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

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Page xvii - 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 xvii - 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 xvii - The object of this provision of the statute was to guard National banks from the hazard of speculative loans, but it contemplated and permitted to an unlimited amount the discount of paper used and required in facilitating the transfer of property and money in the transaction of the legitimate business of the country.
Page 344 - US bonds Stocks, securities, etc ... Banking house, furniture and fixtures Other real estate and mortgages owned Due from National banks (not reserve agents). Due from State banks and bankers Due from approved reserve agents...
Page xvii - 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...
Page 389 - . .. Due to State banks and bankers Dividends unpaid .. .. Individual deposits subject to check...
Page 373 - Liabilities. Capital stock paid in Surplus fund Undivided profits less expenses and taxes paid National bank notes outstanding.
Page xvii - Scully, 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, we cannot suppose it was meant to injure them by forbidding recovery of the injudicious loans.
Page 341 - National bank notes outstanding .... Due to other National banks ". Due to State banks and bankers Dividends unpaid . Individual deposits subject to...
Page 323 - Due from state banks and bankers Due from approved reserve agents Checks and other cash Items Exchanges for clearing house...

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