"Beginning with rpt. for 1878 (and occasionally in previous years), each rpt. [up to 1910] cont. a compilation of the laws rel. to banks, savings banks, trust and investment cos. and building and loan ass'ns.

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Página 61 - ... introduce a new feature into the banking business of the State. We allude to the practice of loaning to parties the bills of the banks, at rates varying from three to six per cent, per annum, the borrower guarantying their redemption in the same manner as if they were his own obligations. The bills so loaned are marked in such a way that they are readily detected at the counter of the bank, and at once returned to the borrower, who redeems them. This is called «protected circulation," and amounted...
Página 64 - ... such person to come before him and inquire into the facts set forth in such application, and may thereupon commit such person to jail until he shall comply with such request; but the bank commissioners shall not impart any information obtained by them in the course of such examination, except in so far as may become necessary in the performance of their duties.
Página 16 - ... a greater rate of interest than six per cent, per annum, to be sold at par, payable semi-annually.
Página 61 - It places the bank resorting to it in a critical condition in case the borrowing party fails to redeem, according to the terms of his contract, and a large amount of their circulation is thrown back upon them at a time when they are not prepared to meet it. Such a case has occurred within a limited period, and had it not been that the collateral security held by the bank was of such a nature that it was immediately convertible into cash, their embarrassment would have been severe, especially as the...
Página 59 - Total $19,656,566 31 upon which the circulation of the banks of the State is predicated. The Bank Commissioners, who have personally visited and examined all the banks in the State, in accordance with the requirement of the statute, believe them to be in a sound condition ; and, though the failure of the Eastern and Woodbury banks caused, for a time, suspicion to rest upon them, the trying time has passed, and we trust that general confidence is restored, and that they will again resume that high...
Página 59 - From the foregoing tables it will be seen that there are fifty-five banks in the State, including five organized under the General Banking Law of the Legislature of 1852, with an aggregate capital of 118,960,944 60 Aggregat...
Página 3 - To the Honorable General Assembly of the State of Connecticut, now in session...
Página 61 - The system of protected loans and issuing on deposites, has given the banks facilities for making large dividends. And for the past few years, investments in bank stocks have been so profitable as to induce almost every capitalist to purchase such stocks at large premiums, and to withdraw all loans upon other safe securities, where the legal rates only were obtained. Thus every business man is at the present time compelled to borrow of banks, when formerly loans were obtained...
Página 8 - Treasury, in order that you may take such action in the premises as in your wiädom may be best for the interests of the State.
Página 15 - Banks, are under the control of gentlemen of the highest respectability, and so far as we have been able to discover from a thorough investigation of their affairs, are managed in strict conformity with the requirements of the law, although one of them has in a single instance committed the error of borrowing money and paying more than 6 per cent, per annum for its use.

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