a record be lost or misplaced. Where such records are used, it is a good plan to have printed forms of receipts, one of which the person taking the form signs and puts in the place from which the form is removed, thus showing who is responsible for that particular document until it is replaced.

Some companies use a probate settlement docket, the standard form of which is shown in Fig. 6. The headings and sample entries are selfexplanatory. This book is indexed for months, and thus serves as a tickler to show settlements due each month on this particular class of trusts. All probate trusts are here entered, so that the book contains a complete record of settlements of such trusts.

The use of this docket is of course unnecessary if the large form of trust register is adopted, and a suitable general trust tickler used, as all the information here contained, and more, is easily recorded on the register. It is of advantage where, for any reason, it is deemed important to keep such memoranda regarding probate trusts separate from those of trusts received from other sources.

It should be said that there is great difference in the ways in which various companies use their trust registers. Some make the memoranda exceedingly brief, depending upon reference to the papers in the trust at frequent intervals. Others have lengthy entries made, even copying wills and other documents in full. In favor of this practice it is urged that many trusts, especially as trustee under wills, may last for twenty or thirty years, during which time the documents may become misplaced or worn by constant usage. In case of the loss of the original paper the verbatim copy becomes invaluable.

The book of original entry for all transactions in the Trust Department involving cash is the General Journal of the Trust Department. This book is really, in its main usage, simply a cash-book; but usage differs in the matter of arranging the debits and credits as for a cashbook or as for a journal. The ordinary journal form suffices for the work, and for small companies is not only cheaper than specially-ruled books, but is also quite as convenient. Most of the larger companies, however, use specially-ruled books; the chief purpose of the rulings, aside from the matter of appearance, being to separate different classes of accounts. Figure 7 represents a Trust Journal, or rather Cash-Book, arranged with separate columns for the accounts of "Bond Trusts," of "Court Trusts" and of "Sundry Trusts." The company which uses this book conducts all its trust work through one department, but maintains three trust ledgers-one containing the accounts of bond trusts (i. e., trusts in which the company acts as trustee under bond mortgages, involving the payment of coupons and of bonds when due), another containing the accounts of court trusts (i. e., trusts received by appointment of court), and the third containing the accounts of all other trusts for

FIG. 7.-LEFT-HAND PAGE OF GENERAL TRUST JOURNAL OR CASH-BOOK.

which cash is handled. It will be seen that the arrangement of this cash-book makes convenient the posting of the items to the three ledgers, inasmuch as a glance down any column shows what items are to be posted to the ledger in hand.

The three small columns at the left of each page are for posting marks. The first of these columns, headed "Special Accounts," is for use with those items that must be sub-posted to any other than the regular ledger accounts, such as rents, items for the Loan Register, etc. In the ledger a complete set of books is kept for each trust, just as the owner

FIG. 7.-RIGHT-HAND PAGE OF GENERAL TRUST JOURNAL OR CASH-BOOK.

of the trust might keep them for himself. Each item in the general cash book therefore appears in the individual ledger of its proper trust as both a debit and a credit. The columns in Figure 7 headed "Individual-Dr.-Cr." are for the marks of postings to these accounts. In the figure the entries are numbered for convenience in describing the entries: these numbers would not appear, of course, in the regular use of the cash-book. Thus, in the left page of Figure 7, entry No. 1 would be posted first as a debit to the cash account of the Smithville Bond Pool, and a check mark made in the Dr. posting column. It would then be posted to the credit of Syndicate Subscriptions account of the Smithville Bond Pool, and a check mark made in the Cr. posting column. Of the remaining entries on the left page, the debits would all be made to the cash accounts of the several trusts. The credits would be made as follows: Entry No. 2, to the Income account of the trust concerned; entry No. 3, to income; entry No. 4 to the Bonds account, and if the bonds are sold at a profit, the excess over the cost would be posted to the credit of the Profit on Bonds account; entry No. 5, to the Coupons account and to the Bonds account. In entry No. 2, the items would be sub-posted to the rent ledger under the account for each piece of property, and the check marks of the postings placed in the Special Accounts posting column. In entry No. 3, the interest on the mortgage would be sub-posted to the Loan Register, under the account for this mortgage.

In the right-hand page of Fig. 7, the credits for all the entries would be made to the cash accounts of the several trusts. The debits would be made as follows: Entry No. 1, to Coupon account of the trust involved; entry No. 2, to the account of Mary Trowbridge, if remittances are regularly made to her; or, if remittances are not regularly made, to the Expense account; entry No. 3, to S. S. Smith, Syndicate Manager; entry No. 4, to Expense and Repairs accounts, respectively; entry No. 5, to Repairs and O. R. Gates accounts, respectively. The Repairs items in entries Nos. 4 and 5 would be sub-posted to the Rent ledger under the accounts of the properties involved, a separate account being kept of the expenses and repairs on each piece of property. It will be noted that a voucher is kept for each item of expense, the vouchers for each trust being numbered consecutively.

With this journal, as already stated, ledgers are used in which a complete set of "double entry" books is kept for each trust. The ledgers, which are preferably loose-leaf books, are indexed by tabs on the edges of the leaves, and after the tab index for each trust are inserted as many ledger leaves as may be required. The number of accounts carried for each trust depends, of course, upon the character of the trust. It may require the carrying of only Cash and one other account, such as Principal or Income. It may be necessary to add to these such accounts as Bonds, Stocks, Mortgages, Real Estate, Individuals, etc. Under this plan the cash account will of course contain a memorandum of every cash transaction affecting the trust, and it therefore serves as the basis

for rendering statements of account either to the court or to beneficiaries or to the maker of the trust. Some companies call this account the Bank account rather than the Cash account..

For these ledger pages any of the forms shown hereafter may be used. If only one form be used, as is practicable, though not entirely convenient, that shown in Figure 16 is probably the most useful, being adapted to different kinds of accounts, and containing columns for both debit and credit balances.

Inasmuch as the character of the business done in trust work for court. trusts differs considerably from that done for corporation trusts and others, many companies, as already stated, divide the trust work into two divisions, and use different styles of records in the two divisions. Figure 8 represents a journal form used in the corporations division of the trust

department. The general arrangement of the page is one which is coming to be used extensively for various purposes both in trust and banking departments. Both debit and credit items are brought on to the same page; and the space for names and descriptions being in the center, the writing of the names of accounts is often avoided in cases where there are both debits and credits to be made to the same account. It also causes the name of each account to stand out prominently on the page. The object of the extra column headed "General Accounts" is to facilitate the separation of accounts which for any reason are to be treated differently from the regular deposit accounts, or of accounts which are carried in a separate ledger. For example, the total funds of the department are carried as Bank account, which is of course a general account made up of the cash balances of all the accounts in the departThese funds are carried by some companies in their banking de

ment.