ARTICLE LVII.

Dividends declared and not called for within three years following the date upon which they are due and payable shall draw the interest specified for voluntary deposits in money, commencing from the expiration of said period.

ARTICLE LVIII.

No information shall be furnished by the bank concerning the funds in its custody in a current account, or on deposit, belonging to a given person, corporation, or other legal entity, except under authority of an order of the Governor-General or of a court with jurisdiction.

ARTICLE LIX.

That the Treasurer of the Philippine Islands, provincial and municipal treasurers, and other authorized public officials shall, from time to time, deposit with the bank and its branches, upon such terms as may be prescribed by the Government of the Philippine Islands, such public moneys and trust funds as may be available for this purpose, without discrimination against the bank or in favor of other institutions; but this clause shall not bind such officials to make or maintain such deposits when, in their opinion, it is inadvisable.

ARTICLE LX.

The balance sheet provided for in article one hundred and fiftyseven of the Code of Commerce shall be drawn up and published monthly, and the bank and its branches shall make to the Treasurer of the Philippine Islands not less than five reports during each and every year, according to the form which may be prescribed by him, verified by the oath or affirmation of the president or cashier of the bank and attested by the signature of at least three of the directors; which report shall exhibit, in detail and under appropriate heads, the resources and liabilities of the bank at the close of business on any past day specified by said Treasurer, and shall transmit such report to him within ten days after the receipt of a request or requisition therefor from him; and the report above required, in the same form in which it is made to the Treasurer, shall be published, at the expense of the bank, in a newspaper in the city of Manila; and the Treasurer of the Philippine Islands shall have power to call for special reports of the condition of the bank and its branches whenever in his judgment the same shall be necessary in order to a full and complete knowledge of its conditions. Failure to make and transmit such a report shall render the bank liable to a penalty of one hundred pesos for each day after ten days that said bank or any of its branches shall delay to make and transmit any report as aforesaid; these reports shall be in lieu of the quarterly reports prescribed by section one of Act Numbered Fiftytwo of the Philippine Commission of November twenty-third, nine

11027-WAR 1907-VOL 10--33

teen hundred, which quarterly reports shall no longer be required from the bank.

ARTICLE LXI.

That the Government of the Philippine Islands renounces all rights which it may have derived under Spanish law to appoint the governor and other officers of the bank or to interfere in any way with its administration, except to make examination of its solvency and supervise its conduct in the interest of the public in the same manner as such examination and supervision are or may be exercised over national banks in the United States and as prescribed by the laws of the Philippine Islands.

ARTICLE LXII.

That the Government of the Philippine Islands renounces all right and title derived from Spanish law and existing statutes of the bank to a loan of any money to the Treasury of the Philippine Islands.

TITLE VIII.—Dissolution and winding up of the bank.

ARTICLE LXIII.

The bank shall be dissolved,-(1) upon the expiration of its legal term unless legally extended in accordance with the provisions of this Act, (2) upon the loss of one-half of the capital subscribed, in which case the general board of directors shall immediately call, within as short a period as possible, an extraordinary general assembly of the stockholders to report the condition of the bank.

The general board of directors may direct that the bank shall continue, in which case it may determine the necessary steps to be taken to fix the status of the bank, provided those present and voting represent two-thirds of the capital.

ARTICLE LXIV.

A dissolution having been decided upon, the winding up of the bank's affairs shall be in charge of the general board of directors then in office, unless said general board shall determine to appoint receivers, in which case said receivers shall receive such compensation as said general board may direct.

ARTICLE LXV.

While the winding up of the affairs of the bank continues the powers of the general board shall remain intact.

The board shall specially have the power to approve the accounts of the receivership and to give a discharge.

The amount realized, after paying the debts and expenses of the bank, shall be distributed pro rata among the stockholders.

ARTICLE LXVI.

That nothing in this Act shall be held to prevent the exercise by the Governor-General and the Treasurer of the Philippine Islands of the powers conferred upon them by Act Numbered Five hundred and fifty-six of the Philippine Commission, enacted December ninth, nineteen hundred and two, or such amendments of that Act as may have been enacted or as may hereafter be enacted.

SEC. 2. The public good requiring the speedy enactment of this bill, the passage of the same is hereby expedited in accordance with section two of an "An Act prescribing the order of procedure by the Commission in the enactment of laws," passed September twentysixth, nineteen hundred.

SEC. 3. This Act shall take effect upon the filing with the Executive Secretary by the General Board of Directors of the Banco Español-Filipino of the written acceptance by the Bank of the provisions hereof.

Enacted, October 12, 1907.

[No. 1791.]

AN ACT To amend in certain respects Act Numbered Eighty-two, known as the Municipal Code.

By authority of the United States, be it enacted by the Philippine Commission, that:

SECTION 1. Subsection (7) of section eighteen of Act Numbered Eighty-two, as amended, is hereby further amended to read as follows:

"(7) He shall appoint, by and with the consent of the majority of all the members of the council, the municipal secretary and all nonelective officers and employees who may be provided for by law or by ordinance, with the exception of the municipal treasurer and the employees of his office, and at any time, for cause, he may suspend any such officer or employee thus appointed for a period not exceeding ten days, which suspension may be continued for a longer period by the council; and by and with the consent of a majority of all the members of the council he may discharge any such officer or employee.

"The municipal treasurer shall be appointed by the provincial treasurer, subject to the approval of the provincial board, and may be removed from office by the provincial board or the GovernorGeneral for cause. The position of municipal treasurer shall be classified and subject to all the provisions of the Civil Service Act and rules.

"The municipal treasurer shall appoint such clerks and other employees as are necessary to aid him in the discharge of his duties when the number and salaries thereof are determined in the manner provided by this Act. In case it shall appear that the number or salaries authorized by the municipal council are manifestly inadequate, it shall be within the power of the provincial board, on application, to increase the number of clerks or employees or the salaries

fixed by the municipal council therefor. The municipal treasurer may, for cause, suspend from office without salary for not to exceed thirty days any employee thus appointed or, with the approval of the provincial treasurer, remove him from office."

SEC. 2. Subsection (aa) of section thirty-nine of said Act is hereby amended to read as follows:

"(aa) Establish and maintain municipal pounds and fix the fees for poundage; regulate, restrict, or prohibit the running at large of domestic animals and dogs unlicensed, and provide for the distraining, impounding, and sale of the same for the penalty incurred and the cost of the proceedings; also impose penalties upon the owners of said animals for the violation of any ordinance in relation thereto : Provided, That large cattle' within the meaning of Act Numbered Eleven hundred and forty-seven shall be disposed of in accordance with that Act."

SEC. 3. Subsection (k) of section forty of said Act is hereby amended to read as follows:

"(k) To license public carriages, carts, and hearses kept for hire: and regulate cafés, restaurants, hotels, inns, and lodging houses; to license and regulate or to prohibit public dancing schools, public dance halls, and horse races; to license without taxing and to regulate public billiard tables, theatrical performances, and circuses. SEC. 4. Subsection (7) of section forty of said Act is hereby amended so as to read as follows:

"(7) 1. To provide, when no American public-school teacher is assigned to the municipality or when no public school of secondary instruction is maintained therein, for the expenditure from the school funds established in accordance with subsection (b) of section forty-three of this Act, or from any other municipal funds not otherwise appropriated, of not more than forty pesos per month during the school year, to be used in equal parts toward the support of two residents of the municipality while receiving training for positions as public-school teachers in the municipality at any public secondary school established under the Department of Public Instruction. The persons thus supported shall be one young man and one young woman, whose respective ages shall not be less than fifteen nor more than twenty-five years, and whose parents are not able to pay their expenses while attending schools of secondary instruction. They shall be appointed by the president, by and with the consent of the majority of all the members of the council, subject to confirmation, after one month's attendance, by the principal of the school in which they are appointed to receive instruction.

"2. To provide, further, for the expenditure from general municipal funds or, with the approval of the Secretary of Public Instruction, from the municipal school funds established in accordance with subsection (b) of section forty-three of this Act and section one hundred and fifty of Act Numbered Eleven hundred and eighty-nine, as amended, of not to exceed forty pesos per month during the school year for each person appointed, as hereinafter provided, to receive in the Philippine Normal School, the Philippine School of Arts and Trades, the Philippine School of Agriculture, or any other Insular school, special training for the teaching of the academic branches, domestic science, agriculture, or arts and trades: Provided, That the total number of students appointed shall not exceed four from any

one municipality. These students shall be appointed by the municipal president, by and with the consent of the majority of all the members of the council, from a list of eligibles certified to the president by the division superintendent of schools, and by him recommended for such appointment.

"Only those who have satisfactorily completed and been graduated from the prescribed intermediate course of instruction and are not less than seventeen nor more than thirty years of age shall be eligible for appointment as special municipal students in the Philippine Normal School or in the Philippine School of Agriculture; and only those who have satisfactorily completed the first year of the prescribed intermediate course of instruction and are not less than seventeen nor more than thirty years of age shall be eligible for appointment as special municipal students in the Philippine School of Arts and Trades.

"Each student appointed in accordance herewith shall be required by the municipal president to sign an agreement to the effect that, upon the termination of his studies pursued according to the terms of his appointment and agreement, he will return to the municipality appointing and maintaining him as a special student and accept an appointment either as a municipal or as an Insular teacher in said municipality, and faithfully perform the duties relative thereto for such salary as may be fixed by competent authority, for a period of time equal to that spent by him in study at the expense of the munici pality from which he is appointed."

SEC. 5. Section forty-one of said Act is hereby amended to read as follows:

SEC. 41. Whenever the council is desirous of securing a legal opinion upon questions arising in relation to the constitution or attributes of the municipal government, it shall frame the questions in writing and submit them to the provincial fiscal for decision. Each act, resolution, and ordinance of the council shall be numbered consecutively throughout the calendar year; each executive order shall also be consecutively numbered. The municipal secretary shall, within thirty-six hours after any session of the council or the issuance of an executive order, forward a correct copy of each act, resolution, and ordinance passed thereat, and of every executive order, properly numbered, to the provincial board. The board shall promptly pass upon the legality of the same, entering its action. upon the minutes and advising the proper municipal secretary of such action. The secretary shall thereupon notify the council, and that body shall note the receipt of notification upon its minutes. The provincial board shall approve all acts, ordinances, resolutions, and orders which are within the powers conferred upon the council or president making the same and declare null and void such as are not within said powers. If the board shall be in doubt as to the legality of any such act, ordinance, resolution, or order it shall declare the same suspended and refer the question to the fiscal for his opinion. Such opinion shall be given promptly, and upon its receipt the board shall take action thereon in accordance with law and immediately advise the municipal secretary thereof. The municipal secretary shall also, within the thirty-six hours aforesaid, forward to the provincial treasurer a copy of each act, resolution, or ordinance authorizing or necessitating the collection of municipal