with which the entries are made, as shown in the figure. The abbreviation "Comp." at the upper left-hand corner refers to the compensation received by the company for its services. Most of the entries are selfexplanatory. It will be noticed that the memoranda opposite the headings, "in case of default trustee may" and "in case of default bondholders may" are not extended. The utility of extended memoranda on such points is doubtful. If action is to be taken in these matters, such action HISTORY All other property to Ir turned into cash and divided equally George William Brown, Jr. Mary Spencer Brown Henry Watterson Brown } children. Address of all, grestown, N.Y. Homestead, 216 acres near Jonestown, Brown Co., n.y. 20000 school bonds, city of Rochester, M.Y. $25000 stock Fake 137145 Cash in First Trust Co. Jonestown, N.Y. Household goods and personal property per inventory. May 12, 1900. At conference with heirs and Probate Judg., decided that it is wise to await mory favorable time to sell property. Sept 27, 1900. House and barn on homestead burned. Dee 3, 1900. Recsind insurance money on above from Farmers Ins. Co. 16, 1901. Sold R.R. stock and school bonds. Feb. July 30, 1901. 4, " " personal effects on homestead at auction: Fake Mining Ca stock for " 1? to Stay W. Brown. Apl. H, 1902. Made final disposition of property, per terma Apl. 10, 1402. Filed final account. TRUST CLOSED Apl 10, 1902 FIG. 4. should be put in the hands of the attorney of the company, and he will not be content with less than a study of the trust deed itself. Especially will this be true if there is any question regarding the interpretation of the instrument. It is a safe rule never to put into the trust register any memoranda regarding whose correctness there might be the least question. The blank space is much more useful than such a memorandum, and capable of less damage. On the reverse side of the leaf the record is continued with the following headings: "In case of sale," "liability of trustee," "sale or exchange," "delivery of bonds." Fig. 4 shows a page adapted to record of trusts received through the probate court. The first part calls for the same information as in Fig. 1. Under the "list of property in trust," need be given such property only as is not itemized on the trust ledger. Some companies put into the ledger only the cash in the trust; others add the securities at the appraised value and some at the face value, and some include all the property in the trust, items of uncertain or doubtful value being listed at the nominal appraisal of one dollar. The last plan is a safeguard against overlooking any item of the trust property. If this plan is followed the list of property in the register may be omitted. Under the head of "memoranda" are entered any special remarks regarding the terms of the trust, matters to be attended to and, if desired, the names of the beneficiaries, regular remittances, etc. The best usage, however, is to enter the latter memoranda on a page preceding the account in the trust ledger, as will be described later. Indeed, some companies register their trusts only on pages (like that shown in Fig. 2, or blank pages) which are inserted in the trust ledger, thus keeping all memoranda regarding each trust in one place. In such cases a numerical index to trusts must be kept in a separate book. Under "history" should be given a complete record of all essential matters in the administration of the trust down to the time of its final disposition. The careful keeping of this record is of great convenience and importance. It should contain such matters as important conferences with the makers or beneficiaries of the trust, changes in the written agreement, death of interested parties, etc. When necessary the history should be continued on the reverse side of the leaf. For the registering of trusts for which neither of these forms is adapted, blank pages should be used, the entries to be dictated by the trust officer or other experienced person. It is convenient to have these blank pages ruled as in Fig. 2 or Fig. 4. A convenient size for these pages for use in a loose-leaf binder is 153% by 13% inches. Fig. 5 gives the first page and an outline of the other pages of the form used by another large company, on a somewhat different plan. This form is made of card-board, size 54 by 10% inches, containing eight pages and no cover. At the top of the second page is the heading "terms of the trust and powers of trustee." The third page is divided into three equal parts, with the headings shown in Fig. 5. The fourth page is headed "history," and this is to be continued as far as necessary on the remaining five pages. These forms are arranged in numerical order in specially prepared files, which contain only the live trusts, the forms being removed to a transfer file as each trust is closed and its record completed. This plan is convenient in that when one wishes to consult the record of a given trust he may remove the form from the file, and have the record in compact and convenient shape without the handling of a large book, and without interfering with the work on other trusts. It requires care lest a 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 |