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Show I , NEW YORK CONGRESSMAN I WITS GOVERNMENT UK' I Introduces Measure to Establish a , Central Government Institution f With Capital of $100,000,000. :i !' Washington. Tho estnbllslimont of I tho "United States National Hank of i Amorlca" Is provided for In n 1)111 In- j traduced In tho honso by Mr. Fornos (Dnm.) of Now York. Tho bank na concolved la to bo loented In Wash- ' Ington nnd Is to lmvo a cnpltnl stock of 1100,000.000, divided Into 100,000 ' nhnrcs of tho par valuo of $1,000. i Three-fifths of tlicso slinrcs nro to bo j purchased by tho United States tress- ' A uror at par. tho purchnso money to lio ! Tnlsod by tho salo of $G0,000,000 bonds, j payablo In fifty years nnd bearing !1 . por cent Interest, tho samo to bo des- I Ignoled "U. S. currency bonds." Two-nfllm Two-nfllm of tho shares nro to bo offered I nt not less than par to tho national If banks of tho country, to bo paid for 1 1 In irold coin. I1 Tho United States National Dank of America Is to open for business II P Scptomher 1, 1008, and to cense to P j exist September 1, 1958, unless Its llfo I f bo extended by congress. Branches J aro to bo established In Now York. . Chicago, Now Orlenns, Boston, Den- vor, St. Louis, San Frnnclsco, Cln-j Cln-j . clnnntl nnd Portland, Oro. Tho bank shall bo governed by n bonrd of twon- ty-flvo directors, elected by tho stock- t lioldors, nnd tho socretnry of tho trans- ' ury shall bo tho chairman. Tho bank f may issuo additional notes of tho "United States Nntlonnl Hank of Amor-; Amor-; lea in nmnunts not exceeding $40,000,- il i 000 and such notes shall bo nvnllablo II f for gonornl notlonnl bank circulation upon deposit of proper security. Four por cent dividends may bo ! paid to stockholders on tho bank 1 earnings. |