A History of the Bank of New York, 1784-1884

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G.P. Putnam's Sons, 1884 - Banks and banking - 136 pages

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Page 122 - Half-yearly dividends shall be made of so much of the profits of the bank as shall appear to the directors advisable; and once in every three years the directors shall lay before the stockholders, at a general meeting, for their information, an exact and particular statement of the debts which shall have remained unpaid after the expiration of the original credit, for a period of treble the term of that credit; and of the surplus of profit, if any, after deducting losses and dividends.
Page 124 - In case of excess, the directors under whose administration it shall happen, shall be liable for the same in their natural and private capacities ; and an action of debt may in such case be brought against them, or any...
Page 121 - State, such vacancy or vacancies shall be filled for the remainder of the year in which they may happen by...
Page 124 - ... requisite for its immediate accommodation in relation to the convenient transaction of its business, and such as shall have been bona fide mortgaged to it by way of security, or conveyed to it in satisfaction of debts previously contracted in the course of its dealings, or purchased upon judgments which shall have been obtained for such debts.
Page 123 - That the directors for the time being, or a major part of them, shall have power to make and prescribe such by-laws, rules, and regulations as to them shall appear needful and proper, touching the management and disposition of the stock, property, estate, and effects of the said corporation...
Page 125 - ... made, in a book or books to be kept for that purpose...
Page 124 - The said corporation shall not, directly or indirectly, deal or trade in any thing except bills of exchange, gold or silver bullion, or in the sale of goods really and truly pledged for money lent and not redeemed in due time, or goods which shall be the proceeds of its lands.
Page 119 - York, shall be in law capable of purchasing, holding and conveying any estate real or personal, for the use of the said corporation...
Page 14 - A majority of the directors shall have power to call a general meeting of the stockholders, for purposes relative to the concerns of the company ; giving at least thirty days...
Page 121 - That, in case it should at any time happen, that an election of directors should not be made upon any day when pursuant to this act it ought to have been made, the said corporation shall not, for that cause, be deemed to be dissolved ; but it shall be lawful, on any other day, to hold and make an election of directors in such manner as shall...

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