 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.  Wisconsin Session Laws - Page 373by Wisconsin - 1935Full view - About this book
 | Michigan - 1927 - 1090 pages
...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 conproviso. sidered as money borrowed : Provided, however, That the foregoing limitation shall not... | |
 | John Martin Chapman, Ray Bert Westerfield - 1927 - 798 pages
...one-tenth part of the amount of the capital stock of such association actually paid in. 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... | |
 | United States - 1927 - 612 pages
...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. (Dec. 23, 1913, c. 6, ยง 13, 38 Stat. 263; Mar. 3, 1915, c. 93, 38 Stat. 958; Sept. 7, 1916, c. 461,... | |
 | New York (State). Attorney General's Office - 1912 - 778 pages
...position that in order to come within the exception to Section 5200 USRS, relative to ' the discount of commercial or business paper actually owned by the person negotiating the same ' the paper must have been given in payment for some commodity and bear the endorsement of an actual... | |
 | United States. Federal Reserve Board - 1928 - 808 pages
...Corporation, however, have now been retired. said bank; but this restriction shall not apply to the discount of bills of exchange drawn in good faith against actually existing values. Any Federal reserve bank may discount acceptances of the kinds hereinafter described, which have a... | |
 | Robert Gordon Rodkey - 1928 - 378 pages
...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 Federal reserve bank may discount acceptances of the kinds hereinafter described, which have a... | |
 | New York (State). Attorney General's Office - 1912 - 768 pages
...the difference between the face value of the notes and the agreed commission or discount are not " commercial or business paper actually owned by the person negotiating the same " contained in section 27 of the Banking Law. INQUIRY. Whether section 27 of the Banking Law permits... | |
 | William MacDonald - 1926 - 742 pages
...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. . . . SEC. 14. Any Federal reserve bank may, under rules and regulations prescribed by the Federal... | |
 | 1930 - 1366 pages
...their capital and surplus, with the one exception that this restriction does not apply to the discount of bills of exchange drawn in good faith against actually existing values ; and it causes much confusion and dissatisfaction when the Federal reserve banks decline to rediscount as... | |
 | Massachusetts. Attorney General's Office - 1907 - 736 pages
...part of such amount of the capital stock of this corporation as is actually paid up. 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... | |
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