Répertoire des administrateurs & commissaires de société, des banques, banquiers et agents de change de France et de Belgique

Bibliographic data

Monograph

Identifikator:: 1751319059

URN:: urn:nbn:de:zbw-retromon-129553

Document type:: Monograph

Title:: Répertoire des administrateurs & commissaires de société, des banques, banquiers et agents de change de France et de Belgique

Place of publication:: Paris [u.a.]

Year of publication:: [1926]

Scope:: 1316 S.

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Ville de Gand Bourse des fonds publics règlement d'ordre intérieur

Collection:: Economics Books

Hh THE FREEDMEN’S SAVINGS BANK received scant consideration at the ordinary bank. In scores of cases loans were made without any real security whatever, and second mortgage paper was frequently accepted. This practice was gradually checked and was stopped in most of the branches in 1872. But since public senti- ment favored the lending of money in the com- munity, deposits began to dwindle as soon as local loans were forbidden. The law of 1870, requiring that loans be made only on real estate valued at double the amount of the loan, was often violated, and the cashiers proceeded to make investments on their own responsibility. Some of them loaned funds against the nearly worthless scrip or bonds issued by the carpetbag state and local governments; others loaned on cotton; some even made loans on perishable crops. The Jacksonville branch put out money on nearly everything that was offered, from sawmills located in the Florida swamps to shadowy claims on property in the city. Several branch banks, notably Beaufort and Jacksonville, began to go into the regular banking business, and, with a few others, en- deavored to act somewhat independently of the central office. CASES OF FRAUD Not only were the cashiers sometimes incom- petent and disregardful of laws, regulations, and business principles, but several of them were personally guilty of defrauding the institution 1 Bruce Report, p. 28; Douglas Report, pp. 25, 39, 48, 49; C. A. Meigs, Report, in Ho. Misc. Doc. No. 16, W Cong., 2 Sess., p. 66; 14 Florida Reports (1874), pp. 418-434. > a

Access restriction

Copyright

fullscreen: The Freedmen's Savings Bank

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation