Operation of the National and Federal Reserve Banking Systems, Hearings Before ..., 72:1 .... |
From inside the book
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Page 18
... cent of the stock . That would mean that in many cities and in many towns of this country where influential citizens are stockholders of banks and who in the total as stockholders own more than 50 per cent of purely busi- ness ...
... cent of the stock . That would mean that in many cities and in many towns of this country where influential citizens are stockholders of banks and who in the total as stockholders own more than 50 per cent of purely busi- ness ...
Page 22
... cent in New York , which is the lowest of any discount rate , for it is 412 per cent in most other cities , it is not possible certainly to make money . Certainly it is not possible to invest for the purpose of doing so , and it is not ...
... cent in New York , which is the lowest of any discount rate , for it is 412 per cent in most other cities , it is not possible certainly to make money . Certainly it is not possible to invest for the purpose of doing so , and it is not ...
Page 35
... cent for short - term credit because money rates of the country were so high . I can not recall exactly but the Federal reserve rates in New York were frequently 6 per cent , and money at times in New York reached 20 to 30 per cent on ...
... cent for short - term credit because money rates of the country were so high . I can not recall exactly but the Federal reserve rates in New York were frequently 6 per cent , and money at times in New York reached 20 to 30 per cent on ...
Page 41
... cent of them in it . Did they only handle 25 per cent of the business ? Mr. POPE . I can not tell you . Senator BROOKHART . Let us only put on them the proportion of the business they handled . If they put out 25 per cent of it , then ...
... cent of them in it . Did they only handle 25 per cent of the business ? Mr. POPE . I can not tell you . Senator BROOKHART . Let us only put on them the proportion of the business they handled . If they put out 25 per cent of it , then ...
Page 44
... cent of a member bank's capital and surplus . It thus repeals all exceptions in section 5200 of the Revised Statutes , which section is particularly severe , and I only bring this to your attention , par- ticularly severe on bankers ...
... cent of a member bank's capital and surplus . It thus repeals all exceptions in section 5200 of the Revised Statutes , which section is particularly severe , and I only bring this to your attention , par- ticularly severe on bankers ...
Common terms and phrases
affiliate ALLENDOERFER amended amount assets association bankers banking system BARKLEY believe bill bonds borrow branch banking BRUCE BURKE capital stock cent centum CHAIRMAN collateral loans collateral security commercial paper committee Comptroller Currency deflation demand deposits depositors directors EDWARDS eligible paper Federal reserve act Federal reserve bank Federal Reserve Board Federal reserve system funds going Government HAAS HAWES HECHT holding company interest investment securities JOHNSTON KENT legislation limitations liquidating corporation MCQUAID mean member banks ment MEYER MILLS mortgages national bank act national banks obligations operations PAYNE percentage POPE provision purchase purpose question real estate real-estate loans Reconstruction Finance Corporation rediscount regulations restrictions section 11 Senator BROOKHART Senator BULKLEY Senator COUZENS Senator FLETCHER Senator GLASS interposing Senator GORE Senator MORRISON Senator TOWNSEND Senator WALCOTT speculative statement thereof thing tion to-day trust United WAKEFIELD WILLIS WOLFE York
Popular passages
Page 11 - 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; 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 411 - That in all elections of directors, and in deciding all questions at meetings of shareholders, each shareholder shall be entitled to one vote on each share of stock held by him. Shareholders may vote by proxies duly authorized in writing ; but no officer, clerk, teller, or book-keeper of such association shall act as proxy; and no shareholder whose liability is past due and unpaid shall be allowed to vote.
Page 180 - Act contained shall be construed to prohibit such notes, drafts, and bills of exchange, secured by staple agricultural products, or other goods, wares, or merchandise from being 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, except bonds and notes of the Government of the United States.
Page 355 - ... for the speculative carrying of or trading in securities, real estate, or commodities, or for any other purpose inconsistent with the maintenance of sound credit conditions...
Page 6 - State in which said bank is to be located, the amount of capital stock and the number of shares into which the same is divided, the name and place of doing business of each bank executing such certificate, and of all banks which have subscribed to the capital stock of...
Page 404 - The Corporation, including its franchise, its capital, reserves, and surplus, and its income shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority...
Page 367 - The Secretary of the Treasury is hereby authorized to direct and use the Secret Service Division of the Treasury Department to detect, arrest, and deliver into custody of the United States marshal having jurisdiction any person committing any of the offenses punishable under this section.
Page 16 - 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 383 - ... and in deciding all other questions at meetings of shareholders, each shareholder shall be entitled to one vote on each share of stock held by him...
Page 377 - Except as thus provided, no member bank shall keep on deposit with any nonmember bank a sum in excess of ten per centum of its own paid-up capital and surplus. No member bank shall act as the medium or agent of a nonmember bank in applying for or receiving discounts from a Federal reserve bank under the provisions of this Act except by permission of the Federal Reserve Board.