The Federal Reserve Act of 1913: History and DigestNational bank news, 1914 - 118 páginas |
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Términos y frases comunes
amount of capital application appointed authorized bank examined bills of exchange board of directors capital and surplus capital stock cent central reserve cities centum per annum chairman circulating notes Comptroller Congress Currency deemed Democratic director of class discount dividend drafts employee eral reserve bank establish Federal Reserve Act Federal reserve agent Federal reserve bank Federal Reserve Board Federal reserve district Federal reserve notes five per centum foreign branches funds held hereinbefore House hundred and eight Knickerbocker Trust Company lawful money liability member bank months 18 months months 36 national banking association National Monetary Commission nineteen hundred organization certificate organization committee outstanding paid par value payable prescribed President purchase receive redemption rediscount Reserve Bank Organization Revised Statutes Secretary Section fifty-one hundred Senate serve bank six per centum stockholders subscription thereafter thereof thirtieth three per centum tion Treasury trust company vaults vote
Pasajes populares
Página 63 - Federal reserve bank may discount notes, drafts, and bills of exchange arising out of actual commercial transactions; that is, notes, drafts, and bills of exchange issued or drawn for agricultural, industrial, or commercial purposes, or the proceeds of which have been used, or are to be used, for such purposes...
Página 96 - That if any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act,, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
Página 91 - The shareholders of every national banking association shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein, at the par value thereof, in addition to the amount invested in such shares...
Página 73 - In order to furnish suitable notes for circulation as Federal Reserve notes, the Comptroller of the Currency shall, under the direction of the Secretary of the Treasury...
Página 47 - Should a Federal reserve bank be dissolved or go into liquidation, any surplus remaining, after the payment of all debts, dividend requirements as hereinbefore provided, and the par value of the stock, shall be paid to and become the property of the United States and shall be similarly applied. Federal reserve banks, including the capital stock and surplus therein, and the income derived therefrom shall be exempt from Federal, State, and local taxation, except taxes upon real estate.
Página 75 - ... discretion of the Secretary for the purposes of this Act, and should the appropriations heretofore made be insufficient to meet the requirements of this Act in addition to circulating notes provided for by existing law, the Secretary is hereby authorized to use so much of any funds in the Treasury not otherwise appropriated for the purpose of furnishing the notes aforesaid : Provided, however, That nothing in this section contained shall be construed as exempting national banks or Federal reserve...
Página 38 - Said board of directors shall administer the affairs of said bank fairly and impartially and without discrimination in favor of or against any member bank or banks and may, subject to the provisions of law and the orders of the Federal Reserve Board, extend to each member bank such discounts, advancements, and accommodations as may be safely and reasonably made with due regard for the claims and demands of other member banks, the maintenance of sound credit conditions, and the accommodation of commerce,...
Página 100 - To grant by special permit to national banks applying therefor, when not in contravention of State or local law, the right to act as trustee, executor, administrator, or registrar of stocks and bonds under such rules and regulations as the said board may prescribe.
Página 93 - Every such national banking association shall conduct the accounts of each foreign branch independently of the accounts of other foreign branches established by it and of its home office, and shall at the end of each fiscal period transfer to its general ledger the profit or loss accrued at each branch as a separate item.
Página 49 - A majority of the directors, after executing the articles of association and organization certificate, shall have power to execute all other papers, and to do whatever may be required to make its organization perfect and complete as a national association.