World's Congress of Bankers and Financiers: Comprising Addresses Upon Selected Financial Subjects: And Also a Series of Papers on Banking in the Several States and Territories, Prepared by Delegates Specially Appointed by the Governors
Rand, McNally & Company, 1893 - Banks and banking - 615 pages
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adopted amount association bankers bill bonds borrower bullion called capital cause cent charter circulation coin coinage condition Congress continued corporation currency debt demand deposits directors dollars England equal established exchange existence fact fifty five four France fund give gold Government hand held hundred Illinois increase institutions interest issue labor land legislation Legislature less limited loans meet metal million Missouri national banks never notes organized paid passed payment period person population present profits prosperity purchase question ratio received reserve result savings shares silver specie standard thing thousand tion trade Treasury twenty United volume wealth whole worth York
Page 240 - No association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith...
Page 235 - That associations for carrying on the business of banking may be formed by any number of persons, not less in any case than five, who shall enter into articles of association, which shall specify in general terms the object for which the association is formed, and may contain any other provisions, not inconsistent with the provisions of this act, which the association may see fit to adopt for the regulation of the business of the association and the conduct of its affairs...
Page 244 - ... in the hands of such executor, administrator, guardian or trustee, shall be liable in like manner, and to the same extent as the testator or intestate. or the ward or person interested in such trust fund would have been, if he had been living and competent to act, and held the same stock in his own name.
Page 241 - That all associations under this act, when designated for that purpose by the Secretary of the Treasury, shall be depositaries of public money, except receipts from customs, under such regulations as may be prescribed by the Secretary ; and they may also be employed as financial agents of the government; and they shall perform all such reasonable duties, as depositaries of public moneys and financial agents of the government, as may be required of them.
Page 442 - Every stockholder in a banking corporation or institution shall be individually responsible and liable to its creditors, over and above the amount of stock by him or her held, to an amount equal to his or her respective shares so held, for all its liabilities accruing while he or she remains such stockholder.
Page 237 - Title, and that he is the owner in good faith, and in his own right, of the number of shares of stock required by this...
Page 243 - Such violation shall, however, be determined and adjudged by a proper circuit, district or territorial court of the United States, in a suit brought for that purpose by the Comptroller of the Currency, in his own name, before the association shall be declared dissolved.
Page 240 - If losses have at any time been sustained by any such association equal to or exceeding its undivided profits then on hand, no dividend shall be made ; and no dividend shall ever be made by any association while it continues its banking operations, to an amount greater than its net profits then on hand, deducting therefrom its losses and bad debts.
Page 239 - Such as shall be conveyed to it in satisfaction of debts previously contracted in the course of its dealings. Fourth. Such as it shall purchase at sales under judgments, decrees or mortgages held by the association, or shall purchase to secure debts due to it.
Page 380 - ... shall, for all purposes whatever as regards the presenting for payment or acceptance, and of the protesting and giving notice of the dishonor of" bills of exchange, bank checks and promissory notes, made after the passage of this act, be treated and considered as the first day of the week, commonly called Sunday...