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APPENDIX

personal security; and by obtaining, issuing, and ecir
culating notes according to the provisions of this title
Provided, That the business of buying and selling invest:
ment securities shall hereafter be limited to buying and
selling without recourse marketable obligations evideneing
 indebtedness of any person, copartnership, association.
or corporation, in the form of bonds, notes and/or debentures,
 commonly known as investment securities, unde’
such further definition of the term “investment securities’
88 may by regulation be prescribed by the Comptrolle:
of the Currency, and the total amount of such investment
securities of any one obligor or maker held by such association
 shall at no time exceed 25 per centum of the
emount of the capital stock of such association actually
paid in and unimpaired and 25 per centum of its unimpaired
 surplus fund, but this limitation as to total amount
shall not apply to obligations of the United States, or
general obligations of any State or of any political subdivision
 thereof, or obligations issued under authority of
the Federal Farm Loan Act: And provided further, That
in carrying on the business commonly known as the safe
deposit business no such association shall invest in the
capital stock of a corporation organized under the law
of any State to conduct a safe deposit business in an
amount in excess of 15 per centum of the capital stock of
such association actually paid in and unimpaired and 15
per centum of its unimpaired surplus.
But no association shall transact any business except
such as is incidental and necessarily preliminary to its
organization, until it has been authorized by the Comptroller
 of the Currency to commence the business of
banking.

FOWER OF NATIONAL BANK TO HOLD REAL PROPERTY

Section 5137, Revised Statutes, as amended by the act of Febru.
ary 25, 1927
Sec. 5137. A national banking association may pur
chase, hold, and convey real estate for the following purposes,
 and for no others:
First. Such as shall be necessary for its accommodation
 in the transaction of its business.
Second. Such as shall be mortgaged to it in good faith
by way of security for debts previously contracted