rectly or indirectly in the securities deposited by him for the purpose of obtaining circulating notes, or in the business of circulating such notes, or in the benefits or advantages thereof, the superintendent shall withhold all interest and dividends on the securities deposited with him, by such banker, and all circulating notes from such banker, until he shall have filed in the banking department a certificate, signed and acknowledged by every person so returned or reported as interested in such securities, stating that such person is interested with such individual banker in the circulating notes obtained or to be obtained by him, and in the benefits and advantages of circulating the same. Such certificate shall be evidence that the person signing and acknowledging the same is a general partner with such banker in the business of banking, and as such is liable with him individually for all the debts and obligations created or made by such individual banker in his business. R. S., 1531, L. 1882, ch. 409, §§ 76, 77, 78. § 66. When bank may receive interest or dividends upon securities deposited. The superintendent may give to any bank or individual banker depositing and transferring securities to him pursuant to this chapter, a power of attorney to receive the interest or dividends thereon, and such bank or banker may thereupon receive and apply such interest or dividends to its own use. Such power may be revoked if such bank or banker fails to redeem the circulating notes so issued, or if, in the opinion of the superintendent, the principal of such securities shall become an insufficient security for the redemption of the circulating notes issued; and the superintendent may in his discretion, upon the application of any such bank or banker, change or transfer any securities deposited by it or him for other securities of the kinds hereinbefore specified, or he may retransfer such securities or any part thereof to the bank or banker depositing the same upon receiving and canceling a proportional amount of the circulating notes delivered by him to such bank or banker, in such manner that the circulating notes remaining outstanding shall always be secured in full. If the securities so deposited for the redemption of circulating notes shall, in the opinion of the superintendent, become insufficient for that purpose, he may receive the dividends on all such securities and deposit the same in some safe bank in the city of Albany in his name in trust for the bank or banker to whom the same may belong, on such terms and at such rate of interest as the superintendent may deem most conducive to the interest of any such bank or banker, and to be withdrawn and paid over whenever in the opinion of the superintendent the securities of such bank or banker shall be sufficient to warrant it. If it shall appear from any examination made by or at the instance of the superintendent that any bank or individual banker is in an unsound or unsafe condition to do business, or that the business of banking is not prosecuted by it or him at the place where such circulating notes are dated and purport to be issued, or is not transacted in the manner prescribed by law, the superintendent shall withhold and refuse to issue and deliver any registered notes to such bank or banker, and shall retain the interest on all securities held in trust for such bank or banker until such time as he shall be satisfied that such bank or banker is in a sound or safe condition to do banking business, and that the business of banking is transacted by it or him at the place where such circulating notes are dated and purport to be issued. R. S., 1532, L. 1882, ch. 409, § 82. § 67. Redemption agencies. - Every bank or individual banker issuing circulating notes, except those whose place of business is in the cities of New York, Albany, Brooklyn or Troy, and who have not already made such an appointment, shall forthwith appoint in writing an agent who shall keep an office in the city of New York, Albany or Troy, for the redemption of all circulating notes issued by it or him which shall be presented to such agent for payment or redemption; and such appointment shall be delivered to the superintendent forthwith and filed in his office. Any bank or individual banker or other person may be such agent. If any such bank or banker shall omit to appoint such agent forthwith, the superintendent shall appoint such agent for such bank or banker and file such appointment in his office. The superintendent shall, immediately after such appointment and filing thereof in his office, publish during such time as he may deem proper, a list of such agents in the state paper and in at least two daily newspapers in the city of New York. If the agent of any bank or banker shall neglect or refuse to redeem its notes on demand, such bank or banker shall pay to the person making such demand, interest on such notes at the rate of twenty per cent per annum. If such redemption and payment of interest is not made at such office within twenty days from the time when first demanded, such bank or individual banker may be proceeded against by the superintendent of banks in the same manner and with the like effect as though insolvent; and such bank or banker shall not issue or put in circulation any bills or notes; and the superintendent shall also proceed in the manner directed in section seventy-two of this chapter. Every bank and individual banker outside of the cities of New York, Albany, Brooklyn and Troy shall redeem and pay on demand all circulating notes issued by it or him presented for redemption or payment at the office of its such agent in the city of New York, Albany or Troy, at a rate of discount not exceeding one-quarter of one per cent. R. S., 1533, L. 1882, ch. 409, §§ 86, 87, 88. § 68. Destruction of bank notes. - When any circulating notes of any bank or individual banker shall be returned to the superintendent for destruction, the same shall be burned by or under the direction of the superintendent, and such bank or individual banker shall procure the attendance of an agent to witness the counting and destruction of such circulating notes at the departinent and sign a certificate thereof. If such bank or banker shall refuse or neglect to appoint or procure the attendance of such agent within ten days after the receipt of the bills at the department, the superintendent shall select and appoint some indifferent person, who shall, as the agent of such bank or individual banker, witness and certify the counting and destruction of such notes, and such bank or individual banker shall forthwith pay on demand to the person so appointed, witnessing and certifying, such compensation therefor as the superintendent shall certify to be just and reasonable. R. S., 1532, L. 1882, ch. 409, § 79. § 69. Destruction of plates and counterfeit notes. The superintendent shall destroy, or cause to be destroyed, all bank-note plates in his custody of banks or individual bankers becoming insolvent, or which have given notice of closing their business, and any impressions made therefrom on hand. Hereafter when any bank or individual banker shall become insolvent or discontinue the business of banking, the superintendent shall destroy, or cause to be destroyed, all plates and impressions belonging to such bank or individual banker, and include in his next annual report a statement of the plates so destroyed. Every public officer into whose hands shall come any counterfeit bank-note plate or other device for counterfeiting bank notes, or any counterfeit or spurious bank notes, immediately after using them when necessary in evidence against the parties implicated, shall surrender the same to the superintendent, to be destroyed under his supervision, and he shall destroy all such plates, devices or notes thus surrendered to him in the same manner as in case of banks whose charters have expired, or which have become insolvent, and report the same to the legislature in his annual report. R. S., 1532, L. 1882, ch. 409, § 80. § 70. Exchange of mutilated notes. -The superintendent shall receive mutilated circulating notes issued by him and deliver in lieu thereof other circulating notes to the same amount. Every person who shall mutilate, cut, deface, disfigure or perforate with holes, or shall unite or cement together, or to any other thing, any bank bill, draft, note or other evidence of debt issued by a bank, or shall cause or procure the same to be done with intent to render such bank bill, draft, note or other evidence of debt unfit to be reissned by such bank, shall forfeit fifty dollars to the corporation injured thereby. R. S., 1532, L. 1882, ch. 409, § 81. $71. Redemption in notes of other banks. - When an action shall be brought against any bank or individual banker for the recovery of the amount due on any circulating notes registered in the superintendent's office, the payment of which shall have been demanded at the banking-house or other place of business of the defendant, if it shall appear on the trial or otherwise, to the court in which such suit is brought, that at the time such demand of payment was made, the defendant offered in payment the circulating notes issued by any other bank or banker which were at the time at par in the city of New York, Albany or Troy, or a draft on any bank or banker in either of such cities, for the amount of the circulating notes so presented, with an affidavit, if required, that such draft is available to its full amount, to insure the immediate payment thereof on presentation, or in case any action shall be commenced upon such notes before the expiration of fifteen days from the time of the first demand thereof; and if such bank or banker shall be ready and prepared to redeem such notes in the lawful money of the United States at the ordinary place of business of such bank or banker, at the expiration of fifteen days from the time of the first demand thereof, with interest, then in either case the plaintiff in such action shall not recover any costs, fees or disbursements whatever against the defendant, and shall be entitled to recover no more than six per cent interest in lieu of all damages for the non-payment of such circulating notes. No interest shall be recovered upon such notes in any action unless the plaintiff or holder thereof shall have again presented the same for payment at the ordinary place of business of the defendant on or after the fifteenth day after such first demand and before the twentieth day, and the defendant shall have neglected or refused to pay the same with interest to that time. If such bank or banker at the time of the first presentation of such notes shall have offered to pay current bank notes or drafts, or both, or either, in the manner above provided, and shall, at the time of such second presentation, pay or tender the amount of such notes in the lawful money of the United States at its ordinary place of business, then such bank or banker shall not be deemed to have suspended or refused specie payment or payment of its circulating notes, within the meaning of any statutes authorizing proceedings for the dissolution of such bank, or to restrain or enjoin such bank or banker from the transaction of its business, nor shall such bank or banker in such case be liable to any other or greater damages for the non-payment of such notes than above provided, notwithstanding any contrary provision in the charter of such bank or of any other statute. R. S., 1534, L. 1882, ch. 409, § 91. § 72. Protests of notes and proceedings thereon. - If the maker of any circulating notes countersigned and registered as herein provided, shall at any time hereafter on lawful demand during the usual hours of business, between the hours of ten and three o'clock at the place where such notes are payable, fail or refuse to redeem such notes in the lawful money of the United States, the holder thereof making such demand, may cause the same to be protested in one package for non-payment by a notary public under his seal of office in the usual manner, unless the president, cashier or teller of the bank shall offer to waive demand and notice of the protest, and shall, in pursuance of such offer, make, sign and deliver to the party making such demand, an admission in writing, stating the time of the demand, the amount demanded and the facts of the non-payment thereof. The superintendent on receiving and filing in his office such admission or protest, together with such notes, shall forthwith give notice in writing to the maker thereof to pay the same, |