Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1912-02-01
The NATIONAL RESERVE ASSOCIA-
ton OF THE UNITED STATES

tent OF us assets D4 AAaViAt-4~0-
Of the National Reserve
Association.
"a. All OF the privileges and adj
yantages Of the National Reserve AS
ISOLATION shall be -luItably extend
ed TO every bank OF any OF the class
es herein defined watch shall sub
scribe TO its proportion OF the stock
OF the National Reserve Association
and shall otherwise conform to the
requirements OF this Act
81. The Government OF the United
States and those banks owning stock
in the National Reserve Association
shall be the sole depOsitors in the
National Reserve Association All
domestci transactions Of the Nation
al Reserve Association shall be
confined 10 the Government and the
subscribing banks with the exception
% the purchase OF sale OF Govern
ment or State securities or securi-
ties OF foreign Governments or OF .
gold coin or bullion
o. Ne aIa4H "a A4A-As-AA - 80
( States shall deposit its cash balance
with the National Reserve Associa-
ton. and thereafter all receipts o.
the Government shall be depos ted
with the National Reserve AssOcia-
ton. except that when necessary the
Government may designate national
banks FOR that purpose in cities
where there is no branch Of the Ma
tionaI Reserve Association All dis
bursements by the Government shall
be made through the National Re
/ serve Association.
81. The National Reserve Associa-
ton shall pay no interest on de
pCsits.
ss The National Reserve Assccia-
|tfca may rediscount fer and with the
( Endorsement Of any bank having
deposit with It. notes and bills
of exchange arising out Of CONNER
.cial transactions. (This language,
whenever used, is intended to apply
d. all notes and bills OF exchange
issued OF drawn for agricultural, in
dustriaI, or commercial purposes, and
net lcr carrying stocks, bonds, or
= other investment secUrltiCs-l
Such notes and bills must have
= maturity Of not more than IS days,
J and must have been made at least
> 80 days prior to the date Of re-
DESCENT. The amount SO rediseOunt-
ed shall in no case exceed the cap.-
tai CT the bank applying for the
! rediscount. The aggregate Of such
] notes and bills bearing the Signature
: or Endorsement Of any one person,
IccuBauy. corporation, or firm, re-
discounted for any one bank, shall
= 9r NO time exceed 10 per cent OF
i the capital and surplus Of said bank
+ 81 Tie National Reserve Assccia
L ton may also rediseount, for and
e with the Endorsement CT any bank
b having a deposit with it. notes and
a bills Of exchange arising out OF
r commercial transactions as herein
0 before defined, having more than
{ IS DAYS. but not exceeding 1 months,
e to run. but in such cases the paper
( must be guaranteed by the local as
s ISOLATION Of which the bank asking
: for the rediscount is a member.
+ 40. Whenever, in the opinion OF
; the governor Of the National Re
e serse Association. the public in
!. tsrests so require. such opinion tc
b be coucurred in by the executive
: committee OF the National Reserve
e Association and TO have the .defin,
5 tie approval OF the Secretary Of the
e Treasury. the National Reserve As
Il ISOLATION may discount the diree
; obligation CT a dspOsiting bank, IN
r 5crsed BY its local association, pro
1 yided that the Endorsement Of tbs
local association shall be fully Sc
= cured By the pledge and deposit viii
e il OF satisfactory securities. which
u shan be held by the local sssocia
; ton for account Of the National Re
$ serve Association; but in no suei
]. case shall the amount loaned BY
Y the National Reserve Association e1
l. coed three-fOurths Of the aetna
e value Of the securities SO pledged
$ Al. The rates OF discount WHEEL
= the National Reserve Association
e shall have authority 10 fix IRON
e time TO time shall be published whel
Il fixed. and shall be uniform through
y out the United States
? A. The National Reserve Assoeia
e ton. may. whenever it's own eonditio
!. and the general financial conditions
e warrant such investment. purchase .
limited amount from suoscrielna
Il bank acceptances Of banks or hocs
e es OF unquestioned financial respon
d sibnity. Such scceptances mus
$ have arisen out Of commercial tran
Is sactions, must have not e1eeedinl
+ 90 days to run. and must be Of