, to take such action, by suit 
 or otherwise, as the court may direct, to enforce 
 such liability for the benefit of the creditors and 
 to disburse to creditors the amounts collected 
 thereon, in the same manner as disbursements 
 are made to creditors of the assets of the bank. 
 
 Such receiver shall file with the Auditor a copy 
 of each report which he makes to the court 
 appointing him in order that the said Auditor 
 may have at his command a complete record of 
 all State institutions whose business has been 
 so liquidated. 
 
 At any time, whenever a majority in num- 
 ber and amount of the creditors of any such 
 bank or association, after any such receiver 
 shall have been appointed, shall petition the 
 court for the appointment of any person nomi- 
 nated by them as receiver, who is a reputable 
 
 22 
 
person and elector of the county in which said 
 bank or association is located, it shall be the 
 duty of the court to make such appointment, 
 and all the rights and duties of its predecessors 
 shall at once devolve upon such appointee. 
 (Section 11.) 
 
 Whenever the board of direct- 
 T?otf^'"'°^ ors, managers or trustees, of 
 CHANGE OF any corporation having any 
 
 NAME, u 1 • • i.- u 
 
 PLACE OF bankmg powers, existing by 
 
 CHAN^cfEs' IN virtue of any general or special 
 MANAGE- law of this State, or any cor- 
 
 How MADE poration with banking powers 
 hereafter organized under the 
 provisions of this Act may desire to change the 
 name, to change the place of business, to in- 
 crease or decrease the capital stock, to increase 
 or decrease the number of directors, managers 
 or trustees, or to consolidate such corporation 
 with any other corporation having banking 
 powers which may hereafter exist, they may 
 call a special meeting of the stockholders of 
 such corporation for the purpose of submitting 
 to a vote of such stockholders the question of 
 
 28 
 
such change of name, change of place of busi- 
 ness, increase or decrease of number of direc- 
 tors, managers or trustees, increase or decrease 
 of capital stock, or consolidation with some 
 other corporation, as the case may be: Provided, 
 that in changing the name of any corporation 
 under the provisions hereof, no name shall be 
 assumed or adopted by any corporation organ- 
 ized under the laws of this State, without the 
 consent of such other corporation, and that in 
 no case shall the capital stock be diminished to 
 the prejudice of the creditors of such corpora- 
 tion, or the number of directors, managers or 
 trustees be reduced to less than five, or in- 
 creased to more than eleven. 
 
 Such special meeting shall be 
 MEETINGS called by delivering personally, 
 
 or by depositing in the postoffice 
 at least thirty days before the time fixed for 
 such meeting, a notice properly addressed to 
 each stockholder, signed by a majority of said 
 directors, managers or trustees, stating the 
 time, place and object of such meeting. A 
 general notice of the time, place and object of 
 
 24 
 
such meeting shall also be published for three 
 successive weeks in some newspaper printed in 
 or nearest to the county in which the principal 
 business office of said corporation is located. 
 
 At any such meeting stockhold- 
 
 VOTING i. • u 
 
 ON SAME ers may vote m person or by 
 
 proxy, each stockholder being 
 entitled to one vote for each share of stock 
 held by him, and votes representing two-thirds 
 of all the stock of the corporation shall be 
 necessary for the adoption of the proposed 
 change of name, place of business, number of 
 directors, managers or trustees, amount of cap- 
 ital stock, or consolidation with some other 
 company. 
 
 At any reffular meeting, or at 
 
 CERTIFICATE .v .• j i -n j • 
 
 OF STOCK- the time and place specmed in 
 CONS^ent' ^^^^ notice of a special meeting 
 
 called for that purpose, said 
 propositions, or any of them, may be submitted 
 to a vote, and if it shall appear that two-thirds 
 of all the votes represented by the whole stock 
 of such corporation are in favor of the proposi- 
 tions, or any of them so submitted, a certificate 
 
 25 
 
thereof, verified by the affidavit of the presi- 
 dent, and under seal of the corporation, shall 
 be filed in the office of the Auditor, and a like 
 certificate filed for record in the office of the 
 recorder of deeds of the county where the prin- 
 cipal business office of such corporation is lo- 
 cated; and upon the filing of such certificates 
 the changes proposed and voted for at such 
 meeting, as to name, place of business, increase 
 or decrease of capital stock, or number of di- 
 rectors, managers, or trustees, or consolidation 
 with some other company, shall be and is here- 
 by declared accomplished, in accordance with 
 the said vote of the stockhold- 
 BANKS ers: And, provided, further, 
 
 th?S^act"''° that any corporation with bank- 
 ing powers availing itself of or 
 accepting the benefits of, or formed under this 
 Act, and all corporations with banking powers 
 existing by virtue of any special charter or gen- 
 eral law of this State, shall be subject to the 
 provisions and requirements of this Act in every 
 particular, as if organized under this Act. 
 Such corporation shall, upon the filing of 
 
 26 
 
said certificate, cause to be published in some 
 newspaper in or nearest to the county in which 
 their principal office is located, a notice of such 
 changes of organization for three successive 
 weeks. 
 
 Such chanee of name, place of 
 
 RIGHTS OF V . .^ J ^ r 
 
 CREDITORS business, increase or decrease or 
 IMPAIRED capital stock, increase or de- 
 
 crease of number of directors, 
 managers or trustees, or consolidation of one 
 corporation with another, shall not affect suits 
 pending in which such corporations or corpora- 
 tion shall be parties; nor shall such changes af- 
 fect causes of action, nor the rights of persons 
 in any particular, nor shall suits brought 
 against such corporation by its former name be 
 abated for that cause. (Section 12.) 
 
 All corporations with banking 
 T?or?^'''°^ powers consolidating as pro- 
 PROCEEDINGS vided in section twelve shall for- 
 FORWARDED Ward to the Auditor the com- 
 plete proceedings of their con- 
 solidation, a list of the stockholders and such 
 other records as the Auditor may require, when 
 
 27 
 
the Auditor shall proceed as provided in sec- 
 tion five of this Act in regard to the organiza- 
 tion of new banks, and until he shall so 
 proceed, and such consolidated corporation 
 shall comply with all the provisions of such 
 section, it can not begin business. (Section 13.) 
 
 In all cases where any corpora- 
 tkJ'n'^o'f^ tion having any banking pow- 
 
 CHANGES ers, existing under and by 
 
 PRIOR ACT virtue of any general or special 
 
 laws of this State, has, prior to 
 the passage of this Act, changed its name or its 
 place of business, or increased or decreased its 
 capital stock, or the number of its directors, 
 managers, or trustees, in the manner provided 
 by an Act of the General Assembly of this 
 State, entitled, "An Act to provide for chang- 
 ing the names, for changing the place of busi- 
 ness, for increasing or decreasing the capital 
 stock, for increasing or decreasing the number 
 of directors, and for the consolidation of in- 
 corporated companies," approved and in force 
 March 26, 1872, such change or changes are 
 hereby ratified and confirmed and made valid 
 
and legal in all respects as if made in pur- 
 suance of the provisions of this Act. (Sec- 
 tion 14.) 
 
 DEPOSITS ^^y association organized un- 
 
 WITH der this Act, or any corporation 
 
 AUDITOR M-t 1 1 • J 
 
 FOR With banking powers organized 
 
 PUFip'oSE^"^^ in pursuance of any general or 
 special law of this State, or any 
 consolidated corporation with banking powers 
 as provided for by this Act, on depositing with 
 the Auditor an amount of money equal to the 
 whole amount of debts and demands against it, 
 including the expenses of this proceeding, may 
 determine its affairs, distribute its assets among 
 its stockholders, resign its charter or certificate 
 of incorporation, and close up its business, by a 
 resolution passed at a meeting of its stockhold- 
 ers called for such purpose. The Auditor 
 PUBLICATION ^^^^^ cause a copy of such reso- 
 OF lution to be published in some 
 
 TO newspaper published in the city 
 
 CLAiivfs^^^' ^^ village where such bank or 
 corporation is located; or if no 
 newspaper shall there be published, then in the 
 
 29 
 
newspaper nearest to such city or village, and 
 the Auditor shall in such publication also give 
 notice that the notes and demands against such 
 bank or corporation will be redeemed by him, 
 and if any outstanding notes or other demands 
 are not presented in one year, such bank may 
 deposit with the Auditor or elsewhere, under 
 his direction, and subject to his order, on in- 
 terest, a sum sufficient to meet such outstanding 
 demands, which when presented to the Auditor, 
 shall be paid by him out of such sum, and after 
 six years from the day on which the publica- 
 tion of the dissolution was first made, the 
 Auditor shall return to the stockholders, to be 
 among them distributed^ the remainder of any 
 sum so deposited. 
 
 COMPENSA- '^^^ Auditor shall be entitled to 
 TION OF two per cent, of all money paid 
 
 out by him under the provisions 
 of this section, where the amount so paid, on 
 account of any one bank or corporation, shall 
 not exceed five thousand dollars, and one per 
 cent, after that. (Section 15.) 
 
 30 
 
TRUST COMPANIES 
 
 Any corporation which has or 
 POWERS shall be incorporated under the 
 
 general incorporation laws of 
 this State, being an Act entitled "An Act con- 
 cerning corporations/' and all amendments 
 thereof, for the purpose of accepting and ex- 
 ecuting trusts, and any corporation now or here- 
 after authorized by law to accept or execute 
 trusts, may be appointed assignee or trustee by 
 deed, and executor, guardian or trustee by will, 
 and such appointment shall be of like force as 
 in case of appointment of a natural person. 
 (Section 1, Trust Company Act.) 
 
 Whenever application shall be 
 
 COURT MAY J . V, i. • 1.V ci. 1. 
 
 APPOINT made to any Court in this htate 
 
 COMPANY ^^^ *^^ appointment of any re- 
 
 RECEIVER, ceiver, assignee, guardian, con- 
 
 GUARDIAN, / i. J • 1. i. 
 
 ETC. servator, executor, administrator 
 
 or other trustee, it shall be law- 
 ful for such court to appoint any such corpora- 
 
 31 
 
tion as such trustee, receiver, assignee, guardian, 
 conservator, executor or administrator: Pro- 
 vided, any such appointment as guardian or con- 
 servator shall apply to the estate only, and not 
 to the person. 
 
 DEPOSITORY ^"y ^^"y* having appointed and 
 FOR COURT having iurisdiction of any re- 
 FUNDS ° 1 . . 
 
 ceiver, executor, admmistrator, 
 
 conservator, guardian, assignee or other trustee, 
 upon the application of such officer or trustee, 
 or upon the application of any person having 
 an interest in the estate administered by such 
 officer or trustee, after such notice to the other 
 parties in interest as the court may direct, and 
 after a hearing upon such application, may 
 order such officer or trustee to deposit any 
 moneys then in his hands, or which may come 
 into his hands thereafter, and until the further 
 order of said court, with any such corporation 
 and upon deposit of such money, and its re- 
 ceipt and acceptance by such corporation, the 
 said officer or trustee shall be discharged from 
 
 32 
 
further care or responsibility therefor. Such 
 deposit shall be paid out only upon the orders 
 of said court. 
 
 Whenever in the judgment of 
 BONDS OF any court having jurisdiction of 
 
 ASSIGNEE,' any estate in process of admin- 
 
 ETC, HOW .... V 
 
 REDUCED istration by any assignee, re- 
 
 ceiver, executor, administrator, 
 guardian, conservator or other trustee, the bond 
 required by law of such officer shall seem bur- 
 densome or excessive, upon application of such 
 officer or trustee, and after such notice to the 
 parties in interest as the court shall direct, and 
 after a hearing on such application, the said 
 court may order the said officer or trustee to de- 
 posit with any such corporation, for safe keep- 
 ing, such portion of all of the personal assets of 
 said estate as it shall deem proper, and there- 
 upon, said court shall, by an order of record, 
 reduce the bond to be given, or therefor given 
 by such officer or trustee, so as to cover only the 
 estate remaining in the hands of said officer or 
 
 33 
 
trustee, and the property as deposited shall 
 thereupon be held by such corporation under the 
 orders and directions of said court. (Section 2, 
 Trust Company Act.) 
 
 Such corporation shall not be 
 GIVE BOND required to give any bond or 
 
 security in case of any appoint- 
 ment hereinbefore provided for, except as in 
 hereinafter provided, but shall be responsible 
 for all investments which shall be made by it 
 of the funds which may be entrusted to it 
 for investment by such court, and shall be fur- 
 ther liable as natural persons in like positions 
 now are, and as hereinafter provided. The 
 
 amount of money which any 
 LIMITATIONS , ».- \ ^^ x. 
 
 AS TO LOANS such corporation shall have on 
 
 deposit at any time shall not 
 exceed ten times the amount of its paid up cap- 
 ital and surplus, and its outstanding loans shall 
 not at any time exceed said amount. (Section 
 S, Trust Company Act.) 
 INTEREST Such company shall pay interest 
 
 upon all moneys held by it by 
 virtue of this Act, at such rate as may be agreed 
 
 34 
 
upon at the time of its acceptance of any such 
 appointment, or as shall be provided by order 
 of the court. (Section 4, Trust Company Act.) 
 
 Such corporations shall be en- 
 SAT I ON^' titled to and shall be allowed 
 
 proper compensation for all the 
 services performed by them under the provisions 
 of this Act, but such compensation shall not 
 exceed that allowed to natural persons for like 
 services. (Section 5, Trust Company Act.) 
 
 Each company in all cities and 
 5m?2^'"''^ towns of 100,000 inhabitants or 
 
 AUDITOR FOR more, before accepting any such 
 CREDITORS appointment or deposit shall 
 
 deposit with the Auditor of 
 Public Accounts the sum of $200,000, and each 
 company in all cities and towns of less than 
 100,000 inhabitants shall deposit with the 
 Auditor of Public Accounts the sum of $50,000, 
 said deposit to be for the benefit of the credit- 
 ors of said company, and to consist of bonds 
 of the United States or municipal bonds of this 
 State, or in mortgages on improved and pro- 
 
 35 
 
ductive real estate in this State, being first liens 
 thereon, and the real estate being worth at least 
 twice the amount loaned thereon. Bonds and 
 EXCHANGE securities so deposited may be 
 OF exchanged, from time to time, 
 
 SECURITIES o ^ y 
 
 for other securities receivable as 
 aforesaid. Said bonds of the United States or 
 municipal bonds of this State to be registered 
 in the name of said Auditor officially, and all 
 said securities to be subject to sale and transfer 
 and to the disposal of the proceeds by said 
 Auditor only on the order of a court of com- 
 petent jurisdiction and as hereinafter provided 
 in section 18. So long as the company so de- 
 positing shall continue solvent, such company 
 shall be permitted to receive from said Auditor 
 the interest or dividends on said deposit: Pro- 
 vided, however, that when it shall appear to the 
 Auditor of Public Accounts from the annual re- 
 port of any such company that the value of the 
 personal property and the cash held and pos- 
 sessed by such company by virtue of the pro- 
 visions of this Act, and any amendment thereof, 
 
 36 
 
exceeds ten times the amount of 
 SECURITIES the deposit aforesaid, he shall 
 WH^E^N'sAfo require said companies, if in 
 DEPOSIT cities or towns of 100,000 in- 
 
 INCREASED habitants or more to forthwith 
 DHVilNISHED increase said deposit to the sum 
 
 of $500,000 in such securities, 
 and in all cities and towns of less than 100,000 
 inhabitants to forthwith increase the said de- 
 posit to the sum of $125,000 in such securities. 
 And whenever it shall appear to the Auditor 
 of Public Accounts that the amount of personal 
 property and cash so held by any such company 
 has been reduced below ten times the value of its 
 original deposit above provided for, and said 
 company is not in any default in its duties and 
 obligations hereunder, he shall allow said com- 
 pany to reduce its said deposits to the sum orig- 
 inally required in this section by the withdrawal 
 of such additional deposits until such time as an 
 increase in its holdings shall again require an 
 additional deposit as hereinbefore provided. 
 No corporation authorized to accept and exe- 
 cute trusts shall either directly or indirectly, 
 
 37 
 
through any officer, agent or employee of such 
 
 corporation, certify to any bond, note or other 
 
 obligation to evidence debt, secured by any 
 
 trust deed or mortgaffe upon or 
 COMPLIANCE . t. t ' 
 
 WITH ACT accept any trust concerning 
 
 property located wholly or in 
 
 part in this State without complying with said 
 
 Act and the amendments thereto; and any trust 
 
 deed or mortgage given or taken in violation of 
 
 the provisions of said Act and the amendments 
 
 thereto shall be null and void. (Section 6, 
 
 Trust Company Act.) 
 
 DEPOSITS IN When any part of such deposit 
 
 MORTGAGES is made in bonds and morteaffes 
 
 TO BE o o 
 
 ACCOMPANIED i* shall be accompanied by full 
 ^^f!-®^^*^^*^' abstracts of titles and searches, 
 and shall be examined and ap- 
 proved by or under the direction of the Auditor. 
 The fees for an examination of title by counsel, 
 to be paid by the company making the deposit, 
 shall not exceed $20 for each mortgage, and the 
 fee for each appraiser not exceeding two, be- 
 sides expenses, shall be $5 for each mortgage. 
 (Section 7, Trust Company Act.) 
 
 38 
 
AUTHORI2A- ^^ ^^^^^ '^ot be lawful for any 
 TlON BY such company to accept any 
 
 trust or deposit as hereinbefore 
 provided, after the passage of this Act, with- 
 out first procuring from the Auditor of Public 
 Accounts a certificate of authority stating that 
 such company has complied with the require- 
 ments of this Act in respect to such deposit. 
 (Section 8, Trust Company Act.) 
 
 Such companies shall file with 
 AND the said Auditor, during the 
 
 f ioNs"^^ month of January of each year, 
 
 a statement, under oath, of the 
 condition of such company on the thirty-first 
 day of December next preceding, exhibiting the 
 following items in the following form: 
 ^,_._. , (a) The assets of said com- 
 
 YEARLY 
 
 REPORT, pany, specifying: 
 
 of^aIsets"^ First— The description and 
 market value, or as nearly as 
 may be, of the real estate owned by such 
 company. 
 
 Second — The amount of cash on hand and 
 
 39 
 
deposits in banks to the credit of said company, 
 specifying in what banks such deposits are. 
 
 Third — The amount of cash in the hands of 
 agents and in the course of transmission. 
 
 Fourth — The amount of loans secured by 
 mortgages and bonds^ constituting a first lien 
 on real estate, on which there shall be less than 
 one year*s interest due or owing, and the 
 amount of such interest. 
 
 Fifth — The amount of such loans on which 
 there shall be more than one year's interest due 
 or owing, and the amount of such interest. 
 
 Sixth — The amount due the company on 
 which judgments have been obtained. 
 
 Seventh — The amount of stocks and bonds of 
 this State, and of the United States, of any in- 
 corporated city of this State, and of any other 
 stocks and bonds owned by such company, 
 specifying the amount, number of shares, and 
 the par and market value of each kind of stock 
 or bonds. 
 
 Eighth — The amount loaned upon the pledges 
 of securities, with a statement of the securities 
 
 40 
 
so held by such company, and the par and mar- 
 ket value of such securities. 
 
 Ninth — The amount of all other assets of 
 such company, including accrued interest not 
 enumerated above. 
 
 (b) The liabilities of such 
 STATEMENT company, specifying: 
 LIABILITIES, First— The capital stock paid in. 
 
 STATEMENT c J rr.u i u J 
 
 OF TRUSTS Second — Ihe surplus on hand. 
 Third — The undivided profits. 
 
 Fourth — The deposits held by such company. 
 
 (c) A list and brief description of the 
 trusts held by such company, the source of the 
 appointment thereto, and the amount of real 
 and personal estate held by such company by 
 virtue thereof, except that mere mortgage 
 trusts wherein no action has been taken by such 
 company, shall not be included in such state- 
 ment. The said report shall also be in such 
 form and contain such statements, returns and 
 information, as to the affairs, business condi- 
 tion, and resources of the corporation, as the 
 said Auditor of State may, from time to time. 
 
 41 
 
prescribe or require. (Section 9, Trust Com- 
 pany Act.) 
 
 Such report shall be verified by 
 
 VERIFICATION ., «./ ,. r, ^ . , ^ 
 
 OF REPORT, the athdavit ot one or the man- 
 l^'^'J^^I^ aging officers, and two of the 
 
 directors or trustees of said 
 company, who shall also state in such affidavit 
 that they have examined the assets and books 
 of said company for the purpose of making 
 said report. Any false swearing in regard to 
 such report shall be deemed perjury, and shall 
 be subject to the punishments prescribed by 
 law for such offiense. (Section 10, Trust Com- 
 pany Act.) 
 
 The Auditor of Public Accounts 
 tk)NS^from' ^^ hereby authorized and em- 
 AUDITOR, powered to address any in- 
 
 ADDITIONAL • • . i. 
 
 reports quiries to any such company, or 
 
 the officers thereof, in relation 
 to its doings and condition, or any other matter 
 connected with its affairs, and it shall be the 
 duty of any company or person so addressed, 
 to promptly reply in writing to such inquiries. 
 The Auditor may also require reports from any 
 
 4S 
 
such corporation at any time he may deem de- 
 sirable. (Section 11, Trust Company Act.) 
 YEARLY -^^ shall be the duty of said 
 
 EXAMINA- Auditor, annually, either per- 
 
 sonally or by one or more com- 
 petent persons to be appointed by him, to visit 
 and examine every such corporation in this 
 State. The Auditor shall also have power, in 
 like manner, to examine any such corporation 
 whenever, in his judgment, it may be deemed 
 necessary or expedient. The said Auditor and 
 every such examiner shall have power to ad- 
 minister an oath to any person whose testimony 
 may be required on any such examination, and 
 to compel the appearance and attendance of 
 any such person for the purpose of examina- 
 tion, by summons, subpoena or attachment, in 
 the manner now authorized in respect to the at- 
 tendance of persons as witnesses in the courts 
 of record in this State; and all books and 
 papers which may be deemed necessary to ex- 
 amine by the Auditor or examiner so appointed 
 shall be produced, and their production may be 
 compelled in like manner. The expense of 
 
 43 
 
every examination, if any, shall 
 EXAMINATION ^e paid by the corporation ex- 
 amined, in such amount as the 
 Auditor shall certify to be just and reasonable: 
 but whenever such special examination shall be 
 made by the Auditor in person, or by one or 
 more of the regular clerks in his department, 
 no charge shall be made except for necessary 
 traveling and other actual expenses. On every 
 examination, inquiry shall be made as to the 
 condition and resources of the corporation gen- 
 erally, the mode of conducting and managing 
 its affairs, the action of its directors or trustees, 
 the investment of its funds, the safety and pru- 
 dence of its management, the security afforded 
 to those by whom its engagements are held, 
 and whether the requirements of its charter and 
 of the laws have been complied with in the 
 administration of its affairs. The result of 
 CERTIFICA- ^^^^ examination shall be certi- 
 TION OF fied by the examiners or one of 
 
 EXAMINATION ^j^^^^ ^^^^ ^^^ ^^^^^^^ ^^ ^j^^ 
 
 corporation examined, and the result of all the 
 examinations during the preceding two years, 
 
 44 
 
shall be embodied in the report of the Auditor 
 required by this Act to be submitted to the 
 Legislature. Such report shall give date to 
 which such report refers, the amount of capital 
 returned by each of said corporations, the 
 whole amount of its debts and liabilities, the 
 total sum of its resources, and such other in- 
 formation as such Auditor may deem useful. 
 (Section 12, Trust Company Act.) 
 PUBLICATION "^^^ ^^^^ Auditor shall cause a 
 OF proper abstract of the state- 
 
 ments of assets and liabilities 
 reported under section nine of this Act, to be 
 published once in each week for three con- 
 secutive weeks, in two newspapers of general 
 circulation, the one printed in the city of 
 Springfield, and the other in the county seat of 
 the county wherein the principal office of the 
 respective company is located, such publication 
 to be paid for by said company. (Section l6, 
 Trust Company Act.) 
 
 Whenever it shall appear to the 
 
 UNLAWFUL .1 A -,.. PI, 
 
 BANKING said Auditor from any such ex- 
 
 amination or report, that any 
 
 45 
 
such corporation has committed any violation of 
 law, or is conducting its business in an unsafe 
 or unauthorized manner, he shall, by an order 
 under his hand and seal, direct 
 OF^'u'vw^'^^ the discontinuance of such il- 
 INSTITUTION legal and unsafe or unauthor- 
 PROCEEDINGS l^ed practices, and strict con- 
 formity with the requirements 
 of the law, and with safety and security in its 
 transactions; and whenever any such corpora- 
 tion shall refuse or neglect to make any such 
 report as is hereinbefore required, or to comply 
 with any such order as aforesaid, or whenever 
 it shall appear to the Auditor that it is unsafe 
 or inexpedient for any such corporation to con- 
 tinue to transact business, or that extraordinary 
 withdrawals of money are jeopardizing the in- 
 terest of remaining depositors, or that any 
 trustee or officer has abused his trust or been 
 guilty of misconduct or malversation in his offi- 
 cial position, injurious to the institution, or that 
 it has suffered a serious loss by fire, burglary, 
 repudiation or otherwise, he shall communicate 
 the facts to the Attorney General, who shall 
 
 46 
 
thereupon institute such proceedings against 
 the corporation as the nature of the ease may 
 require. (Section 13^ Trust Company Act.) 
 REVOCATION ^^ *^^ Auditor shall at any time 
 OF have satisfactory evidence that 
 
 CERTIFICATE ^^^ annual statement or other 
 report required or authorized by this Act, made 
 or to be made by any officer or officers of such 
 corporation, is false, it shall be the duty of the 
 said Auditor to immediately revoke the cer- 
 tificate of authority granted on behalf of such 
 corporation, and mail a copy of such revocation 
 to said corporation and the clerk of every 
 court of record in this State. Such revocation 
 shall not be set aside until satisfactory evidence 
 shall be given to said Auditor that such corpo- 
 ration is, in substance and in fact, in the con- 
 dition set forth in such statement or report, and 
 that all the requirements of this Act have been 
 complied with. Such revocation shall be suffi- 
 cient cause for the removal of such company 
 from any appointment held by it under the pro- 
 visions of this Act. (Section 14, Trust Com- 
 pany Act.) 
 
 47 
 
PENALTY ^^y violation of any of the pro- 
 
 visions of this Act shall subject 
 the party violating the same to a penalty of 
 $500 for each offense^ and the additional sum 
 of $100 per day during which any such com- 
 pany shall fail to file its said report after the 
 last day of January in each year. (Section 15^ 
 Trust Company Act.) 
 
 Pggg There shall be paid by every 
 
 company to whom this Act shall 
 apply, the following fees: For filing the orig- 
 inal application and receiving the deposit re- 
 quired by section six of this Act, the sum of 
 $30; for filing the annual statement required, 
 $10; for the certificate of authority, $2; for 
 every copy of a paper filed in the Auditor's 
 office, the sum of 20 cents per folio; for affixing 
 the seal of said office to said copy, certifying 
 the same, $1. (Section 17, Trust Company 
 Act.) 
 
 RETIRING ^^y company which desires to 
 
 FROM retire from business under this 
 
 BUSINESS ^^^^ gjj^jj furnish to the Auditor 
 
 satisfactory evidence of its release and dis- 
 48 
 
charge from all the obligations and trusts here- 
 inbefore provided for^ whereupon he shall 
 revoke his certificate to such company, and re- 
 turn its securities. (Section 18, Trust Com- 
 pany Act.) 
 
 49 
 
INDEX 
 
 STATE BANKS. 
 
 PAGE 
 
 Application to organize 6 
 
 Auditor, compensation of 30 
 
 Business, change of place 23, 28 
 
 By-Laws 8 
 
 Capital, increase or decrease of 23, 28 
 
 Capital stock, amount of 18 
 
 Capital stock, impairment of 19 
 
 Certificate of authorization 11 
 
 Claims, presentation of and payment of ... 30 
 
 Directors, election of 6, 7, 9 
 
 Directors, liable for illegal loans 17 
 
 Directors, qualifications of 9 
 
 Dissolution 20 
 
 Elections, 6, 7, 9 
 
 Examinations 14 
 
 51 
 
PAGE 
 
 Examiners^ compensation of 15 
 
 Examination prior to opening 11 
 
 Liability of stockholders 12 
 
 Liabilities, total of 16 
 
 Liquidation 29 
 
 Liquidation, deposits for purpose of 29 
 
 Loans, limitations and restrictions ... 1 6, 17, 18 
 
 Management 5 
 
 Meetings of directors 10 
 
 Name, change of 23, 28 
 
 Oath of office 8 
 
 Organization 5 
 
 Powers 5 
 
 Real estate 15 
 
 Receiver 20 
 
 Report of liquidated banks 22 
 
 Reports 13 
 
 Reports, penalty for neglect 14 
 
 Reports, publication of 14 
 
 52 
 
PAGE 
 
 Shares 5 
 
 Statements, false 10 
 
 Stockholders' liability^ enforcement of .... 22 
 
 Stockholders' liability 12 
 
 Stockholders, list of, to be recorded 12 
 
 Subscription to stock . 6 
 
 Vacancies 9 
 
 Voting 7 
 
 TRUST COMPANIES. 
 
 Auditor, communications from 42 
 
 Authorization by auditor 39 
 
 Bonds, certification of 38 
 
 Bonds, reduction of 33 
 
 Bonds, not required 34 
 
 Certificate, revocation of 47 
 
 Certification of bonds, etc 38 
 
 Compensation of company 35 
 
 Court funds 32 
 
 53 
 
PAGE 
 
 Deposits, limitation of 34 
 
 Deposits with auditor 35 
 
 Examinations 43 
 
 Fees to auditor 48 
 
 Fees for titles and appraisals 38 
 
 Fees for examinations 44 
 
 Interest 34 
 
 La-y, violations of 46 
 
 Liquidation 48 
 
 Loans, limit of 34 
 
 Mortgage loans 38 
 
 Penalties 48 
 
 Powers and privileges 31 
 
 Reports 39, 42 
 
 Securities, exchange of 36 
 
 Securities, increase or decrease of 37 
 
 Securities, interest on 37 
 
 Statements, publication of 45 
 
 Unlawful banking 45 
 
 54 
 
OFFICERS 
 
 Edward Tilden 
 
 President 
 
 John Fletcher 
 
 Vice-President 
 
 Geo. M. Benedict 
 
 Casliier 
 
 J. C. Morrison 
 
 Assistant Cashier 
 
 H. P. Gates 
 
 Assistant Cashier 
 
^x 
 
 DIREC TORS 
 
 Edward Tilden 
 
 Wm. A. Tilden 
 
 L. B. Patterson 
 
 John Fletcher 
 
 AveriU Tilden 
 
* ^x /<co/o 
 
 247114 
 
;:U7^i 
 
 ^^':ii.43 
 
 ^^^:.'v 
 
 m 
 
 '^ .-h- 
 
 ^::v^ 
 
 
 n'*^L 
 
 iV. 
 
 ^r.' 
 
 1^:/^^ 
 
 / *VJ>^v 
 
 ^ 
 
 ,i5: 
 
 ■^ • .; 
 
 *)'• '"^ • ;*> 
 
 ■?1^<^V 
 
 v•^^f^;■''::^?^''; 
 
 ^,1^. i. 
 
 
 ,i ^'^