The "Federal Reserve Act" (see end of book) provided for the selection of not less than eight nor more than twelve cities, to be known as "Federal Reserve Cities "; for the division of continental United States, exclusive of Alaska, into districts; each district to contain only one of such Federal Reserve Cities. These cities were to be apportioned with due regard to the convenience and customary course of business, and were not necessarily to be coterminous with any State or States.
These districts may be readjusted, but the number must not exceed twelve. These are the" Federal Reserve Districts," and are designated by number.
Each Federal Reserve Bank shall have the power, upon deposit of government bonds with the Treasurer of the United States, to receive, in exchange therefor, circulating currency, or bank notes, under the same conditions and provisions of law as relate to the issue of circulating notes of national banks (see "National Bank Notes"). In addition, "Federal reserve notes" may be issued at the discretion of the "Federal Reserve Board" for the purpose of making advances to "Federal Reserve Banks" through the "Federal Reserve Agents" for certain purposes as set forth in Section 16 of the "Federal Reserve Act" at end of book.
The "ticker" abbreviation for "full paid."
See "Federal Reserve Act."
An English term for their "debentures," to which refer.
All "bearer" certificates, but more particularly certain British Government stock certificates in which the name of the owner is not inserted by the Bank of England - where it is transferred - are called "floaters." In such a case, no name denoting ownership is entered at the bank, but coupons to cover five years are furnished with the certificate, to be presented for the collection of dividends as due. So long as the certificate is left blank in this way, its ownership passes by delivery.
One buys or sells "for cash" when doing so for actual full payment and delivery.
Four D Banks. A term sometimes used to designate the four great banks of Germany having "D" for the first letter of their corporate names, viz., the Deutsche Bank, the Dres-dener Bank, the Direction der Disconto-gesellschaft and the Darmstadter Bank, ordinarily known as the Bank fur Handel & Industrie.