Annual Report of the Commissioner of the Banking Department of the State of Michigan

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Office of the Commissioner of the State Banking Department, 1906 - Banks and banking
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Page xv - ... part of the amount of the capital and surplus of such bank; 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: Provided...
Page xv - That 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 one-tenth part of the amount of the capital stock of such association actually paid in...
Page xiv - Lansing, Mich., May 23, 1903. Hon. George W. Moore, Commissioner of Banking, Lansing, Michigan : Dear Sir — I am in receipt of your communication of the 19th inst. referring to the General Banking Law of this State, and requesting my opinion upon the following questions : "First, How much money may the directors of a bank loan to any person, or company, or corporation, or firm, by a two-thirds vote of its board of directors?
Page xv - ... per centum of the unimpaired capital and surplus of said bank ; but this restriction shall not apply to the discount of bills of exchange drawn in good faith against actually existing values.
Page xv - That the discount of bona fide bills of exchange drawn against actually existing values, and the discount of commercial or business paper actually owned by the person or persons, corporation, or firm negotiating the same, shall not be considered as money borrowed.
Page xv - The total liabilities to any bank of any person or of any company, corporation or firm for moneys advanced, including in the liabilities of the company or firm, the liabilities of the several members thereof...
Page 301 - Due from state banks and bankers Due from approved reserve agents Checks and other cash Items Exchanges for clearing house...
Page xv - Sculy, a regulation to prevent these associations from splitting on the rock which has ruined so many banks, to wit, that of lending too much of their capital to one person or firm. The intention being to protect the association and its stockholders and creditors from unwise banking, wo cannot suppose it was meant to injure them by forbidding recovery of the injudicious loans.
Page 343 - Certified checks Cashier's checks outstanding United States deposits Deposits of US disbursing oificers Notes and bills rediscounted Bills payable ... Liabilities other than those above stated Totals . Report of Feb.
Page 306 - U. 9. bonds to secure circulation US bonds to secure US deposits.... US bonds on hand Premiums on US bonds Stocks, securities, etc Banking house, furniture and fixtures.. Other real estate and mortgages owned.

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