Sessional Papers of the Dominion of Canada Volume 23, No. 4

Sessional Papers of the Dominion of Canada Volume 23, No. 4

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1890 edition. Excerpt: ...loans, should be free from debt, and ave in no way impaire IS war: -an y; (b.) Be in a position to assure its payment. $1) In order to check the influx of money coming to the Bank in the shape of shares and deposits, it was deci ed in the Assembly of 1st January, 1872, that no more than five shares per 'ear should be granted to present or future shareholders, and that the shares could not be sold or alienat until one year after their issue. Later on they limited to one share per year, shares to be granted present and future shareholders. (2) The Popular Banks of Vsnetia, particular y that of Padua, discount bills of sale, and notm of dealers either in goods or labor. Art. 18. The Administrative Committee having taken into consideration the state of the funds, and the position of the borrower, may grant him a loan of double the amount of his paid up shares or of his payments. For larger amounts the security of other members, or of third parties of known solvency, or pledges or other sufiicient warranty, is required. The Administrative Council, together with the discount Committee, decide upon their acceptance and validity. Art. 19. Loans may be effected according to particular circumstances, or as a simple civil obli ation, or by means of drafts. Loans may e made on deposit of title deeds of public rents, or other public values, and on obligations of commercial associations of industry under the rules of the Statutes. (B) DISCOUNT. Art. 20. Members of this bank may offer for discount their effects of change, according to the rules established by Articles 17 and 18. Art. 21. The smallest loans and discount will be given the preference. Art. 22. Members who have been refused credit may, if they wish, appeal to the Council of Arbitration, who, ...show more

Product details

  • Paperback | 410 pages
  • 189 x 246 x 21mm | 730g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236935861
  • 9781236935861