HOLDERS OF GOVERNMENT SECURITIES-Continued: INTEREST: When payable in coin....... I. When it ceases to run..... ......................... transferred after books are closed, to whom payable..........57, 69 disposition of, when not claimed in ninety days... On coupon bonds, how and where collectable........... in cases of called bonds or detached coupons.. May be paid before maturity; when subject to rebate......... On funded loans, exempt from taxation...... Collection of, on bonds deposited with Treasurer by national banks.. L. LEGAL-TENDER NOTES: (See United States Notes.) Origin of the term; for what receivable... 69 .... 70 70, 71 76, 77 71 87 117 For what they are not receivable.......... LIABILITY: (See National Banks.) Of stockholders in national banks; extent and enforcement of.......................... banking associations; limitations and restrictions affecting... directors and other officers in their individual capacity...... LIMITATION: No statute of, against matured bonds....................... LOANS: Outstanding, not matured, payable in coin. matured, but not presented for payment....... Not bearing interest. (See Debt of the United States.) LOST BONDS: If registered, notice of loss to be given Treasury Department.. Proceedings for obtaining duplicates.... How such renewals are obtained... Coupon bonds renewed only when destroyed or defaced... MONTHLY DEBT STATEMENT: M. Description of............. 77, 78 Balances of old loans included in.......... 78 MUTILATED CURRENCY. (See United States Notes; Fractional Currency.)............... 49 134 124 ASSIGNMENT of depositor's claim, after failure of bank and before appointment of receiver, not good as a set-off in favor of a debtor of the bank...... 129 BAD DEBTS defined; to be deducted from net profits before dividend... no limit to number of, or to aggregate amount of capital... 103, 104 103 beyond minimum amount, to capital of each bank.................................. 103 BANK NOTE PAPER. (See Counterfeiting.)............................ 104, 109 140 BANK RESERVES. (See Redemption Agencies. Reserves...)......... exceed that imposed on State banks... 120 126, 127 but may equal the highest rate imposed, when a lower rate exists 127 BILLS OF EXCHANGE, discount of, when not usurious.......... 120 103, 111 may be issued in lieu of coupon for purposes of deposit.............................. 111 deposited, amount necessary to perfect organization....... 110, 111 always to equal one-third of capital stock actually paid in....... 111 transfers of, by Treasurer, to be countersigned and recorded by 113 to be examined annually and compared with Comptroller's 116, 117 result of examination to be certified to Treasurer by such officers 117 to be held exclusively as security for redemption of notes; de- may be exchanged for other United States bonds.......... or on deposit of lawful money.. cannot be retained as security for other claims of the United sale of, by Comptroller, for purposes of redemption..... certificate authorizing such commencement to be published 112 to be divided into shares of $100..... fifty per cent. to be paid in before commencing business.. 106 may, subject to the provisions of the act, regulate the transfer of stock, 106 CAPITAL STOCK, no limit to amount of..... 103 amount of, required on organization... 104 108 109 110 108 106, 108 109 109 124 110 to be deemed personal property....... mode of transfer to be fixed by articles or by-laws........... withdrawal of, while bank is in operation, forbidden... not realizing amount due and expenses, forfeited...... 110 regulations for payment of duty on.. CASHIER, to be appointed by board of directors. bank responsible for his acts....... limitations of responsibility, when not effectual. when his authority may be inferred....... to give security, if required by association.. CERTIFYING CHECKS, unlawful, unless amount certified is actually on deposit....... 151 the act of, by competent officers, creates a valid obligation on part of bank 151 contrary to law, subjects banks to proceedings for closing up, 151 139 CHARLESTON, when to be added to list of cities where banks may hold three-fifths 153 153 PAGE. NATIONAL BANKS-Continued: $25,000,000 of, redistribution of, in States having less than their CIRCULATING NOTES, how provided; denominations and form of........... plates and dies to remain in charge of Comptroller......... not more than one-sixth to be under $5...... 115 125 113 115 115 none under $5, after resumption of specie payments........ worn-out or mutilated, to be replaced....... 118 116 provisions relating to, 53, 121, 122, 128, 132, 135, 156, 157 121, 122 122 of banks in other places, to be redeemed at a bank in either of .............. 149 153 authorize associations, when duly organized, to commence busi- ness...... ..... ....... 105, 112, 130 examine and determine when associations are entitled to such author- 112 issue his official certificate for that purpose; contents of................................... 112 113 deliver to associations which have complied with the law their quota 114 furnish gold notes to associations organized as gold banks.. 154 make regulations for the entry or record of such notes. 116 117 117 .......... and to make good any deficiency in lawful money reserve....... 121 121 122 131 132 in case of insolvency, and within thirty days after notice of failure, 132 and thereupon to notify holders of circulating notes to present advertise for claims against the association..... 135 135 and from time to time, after providing for any deficiency in appoint from time to time, with approval of Secretary, examiners of 151 137 make an annual report to Congress; contents of............. 140, 141 153 153 make requisition on banks having a surplus circulation for a pro rata 156 in case of non-compliance, to sell bonds of defaulting association to an 156 make regulations, subject to approval of Secretary, for removal of ......... 158 |