Statutes at Large, Treaties and Proclamations of the United States of America Volume 12; From December 5, 1859, to March 8, 1863, Volume 12 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1863 Excerpt: ...be made; and no dividend shall ever be made by any association, while it shall continue its banking operations, to an amount greater than its nett profits then on hand, deducting therefrom its losses and bad debts; and all debts due to any association, on which interest is past due and unpaid for a period of six months, unless the same shall be well secured, and shall be in process of collection, shall be considered bad debts within the meaning of this act. Dividends in Sec. 45. And be it further enacted, That the directors of every assoMay and Novem-ciation 6hall semi-annually in the months of May and November, declare "'r' a dividend of so much of the profits of such association as they shall On each divi-judge expedient; and on each dividend day, the cashier shall make, and dend day cashier verify by his oath, a full, clear, and accurate statement of the condition meftocomp OI" tne association, as it shall be on that day after declaring the divitroller as to dend; which statement shall contain--Capital. First. The amount of the capital stock actually paid in and then re maining, as the capital stock of such association. Circulation. Secondly. The amount of the circulating notes of such association then in circulation. Thirdly. The greatest amount in circulation at any time since the making of the last previous statement, as shall have been exhibited by the weekly statements of the cashier, specifying the times when the same occurred. Dne other Fourthly. The amount of balances and debts of every kind due to banks. other banks and banking associations. Depositors. Fifthly. The amount due to depositors. Liabilities. Sixthly. The total amount of debts and liabilities of every description, and the greatest amount since the making of the last previou...