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" actually paid in. But the discount of bills of exchange drawn in good faith against actually existing values and the discount of commercial or business paper actually owned by the person negotiating the same shall not be considered as money borrowed.... "
Report of the Corporation Commission - Side 49
av North Carolina. Corporation Commission - 1907
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Insider Lending: Banks, Personal Connections, and Economic Development in ...

Naomi R. Lamoreaux - 1996 - 196 sider
...any one person or company. There were two exceptions to this provision, however. The first exempted “the discount of bills of exchange drawn in good faith against actually existing values” — in other words, real commercial paper. The obvious presumption here was that, because such loans...
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Evolving Financial Markets and International Capital Flows: Britain, the ...

Lance E. Davis, Robert E. Gallman - 2001 - 1002 sider
...bank would not be endangered by discounting large amounts from a single firm. The second exemption, "the discount of commercial or business paper actually owned by the person negotiating the same," is similarly instructive. Such persons were normally expected to be professional brokers, whose growing...
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A Memoir of Benjamin Robbins Curtis, LL.D.: Memoir

Benjamin Robbins Curtis - 2002 - 954 sider
...PROVIDED, that the discount of bona fide bills of exchange drawn against actually existing values, or the discount of commercial or business paper actually owned by the person or persons, corporations, or firms negotiating the same, shall not be considered as money borrowed."...
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Business Barometers for Anticipating Conditions

Roger W. Babson - 2006 - 449 sider
...documents. The paper must have not longer than ninety days before maturity, and except in the case of "bills of exchange drawn in good faith against actually existing values" no bank can lend in excess of 10% of its capital and surplus to any one firm or individual. Also there...
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