some person authorized to administer oaths within this state, and a certificate of said engagement shall be filed by said commissioners in the office of the secretary of state. A majority of said commissioners shall be competent to act in all cases.

SEC. 42. The governor may, at any time, for sufficient cause, remove any such commissioner, and appoint some other suitable person in his place, who shall hold such office, unless sooner removed, for the unexpired term of the commissioner so removed.

SEC. 43. Said commissioners shall each be allowed and paid for their services in said office, four dollars for each day employed in visiting the corporations herein before mentioned, and also their necessary travelling expenses, to be paid in all cases by the corporation visited. The compensation of said commissioners for superintending the organization of any new bank shall be paid by such bank.

SEC. 44. Said commissioners, or any two of them, shall, at least once in every year, and as much oftener as they shall deem expedient, visit every bank and institution for savings which has been or shall be incorporated in this state, and shall have free access to their vaults and all their books and papers, and shall, if they deem it expedient, thoroughly inspect and examine all the affairs of said corporations, and make any and all inquiries as may in their opinion be necessary to ascertain the condition of said corporations and their ability to fulfil all their engagements, and whether they have complied with the provisions of law applicable to their transactions.

SEC. 45. Said commissioners, or either of them, may summon and examine under oath all directors, officers and other agents of said corporations, and such other witnesses as they may think proper in relation to the affairs, transactions and condition of said corporations, and any such director, officer, agent or other person who shall refuse, without justifiable cause, to appear and testify when thereunto required as aforesaid, or who shall in any way obstruct any commissioner in the discharge of his duties as prescribed in this chapter, shall, on conviction thereof, be fined not exceeding ten thousand dollars, or be imprisoned for a term not exceeding five years; and in case the person so refusing or obstructing as aforesaid be a director, officer or agent of said corporations, said corporations may also be proceeded against as is hereinafter provided.

SEC. 46. In addition to the examination hereinbefore provided, if any three or more persons who shall be officers, stockholders or creditors of any bank or institution for savings, shall make a statement in writing, under oath, setting forth their interest and the reasons for making such examination, and shall direct the same to said commissioners, requesting them to examine such bank or institution for savings, it shall be the duty of said commissioners forthwith to make a full investigation of the affairs of such corporation in manner hereinbefore provided.

SEC. 47. The supreme court in term time, in any county, or any justice thereof in vacation, shall, upon complaint in writing from the bank commissioners under oath, setting forth that in their

opinion any bank or institution for savings, has forfeited its charter at law, or is so managing its concerns that the public or those having funds in its custody, are in danger of being defrauded thereby, or has become insolvent, forthwith issue citation to such corporation, directed to and to be served upon the president, directors, cashier or treasurer thereof, by leaving an attested copy at their banking room, or usual place of business, commanding such president, directors and cashier or treasurer personally to appear before said court, if in term time, or before said justice if in vacation, on a day and at a place to be mentioned in the citation, then and there under oath to show cause, if any they have, why a writ of injunction should not issue, enjoining such corporation from further exercising the powers and franchises conferred by its charter.

SEC. 48. If, upon the examination of the president, directors, cashier or treasurer and of such other witnesses and evidence as may be produced by the commissioners and defendants, the court in term time, or said justice in vacation, shall be of opinion that the charter of said corporation is forfeited at law, or that such corporation is so managed as that the public or those having funds in its custody are in danger of being defrauded thereby, or has become insolvent, they shall issue an injunction to the president, directors, cashier, treasurer and other officers of such corporation, enjoining them from proceeding further in transacting the business thereof; and shall appoint some discreet and proper person to be receiver of all the evidences of debt, goods, effects and property of every description belonging to such corporation, and may from time to time require such receiver to give such bond or bonds with sureties to their satisfaction, as they may think fit.

SEC. 49. The receiver may take the same into his possession, and shall collect the debts, dispose of the property and pay out of the proceeds thereof, if the same shall be sufficient, all the debts of the corporation, first reserving to himself a reasonable compensation for his services, and shall give the bill holders a preference over other creditors, or pay them ratably if there shall not be sufficient to pay the whole. In case there shall be any surplus after paying the receiver for his services, and after paying the debts of the corporation, with incidental expenses, the receiver shall distribute the same in due proportion among the stockholders of such bank, or other persons entitled thereto.

SEC. 50. The receiver shall be clothed with all the powers and rights in respect to the collection of debts due to such corporation, which the corporation possessed in virtue of its charter or otherwise, before such injunction issued; and may be removed by the supreme court, and another appointed in his stead; and the supreme court shall have the same power and authority over the receiver, his acts, proceedings and accounts, as is exercised by courts of equity in like cases.

SEC. 51. So long as any such injunction shall be in force against any corporation, all suits and legal process against such corporation for the collection of debts shall be stayed.

SEC. 52. The said court is also empowered to issue a limited or temporary injunction, staying proceedings in such particulars and for such length of time, as in the opinion of the court may be necessary for the safety of the public and the proper management of the affairs of the corporation, without proceeding to the appointment of a receiver.

SEC. 53. The said court at any term thereof, subsequent to the issuing of said injunction, shall, upon the hearing of all the parties upon said complaint, if they see cause, declare the charter of said corporation null and void.

SEC. 54. Such citation, whether issued by said court or by a single justice, may also contain a temporary injunction on said corporation and all its officers, restraining them from proceeding in any business of said corporation, which may diminish or endanger the assets of such corporation; which injunction, unless removed, shall continue until the complaint is finally disposed of.

SEC. 55. If the president, directors, cashier, treasurer, agents or servants of any bank or institution for savings which shall be enjoined as before mentioned, or any other person upon being required thereto, shall neglect or refuse to deliver to the receiver or receivers of such corporation, who may be appointed by virtue of this chapter, such evidences of debt, goods, effects and property of every description, and evidences of and titles to property belonging to such corporation as may be in their possession or under their control, each person so offending shall be fined not exceeding ten thousand dollars, or be imprisoned not exceeding three years; or be both fined and imprisoned within the limits last aforesaid, at the discretion of the court.

Institutions for Savings.

SEC. 56. All institutions for savings may and shall hereafter invest their receipts in such public stocks of any state or of the United States, or in any bank-stocks, or in notes or bonds of any town or city, or other public securities, as they may deem safe and secure, or in the notes, bonds or drafts of individuals, with two other responsible indorsers, sureties or guarantors, or in notes, bonds or drafts of individuals secured by the public notes, by bonds or stocks aforesaid, or on mortgage of real estate.

SEC. 57. No such institution shall have an amount exceeding one half of its receipts invested in notes, bonds or drafts of individuals unless secured by such public notes, bonds or stocks aforesaid, or by mortgage of real estate; but the preceding section shall not be so construed as to forbid any such institution from placing and holding on deposit in any bank such reasonable amount of their receipts as is customary, and they may deem proper, payable on demand, whether drawing interest or not.

SEC. 58. No money shall be loaned by any institution for savings, to any trustee, director, or other officer of such institution.

SECTION 1. Each incorporated bank and each incorporated institution for savings, shall make return to the bank commissioners, of its situation on some one day certain between the fifteenth day of May and the fifteenth day of June of each year, and also on some one day certain between the fifteenth day of November and the fifteenth day of December of each year, said days to be designated by the bank commissioners, subsequent to the days so designated for the returns to be made as aforesaid.

SEC. 2. The bank commissioners shall give notice of the day designated to the cashiers of the several banks and the treasurers of the several institutions for savings, and each bank and each institution for savings shall, within ten days after the notice aforesaid, make return of its situation on the day so designated as herein after prescribed.

Banks.

SEC. 3. The bank returns hereby required shall embrace the following particulars: Situation of the bank of, on the day of; capital actually paid in; amount of bills in circulation; amount of bills in circulation of denominations under five dollars on the day designated, or on the nearest day thereto on which the cashier can make a statement; amount of deposits on interest; amount of deposits not on interest; amount due to other banks; amount of dividends unpaid; amount of net profits on hand; total amount of liabilities; amount of debts due from directors; amount of debts due from other stockholders; amount of debts due from all others; amount of specie actually in bank; amount of bills of other banks; amount of deposits in other banks; amount of its own stock held by the bank; amount and description of stock in other banks; and amount and description of other stocks owned by the bank; amount and description of stocks held as collateral security for loans; amount of real estate; amount of other property; total amount of resources; increase of capital since last return; par value of shares; date, rate per cent. and amount of last dividend; amount of suspended paper considered

bad or doubtful; reserved profits at the time of the last dividend; amount loaned on pledges of stock in the bank; amount of debts due and not paid; largest amount of indebtedness of any one person or firm.

SEC. 4. The president and cashier of each bank, or in case of their inability from sickness or otherwise, two of the directors, shall be engaged to the truth of said return, which engagement shall be certified upon the return.

SEC. 5. If the president and cashier, or in case of their inability, the directors of any bank, shall neglect or refuse to make return as aforesaid, the bank shall forfeit to the use of the state twenty dollars for every day such bank shall neglect or refuse to make return after the expiration of the ten days aforesaid, to be recovered in the name of the general treasurer.

Institutions for Savings.

SEC. 6. The return hereby required to be made by each institu tion for savings shall embrace the following particulars: Situation of the institution for savings on the day of October, 18 ; amount of deposits; number of depositors; number who have sums deposited under one hundred dollars; number who have sums deposited of one hundred dollars, and under two hundred dollars; number who have sums deposited of two hundred dollars and under five hundred dollars; number who have sums deposited of five hundred dollars and under one thousand dollars; number who have sums deposited of one thousand dollars and upwards; largest amount due to any one depositor; amount invested in bonds and mortgages; amount of funds invested in stocks, specifying the names of the institutions in which such stocks are held, with their several amounts; amount loaned on personal security; amount of cash on hand; amount of profits on hand; amount and rate per cent. of last dividend; average rate of dividends for the last three years; amount of reserved profits at the time of last dividend; amount of deposits not liable to be claimed by individuals, and the names of depositors whose deposits have remained unpaid for the space of twenty years or more, and the several amounts of the same.

SEC. 7. The treasurers of the several institutions, or in case of their inability from sickness or otherwise, the president or one of the trustees shall be engaged to the truth of said return, which engagement shall be certified thereon.

SEC. 8. If the treasurer, or in case of his inability, the president or some one of the trustees, shall neglect or refuse to make return as aforesaid, the trustees shall personally forfeit twenty dollars for every day such institution shall neglect or refuse to make return as aforesaid, after the expiration of the ten days aforesaid, to be recovered in the name of the general treasurer, to the use of the

state.

SEC. 9. The bank commissioners shall, as soon as may be, cause an abstract of such bank returns, and the returns of the various