Salt Lake Herald-Republican | 1915-07-17 | Page 7 | Trade Acceptance Regulations Issued

TRADE ACCEPTANCE REGUlATIONS ISSUED Scope o of f Ser Service of Reserve I Banks Bank s Enlarged b by Federal Boards Board's Order Washington July Regulations 16 16 Issued todo today b by the federal reserve board prescribe conditions under which trade acceptances may be bo rediscounted at regional banks Rules already have been made for bankers acceptances In promulgating today's order the board expressed the belief belle that It will I I considerably enlarge the scope of oL derv ice of or federal reserve banks and also in elop de developing ng a n. class of e ename name paper which it says In hi many countries Is a a. desirable desirable- form of in investment investment tn- tn vestment and an Important fa factor tor la In modern commercial banking banking- system Tho The regulations define a a. trade as a bill of ot exchange exchange- o 0 ha haa nn a SL definite maturity and payable In dollars dol dol- lira lars in the United States es havi rig the t th i obligation to pay accepted by an ao ao- no 1 i know across Its face by th the person or corporation on whom It t is la i I drawn To ro be eligible for tor rediscount a n reserve bank such trade trado acceptances I I must be Indorsed by a member bank I must have hae a maturity at tho the time o oI disc discount of 01 not more than han ninety days and must bo accepted by the of goods sold by the drawer of ot the bill bUI The bill roust must be drawn against In ln- expressly Incurred by this thO th acceptor in tho purchase of such go goods Evidence must be be presented with with the th acceptance that it arises out of ot such a. a tran transaction t tIts tIt's Its It's a R. case of matrimonial dy if a 1 husband and wife fall taU to agree j