Page:United States Statutes at Large Volume 18 Part 1.djvu/1076

 1004 ’[`rr1.1·: Lxu.——NATIONAL BANKS. ~—(‘1-r. 3. "Lv·~$§¤l-m<>r{¤y Sec. 5191. Every national banking association in either of the follow. ’?,““"" P“"*’°"b‘ ing cities: Albany, Baltimore, Boston Cincinnati, Chicago, Cleveland, °je'___._ Detroit, Louisville, Milwaukee, New Crleans, New York, Philadelphia, wg {ug? :8%*.  Eittsbxgh, Sapit (Louis, SpnlFranc1scq, ta]ndL}Vasléingtqn, shall at all ·*· ·· ·‘1mes veon an ,1n awu money o e me r aes, an amoun m?`M,,,._ 1872 (._ equal to at least twenty-five (per centum of the aggregate amount of its 22,v. 11,,;).32., notes in circulation and its eposits; and every other association shall ?0 ·N¤¢’· 187% ¢· at all times have on hand, in lawful money of the United States, an amount 34** "· 18- "· 123 equal to at least fifteen pgr centum of rghe aggiegatp amopnt of its notes in circulation, and of its eposits. enever the aw u mone of any association in any of the cities named shall be below the amount of twent 1-five per centum of its circulation and deposits, and whenever the lawful money of any other association shall be below fifteen per centum of its circulation and deposits, such association shall not increase its liabilities by makling any ppw floans] or discounltp otherwlise than by discountin or urc asin bi s o exc an e ·a e at si t, nor make anv dividend of its profits Sintil the require% plibbortion, bg:-tween the a regate amount of its outstanding notes of circulation and deposits add its awful money of the United States, has been restored. And the Comptroller of the Currency may notify any association, whose lawful-mone reserve shall be below the amount above required to be kept on hand; (tlc makle goqd such reserye; ami} if such association shall fail for éhirty ays therea ter so to ma e g its reserve of awful money, the om — troller may, with the concurrence of the Secretary of the Treasury, as point 3 1‘€;‘i(}gVB; to ping up thei lzpsinesp of the association, as provided in sec ion y- wo run re an 1rty— our. What may be Sec. 5192. Three—fifths of the reserve of fifteen >er centum re uired fgugigiéflxgzd by the preceding section to be kept, may consist of balances dueqto an ,_€;,“,€_,, Y association, available for the redemption of its circulating notes, from is associations approved by the Comptroller of the Currency, organized 102 ·;“’3§$·    underthe act of  une three, eighteen hundred and sixty-four, or under qos: ‘ ’’ ‘ this Title, and doing business in the cities of Albany, Baltimore, Boston, 3430 Jug? ;g·p;hC_ Eharkstoni Chmaglo, CipcinlpapiilC&le1vel:p1d, I1?etroit, Igoniisville, Milwau- . v- .1% - ee, 'ew r cans, 'ew 'or, i e ia -ittsbur ichmond Saint Louis, San Francisco, and lVashington.P Clearing-hoginse certificates, representing specie or lawful money specially de sited for the pur ose, of any clearinghouse association, shall also be clggmed to be lawfulpmoncy in the possession of any association belonging to such clearing-house, _ _ holding and owning such certificate, within the preceding section. wg<;'*:;¤d G°°;*gfl; Sec. 5193. The Secretary of the Treasury may receive llnited States mm, be m,,n§’,,d_ notes on deposit, without interest, from any national banking asso0ia— .§-W;? gpm? in sums plffnot less lthan ten thousapd dogars, and issue cqrtifitcatcs · ~> · ere or in suc orm as e may rescri in enomina ions o no less " * "  ;*:1*.:£;$.rJ.;°:i:12€s;’:r:·*·::*.ri*b*€°:i6r::·d*;.“··*2" Sm-rmi ‘ s were ma e. e no sso e osi e s not be counted as part of the lawful-money reserve of the assdhiation; but the certificates issued therefor may be counted as part of its lawful-money reserve, and may be acce ted in the settlement of clearing- house balances at the places where the cfdposits therefor Wél'8 made. Limitation _ on Sec. 519+. The power conferred on the Secretary of the Treasury, by ¤h¢hP<>V•’<*!6*<> ¤¤S¤<> the preceding section, shall not be exercised so as to create any ex an- E.  sion or contraction of the currency. And United States notes for which Ibid., s- 3- pegtificates areiiissuedluncder that section, or other United States notes of i e amount, s a be 1el as s cial de sits in the Treasurv, and used only for the redemption of sucliccertificaptizs. L _Placeioi·redeinp. Sec. 0195. luach association organized lh an * of the cities named in twn of cuculptngng section fiftyone hundred and ninety-one shall select, subject to the Egg *0 "’ ‘°"'$‘ approval o the Comptroller of the Currency, an association in the cit)' -- - ‘.e . of New York, at which it will rcdeem its circulating notes at par; and mg -;*1*,;;- :8%  maykeep one-half of its lawful-money reserve in cash deposits in the ,09j · · · ·l· c1ty_of New lork. But the foregoingprovision shall not apfply to aHSO· 20 _;,,,,,, 1874, c_ ciations organized and located IH the city of San Francisco or the pill'- 543, »·. 18, p. 124. pose of issuing notes payable in gold. Each association not organized