Annual Report of the Commissioner of the Banking Department of the State of Michigan, Volume 2
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00 Silver coin 00 Surplus fund 00 Totals 00 Undivided profits amount associations authorized Banking Department Banking house banks and bankers banks in reserve Bills payable bills re-discounted bonds and mortgages Capital stock paid cash items Cashier's checks outstanding cent Certificates of deposit Certified checks Chas Checks and cash clearing house clerks Commissioner corporations County Savings Bank Current expenses Detroit Dividends unpaid Due from banks Due to banks examination Exchanges for clearing expenses and taxes Furniture and fixtures Gold coin hundred incorporation Interest paid John July 18 Liabilities Loans and discounts Michigan national bank notes Nickels and pennies Notes and bills officers Organized Overdrafts person real estate receiver Report of Dec Report of July Report of October reserve cities Resources Savings deposits stockholders subject to check taxes paid thereof Treasurer U. S. and national Vice President
Page 133 - No association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith...
Page 147 - Whenever a vote is taken to go into liquidation it shall be the duty of the board of directors to cause notice of this fact to be certified, under the seal of the...
Page 142 - All debts due to any association, on which interest is past due and unpaid for a period of six months, unless the same are well secured, and in process of collection, shall be considered bad debts within the meaning of this section.
Page 147 - 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 148 - ... and every person who with like intent aids or abets any officer, clerk, or agent in any violation of this section, shall be deemed guilty of a misdemeanor, and shall be imprisoned not less than five years nor more than ten.
Page 148 - From time to time, after full provision has been first made for refunding to the United States any deficiency in redeeming the notes of such association, the Comptroller shall make a ratable dividend of the money so paid over to him by such receiver on all such claims as may have been proved to his satisfaction or adjudicated in a court of competent jurisdiction...
Page 146 - Persons holding stock as executors, administrators, guardians, or trustees shall not be personally subject to any liabilities as stockholders, but the estates and funds in their hands shall be liable in like manner and to the same extent as the testator, intestate, ward, or person interested in such trust funds would be if living and competent to act and hold the stock in his own name.
Page 137 - In addition to the reports required by the preceding section, each association shall report to the Comptroller of the Currency, within ten days after declaring any dividend, the amount of such dividend, and the amount of net earnings in excess of such dividend.
Page 148 - ... draws any order or bill of exchange, makes any acceptance, assigns any note, bond, draft, bill of exchange, mortgage, judgment, or decree; or who makes any false entry in any book, report...
Page 145 - ... with an abstract of the whole amount of capital returned by them, the whole amount of their debts and liabilities...