The card form of Tickler has many important advantages over the book form, among which are these:

For matters requiring attention at regular intervals (monthly, quarterly, semi-annually, etc.), but one card need be used for each item. When the business is adjusted for one period, the card is moved forward to the next period. Where a book is used, separate entries of the memorandum must be made for all of the periods, which in the case of a monthly item would mean twelve entries each year for perhaps a number of years. If it be urged against the card plan that the clerk entrusted with the duty may neglect to forward the card, or may misplace it, it may be urged that he may also neglect to write the memorandum in each of a number of necessary places in a book Tickler, or may write it in the wrong place.

Where preliminary attention is to be given a matter some days or weeks before final attention is called for, the card is placed under the first date, and when attended to is moved to the second date. Thus, an item due on the 20th of the month may require notification on the 6th.

Where an item of business called for by the Tickler of today is for any reason not completed, it is only necessary to move the card forward to the next day in the Tickler, instead of writing a new entry in a book.

In trust work, items often need to be "tickled" years in advance. This is done easily with a card Tickler, less easily with a loose-leaf book; and is practically impossible with a bound book, without a separate book for each year, requiring a number of volumes on hand.

With the card system each item or group of items may have a separate card, which is a great advantage over the book system, where sev

FIG. 27.-RECEIPT FOR STOCK LEFT FOR TRANSFER.

eral dozen items occur on one page. There is much less liability of overlooking any item where each has a separate card than where there are a number of items on a page, some of which may be "dead" items. The card Tickler is expansive. If a day's work involves need for two or three hundred items, the card-case will hold the cards. If a day occurs on which but one item is to be ticklerized, but one card need be inserted.

The most obvious objection to the card Tickler is the possibility that a card may be lost. The possibility of such a thing can hardly be denied; but its danger is often overestimated. The best testimony to the safety of the system is the fact that many companies which have used the card system for years have found it safe, and are wedded to the system.

In Figure 24 is shown a Tickler card for general use. It has no printing-simply lines for writing, as the character of the memoranda to be made varies so greatly that printed headings are not useful. There are certain classes of items, however, that recur so frequently that special forms may be desirable. Figures 25 and 26 illustrate two such forms, that shown in Figure 25 being for Coupons Due, and that shown in Figure 26 for Insurance Expirations.

REISSUE OF ABOVE STOCK WILL BE DELIVERED TO BEARER, OR ORIGINAL STOCK RETURNED, IF TRANSFER CANNOT BE EFFECTED, ONLY ON SURRENDER OF THIS RECEIPT.

FORMS FOR THE TRANSFER OF STOCK.

When a stock certificate is brought to a transfer agent for transfer, a receipt for same is given to the person who brings it. Figures 27, 28 and 29 show different forms for this receipt. The receipt shown in Figure 27 is provided with a stub. In the use of the two others, a copy is made by means of a carbon sheet, the copy being taken on paper of a different color from the original. These receipts are for temporary use only, and are to be surrendered when the new certificate is delivered. The new owner of the stock is then to sign the receipt on

the stub of the certificate book. It very often happens, however, that the owner does not himself come for the certificate, but sends a messenger. In such case, the messenger's receipt is taken, and with the certificate is sent a receipt to be signed by the owner. Forms for this receipt are shown in Figures 30 and 31. It is preferably of small size, not over four by two or three inches, as it must be pasted on the stub of the certificate book. This transaction is evidently open to the objection that the messenger sent for the stock may be irresponsible or

not well known to the company which acts as transfer agent, and the company may hesitate or refuse to entrust to him the certificates representing great value. The form of receipt shown in Figure 29 is designed to meet this difficulty. To the receipt from the transfer agent is attached a stub containing a receipt which is to be signed by the owner of the stock or by some person known to the transfer agent as being responsible; and without such signature the new certificate will not be delivered. This plan protects the transfer agent and works no inconvenience to the owner of the stock. The receipt shown in Figure 28

has a good point in the wording at the bottom-"Reissue of above stock will be delivered to bearer, or original stock returned if transfer can not be effected, only on surrender of this receipt." It sometimes occurs that the transfer can not be effected, and in such case it is well that the transfer agent should not appear to be committed to the duty of making the transfer.

RECEIVED from the BOWLING GREEN TRUST COMPANY, the

following certificate of stock of the.

Electric Fraction Co.

The transfer clerk now cancels the certificate handed in for transfer, after satisfying himself that the transfer is properly authorized, issues a new certificate or certificates, and makes the proper entries on the Stock Transfer Book, a common form of which is shown in Figure 32. Some companies have this book bound in permanent form with an index either in the book or in separate form. Others use the loose-leaf plan, which is better, the index being in the shape of tabs on the edges of the leaves. The record of transfers for any number of companies-up to the capacity of the binder-are thus kept under one cover. plan is sometimes followed of having a separate Stock Transfer Book for the stock of each concern for whom the company acts as transfer agent. The general form for the pages in such case does not differ materially from that shown in the figure.

But the

Figure 32 illustrates a customary way of making the transfer entries. The first entry shows the cancellation of certificate No. 619 for fifty shares in the name of John Doe, and the issuance of certificate

No. 2214 for the same number of shares in the name of Richard Doe. The record of the new certificates is entered opposite that of the old one cancelled. The second entry shows the cancellation of a certificate for 100 shares, and the issuance of two new certificates for fifty shares each. The third entry shows the cancellation of three certificates for a total of 100 shares, and the issuance of one certificate for the 100 shares. The fourth entry is a little more intricate. Certificates for ten and twenty-five shares, respectively, are cancelled; the ten shares and twenty of the twenty-five shares are transferred to a new certificate for thirty shares. The remaining five shares are added to the twenty-five shares of the next certificate cancelled, and issued in a new certificate for thirty shares. The effort is to keep the record of certificates issued opposite that of the cancelled certificates from which the shares are transferred, so that the source of each certificate may be plainly shown.