Digest of Rulings of the Federal Reserve Board (1914-1923, Inclusive): With Appendices Containing Text of the Federal Reserve Act, Regulations of the Federal Reserve Board and Related MatterU.S. Government Printing Office, 1924 - Board of Governors of the Federal Reserve System (U.S.) - 407 pages |
From inside the book
Results 1-5 of 73
Page xii
... payable " in exchange . " ( b ) Collection of bills - of - lading drafts . ( See also XIII - B . ) ( c ) " Par collection , " including decisions of courts . ( 1 ) Purchase of United States bonds in the open market . ( XVIII , 100 ) ...
... payable " in exchange . " ( b ) Collection of bills - of - lading drafts . ( See also XIII - B . ) ( c ) " Par collection , " including decisions of courts . ( 1 ) Purchase of United States bonds in the open market . ( XVIII , 100 ) ...
Page 16
... payable on demand without conditions to the trust department of a national bank , set aside in the trust department of that bank , is sufficient to comply with the provisions of section 11 ( k ) with regard to collateral security ...
... payable on demand without conditions to the trust department of a national bank , set aside in the trust department of that bank , is sufficient to comply with the provisions of section 11 ( k ) with regard to collateral security ...
Page 20
... payable on presentation , whether payable within or without its own district . A Federal reserve bank may also collect checks and drafts payable upon presentation within its district and maturing notes and bills payable within its ...
... payable on presentation , whether payable within or without its own district . A Federal reserve bank may also collect checks and drafts payable upon presentation within its district and maturing notes and bills payable within its ...
Page 22
... payable at member bank . Inasmuch as the acceptance of a member bank is necessarily " draft " on that bank , no charge may be made against the Federal reserve bank which forwarded it for collection . On the other hand , section 13 does ...
... payable at member bank . Inasmuch as the acceptance of a member bank is necessarily " draft " on that bank , no charge may be made against the Federal reserve bank which forwarded it for collection . On the other hand , section 13 does ...
Page 27
... payable to the seller of a commodity and actually uses the commodity for agricultural purposes , such a note may be treated as agricultural paper , whether discounted with a member bank by the farmer as the maker , or by the seller as ...
... payable to the seller of a commodity and actually uses the commodity for agricultural purposes , such a note may be treated as agricultural paper , whether discounted with a member bank by the farmer as the maker , or by the seller as ...
Common terms and phrases
accept drafts accepting bank act approved actually existing values aggregate agricultural paper agricultural purpose amended amount application applying bank authorized bank or trust bankers bill of lading bills of exchange board of directors bonds borrower Bulletin capital and surplus capital stock cent centum collateral commercial Comptroller corporation Currency December 23 deposits discount drafts drawn drafts or bills eligible for acceptance eligible for rediscount employee exchange drawn export Federal reserve act Federal reserve agent Federal reserve bank Federal Reserve Board Federal reserve notes Federal reserve system finance foreign funds indorsement investment liability Liberty bonds loan located maturity member bank national banking association nonmember bank officer organization certificate paid-up payable payment powers prescribed proceeds provisions of section purchase readily marketable staples regulations reserve city Revised Statutes Secretary section 13 shipment shipping documents thereof tion trade acceptance transaction Treasury trust company United XI(k XIII-C
Popular passages
Page 69 - Where in a bill drawer and drawee are the same person, or where the drawee is a fictitious person, or a person not having capacity to contract, the holder may treat the instrument, at his option, either as a bill of exchange or a promissory note.
Page 28 - Bank may discount notes, drafts, and bills of exchange arising out of actual commercial transactions; that is, notes, drafts, and bills of exchange issued or drawn for agricultural, industrial or commercial purposes, or the proceeds of which have been used, or are to be used, for such purposes...
Page 112 - A bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person, or to bearer.
Page 222 - 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 42 - Notes, drafts and bills admitted to discount under the terms of this paragraph must have a maturity at the time of discount of not more than ninety days...
Page 142 - The amount of its capital stock and the number of shares into which the same shall be divided.
Page 112 - Any note, draft, bill of exchange or banker's acceptance which arises out of a current transaction or the proceeds of which have been or are to be used for current transactions...
Page 149 - But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by the person negotiating the same, shall not be considered as money borrowed.
Page 161 - ... 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 184 - ... notes, drafts, and bills of exchange of factors issued as such making advances exclusively to producers of staple agricultural products in their raw state shall be eligible for such discount; 'but such definition shall not include notes, drafts, or bills covering merely investments or issued or drawn for the purpose of carrying or trading in stocks, bonds, or other investment securities...