Aldens Living Topics Cyclopedia a Record of Recent Events And of the Worlds P
Aldens Living Topics Cyclopedia a Record of Recent Events And of the Worlds P
John B Alden
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Formal application and filing of articles of associa- tion required; no general provisions regarding capital; some banks have government privileges by special arrangement; annual reports published and distributed among share- holders; no restrictions regarding deposits; interest paid generally; branch banks permitted; private banks pay an- nual license of about $170 in gold; circulating notes re- deemed through the custom-house. Peru. Kinds: Commercial banks and loan companies. Municipal office...rs determine compliance with law; govern- ment not a shareholder; branch banks permitted; share- holders liable for amount of investment; tax of 5 per cent, on net profits; interest allowed; monthly and semi-annual reports. Portugal. Kinds: Bank of Portugal and commerci'i! BANKING SYS2EM8. [HH banks. Consent of government necessary to start; capital must be fully paid in; shareholders liable for amount of investment; Bank of Portugal managed by a governor, 10 directors, and fiscal board of 7; reports weekly, other banks monthly; restricted interest allowed; government not a shareholder; branch banks permitted; insolvent banks ad- ministered by government commissioner; Bank of Portugal only issues circulation; no provision for redemption.
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