which will clearly show in an account with each subscriber the same data as is shown by his receipts.

After the bank is authorized by law to commence business and all instalments have been paid in, the subscriber should then surrender his temporary receipts, and in the place of these receive from the bank his "certificate of stock."

The following is the usual form for a certificate of stock. in a National bank, and the "stub" to which it is attached, which may be adapted, by changing the name or "title" of the bank to the case of any State bank, stock savings bank, or loan and trust company:

These certificates and their "stubs" should always be printed in book form, and before the certificate is detached from the stub and surrendered to the shareholder, the proper memoranda should be made on the stub, and the shareholder should sign same as evidence that he received the certificate or authorize some person to sign for him. Both certificates and stubs should be numbered alike, from 1 upward, sequentially, so that each certificate will have a different and special number.

The certificates should be signed by two officers of the bank authorized by the directors to do so, usually the president and the cashier. In some cases a clause printed on the face of the certificate requires that the certificate, after being signed by the proper officers, shall, before being issued to the owner, be registered by some other corporation selected for the purpose, and countersigned by one of its officers. This is intended to prevent any improper or dishonest issue of stock.

After a certificate has been issued in proper form to a shareholder, it represents "personal" property owned by him, but as it stands in his name on the certificate and on the books of the bank, he must, if he wishes to sell it or otherwise dispose of it, "transfer" it to the new purchaser or owner by "assignment" on the back, in the following form, which he must sign in the presence of a witness:

ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER FACE OF THE CERTIFICATE, IN EVERY PARTICULAR, WITHOUT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE NOTICE. THE SIGNATURE OF THIS ASSIGNMENT

Attorney

After the certificate has been properly assigned by the former owner, it should be taken or sent to the bank and surrendered, and a new certificate, showing the name of the new owner, issued in its stead. Unless this is done, the bank can have no knowledge as to what persons are the actual owners of its stock and entitled to receive dividends thereon, or are liable to be assessed to make good any impairment of the capital by losses, in cases where the law attaches such liability to the shareholders, as to those in National banks.

When a certificate is surrendered it should be so mutilated or "cancelled" as to prevent its improper reissue, and should be gummed to the stub from which it was originally torn, as evidence that it is no longer outstanding.

Usually a meeting of shareholders is held once a year, for the purpose of electing directors and transacting other business, and on special occasions to vote upon such questions as an increase or a reduction of capital or of closing up the business of the bank, which is called placing its affairs in "voluntary liquidation.”

As a shareholder frequently lives at such a distance from the bank as to make it inconvenient to attend meetings in person, he should in such cases select some person who will attend in person to represent him and cast his vote as he may instruct, and such a representative is called a proxy. the case of National banks, no director, officer, clerk, teller or bookkeeper of the bank is permitted by law to act as proxy. The appointment of a proxy is usually made in the following form:

In