showing the balance due after the payment, so that such balance may be seen at any time without having to stop to figure up the total of payments made. Figure 187 shows a form of such a stamp.

The loan department should keep a special tickler for its work. The old-time bound book tickler may be used, but cards are much more convenient. Figure 188 gives a form of tickler card for maturities of time loans. A form of tickler card for insurance expirations has been shown in Figure 26.

Notices of interest due on loans should be sent to borrowers ten days or two weeks before such interest is payable. These notices need state

FIG. 187.-STAMP FOR ENDORSEMENT OF PAYMENTS ON NOTES.

only the total amount of the interest and the due-date; but it is more satisfactory to the borrower, and therefore often saves time in the end, to send a detailed statement, showing the principal, time, rate and amount of interest for each item. Figure 189 shows such an interest statement. When payment is made, the notice is stamped "Paid," and serves as the customer's receipt. Figure 190 shows a form having a stub attached,

The
Cleveland

Trust Company

MAIN OFFICE-No. 1 EUCLID AVE

THE INTEREST ON YOUR REAL ESTATE LOAN WILL BE DUE JUNE 15, 1906

KINDLY SEND YOUR CHECK IN ACCORDANCE WITH THE STATEMENT BELOW.

which is a convenience when a large number of interest payments are received in a short time. When the payment is made, the teller simply stamps the notice "Paid" with a rubber stamp bearing the date, tears off the stub and places same on a spindle. This makes it unnecessary to stop at the time to make a book entry of the payment; provided, of course, the customer remembers to bring the notice with him.

Figure 191 shows a form used for the record of interest due at the regular interest periods. The names of the borrowers are arranged in alphabetical order, and the sheets are filed in a loose-leaf binder. The details of the interest on each loan are shown, and from these sheets the stenographer copies the matter for the interest notices sent to borrowers. When the customer calls to pay his interest and has failed to bring the

interest notice, the amount due from him is easily ascertained from these sheets. In the last column, headed "Date Paid," the date of payment is stamped with a dating-stamp. The amounts in the column headed "Total Loans” furnish a trial balance of the loans on the date when the statement is made up.

Some companies keep a loan book in which are entered all loans in the order in which they are made. A form of this book is shown in Fig

ure 192. The loans are numbered in consecutive order without regard to their kind, real estate, demand collateral and time collateral loans being included, as well as discounts in cases where a discount business is conducted. This book is used principally by those companies which do not use a separate loan journal. When the latter is used the loan book is superfluous.

At each meeting of the executive committee, or finance committee, or whatever committee has the supervision of loans, a list of all loans made. since the last meeting of the committee is submitted, and the list is formally approved by the members of the committee placing their signatures.

EXECUTIVE
COMMITTEE

on the page. This record is a part of the minutes of the committee. In some companies the list is typewritten on a blank sheet or sheets of paper, which are filed in a loose-leaf binder. Figuure 193 shows a printed form for this use.

BILLS DISCOUNTED.

Although trust companies are in many states forbidden to discount paper, there are several states in which they are permitted to handle this business, and the necessary forms are therefore included here.

By some companies all applications for discounts are entered in an "Offering Book," wherein are shown the maker or makers of each note, the endorsers, the name of the person or firm by whom the discount is desired, the amount and time of the note, and any remarks which will aid in forming a judgment as to the desirability of the paper. A column is also provided in which to note whether the paper is accepted or rejected. But many companies dispense with the use of this book, and depend for this record upon the minutes of the finance committee.

When paper offered for discount has been accepted, it is entered in the Discount Register, a form of which is shown in Figure 194. This record shows all necessary data regarding each note. The notes are en

tered in the order in which they are received, and are numbered in consecutive order, the numbers being written or printed in the register, and from there copied on the notes.

At the close of the day the columns of the register showing the amounts of bills discounted and of discount or interest are footed for the day's work, and the totals are usually entered in the general journal directly from the register, although some companies prefer to have each note entered separately in the general journal from debit tickets furnished by the discount clerk. The credits for the Bills Discounted account on the general books are generally made from credit tickets furnished by the discount clerk; but discount registers are in use which provide for the record of discounts paid. If such a register is used, the general bookkeeper gets the total credits, as well as the total debits, for the Bills Discounted account directly from the register.

After a note has been entered in the register, a memorandum of its due date should be made in the discount tickler, a common form of which is shown in Figure 195. If preferred a card tickler may be used instead of the book.

The note should next be entered in the Discount Line Ledger (also called the Customer's Liability Ledger), three different forms of which