SECTION 14. That clause 2 of subdivision (b) of section 64 of said Act be, and the same is hereby, amended so as to read as follows:

"(2) the filing fees paid by creditors in involuntary cases, and, where property of the bankrupt, transferred or concealed by him either before or after the filing of the petition, shall have been recovered for the benefit of the estate of the bankrupt by the efforts and at the expense of one or more creditors, the reasonable expenses of such recovery."

SECTION 15. That subdivision (b) of section 65 be, and the same is hereby, amended so as to read as follows:

The first dividend shall be declared within thirty days after the adjudication, if the money of the estate in excess of the amount necessary to pay the debts which have priority and such claims as have not been, but probably will be, allowed equals five per centum or more of such allowed claims. Dividends subsequent to the first shall be declared upon like terms as the first and as often as the amount shall equal ten per centum or more and upon closing the estate. Dividends may be declared oftener and in smaller proportions if the judge shall so order: Provided, That the first dividend shall not include more than fifty per centum of the money of the estate in excess of the amount necessary to pay the debts, which have priority and such claims as probably will be allowed: And provided further, That the final dividend shall not be declared within three months after the first dividend shall be declared."

SECTION 16. That subdivision (e) of section 67 and subdivision (e) of section 70 of said Act be, and the same are hereby, amended by adding at the end of each such subdivision the words:

"For the purpose of such recovery any court of bankruptcy as herein before defined, and any State court which would have had jurisdiction if bankruptcy had not intervened, shall have concurrent jurisdiction."

SECTION 17. That said Act is also amended by adding thereto a new section, section 71, to read as follows:

"SECTION 71. That the clerks of the several district courts of the United States shall prepare and keep in their respective offices complete and convenient indexes of all petitions and discharges in bankruptcy heretofore or hereafter filed in the said courts, and shall, when requested so to do, issue certificates of search certifying as to whether or not any such petitions or discharges have been filed; and said clerks shall be entitled to receive for such certificates the same fees as now allowed by law for certificates as to judgments in said courts: Provided, That said bankruptcy indexes and dockets shall at all times be open to inspection and examination by all persons or corporations without any fee or charge therefor."

SECTION 18. That said Act is also amended by adding thereto a new section as follows:

"SECTION 72. That neither the referee nor the trustee shall in any form or guise receive, nor shall the court allow them, any other or further compensation for their services than that expressly authorized and prescribed in this Act."

SECTION 19. That the provisions of this amendatory Act shall not apply to bankruptcy cases pending when this Act takes effect, but such cases shall be adjudicated and disposed of conformably to the provisions of the said Act of July first, eighteen hundred and ninetyeight.

Approved, February 5, 1903.

THE NATIONAL-BANK ACT

(Compiled Under the Direction of the Comptroller of the Currency)

CHAPTER I

THE CURRENCY BUREAU

1. The National-Bank Act.-Section 1 of the act of June 20, 1874, provides that the act entitled "An act to provide a national currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof," approved June 3, 1864, shall hereafter be known as the "National-Bank Act."

2. Comptroller of the Currency (Sec. 324).-There shall be in the Department of the Treasury a Bureau charged with the execution of all laws passed by Congress relating to the issue and regulation of a national currency secured by United States bonds, the chief officer of which Bureau shall be called the Comptroller of the Currency, and shall perform his duties under the general direction of the Secretary of the Treasury.

3. His Appointment, Term, and Salary (Sec. 325). - The Comptroller of the Currency shall be appointed by the President, on the recommendation of the Secretary of the Treasury, by and with the advice and consent of the Senate, and shall hold his office for the term of five years, unless sooner removed by the President, úpon reasons to be communicated by him to the Senate; and he shall be entitled to a salary of $5,000 a year.

4. His Qualification (Sec. 326). - The Comptroller of the Currency shall, within fifteen days from the time of notice of his appointment, take and subscribe the oath of office; and he shall give to the United States a bond in the penalty of $100,000, with not less than two responsible sureties, to be approved by the Secretary of the Treasury, conditioned for the faithful discharge of the duties of his office.

5. Deputy Comptroller (Sec. 327).-There shall be in the Bureau of the Comptroller of the Currency a Deputy Comptroller of the Currency, to be appointed by the Secretary, who shall be entitled to a salary of $2,800 a year, and who shall possess the power and perform the duties attached by law to the office of Comptroller during a vacancy in the office or during the absence or inability of the Comptroller. The Deputy Comptroller shall also take the oath of office prescribed by the constitution and laws of the United States, and shall give a like bond in the penalty of $50,000.

6. Interest in National Banks Prohibited (Sec. 329).-It shall not be lawful for the Comptroller or the Deputy Comptroller of the Currency, either directly or indirectly, to be interested in any association issuing national currency under the laws of the United States.

7. Office Clerks (Sec. 328). - The Comptroller of the Currency shall employ, from time to time, the necessary clerks, to be appointed and classified by the Secretary of the Treasury, to discharge such duties as the Comptroller shall direct.

8. Seal of Office (Sec. 330).-The seal devised by the Comptroller of the Currency for his office, and approved by the Secretary of the Treasury, shall continue to be the seal of office of the Comptroller, and may be renewed when necessary. A description of the seal, with an impression thereof, and a certificate of approval of the Secretary of the Treasury, shall be filed in the office of the Secretary of State.

9. Offices, Vaults, Etc. (Sec. 331).-There shall be assigned, from time to time, to the Comptroller of the Currency, by the Secretary of the Treasury, suitable rooms in the Treasury building for conducting the business of the Currency Bureau, containing safe and secure fireproof vaults, in which the Comptroller shall deposit and safely keep all the plates not necessarily in the possession of engravers or printers, and other valuable things belonging to his department; and the Comptroller shall, from time to time, furnish the necessary furniture, stationery, fuel, lights, and other proper conveniences for the transaction of the business of his office.

10. Annual Report (Sec. 333). - The Comptroller of the Currency shall make an annual report to Congress, at the commencement of its session, exhibiting:

FIRST. Condition of National Banks. -A summary of the state and condition of every association from which reports have been received the preceding year, at the several dates to which such reports refer, with an abstract of the whole amount of banking capital returned by them, of the whole amount of their debts and liabilities, the amount of circulating notes outstanding, and the total amount of means and resources, specifying the amount of lawful money held by them at the times of their several returns, and such other information in relation to such associations as in his judgment may be useful.

SECOND. Closed Banks. -A statement of the associations whose business has been closed during the year, with the amount of their circulation redeemed and the amount outstanding.

THIRD. Amendments Proposed. - Any amendment to the laws relative to banking by which the system may be improved and the security of the holders of its notes and other creditors may be increased. FOURTH. Condition of Other Banks. - A statement exhibiting under appropriate heads the resources and liabilities and condition of the banks, banking companies, and savings banks organized under the laws of the several states and territories, such information to be

obtained by the Comptroller from the reports made by such banks, banking companies, and savings banks to the legislatures or officers of the different states and territories, and, where such reports cannot be obtained, the deficiency to be supplied from such other authentic sources as may be available.

FIFTH. Employes and Expenses.-The names and compensation of the clerks employed by him, and the whole amount of the expenses of the banking department during the year.

11. When Annual Report Is Printed (Sec. 3811).- When the annual report of the Comptroller of the Currency upon the national banks and banks under state and territorial laws is completed, or while it is in process of completion, if thereby the business may be sooner despatched, the work of printing shall be commenced, under the superintendence of the Secretary, and the whole shall be printed and ready for delivery on or before the first day of December next after the close of the year to which the report relates.

12. Number of Copies to Be Printed. -The act of January 12, 1895, provides that there shall be printed of the annual report of the Comptroller of the Currency 10,000 copies; 1,000 for the Senate, 2,000 for the House, and 7,000 for distribution by the Comptroller of the Currency.

CHAPTER II

ORGANIZATION AND POWERS OF NATIONAL BANKS

13. Articles of Association (Sec. 5133). - Associations for carrying on the business of banking under this title may be formed by any number of natural persons, not less in any case than five. They shall enter into articles of association, which shall specify in general terms the object for which the association is formed, and may contain any other provisions, not inconsistent with law, which the association may see fit to adopt for the regulation of its business and the conduct of its affairs. These articles shall be signed by the persons uniting to form the association, and a copy of them shall be forwarded to the Comptroller of the Currency, to be filed and preserved in his office.

14. Organization Certificate (Sec. 5134).-The persons uniting to form such an association shall, under their hands, make an organization certificate, which shall specifically state:

FIRST. Title. - The name assumed by such association, which name shall be subject to the approval of the Comptroller of the Currency,

SECOND. Location.-The place where its operations of discount and deposit are to be carried on, designating the state, territory, or district, and the particular county and city, town, or village.

THIRD. Capital Stock.-The amount of capital stock and the number of shares into which the same is to be divided.

FOURTH. Shareholders. - The names and places of residence of the shareholders and the number of shares held by each of them.