ure 212 shows a form of such a check. Sometimes the check is signed only by an officer, and sometimes it is signed by an officer and countersigned by a teller. Record of the issue of official checks may be kept either on the stubs of the check book or on an official check register. The latter is of the same form as the draft register shown in Figure 214, ex THE CITY TRUST COMPANY. Dear Sir 2 POULAN, GA.. Nov. 21, 1906 RA. Smith Cashion Enclosed find draft as mentioned belous in payment of the following collections: YOUR NO. DATE OF LETTER 2147 Nov 15 · F. 2054 2218 Very Respectfully, PAYER M. A. WILLIAMS, CASHIER. Now Is. F. J. Wallonie 17 Brown B A. Q. Cefilo AMOUNT 16349 150 12750 FIG. 209.-COLLECTION REPORT AND REMITTANCE LETTER. OFFICIAL CHECK cept that the columns for exchange are omitted. The ledger account of official checks is kept sometimes on the general and sometimes on the individual ledger. Unless an official check register is used, the ledger account should give the detail of each check issued. It is also well to enter the debits on this account opposite the original credits, as in the case of the certified check ledger account shown in figure 224. Buffalo, N. Y., Nov. 9, 1906. PLEASE REPORT ON THE FOLLOWING COLLECTIONS: DRAFTS ON BANKS AND TRUST COMPANIES. Like banks, trust companies find it necessary to keep an account with some bank, banker or trust company in New York city. The larger companies usually have several such accounts in New York and also carry accounts in Chicago and other large cities. It is also customary to carry accounts with one or more local institutions. Figure 213 shows a common form of draft against such an account. Record of the issue of such drafts is kept in a draft register, a form of which is shown in Figure 214. In large institutions a separate register is kept for each correspondent, or at least for each of the chief correspondents. The smaller institutions often use one register only, assign Merchants Savings & Trust Company Pittsburgh, P. October 9, 1904. No. $1000 IMPORTERS &TRADERS NATL BANK, NEW YORK, N.Y. FIG. 213.-NEW YORK DRAFT. DRAFTS DRAWN ON The Twentieth National Bank, New York. ing the necessary number of pages for the drafts drawn on each correspondent. Ledger accounts are of course kept with each bank on which drafts are drawn. When a customer wishes a draft on New York or other city he makes application to the draft teller, sometimes verbally; but many companies, especially in the larger cities, require that he present his application in writing. Figure 215 gives a form for such an application. CERTIFICATES OF DEPOSIT. Trust companies are often called upon to issue certificates of deposit, which in certain cases are more convenient for the customer or the company, or both, than either a savings or a checking account. These certificates usually draw interest, and are not subject to check. A common form is shown in Figure 216. Interest ceases at maturity, and if the owner of the certificate does not wish the money and wishes interest to continue, he must get a new certificate. Some companies issue special certificates of deposit which bear interest under certain conditions until paid, much like a savings account. Certificates are sometimes issued which do not draw interest; and some certificates are payable on demand, while others are payable on or after a certain date. If the number of certificates issued is small, the record of their issue is often kept only on the certificate stubs and in the general ledger. It is more common, however, to use a certificate of deposit register. A number of forms of this record are in use, varying in the amount of detail given. The simplest form contains columns for the number of the certificate, date of issue, payee, amount and date of payment. Figure 217 shows a longer form in common use. Figure 218 shows a form of register designed to keep the detail of the account so that the general ledger account need show only the total debits and credits for each day. Whatever form of register be used, the date of payment of each certificate should be promptly entered in the register. Companies which are partial to the card form of records use cards for the registering of certificates of deposit and show in the general journal or the general ledger, or both, the names and numbers of certificates issued and of certificates paid. Figure 219 shows such a card record. The interest record is kept on the back of the card, the headings of the columns being Number, Date, Amount and To, the latter heading referring to the date to which interest is paid. The cards are filed alphabetically according to the names of the payees. CERTIFIED CHECKS. Like banks, trust companies are often called upon to certify the checks of depositors, the amount of this work varying with the customs |