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" to destroy the force and effect of the limitation itself. The exceptions to which I refer relate to the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper, actually owned... "
Annual Report of the Commissioner of the Banking Department of the State of ... - Page xxix
by Michigan. Banking Division - 1922
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Laws of the United States Concerning Money, Banking, and Loans, 1778-1909

United States - 1910 - 886 pages
...actuil ^. v P a ^ ^ n: Provided, That the discount of be included, bona 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 as money...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1911 - 686 pages
...limitation, and not to construe the provision relating to the exceptions therefrom in such a way as to destroy the force and effect of the limitation...values, and the discount of commercial or business pajK 1 !- actually owned by the pel-son negotiating the same, and which, in my opinion, should be strictly...
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The National-bank Act, as Amended: With Other Laws Relating to National Banks

United States - 1911 - 184 pages
...liabilities shall in no event exceed thirty per centum of the capital stock of the association. But the discount of bills of exchange drawn in good faith...discount of commercial or business paper actually owned by the person negotiating the same shall not be considered as money borrowed. ASSOCIATIONS MUST NOT...
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Money and Banking: Illustrated by American History

Horace White - 1911 - 576 pages
...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. Any member bank may accept drafts or bills of exchange drawn upon it and growing out of transactions...
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Money and Banking: Illustrated by American History

Horace White - 1911 - 576 pages
...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. Any member bank may accept drafts or bills of exchange drawn upon it and growing out of transactions...
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Wisconsin Session Laws

Wisconsin - 1935 - 1310 pages
...limitation of thirty per cent in addition to the limitation hereinbefore stated, and the discounting of bills of exchange drawn in good faith against actually existing values, and the discounting of commercial or business paper actually owned by the person negotiating the same, shall...
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State Banks and Trust Companies Since the Passage of the ..., Issue 5860

George Ernest Barnett - 1911 - 406 pages
...integrity of the bank." * In New York the loans to any person, firm, or corporation, including discounts of bills of exchange drawn in good faith against actually existing values and commercial or business paper actually owned by the person negotiating the same, must not exceed 25...
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House Bill 93: Twenty-sixth Biennial Session, 1911. Relating to Banks and ...

Oregon. Legislative Assembly - 1911 - 42 pages
...thereof; provided, however, that the discount of bills of exchange drawn in good faith against actual existing values and the discount of commercial or business paper actually owned by the person or firm negotiating the same shall not be restricted to or considered as coming within...
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General Laws of the State of Idaho ...

Idaho - 1911 - 942 pages
...and surplus of such bank or company; but the discount of exchange drawn in good faith against actual existing values, and the discount of commercial or business paper actually owned by the persons negotiating the same, shall not be considered as money borrowed; Provided, however:...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1913 - 716 pages
...limitation, and not to construe the provision relating to the exceptions therefrom in such a way as to destroy the force and effect of the limitation...discount of commercial or business paper actually owned by the person negotiating the same. and which, in my opinion, should be strictly construed and should...
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