Six months after date, for value received, I promise to pay to or order, dollars, and interest at the rate of per centum per, for such further time as said principal sum or any part shall remain unpaid, I having deposited with this obligation, as collateral security, shares of the capital stock of

the Bank of, with authority to sell the same without notice either at public or private sale, or otherwise, at the option of the holder or holders hereof, on the nonperformance of this promise, he or they giving me credit for any balance of the net proceeds of such sale remaining after paying all sums due from me to the said holder or holders, or to his or their order. And it is further agreed that the holder or holders hereof may purchase at said sale.

Four months after date, I promise to pay to the order of

dollars, for value received, without defalcation, hereby waiv ing all right to stay of execution and exemption of property in any suit on this note. As collateral security, I have delivered

shares of the capital stock of the Railroad Company, which I hereby authorize and empower the holder hereof, on default in payment at maturity, with a view to its liquidation, and of all interest and costs thereon, to sell and transfer, in whole or in part, without any previous demand upon or notice to me, either at brokers' board, or at public or private sale, with the right of becoming the purchaser and absolute owner thereof, free of all trusts and claims, should such sale be made at brokers' board, or be public. Furthermore, I agree that so often as the market price of these and subsequently deposited securities shall, before maturity of this note, fall to a price insufficient to cover its

amount, with per cent. margin added thereto, I will, on demand, within two hours thereafter, deposit with the holder additional security, to be approved by said holder, sufficient to cover said amount and margin, and that, in default thereof, this note shall become instantly due and payable precisely as though it had actually matured, and all the foregoing rights to sell and transfer collaterals shall at once be exercisable, at my risk, in case of any deficiency in realizing proceeds.

Collateral Note pledging Bonds with Power of Sale. $1,000. PHILADELPHIA, October 1, 1885. Four months after date, I promise to pay to the order of

dollars, for value received, without defalcation. Along with the foregoing obligation, I have delivered two bonds of the Railroad Company, for one thousand dollars each, dated the day of, 18—, payable years after date, as collateral security for the prompt payment at maturity of this and of any other liability or liabilities of the undersigned, due or to become due, or of any that may be hereafter contracted with the holder of this promissory note; which collaterals, either the whole or any part thereof, I hereby authorize and empower the holder of this promissory note (provided the same or any other liability of the undersigned, as before described, be not paid at maturity) to sell at public or private sale at any time or times thereafter, without further reference or notice to me, and with the right on the part of the holder of this obligation to become the purchaser, at such sale or sales, of the whole or any part of said collaterals (freed and discharged of any equity of redemption), and to transfer, assign, and deliver up the same; and after deducting all legal and other costs, attorneys' fees, and expenses for collection, sale, and delivery, to apply the residue of the proceeds of such sale or sales so made to pay any, either, or all of said liabilities, as said holder shall deem proper, returning the overplus, if any, to me; and should any deficiency occur, I further promise and agree to pay the same to the holder hereof, on demand.

Payable at.

Promissory Note with Collateral Security.

PHILADELPHIA, October 1, 1885.

to pay to value received.

without grace or notice, I promise

dollars, without defalcation, for

And as collateral security for the punctual payment of the same, I have deposited in his hands sundry securities as specified in the annexed power, authorizing a sale of the same in case of my failure to pay this note.

The following is a list of the securities pledged by me to said to secure the punctual payment of my note for

due the day of

next, namely, etc.

,

dollars,

And I do hereby authorize the said or the holder of my said note, in case of my failure to pay said note at maturity, thereupon to sell the said sureties at the brokers' board, for the best price that can be obtained for the same, without notice to me, and to apply so much of the proceeds thereof as may be necessary to pay said note and the expenses incurred by said procedure.

Witness my hand this

$500,000.

day of

18-.

Same. Another Form.

NEW YORK, August —, 18-.
Manufacturing

at the

་

Bank

One year after date, without grace, the Company promises to pay to the order of in - the sum of five hundred thousand dollars, in gold coin of the United States. for value received, with interest from date until paid at the rate of per cent. per annum, payable quarterly in like gold coin. This note is executed in pursuance of a resolution of the board of directors of said manufacturing company, passed the

day of, 18-.

The said - Manufacturing Company doth hereby deposit with (the pledgee), as collateral security for the payment of the above written promissory note, the following described bonds and shares of stock belonging to said Manufacturing Company, namely, etc.

Manufacturing its attorney irre

In case of the nonpayment of the aforesaid promissory note, or of any interest thereon when due, the said Company hereby appoints and constitutes vocable, with power of substitution to sell, at any time, after said note, or any interest thereon, is due and remains unpaid, with or

without notice to said

Manufacturing Company, the whole or any part of said security, either at public or private sale, at discretion, the proceeds to be applied to the payment of the aforesaid promissory note, the interest due thereon, and commissions on sales, and any surplus after said payment to be subject to the order of said Manufacturing Company.

On payment of the aforesaid promissory note and interest, this agreement shall be void, and the security mentioned returned to said -Manufacturing Company. This hypothecation is made subject to all the legal rights of a certain hypothecation executed by the Manufacturing Company on the 18-, to secure the payment of a note of the same date for eight hundred thousand dollars, and due on the 18-, bearing interest at the rate of

day of

first day of

cent. per annum.

In witness whereof the said

per

Manufacturing Company

has caused these presents to be signed by its president, and its corporate seal to be hereto affixed, this

To

day of

Pledge of Shares of Stock.

NEW YORK,

18-.

18-.

dollars, which is and which sum is

Having borrowed from you the sum of to be repaid to you on the day of secured by my promissory note in your favor for that amount bearing even date herewith, I have, for further securing the repayment of such sum, transferred shares of the

Railroad Company in your name in the books of the said company, to be held by you on the following terms, namely:

1. All dividends which may be declared upon the shares are to be received by you and paid to me.

2. All new shares created in respect of the above shares are to be held by you as the original shares, the calls or assessments thereon to be paid by me.

3. On the

day of, 18-, upon being repaid the amount advanced as above, with interest thereon at the rate of per cent. per annum, the said shares, and all newly created shares (if any), are to be transferred to me.

4. If I shall make default in repayment of the said advanced sum on the day of, 18-, or in payment of the said calls as they shall become due, you may at any time after

wards, on giving me

days' notice of your intention so to do, and without being liable for any diminution in prices which may have taken place in the mean time, and without any further consent by me, sell the said shares, and any such new shares as aforesaid, at such price or prices, and in such manner in all respects, as you shall think proper, and may retain out of the proceeds the amount then due to you, with interest thereon after the rate aforesaid, and all costs attending the said sale, and may demand and claim of me any balance that may remain unpaid by the means aforesaid. (Signature of pledgor.)

I, the undersigned (pledgee), agree to hold the said shares upon the terms and conditions before mentioned.

Memorandum of a Pledge of Articles as Security for a Loan. To

of

I hereby deposit with you the articles specified in the annexed schedule as security for the payment to you of my note of this date, for the sum of dollars, payable in months, with per cent. per annum; and I

interest thereon at the rate of

hereby authorize you, in the event of the nonpayment of said note at maturity, to sell the same at public or private sale, at such time as you may think proper, without giving notice to me of the time or place of sale; and out of the proceeds thereof, after paying all expenses attending such sale, to retain the amount of said note, both the principal and interest thereof, paying the residue, if any, to me. Dated this

18-.

day of

Memorandum of Pledge of Shares of Stock, with Power of Sale.

and

I have this day deposited with & Co., of the certificates numbered respectively shares held by me in the ment to the said

at the rate of

that the said

bankers,

of

Company, for securing the pay

& Co., on demand, of the sum of

dollars this day advanced by them to me, with interest thereon per cent. per annum; and I declare and agree & Co. shall have full power, if the said sum of dollars and interest shall not be paid on demand as aforesaid, to sell the said shares for the best price they can obtain for the same, at public or private sale, and in such way as the said & Co. may think fit. Dated, etc.