内容简介：
Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: and would certainly have a deterrent effect on the conduct of those bank officials whose directors allow them to have full control of the management of the bank. The professional accountants of the country commend the subject to the careful attention of the banks, confident that a proper study of the situation will develop plans that will render less frequent the distressing occurrences that have recently shocked the financial world. SECURITIES THAT ARE NOT SECURITIES ADDRESS DELIVERED BY J. T. BRADLEY, CASHIER, FIRST NATIONAL BANK, SEDAN, KANSAS, BEFORE THE KANSAS BANKERS' ASSOCIATION, 1905. This subject suggests two general classes of security: First, that which is security and, second, that which is not security. By security is meant any kind of property, thing, right, privilege, franchise, service, person, corporate body, or municipality, pledged to the payment of an obligation, or debt, or to a performance. Any pledge made which causes the fulfillment of a thing to be done at the time and in the manner specified irr an agreement or contract is security that secures. If it fails to cause the fulfillment of the obligation, agreement, or contract in the manner or at the time specified, or within a reasonable time thereafter, or at all, it is security that does not secure. To be specific: Any note, bond, warrant, order, draft, or other evidence of indebtedness, which is secured by a person, corporation, or municipality, or by a pledge of property of any kind or character, which insures prompt payment or fulfillment, is security that secures; if it fails to secure payment or fulfillment promptly or within a reasonable time or at all, then it is not security. It is not the principal note, bond, mortgage, order, warrant, or other evidence of indebtedness that is th...