The agricultural output of England and Wales 1925

Bibliographic data

Monograph

Identifikator:: 1753623200

URN:: urn:nbn:de:zbw-retromon-136107

Document type:: Monograph

Title:: Economic essays

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1927

Scope:: viii, 368 S.; Ill., graph. Darst.

Digitisation:: 2021

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Elasticity of supply as a determinant of distribution / Paul H. Douglas

Collection:: Economics Books

NaTioNAL BANK ORGANIZATION the examiner will present his bill covering the expenses incurred in the examination, whereupon the applicant should deliver to him a draft payable to the order of the Comptroller for the amount of the bill, the draft to accompany the examiner’s report. The Comptroller also ob- tains reports on the situation from the Federal Reserve Bank of the district, from the State Banking Department, and from other sources. Upon the approval by the Comptroller of the organization of the proposed bank, all the necessary blanks for use in connection with the organization will be furnished, with instructions for their proper execution. The title applied for will be reserved for sixty days more, during which period it is expected the organization of the bank will be completed. 8. Disposition of capital stock—After the bank has received per- mission to organize, subscription contracts, to be signed by the pro- spective shareholders, are usually drawn up. Forms for such con- tracts are Nor furnished by the Comptroller, but it will be found serviceable if each subscriber is required to give not only his signa- ture, but his address, occupation, statement of his net financial worth, and the number of shares to which he subscribes. The stock of a national bank must be divided into shares of $100 each, or such less amount as may be provided for in the articles of association, and the Comptroller recommends that all organizing national banks sell their stock at a premium, thereby creating a surplus from which to pay organization expenses, which, with salaries, frequently prove a drain upon capital during the early months of the bank’s existence. Where no surplus is created through premium, the Comptroller recommends that no dividend be paid until a substantial surplus has been created by earnings. Payment of the capital stock is treated in Paragraphs 8 and 10 of this chapter. 4. Articles of Association—At least five persons, the Ses of whom are subscribers to stock of the proposed bank, mus i institutions Articles of Association, which are drawn hn 4 cuted in duplicate. One copy is retained by the bank, i ole is filed in the Comptroller’s office. The persons uniting to i a national bank must be individuals who can hold and control Ph erty in their individual right—not corporations, firms, or associations of anv character. D5 |

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