Consolidation of National Banking Associations, Hearing Before a Subcommittee of ..., 69-1 on S. 1782 and H.R. 2 ..., February 16, 17, 18, and 24, 19261926 - 372 pages |
From inside the book
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Page 17
... situation explains the general purpose of this bill . While the bill has been subjected to a very thorough study by bankers , Government officials and legislatures and has been recom- mended by the official of the Government upon whom ...
... situation explains the general purpose of this bill . While the bill has been subjected to a very thorough study by bankers , Government officials and legislatures and has been recom- mended by the official of the Government upon whom ...
Page 18
... situation . There is enough in- formation before Congress to act intelligently upon this bill . There will be time enough for an investigation after the bill becomes a law . What the patient needs now is a restorative . We do not want ...
... situation . There is enough in- formation before Congress to act intelligently upon this bill . There will be time enough for an investigation after the bill becomes a law . What the patient needs now is a restorative . We do not want ...
Page 20
... situation . This language , however , proved to be unsatisfactory to Mr. Sims . Upon consideration of the bill in committee , this section was stricken out by a committee amendment , and the House sustained the committee and declined to ...
... situation . This language , however , proved to be unsatisfactory to Mr. Sims . Upon consideration of the bill in committee , this section was stricken out by a committee amendment , and the House sustained the committee and declined to ...
Page 26
... situation be cured by a simple amendment to the national banking act , giving the national banks the same rights that are possessed by State banks with respect to branches in those States which by law or usage or tolerance , permit ...
... situation be cured by a simple amendment to the national banking act , giving the national banks the same rights that are possessed by State banks with respect to branches in those States which by law or usage or tolerance , permit ...
Page 31
... situation here that we want to handle wisely , and we of the Senate and members of the House Committee can confer at our leisure in regard to the various features of this bill , and that we shall not have , except for a limited time ...
... situation here that we want to handle wisely , and we of the Senate and members of the House Committee can confer at our leisure in regard to the various features of this bill , and that we shall not have , except for a limited time ...
Common terms and phrases
American Bankers American Bankers Association amount applying bank approval assets Average resources bank failures Bank of Italy banks and trust branch banking system capital and surplus capital stock cent centum CHAIRMAN charter committee Comptroller conditions of membership Congress consolidation corporation depositors Doctor WILLIS DRUM establish branches existing fact failed member Federal reserve act Federal reserve bank Federal Reserve Board Federal reserve system FITZGERALD gentlemen HINSCH institution legislation liabilities limits loans MACDONNELL McFadden bill member banks member State banks municipality national bank act national banking association national banking system operation organized powers privilege provisions question RATHJE read as follows real estate regulations resources of failed Revised Statutes Savings Bank savings deposits section 9 Senator EDGE Senator GLASS small banks South Dakota state-wide branch banking statement thereof tion total number trust companies unit banks WHIPPLE
Popular passages
Page 49 - The total liabilities to any association, of any person, or of any company, corporation, or firm for money borrowed, including in the liabilities of a company or firm the liabilities of the several members thereof, shall at no time exceed onetenth part of the amount of the capital stock of such association actually paid in.
Page 160 - ... 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 156 - 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 161 - Any such association may continue hereafter as heretofore to receive time and savings deposits and to pay interest on the same, but the rate of interest which such association may pay upon such time deposits or upon savings or other deposits shall not exceed the maximum rate authorized by law to be paid upon such deposits by State banks or trust companies organized under the laws of the State in which such association is located.
Page 2 - The total obligations to any national banking association of any person, copartnership, association, or corporation shall at no time exceed 10 per centum of the amount of the capital stock of such association actually paid in and unimpaired and 10 per centum of its unimpaired surplus fund. The term 'obligations...
Page 10 - Seventh. To exercise by its board of directors, or duly authorized officers or agents, all powers specifically granted by the provisions of this Act and such incidental powers as shall be necessary to carry on the business of banking within the limitations prescribed by this Act.
Page 10 - The limitations and restrictions herein contained as to dealing in, underwriting and purchasing for its own account, investment securities shall not apply to obligations of the United States, or general obligations of any State or of any political subdivision thereof, or obligations issued under authority of the Federal Farm Loan Act, as amended, or issued by the Federal Home Loan Banks or the Home Owners...
Page 12 - To establish branches in foreign countries or dependencies or insular possessions of the United States...
Page 156 - That section twenty-two hundred and ninety-one and section twenty-two hundred and ninety-seven of the Revised Statutes of the United States be amended to read as follows: "Sec.
Page 157 - ... application to the Federal Reserve Board, under such rules and regulations as it may prescribe, for the right to subscribe to the stock of the Federal reserve bank organized within the District in which the applying bank is located. Such application shall be for the same amount of stock that the applying bank would be required to subscribe to as a national bank. The Federal Reserve Board, subject to the provisions of this Act and to such conditions as it may prescribe pursuant thereto may permit...