When the holder of shares of a corporation sells his stock, and the purchaser wishes the transfer recorded on the books of the company he must present to the transfer clerk at the office of the loan and trust company the stock of the seller. This stock becomes the voucher of the transfer clerk, showing his authority for making the transfer.

Record of

Mortgage Bonds of the Bee Line R. R. Company.


Bonds Received.



Rec'd from the Bee Line R.R.


Company per Jacob Trusty, President, 150 First Mortgage Bonds, Nos. 1 to 150 inclusive. To be issued according to the terms of agreement, in installments of ten each, upon completion of ten-mile sections of said railroad.


Par value, $ 1,000.




On pages 286 and 287 the formular arrangement of a register for recording transfers of stock certificates is given. The form on 286 represents the left-hand, and on page 287 the right-hand pages of such a register. The headings over the several columns serve to explain fully the nature of the entries to be made in the book. The blank line at the top of the right-hand page is left for writing the title of the corporation from which the certificates are issued. The register is kept by the trust clerk. A separate register is kept for each corporation.

Loan and trust companies' records of mortgage bonds of corporations are made in a book with the ordinary journal-rulings, a column being added for giving the number of bonds received and issued. The form on page 288 represents the left-hand, and the form on page 289 the right-hand page of such a register. These books are merely books of record and do not form any part of the general set of books kept by loan and trust companies.

Much of the bookkeeping of loan and trust companies is similar in character to that of banks and bankers generally. These corporations often do a large banking business, and have dealers who keep running accounts. They more generally, however, have the accounts of a class who do not so frequently disturb their deposits.

Held in Trust and Delivered by the.....



Loan and Trust Co.


1884. Bonds Delivered.





To J. C. Smith 3 Bonds at





To A. Goodfellow 2 Bonds


at market value of $ 900...





To John Topheavy 5 Bonds


at market value of $ 900...





Depositors with such companies as a rule are paid interest on their credit balances. This requires a slight alteration in some of the usual banking books to make them available. The dealers or depositors' ledgers, for instance, are ruled with special columns for crediting interest on deposits.

The other records are kept through the use of an ordinary set of double-entry books. Of the various trusts managed by such companies there are required to be entered in the books of account only such items as affect the revenues and conducting expenses. The "Trust Account" is a record of the revenues arising from this department of the companies services, etc.