Chapter 378. to amend sections five thousand one hundred and ninety-one and live thousand one hundred and ninety-two of the Revised Statutes of the United States, and for other purposes
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CHAP. 378.— An Act to amend sections five thousand one hundred and ninety-one and live thousand one hundred and ninety-two of the Revised Statutes of the United States, and for other purposes.Mar. 3, 1887. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*,Cities having 50,000 population may be added to “reserve” cities. That whenever three-fourths in number of the national banks located in any city of the United States having a population of fifty thousand people shall make application to the Comptroller of the Currency, in writing, asking that the name of the city in which such banks are located shall be added to the cities named in sections, fifty-one hundred and[R.
S., secs. 5191, 5192, p. 1004](/us/rs/t/s5191/5192/p1004). ninety-one and fifty-one hundred and ninety-two of the Revised Statutes, the Comptroller shall have authority to grant such request, and every bank located in such city shall at all times thereafter have on hand, in lawful money of the United States, an amount equal to at feast twenty-five per centum of its deposits, as 560 provided in sections fifty-one hundred and ninety-one and fifty-one hundred and ninety five of the Revised Statutes.
Sec. 2. That whenever three-fourths in number of the national banksCities having 200,000 population may be made “central reserve” cities. located in any city of the United States having a population of two hundred thousand people shall make application to the Comptroller of the Currency, in writing, asking that such city may be a central reserve city, like the city of New York, in which one-half of the lawful-money reserve of the national banks located in other reserve cities may be [R.
S., sec. 5195, p. 1004](/us/rs/t/s5195/p1004).deposited, as provided in section fifty-one hundred and ninety-five of the Revised Statutes, the Comptroller shall have authority, with the approval of the Secretary of the Treasury, to grant such request, and every bank located in such city shall at all times thereafter have on hand, in lawful money of the United States, twenty-five per centum of its deposits, as provided in section fifty-one hundred and ninety-one of the Revised Statutes.
Sec. 3. That section three of the act of January fourteenth, eighteenLegal-tender notes may lie redeemed at San Francisco.Vol. 18, p. 296. hundred and seventy-five, entitled “An act to provide for the resumption of specie payments, be, and the same is, hereby amended by adding after the words “New York” the words “and the city of San Francisco, California,” Approved, March 3, 1887.