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" 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. "
Annual Report - Page xvii
by Michigan. Banking Division - 1906
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National Bank Cases: Containing All Decisions of Both the Federal and State ...

Isaac Grant Thompson - National banks (U.S.) - 1878 - 989 pages
...actually paid in : Provided, that the bonafide bill a 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." Allen...
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Laws of the United States Relating to Loans and the Currency, Since 1860

United States - Banking law - 1878 - 308 pages
...tide bills of excounts not to bo . . . ,,i. included. 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 l>e considered as money borrowed. Rate...
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Acts of the State of Ohio

Ohio - Session laws - 1879 - 368 pages
...provided, that the discount of fxma 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 money borrowed. SEC....
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A Memoir of Benjamin Robbins Curtis, LL. D.: Memoir

Benjamin Robbins Curtis - Judges - 1879 - 520 pages
...PROVIDED, that the discount of bona fide bills of exchange drawn against actually existing values, or the discount of commercial or business paper actually owned by the person or persons, corporations, or firms negotiating the same, shall not be considered ns money borrowed."...
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National Bank Cases: Containing All Decisions of Both the Federal ..., Volume 2

Irving Browne - National banks (United States). - 1880
...paid in. But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually...the same, shall not be considered as money borrowed. Thomp. NB Cas. 150, 169, 175, 396, 488, 888, 869 ; ante, 400. Associations not to loan upon, or purchase...
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The Southern Law Review: And Chart of the Southern Law and ..., Volume 6

Law - 1881
...capital stock paid in. But bills discounted bona fide against existing values, and discount of commercial paper actually owned by the person negotiating the same, shall not be considered as money loaned. Under this section it has generally been held that when such loans have actually been made,...
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The Southern Law Review, Volume 6

Law - 1881
...capital stock paid in. But bills discounted bona fide against existing values, and discount of commercial paper actually owned by the person negotiating the same, shall not be considered as money loaned. Under this section it has generally been held that when such loans have actually been made,...
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Weekly Notes of Cases Argued and Determined in the Supreme Court ..., Volume 10

Law reports, digests, etc - 1881 - 628 pages
...association; provided, that the discount of bonafide 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 requesting the same shall not be considered as money borrowed.' Contrary...
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Executive Documents, Minnesota ..., Volume 2

Minnesota - 1883
...The discount of bills of exchange drawn in good faith against actually existing values." Second — " The discount of commercial or business paper actually owned by the person negotiating the same." The first of these exceptions needs no elucidation. The meaning of "bills of exchange" is well known...
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The Pacific Reporter, Volume 26

Law reports, digests, etc - 1891 - 1168 pages
...exchange drawn in good faith against actually existing values, and the discount of business or commercial paper actually owned by the person negotiating the same, shall not be considered as money borrowed." This statute has been construed by the federal courts, and their construction is binding on us, for...
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