Annual Report of the Commissioner of the Banking Department of the State of Michigan |
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Common terms and phrases
00 Furniture 00 Gold coin 00 Other real 00 Savings department 00 Silver coin 00 Surplus fund 00 Undivided profits Assistant Cashier banks and bankers banks in reserve Capital stock paid cash items Cashier's checks outstanding certificates of deposit Certified checks clearing house Commercial certificates Commercial deposits subject Dividends unpaid Due from banks Due to banks exceeding earnings Exchanges for clearing Federal Reserve banks Furniture and fixtures interest and taxes Items in transit June 23 less losses Liabilities Loans and discounts ment monies on deposit mortgages and securities National bank currency Nickels and cents Notes and bills Overdrafts pledged to secure Postal savings deposits real estate Report of Dec Report of June Report of Mar Report of Sept repurchase agree reserve cities Reserve for taxes Resources Savings Bank Savings certificates sold under repurchase subject to check U. S. and National U. S. bonds pledged United States bonds Vice President
Popular passages
Page lxxv - A person placing his signature upon an instrument otherwise than as maker, drawer or acceptor, is deemed to be an indorser, unless he clearly indicates by appropriate words his intention to be bound in some other capacity.
Page lxvii - An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes.
Page xxiii - 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 xxxiv - A public office is the right, authority and duty, created and conferred by law, by which for a given period, either fixed by law or enduring at the pleasure of the creating power, an individual is invested with some portion of the sovereign functions of the government, to be exercised by him for the benefit of the public.
Page lxix - It is settled that the United States statutes relative to national banks constitute the measure of the authority of such corporations, and that they cannot rightfully exercise any powers except those expressly granted, or which are incidental to carrying on the business for which they are established.
Page lxviii - A bank applying for stock in a Federal reserve bank at any time after the organization thereof must subscribe for an amount of the capital stock of the Federal reserve bank equal to six per centum of the paid-up capital stock and surplus of said applicant bank, paying therefor its par value plus one-half of one per centum a month from the period of the last dividend.
Page xli - person' may extend and be applied to bodies politic and corporate as well as to individuals.
Page lxxx - 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 lviii - Sixth. To prescribe by its board of directors, by-laws not inconsistent with law, regulating the manner in which its general business may be conducted, and the privileges granted to it by law may be exercised and enjoyed. Seventh. To exercise by its board of directors, or duly authorized officers or agents, all powers specifically granted by the provisions...
Page lxxii - A national banking association may purchase, hold, and convey real estate for the following purposes, and for no others : First, such as may be necessary for its immediate accommodation in the transaction of its business. Second, such as shall be mortgaged to it in good faith by way of security for debts previously contracted.