Page:United States Statutes at Large Volume 39 Part 1.djvu/775

 754 SIXTY-FOURTH CONGRESS. Sess. I. C11. 461. 1916. ,};’“’“°• *PP“°°‘ thro h its agenc by its rincipal: And provided further, That the U ‘ bankuihall not yarantee Ithe truth of any statement made by an ug·';°°gl;%:°°;j)r°f,°& assured in mapplication for insurance. _ exchange "Any member b may acczaplt drafts or bills of exchange drawn B"”°"‘b°'b'"”‘ u nit ha not more than ee months’ s` t to nm, exclusive F° Wig . o days of grace, drawn under regulations   e prescribed by the 1*. .i§§§£$£¥2§'§°i.1?S°;¥£p.s.sb’ °“‘*}3S¤.°$fb£'L}Lk‘ii?.r‘t’$£‘§.&"§‘S ‘%31~"2iI$°§u°’ pose of furnishing dollar exchaugeas required by the usages of trade BY ·»-—· ·»-¤ §‘%.J`}"2iJ.?é3°§£‘i.‘iiiS°°¥;§»"‘€,“;’ °°"°“..;sdd°“§i“r6%* §.’“i“‘“’  ' · y _ er reserve a m _ such amounts and subject to slixcli regulations, restrictions, and limiggiou on a C _ tations as may be prescribed by the Federal Reserve Board: Provided, espemxsrromonoper- however, That no member bank shall accept such drafts or bills of ’°“‘ exchange referred to this paragraph for any one bank to an amount exceeding in the a.ggregate ten per centum of the paicbup and unimwm, ,,,,u,,,,,,_  ca 1tal   surplus of the accepting bank unless the draft or ill of exdliange is accom anied by documents conve or securing ummm title or bg, some other adgquate security: Provided, That no member   shall accept such drafts or bi1ls_in an_amount exceeding ag any time ghe aggregate of 0ne—half of its pa1d—up and ummpau·e capit an surp us. ’ uggg ¤¤¤¤¢ ¤¤¤¤·- mTha(§ sulpelption (e) of section fourteen, be, and is hereby, amended rea as o ows: - M£1;%»¤m&‘u.am_ ;l§21gTe establish aegiouna wgsh other Federtagl r%_se:l·ve81baiifiks for ¤f.i¤r•¤•n¤co¤¤— ex e purposes an, W1 e consen 0 e e er es °"$';L 38, p_ ,65, Board, to open and maintain accounts in foreign countries, appbqihli •¤¤¤¤*- correspondents, and establish agencies m such coimtries wheresoever
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, uyan W1 OPWI ou 1 morsement, through such correspondents or, agencies bills of exchange arising out of actual commercial transactions which have not more Awww for {mm than_mnety dafys to run, exclusive of days of grace, and which bear °.,,,,,p°,,d.,,_S_ the s1gnature o two or more responsible parties, and, with the consent _ of the Federal Reserve Board, to open  maintain banking accounts · ··¤-·»»·-·~· as f°%hZ§§°..‘§‘;¤§%”§°”°“d°‘t“ ‘%‘ “g‘€f°`°“*”ae. be .1 · 1. t “° aragraposeconsix ,an1serey, amended to read as ollowsz , "s·§,¥,P:*g{Q*,§· ’°’· W "Ar5 Federal reserve bank may make application to the local mygiémss, p. xs, Feder reserve agent for such amount of the Federal reserve notes c,,n,,,,;,,1_ I gerembefore  for asl it rtgayhreiiuire. (Such application shall eaccompam wi atener te0calF al tf pgllateralupl gmoung equaldto the sum of the lildderlailsilevggwugchlotgs x_ usapp oran issue urs tto h li . - _·g525~»·r · 1.m.i mm, as offered §nu"%‘é m.Z`}°,t£2€§ §5i$°§i .§Qi‘§§§§, v,,,_3,,p_ M op aggeptances rediscounted under the provisions of section thirteen 0 t Act, or bills of exchange mdorsed by a member bank of any Federal reserve district and purchased under the provisions of section Dm mmm of is- fvurteeu of {this Act, or bankers’ acceptances purchased under the 1$aIidwithdrsw»u!s· progiségns o said section fourteen. The Federal reserve agent shall s::,.i.*;,s=:.§z.:%*2..”;¤.:*.zr:‘.t’;.e2;"° fzrmil as and with- ., _ _ an e mm Zfififnlé £‘2u“u§$$°f‘i2‘&er.i?3S2id ’§S§§l?‘ R.°§§.*€'; ililsfgvgsx G 0 ‘ protect the Federal reserve notes issued to it.; mn Secunty to {$,‘;{'°S,gf°’°;{=¤-m f {hilt Section twenty-four be, and is hereby, amended to read as amended, ’ 0 OWS1 sy; miami banks HSec. 24. Any national banking ’ ‘ · sp; is emma reserve. association not situated in a mm central reserve city ma k 1 d - <~··~=··~····=¤— erggisrn farm an SQLEQS w§’?§»’;S§’.“§2de¥Zi ‘?2§§.‘-?Z.°?r.“i%?C€’§; wi a radius of one hundred milesof the place in which such bank