Annual Report of the Commissioner of the Banking Department of the State of Michigan |
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Page x
... of Sections 24 and 27 of the Banking Law as to cash and legal reserves , have been fully met , as is evidenced by the following table : Commercial cash reserve . Per cent reserve . Savings deposits X STATE BANKING DEPARTMENT .
... of Sections 24 and 27 of the Banking Law as to cash and legal reserves , have been fully met , as is evidenced by the following table : Commercial cash reserve . Per cent reserve . Savings deposits X STATE BANKING DEPARTMENT .
Page xii
Michigan. Banking Division. As exhibited by the above table , the highest combined reserves maintain- ed during the year was on February 20 , 1912 , being 22.04 per cent ; while reserves were lowest November 26 , 1912 , dropping to 18.31 ...
Michigan. Banking Division. As exhibited by the above table , the highest combined reserves maintain- ed during the year was on February 20 , 1912 , being 22.04 per cent ; while reserves were lowest November 26 , 1912 , dropping to 18.31 ...
Page xiv
Michigan. Banking Division. On May 6 , 1912 , the Home Savings Bank of Marine City consolidated with the Marine Savings Bank , Marine City . On July 30 , 1912 , the Homer State Bank of Homer consolidated with the Calhoun State Bank ...
Michigan. Banking Division. On May 6 , 1912 , the Home Savings Bank of Marine City consolidated with the Marine Savings Bank , Marine City . On July 30 , 1912 , the Homer State Bank of Homer consolidated with the Calhoun State Bank ...
Page xxii
Michigan. Banking Division. To provide the machinery whereby a state bank may enforce the statu- tory lien upon its own ... banks in reserve cities to maintain a 20 per cent reserve on commercial deposits , and to give the Department ...
Michigan. Banking Division. To provide the machinery whereby a state bank may enforce the statu- tory lien upon its own ... banks in reserve cities to maintain a 20 per cent reserve on commercial deposits , and to give the Department ...
Page xxiii
... reserve as is required to be maintained by state banks , in that they are expressly required to maintain as reserve only 20 per cent of their matured obligations , while state banks are required to maintain 15 to 20 per cent of all ...
... reserve as is required to be maintained by state banks , in that they are expressly required to maintain as reserve only 20 per cent of their matured obligations , while state banks are required to maintain 15 to 20 per cent of all ...
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Common terms and phrases
00 Furniture 00 Gold coin 00 Nickels 00 Other real 00 rent expenses 00 Savings department 00 Silver coin 00 Surplus fund 00 Undivided profits Assistant Cashier banks and bankers banks in reserve bills rediscounted Bills bonds to secure Capital stock paid Cashier's checks outstanding certificates of deposit Certified checks clearing house Commercial deposits subject Dividends unpaid Due from banks Due to banks exceeding earnings Exchanges for clearing Furniture and fixtures interest and taxes Items in transit June 14 less losses Liabilities Loans and discounts monies on deposit mortgages and securities National bank currency Nickels and cents Notes and bills Overdrafts real estate rediscounted Bills payable Report of Apr Report of Dec Report of June Report of Report Report of Sept reserve cities Reserved for taxes Resources Savings certificates secure U. S. deposits subject to check U. S. and National U. S. treasurer United States bonds Vice President
Popular passages
Page xxvii - 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 xxxv - ... with the concurrence of the Attorney General, to institute proceedings for the appointment of a receiver to wind up the affairs of the bank.
Page xlv - The total liabilities to any bank of any person or of any company, corporation or firm for moneys advanced, including in the liabilities of the company or firm, the liabilities of the several members thereof...
Page lv - ... persons holding stock as executors, administrators, guardians or trustees, and persons holding stock as collateral security, shall not be personally liable as stockholders, but the assets and funds in their hands constituting the trust shall be liable to the same extent as the testator, intestate, ward or person interested in such trust funds would be, if living or competent to act; and the person pledging such stock shall be deemed the stockholder and liable under this section.
Page lii - person' may extend and be applied to bodies politic and corporate as well as to individuals.
Page lxvii - 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...
Page xxxi - Lansing, Michigan : My Dear Sir — I am in receipt of your communication of the 16th inst. in which you ask whether or not certificates of indebtedness issued...
Page xxxii - ... (b) In the public debt or bonds of any city, county, town- city, county, ete. ship, village or school district of any state or territory in the United States, which shall have been authorized by the legislature of such state or territory: Provided, The total Proviso M to indebtedness of such municipality does not exceed five per'nc cent of its assessed valuation...
Page lv - Such liability may be enforced in a suit at law or in equity by any such bank in process of liquidation, or by any receiver, or other officer succeeding to the legal rights of said bank.
Page lviii - ... notes, bills or other evidences of debt, the payment of which is secured by the deposit with the bank, of collateral security consisting of personal property or securities of known marketable value, worth ten per cent more than the amount so loaned and interest for the time of the loan...