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" 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. "
Public and Local Acts of the Legislature of the State of Michigan - Page 11
by Michigan - 1891
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Materials for the Study of Banking

James Dysart Magee - Banks and banking - 1923 - 769 pages
...these without regard to the 10 per cent limitation, under the terms of the statute, which provides that the discount of "bills of exchange drawn in good faith...paper actually owned by the person negotiating the sale" shall not be considered as money borrowed, and this procedure would also have the advantage of...
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National Banking Under the Federal Reserve System

First National City Bank of New York - Federal Reserve banks - 1923 - 152 pages
...trust company the discount of bills of exchange drawn in good faith against actually existing value and the discount of commercial or business paper actually...owned by the person negotiating the same shall not be included. Any Federal Reserve Bank Bank may make advances to its member banks on their promissory notes...
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Making Use of a Bank

James Anderson Fitzgerald - Banks and banking - 1923 - 371 pages
...twenty per cent of its paid-in capital stock and surplus. But the discount of bills of exchange drawn against actually existing values, and the discount...commercial or business paper actually owned by the person, company, corporation, or firm negotiating it, and the purchase or discount of any note or notes secured...
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International Trade Finance

George William Edwards - Credit - 1924 - 495 pages
...capital and surplus, except with the approval of the Federal Reserve Board: Provided, however, That the discount of bills of exchange drawn in good faith...the same shall not be considered as money borrowed within the meaning of this paragraph. The liability of a customer on account of an acceptance made...
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Digest of Rulings of the Federal Reserve Board (1914-1923, Inclusive): With ...

Board of Governors of the Federal Reserve System (U.S.) - Board of Governors of the Federal Reserve System (U.S.) - 1924 - 407 pages
...capital and surplus, except with the approval of the Federal Reserve Board: Provided, however, That the discount of bills of exchange drawn in good faith...the same shall not be considered as money borrowed within the meaning of this paragraph. The liability of a customer on account of an acceptance made...
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The Discount Policy of the Federal Reserve System

Benjamin Haggott Beckhart - Banks and banking - 1924 - 604 pages
...bank or trust company, but the discount of bills of exchange drawn against actually existing value and the discount of commercial or business paper actually...person negotiating the same shall not be considered as borrowed money within the meaning of this section. The Federal reserve bank, as a condition of the...
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The Federal Reporter, Volume 241

Law reports, digests, etc - 1917
...time exceed 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...same, shall not be considered as money borrowed." "Sec. 5239. If the directors of any national banking association shall knowingly violate, or knowingly...
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Banking and Business

Henry Parker Willis, George William Edwards - Banks and banking - 1925 - 565 pages
...except with the approval of the Federal Reserve Board. This limitation doe? not apply in the case of "the discount of bills of exchange drawn in good faith...actually owned by the person negotiating the same." Although this statute has been in force since 1919, it has remained practically inoperative. The First...
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Wisconsin Session Laws, 1925

Wisconsin - Session laws - 1925
...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 same, shall not be considered as money borrowed * * *. 221.33 (1) No bank or bank officer shall give preference to any depositor or creditor by pledging...
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The Federal Reporter: Cases Argued and Determined in the ..., Volumes 241-242

Law reports, digests, etc - 1917
...bills of exchange drawn ia good faith against actually existing values, and the discount of com'mer<:al or business paper actually owned by the person negotiating...same, shall not be considered as money borrowed." "Sec. 5239. If the directors of any national banking association shall knowingly violate, or knowingly...
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