The Federal Farm Loan System, New Method of Farm Mortgage Finance, Under National Supervision: A Practical Manual Upon Organizing and Conducting National Farm Loan Associations, Also Joint Stock Land Banks. Showing how Farmers, Investors, Bankers and the Public May Obtain the Fullest Benefit of the System |
From inside the book
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Page 24
... cash bal- ance in hand of $ 500 for working capital . Not only may the farmer obtain capital through his own national farm loan associa- tion right in his own locality , but membership therein brings him in closer touch with his ...
... cash bal- ance in hand of $ 500 for working capital . Not only may the farmer obtain capital through his own national farm loan associa- tion right in his own locality , but membership therein brings him in closer touch with his ...
Page 32
... cash in " upon the reputation they have established . Advantages to the Farmer . Addressing this individual farmer , I am now able to say : If you will do your part , by forming or joining your own national farm loan association in your ...
... cash in " upon the reputation they have established . Advantages to the Farmer . Addressing this individual farmer , I am now able to say : If you will do your part , by forming or joining your own national farm loan association in your ...
Page 41
... cash upon the granting of the loan . " This means that each would - be member must pay $ 5 for one share of the par value of $ 5 for each $ 100 he wishes to borrow . The only limit to the number of farmers who may 4I NATIONAL FARM LOAN ...
... cash upon the granting of the loan . " This means that each would - be member must pay $ 5 for one share of the par value of $ 5 for each $ 100 he wishes to borrow . The only limit to the number of farmers who may 4I NATIONAL FARM LOAN ...
Page 46
... cash or in farm loan bonds . Provision is also made for the dissolution and receivership of any association which " has failed to meet its outstanding obligations of any description . " But an association may not be declared insolvent ...
... cash or in farm loan bonds . Provision is also made for the dissolution and receivership of any association which " has failed to meet its outstanding obligations of any description . " But an association may not be declared insolvent ...
Page 48
... cash on hand for minor expenses . Temporary Advances . A local also has the right to apply to its land bank for an ad- vance or loan not exceeding in the aggregate one - fourth of its total stockholding in the land bank . The latter may ...
... cash on hand for minor expenses . Temporary Advances . A local also has the right to apply to its land bank for an ad- vance or loan not exceeding in the aggregate one - fourth of its total stockholding in the land bank . The latter may ...
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Common terms and phrases
accrue agent amount application appointed approval authorized board of directors capital stock cash centum per annum charge charter ciation co-operative collateral security coupon debt default deposits dividends earnings exceed exceeding expenses and profits farm loan act farm loan association Farm Loan Board Farm Loan Commissioner farm loan registrar farm loan system farm mortgage Federal Farm Loan federal land bank federal reserve Federal Reserve Act five per cent funds gages government bonds held holder indorsed insured investment investors issue of farm joint stock land land bank district land mortgage lender loan asso loan bonds issued loan committee ment mort mortgage loans national farm loan organized paid payment person principal rate of interest real estate receive Secretary section twelve sell semi-annual dues shareholders shares six months stock land bank supervision surety bond taxation thereof thrift tion Treasury unpaid vote
Popular passages
Page 193 - ... shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein at the par value thereof, in addition to the amount invested in such shares...
Page 227 - That if any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
Page 224 - That if any person shall falsely make, forge, or counterfeit, or cause or procure to be falsely made, forged or counterfeited, or willingly aid or assist in falsely making, forging, or counterfeiting any note, in imitation of, or purporting to be...
Page 225 - ... draft, bill of exchange, mortgage, judgment, or decree; or who makes any false entry in any book, report, or statement of the association, with intent, in either case, to injure or defraud...
Page 180 - To exercise by its board of directors, or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin and bullion; by loaning money on personal security...
Page 225 - Currency, or from the board of directors of such bank, except when ordered to do so by a court of competent jurisdiction, or by direction of the Congress of the United States, or of either House thereof, or any committee of Congress or of either House duly authorized. Any person violating any provision of this section shall be punished by a fine of not exceeding $5,000 or by imprisonment not exceeding one year, or both.
Page 224 - Other than the usual salary or director's fee paid to any officer, director, or employee of a member bank and other than a reasonable fee paid by said bank to such officer, director, or employee for services rendered to such bank, no officer, director, employee, or attorney of a member bank shall be a beneficiary of or receive, directly or indirectly, any fee, commission, gift, or other consideration...
Page 179 - State in which said bank is to be located, the amount of capital stock and the number of shares into which the same is divided, the name and place of doing business of each bank executing such certificate, and of all banks which have subscribed to the capital stock of...
Page 186 - Treasury shall require the associations thus designated to give satisfactory security, by the deposit of United States bonds and otherwise, for the safe-keeping and prompt payment of the public money deposited with them, and for the faithful performance of their duties as financial agents of the Government...
Page 179 - The names and places of residence of the shareholders, and the number of shares held by each of them. Fifth. The fact that the certificate is made to enable such persons to avail themselves of the advantages of this title.