Annual Report of the Commissioner of the Banking Department of the State of Michigan |
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00 Furniture 00 Gold coin 00 Nickels 00 Other real 00 Savings department 00 Silver coin 00 Surplus fund 00 Undivided profits Assistant Cashier banks and bankers banks in reserve bonds to secure Capital stock paid cash items Cashier's checks outstanding certificates of deposit Certified checks clearing house Commercial certificates Commercial deposits subject deposits Other bonds Dividends unpaid Due from banks Due from U. S. Due to banks exceeding earnings Exchanges for clearing Furniture and fixtures interest and taxes Items in transit less losses Liabilities Loans and discounts monies on deposit mortgages and securities National bank currency National bank notes Nickels and cents Notes and bills Overdrafts real estate Report of Apr Report of Feb Report of June Report of Nov reserve cities Reserved for taxes Resources Savings certificates secure U. S. deposits subject to check U. S. and National U. S. treasurer United States bonds Vice President
Popular passages
Page xxxi - 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 xxx - 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 10 per centum of the amount of the capital stock of such association, actually paid in...
Page lxi - ... with a view to prevent the application of its assets in the manner prescribed by this act, or with a view to the preference of one creditor to another, except in payment of its circulating notes, shall be utterly null and void.
Page lxi - Upon notes or bonds secured by mortgage lien upon unencumbered real estate worth at least double the amount loaned; the remainder of such deposits may be invested in notes, bills or other evidences of debt, the payment of which is secured by the deposit with the bank, of collateral security consisting of personal property or securities of known marketable value, worth ten per cent more than the amount so loaned and interest for the time of the loan...
Page lxiii - An Act authorizing the formation of partnership associations in which the capital subscribed shall alone be responsible for the debts of the association, except under certain circumstances...
Page lxx - 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 xxx - ... 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 lxxvi - Saturday afternoons herein designated as half holidays, nor to prevent any bank from keeping its doors open or transacting its business on any of the said Saturday afternoons, if by vote of its directors it elects to do so...
Page lviii - ... persons holding stock as executors, administrators, guardians or trustees, and persons holding stock as collateral security, shall not be personally liable as stockholders, but the assets and funds in their hands constituting the trust shall be liable to the same extent as the testator, intestate, ward or person interested in such trust funds would be, if living or competent to act; and the person pledging such stock shall be deemed the stockholder and liable under this section.
Page lxix - Act shall have power in and by its corporate name to take, receive and hold, and repay, reconvey, and dispose of any effects and property, both real and personal. which may be granted, committed, transferred or conveyed to it, with its consent, upon any terms...