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

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Page xv - ... 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 - 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 - Drafts may be bona fide bills of exchange drawn upon actual existing values within the meaning of the statute, though not accompanied by specific bills of lading in each case. It is sufficient if they are drawn against property previously consigned and existing either in its original form or in the shape of proceeds of sales in the hands of the consignees.
Page 372 - Liabilities. Capital stock paid in .... Surplus fund Undivided profits less expenses and taxes paid . . . National bank notes outstanding. . Due to ol her National banks . . Due to State banks and bankers Individual deposits subject to check Demand certificates of deposit.
Page 337 - 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 Due from National banks inot reserve agentsl..
Page xv - 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 376 - Due from approved reserve agents Checks and other cash Items...
Page 416 - Taxes on real estate All other taxes, licenses and insurance department fees Legal expenses Advertising Printing and stationery Postage...
Page 412 - Gross premiums, less reinsurance, upon all unexpired risks running one year or less from date of policy, $4,533,873.53; unearned premiums.
Page 412 - Gross premiums (less re-insurance) upon all unexpired risks running one year or less from date of policy, $1,616,388.12; unearned premiums.

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