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are shown in Figures 196, 197 and 198. The headings of the columns make these figures self-explanatory. It will be noted that the ledger shown in Figure 197 separates accommodation and commercial paper, while that shown in Figure 198 separates paper on which the customer is maker from that on which he is endorser. The object of this record is to show the amount of paper that is being carried for each customer, so as to prevent any one from getting more than his proper amount of credit; and also to show the kind of paper usually offered by the customer and the parties whose paper he handles.

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to the order of Charles S. Spring
Three hundred and fifty
at The Fourth Trust Company

at

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-per cent. per annum, payable semi-annually.

No.

Due 8/6/06

To the

6

Dollars,

Value received, with interest

Walter J. Moon

FIG. 199. COMMON FORM OF NOTE.

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For the purpose of procuring credit from time to time from you for our negotiable paper or otherwise, we furnish you with the following statement which fully and truly sets forth our financial condition on the........ day of ..190...; which statement you can consider as continuing to be full and accurate unless We agree to notify you promptly of any change that materially reduces our pecuniary

notice of change is given you. responsibility In consideration of the granting of such credit, we agree that if we at any time stop payment or become insolvent, or commit an Act of Bankruptcy, or if any of the representations made below prove to be untrue, or if we fail to notify you of any material change as above agreed, then and in either such case all our obligations held by you shall immediately become due and payable without demand or notice, and the same may be charged against the balance of any deposit account kept by us with you, we hereby giving a continuing lien upon such balance of deposit account from time to time existing to secure all our obligations held by you.

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Specify any of above assets or liabilities pledged as, or secured by, collateral, and state collateral..

FIG. 200.-FORM FOR STATEMENTS OF BORROWERS.

A common form of a note is shown in Figure 199.

Applicants for discounts are usually required to fill out statements showing the condition of their business, as a means of determining the amount of credit, if any, which it is safe to give them. A standard form for such statements has been adopted by the American Bankers' Associa tion, which is shown in Figure 200. This form is for the use of corporations asking for accommodation. The form for individuals and partnerships is much the same, except that it omits the items applicable only to corporations.

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FIG. 200.-FORM FOR STATEMENTS OF BORROWERS (Continued).

The determination of lines of credit is a difficult task, and if done on a large scale requires a special equipment. The larger banks maintain separate credit departments devoted to this work and furnished with ample equipment. The subject belongs to a treatise on commercial banking rather than the work of the trust company, and readers interested are referred to discussions of the credit department of banks in current banking periodicals and in published books on the subject.

INVESTMENT RECORDS.

To a larger extent than banks, trust companies usually invest a portion of their funds in bonds and standard stocks. Journal records of

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