Money and Banking |
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Page 47
... bank , these notes pass readily from hand to hand , performing all the essential ... land notes , excepting £ 18,450,000 secured by government securities , are ... Federal reserve notes , which provide a kind of " emergency currency ...
... bank , these notes pass readily from hand to hand , performing all the essential ... land notes , excepting £ 18,450,000 secured by government securities , are ... Federal reserve notes , which provide a kind of " emergency currency ...
Page 156
... Federal reserve banks . - The Federal Reserve Act of December 23 , 1913 ... bank owned by member banks and controlled in part by them and in part by a Fed ... land credit systems at home and abroad . Several states , including New York ...
... Federal reserve banks . - The Federal Reserve Act of December 23 , 1913 ... bank owned by member banks and controlled in part by them and in part by a Fed ... land credit systems at home and abroad . Several states , including New York ...
Page 157
... Federal land bank in each , with a subscribed capital stock of not less than $ 750,000 . Branches may be established in each district . ( Provision was made that for thirty days after the capital stock was offered for sale anyone might ...
... Federal land bank in each , with a subscribed capital stock of not less than $ 750,000 . Branches may be established in each district . ( Provision was made that for thirty days after the capital stock was offered for sale anyone might ...
Page 158
... Federal land banks and partly from the sale by the banks of bonds secured by first mortgages on farm lands . After a Federal land bank has loaned $ 50,000 on first mortgage , it may obtain permission to issue $ 50,000 in farm loan bonds ...
... Federal land banks and partly from the sale by the banks of bonds secured by first mortgages on farm lands . After a Federal land bank has loaned $ 50,000 on first mortgage , it may obtain permission to issue $ 50,000 in farm loan bonds ...
Page 159
... Federal land bank districts , and twelve Federal land banks have been estab- lished , one in each district , as follows : Springfield , Mass . , Baltimore , Md . , Columbia , S. C. , Louisville , Ky . , New Or- leans , La . , St. Louis ...
... Federal land bank districts , and twelve Federal land banks have been estab- lished , one in each district , as follows : Springfield , Mass . , Baltimore , Md . , Columbia , S. C. , Louisville , Ky . , New Or- leans , La . , St. Louis ...
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Common terms and phrases
acceptances amended amount assets balance bank notes Bank of England bank's bankers banking system bill of lading bills of exchange board of directors borrower capital and surplus capital stock cash cent central reserve centum charter checks clearing house coin commercial bank commercial paper Comptroller currency customers demand depositors deposits discount district dollar drafts drawn eral reserve farm loan association Farm Loan Board Federal Farm Loan Federal land bank Federal Reserve Act Federal reserve agent Federal reserve bank Federal Reserve Board Federal reserve notes Federal reserve system funds indorsed investment joint stock land liabilities loan bonds member banks ment mortgage national banks national farm loan note issues organization paid payable payment purchase receive redemption rediscount regulations reserve cities savings banks Secretary sell silver stock land bank stockholders teller tion transactions Treasury trust companies United York
Popular passages
Page 458 - Federal reserve 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 173 - The shareholders of every national banking association 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 460 - Third. Bills of exchange or drafts drawn against money actually on deposit to the credit of the association, or due thereto. Fourth. Liabilities to the stockholders of the association for dividends and reserve profits.
Page 476 - 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 471 - Any bank officer, director, or employee violating this provision shall be deemed guilty of a misdemeanor and shall be imprisoned not exceeding one year or fined not more than $5,000, or both; and may be fined a further sum equal to the money so loaned or gratuity given.
Page 473 - State thereof, and principally engaged in international or foreign banking, or banking in a dependency or insular possession of the United States either directly or through the agency, ownership, or control of local institutions in foreign countries, or in such dependencies or insular possessions.
Page 503 - 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 458 - ... bank may receive from any of its member banks, and from the United States, deposits of current funds in lawful money, national-bank notes, Federal reserve notes, or checks, and drafts, payable upon presentation, and also, for collection, maturing notes and bills; or, solely for purposes of exchange or of collection...
Page 450 - Federal reserve bank be dissolved or go into liquidation, any surplus remaining, after the payment of all debts, dividend requirements as hereinbefore provided, and the par value of the stock, shall be paid to and become the property of the United States and shall be similarly applied. Federal reserve banks, including the capital stock and surplus therein, and the income derived therefrom shall be exempt from Federal, State, and local taxation, except taxes upon real estate.
Page 466 - ... discretion of the Secretary for the purposes of this Act, and should the appropriations heretofore made be insufficient to meet the requirements of this Act in addition to circulating notes provided for by existing law, the Secretary is hereby authorized to use so much of any funds in the Treasury not otherwise appropriated for the purpose of furnishing the notes aforesaid: Provided, .however, That nothing in this section contained shall be construed as exempting national banks or Federal reserve...