I
DAILY CAPITAL JOURNAL, SALEM, ORKGOX. S YTl'ltlUY, MAltCII 2.1, 1007.
Spice
perfection
Sold on Merit
Hfdlger&c" 9
f(0w
, ?Zpy
UlEH GRAD
SPICES
Always the Same
J.A.Foigep.:
San Francisco
lEGON'S NEW
BANKING LAW
(Continued from page six).
kt MB1 ncrcss.irj to provide for
Fki until such surplus shall equal
i wr tent of the pultl capital, pro-
Led bowercr, that ssid charges
l,!i sua butpiu inn" duum
Linr htn the undivided prof-
i iro insufficient to covor Bald
sectvn 1 The ow iters or officers
in, lank who shall ra
it nv d -posit knowing that
Kelt link H Insolvent shnll
deemed KUlltv of a felony,
11 cashed upon conviction thoro-
it a fltK not exceeding $100.0,
B,'jnnunt in the stnte penlton-
lr t ex. t Jing two years, or by
hi f: and imprisonment, at tho
rrt' a cf He court
Ik: a 1' Mt n nn minor or
other person under disability shall
havo or mako a deposit In any bank
In his or her name, such bank may
pay such money on a check or ordor
of such person, tho snmo ns in other
cases, and such payment shall bo In
all respects valid in law. No bank
shall bo llablo.to a depositor for tho
pnymont by It of a forged or raised
check unless within thirty days after
tho return to tho doposltor of tho
vouchor of such payment such do
posltor shall notify tho bnnk thnt the
checks so paid was forged or ralsod.
When u doposlt has beon made or
shall horcaftor bo mado In tho namo
of two persons, payable to either, or
payable to olthor or tho survivor,
such deposit, or nny part thereof, or
Interest or dividends t hereon, may
bo pnld to either of the said persons
whother the other bo living or not,
and the receipt or acquittance of the
porson so paid be valid and BUfllclont
release and discharge to tho bank for
any payment so made. This sosslon
shall apply to all banking institu
tions, including Xntlonal banks, with
in this state.
Section 20. Thte total llbnblllty to
nny bank( of any parson, or of nny
company, corporation or firm, for
m'onoy loaned, Including tho liabili
ties of tho company or firms, tho lia
bilities of tho Bevernl members there
of, Bhnll at no time exceed 25 per
cent of tho nggrogato paid In capital
and surplus of such bnnk; but tho
discount of bills of oxchnngo drawn
In good faith against nctual existing
vnluos, and tho discount of commer
cial or buslnoss pnpor actually ownod
by tho porsons negotiating tho snmo
and loans mado on or socurod by
real ostnto of porsonnl property,
warohoiiHo receipts and bills of lad
ing roprosontlng notual vnltto shall
not be restricted to or consldorod ns
coming within said limitation of 25
per cont; provided, that such loan
Bhnll not oxceed 75 per cent of tho
actual value of said commercial or
business paper, warehouse receipts,
or personal property and that such
lonn an all not oxceed 50 per cent of
tho nctual value of any renl estate
given as security for such loans.
Section 21. No owner, olllcer,
agent, clerk, or employee of nny bank
Hhall certify to a check unless the
nmount thereof actually stands to the
credit of the drawer on tho books of
tho bank, and any person who Bhnll
wilfully vlolato this provision shall,
on conviction thereof, bo deemed
guilty of n misdemeanor and bo pun
ished by a fine not exceeding $1000.
Tho amount of nny check certified
shall bo not at onco charged t6 the
drawor's account and credited to cer
tified check account, thoro to romnln
until snld check is retired. Any
such chock so cortifled by n duly au
thorized porson shall bo n good and
valid obligation of tho bnnk In tho
hands of the holder In duo course.
Soctton 22. No ofllcor, owner or
employee of any bank In this stnte,
nor tho stnto bank oxnmluor, nor nuy
employee of such state bank exam
I tner shall be permitted to borrow any
of tho funds of the bank upon his
own noto or obligation whothor so
, cured or not without first having ob
. talned the approval of a majority of
J the bonrd of directors of tho bank,
or or an executlvo board or discount
Ing committee selectod by a major
Ity of tho board of directors; such
selection to bo recordod In tho mln
, tites and the approval of tho loan, If
I obtained, shall bo mado a part of the
records of the bank. And If tho di
rectors of any Incorporated bank
shall knowingly pormlt nny of the
ofllcors, directors or omployoes of
such bank or the stnto bnnk examiner
or nny employee of such stnto bank
oxnmlnor to borrow tho funds of
Bitch bank In an excessive or dishon
or t ninnnor, or In n mnnnor Incurring
groat risk or loss to such bank, every
director who participated In or as
sented to tho samo shall bo hold
liable In his porsonnl and Invidldual
mpaclty' for all damngo whloh tho
corporation, Its stockholders or nny
o th or person shall have sustaluod In
consoquonco thereof.
Section 23. J3very bnnk doing
business undor this act In cities or
towns having a population of loss
than 60,000 Inhabitants, Bhnll have
on hand at nil Union In notual cash,
or balances due from good solvent
banks, to bo approved by tho bank
oxnmlnor, not lees than 15 por cont
of Its demnnd liabilities and 10 per
cent of Its time deposits. lSvory
bank doing buslnoss undor this net
In cities hnving n population exceed
ing 50,000 Inhabitants, shall havo
on hand at all times In nctual cash,
or balances due from good solvent
banks, to bo approved by the bnnk
examiner, not h ss than 25 per c nt
cou8HS KING OF CURES golds
THE WONDER WORKER
THROAT. DR. KINC?S LUNGS
NEW DISCOVERY
i
FOR COUGHS AND COLDS
PREVENTS PNEUMONIA
I had the most debilitating cough a mortal was ever afflicted with, and my friends expected that
when I left my bed It would, surely be for my grave. Our doctor pronounced my caso incurable,
but thanks be to God, four bottles of Dr. King's Now Discovery cured mo so completely thnt I am
all sound and well. MRS. EVA UNCAPHER, Grovertown, Ind.
Price 50c and $1,00 ABSOLUTELY GUARANTEED! Trial Dottle Freo
H SOLD AND GUARANTEED BY MM
J. C. PERRY'S DRUG STORE
WUHyi
of Its demand liabilities, and 10 per
cont of Its tlmo deposits. At least
one-third of the reserve- percentages
required under this section shall con
atst of actual cash on liMiid.
Section 2 1. The bank examiner
Bhnll call upon each bank governed
by tht provisions of this act for the
reports herein i Mildred. Such culls
shnll be nuido by the exttmluer Tor
tho same .lutes and ns often ns calls
are Issued by the comptroller of the
currency of the United States for
roports from National banks. The
bnnk oxnmlnor shall prescribe the
forms for such reorts. Snld reports
Bhnll be sworn to by the owners,
president, malinger, or oajshlor of tho
bnnk making thorn and attested 1V
not less than two of tho board or
directors If said bank Is ii corpora
tion, and shall exhibit lu detail and
hndcr appropriate- heads, the total
resources and total liabilities of thr
bank on the puxt la l the batik
cMimlixM h i'UIimI, and said repot Is
shall l transmitted bv the bank to
tho bnnk tHinliur within ten dns
of the receipt of n written or tele
graphic leanest therefor. The bank
making such reports shall cause an
abstract of tho same to be published
according to forms prescribed by the
bank examiner within 15 days from
receipt of call, In some newspaper
published In tho tjlty or town where
such bank Is situated, or, If no news
paper Is published therein, thei. In
some newspaper published at the
county seat of the county In which
such bank Is situated. Proof of
noli publication shnll he, furnished
by the bank to the blink oxnmluoi
within ten days from tho complatlon
thereof For any failure, or delav
lu riiiutrthliig Maid repot 1 1, publish
ing th ' snim and suppblug tit'
pionf ihi roof thi owntiH prcslden'
manager, or cashier, of any such
bank so lu default nud tho mouthers
of the board of directors of mi lit
bank, If said bank Is a corporation,
refusing to attest said report shall
be deemed guilty of a misdemeanor
hud upon conviction thetenf shall be
punished by a Huh of ?R0 a day for
each day while lit such default.
Section R. The bank examiner
shall locelve and plnce on llle In his
o til eo the reports required to be made
by banks under this act, prepare and
furnish on demand, to nil the banks
required to report, blank forms for
such statements or reports ns nitty
be by law required of (hum: mako
on or before (he llrst day of Docoin
bur of unah year a report to tho sold
board of bank commlHHionorH, con
taining a copy of tho ptihlltihod ab
stract of (he liiRt report furnished
hi each Iwuil. uiuhr IiIh Juiludlrllon
and iiu otb prorccdltiRH had or
xlScisciscisCiXiSsQSscssc 3
PORTLAND GENERAL ELECTRIC CO.
240 SOUTH COMMERCIAL STREET
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INTERIOR Of BOILER ROOM PORTLAND GENERAL ELECTRIC COMPANY STEAM PLANT, SALEM, OREGON.
800 HORSE POWER. OIL BURNERS.
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