National Banking Under the Federal Reserve System |
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Page 16
... increase for the period was 76 . III DEVELOPMENT OF SMALLER BANKS PRIOR to 1900 , the minimum national bank capitalization permissible under the law was $ 50,000 . This meant that in many of the less populous and less wealthy ...
... increase for the period was 76 . III DEVELOPMENT OF SMALLER BANKS PRIOR to 1900 , the minimum national bank capitalization permissible under the law was $ 50,000 . This meant that in many of the less populous and less wealthy ...
Page 18
... increasing their loaning power under unusual demands . Currency Bank note currency - the only form of currency which might be ex- pected to respond by expansion and contraction to unusual needs - was deprived of elasticity because its ...
... increasing their loaning power under unusual demands . Currency Bank note currency - the only form of currency which might be ex- pected to respond by expansion and contraction to unusual needs - was deprived of elasticity because its ...
Page 20
... increase in the number of national banks organized was 201 , but total assets of all national banks increased from 11.5 billion dollars to 20.9 billion ( September 15 , 1922 ) , or nearly 100 per cent . In other words , the increase in ...
... increase in the number of national banks organized was 201 , but total assets of all national banks increased from 11.5 billion dollars to 20.9 billion ( September 15 , 1922 ) , or nearly 100 per cent . In other words , the increase in ...
Page 21
First National City Bank of New York. period , and loans increased over 90 per cent . These two items per $ 1 of capital , at the beginning and close of the period were : YEAR 1913 1922 DEPOSITS PER $ 1 OF CAPITAL $ 5.63 10.28 LOANS PER ...
First National City Bank of New York. period , and loans increased over 90 per cent . These two items per $ 1 of capital , at the beginning and close of the period were : YEAR 1913 1922 DEPOSITS PER $ 1 OF CAPITAL $ 5.63 10.28 LOANS PER ...
Page 22
... INCREASE CLOSE OF PERIOD ( millions ) YEARLY INCREASE ( millions ) YEARLY AT CLOSE OF AT CLOSE OF PERIOD ( millions ) INCREASE ( millions ) BY PERIOD ( millions ) ( inclusive ) 2,308 115 485 24 2,350 117 1,409 21.3 20 years 1883-1899 ...
... INCREASE CLOSE OF PERIOD ( millions ) YEARLY INCREASE ( millions ) YEARLY AT CLOSE OF AT CLOSE OF PERIOD ( millions ) INCREASE ( millions ) BY PERIOD ( millions ) ( inclusive ) 2,308 115 485 24 2,350 117 1,409 21.3 20 years 1883-1899 ...
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Common terms and phrases
acceptances aggregate amended amount application appointed articles of association assets authorized bank circulation bank is located bank notes bank or trust bank's capital bankers bills of exchange board of directors bonds capital and surplus capital stock centum circulating notes Comptroller consolidated bank corporation organized Currency deposits discount dividend Edge Corporation election employee exclusive of days Federal Reserve Act Federal reserve agent Federal reserve bank Federal Reserve Board Federal reserve notes Federal Reserve System foreign funds furnished gold certificates held hereby increase lawful money liabilities loans member bank National Bank Act national banking association National City Bank notes issued number of shares officer organization certificate organization committee paid payable payment period person prescribed purchase purpose real estate receive Revised Statutes Secretary secured shareholders stock and surplus stockholders subscribe subscription thereof tion transactions Treasury trust company undivided profits unimpaired capital United vote War Finance Corporation
Popular passages
Page 128 - 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 69 - 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 109 - To grant by special permit to national banks applying therefor, when not in contravention of State or local law, the right to act as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, committee of estates of lunatics, or in any other fiduciary capacity...
Page 26 - ... 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; and by obtaining, issuing, and circulating notes according to the provisions of this Title.
Page 115 - To establish from time to time, subject to review and determination of the Federal Reserve Board, rates of discount to be charged by the Federal reserve bank for each class of paper, which shall be fixed with a view of accommodating commerce and business...
Page 26 - Fifth. To elect or appoint directors, and by its board of directors to appoint a president, vice-president, cashier, and other officers, define their duties, require bonds of them and fix the penalty thereof, dismiss such officers or any of them at pleasure, and appoint others to fill their places.
Page 129 - 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 114 - Fourth. Liabilities to the stockholders of the association for dividends and reserve profits. Fifth. Liabilities incurred under the provisions of the Federal Reserve Act. The rediscount by any Federal reserve bank of any bills receivable and of domestic and foreign bills of exchange, and of acceptances authorized by this Act, shall be subject to such restrictions, limitations, and regulations as may be imposed by the Federal Reserve Board.
Page 70 - 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 115 - States, and bills, notes, revenue bonds, and warrants with a maturity from date of purchase of not exceeding six months, issued in anticipation of the collection of taxes or in anticipation of the receipt of assured revenues by any State, county, district, political subdivision, or municipality in the continental United States, including irrigation, drainage and reclamation districts, such purchases to be made in accordance with rules and regulations prescribed by the Federal Reserve Board; 14e.