Economic essays

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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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Document type:: Monograph

Structure type:: Chapter

Title:: Clark's reformulation of the capital concept / Frank A. Fetter

Collection:: Economics Books

NATIONAL BANKING UNDER THE FEDERAL RESERVE SYSTEM AL NaC DANKING UND ub TEL PRDERAL DISTRVY OYSTEM = Where a national bank is organized in a suburban district included within the political boundaries of a city with a population of 50,000 or less, the bank must have a capitalization equivalent to the amount of capital required of a bank located in the city in question. (See footnote on preceding page). 2. Organization Application—Preliminary to the formal application to organize a national bank it is customary for those interested in the prospective financial institution to write the Comptroller of the Currency at Washington, requesting reservation of the title under which the bank is to be known, and stating the location and proposed capital. The title asked for will be reserved for fifteen days, before the expiration of which time it is expected that formal application to organize will be filed with the Comptroller. Forms for the application to organize a national bank are fur- nished by the Comptroller of the Currency—and minute care should be exercised in filling out these papers. All of the information re- quested should be given, the instructions contained in the forms should be carefully followed and the application signed by at least five prospective shareholders of the association. Exclusion of any professional promoters from the organization will be required. No commissions paid for the sale of stock or promotion fees should be included in the bank’s organization expenses, but only such legitimate other expenses as are incident to the actual organization of the bank. If any agreement exists to use subsequently any part of the capital stock, surplus or undivided profits, to pay promoters’ expenses, favorable consideration will not be given to the application. Letterheads bearing the bank’s name which are in use before the bank is given permission to begin business should indicate that the bank is organizing, or bear the heading “Organization Committee.” When application is made to organize a national bank, a bank ex- aminer will be sent to the town in which the bank is to be located, and he will give consideration to the general character and experience of those who are to conduct the bank’s affairs; to the question of whether there is need for additional banking facilities in the commun- ity; to the community’s prospect for future development; to the meth- ods and banking practices of existing banks; to prospects of success for the proposed banks under efficient management. After his examination [ Rd fe 241

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