Identifier: modernbankingmet00barr (find matches)
Title: Modern banking methods and practical bank bookkeeping; illustrated with over two hundred forms of bank books, records and blanks
Year: 1903 (1900s)
Authors: Barrett, Albert R
Subjects: Banks and banking
Publisher: New York, Bankers Pub. Co.
Contributing Library: Robarts - University of Toronto
Digitizing Sponsor: University of Toronto

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ting on only one side, be signed by each member of thecommittee, and be pasted in the minute book under its proper date,as an original document, and should be accompanied by the actionof the board upon the matter. Stock Certificate Book. After the subscriptions to the stock have been received, the sub-scribers are expected to pay for their stock in installments, as hasbeen shown in a previous chapter on ** Organization. Receipts should be given each subscriber for their various pay-ments, these receipts to be returned to the bank after the final pay-ment, and upon the issuing of the stock certificates. But on no ac-count should any certificate of stock be issued until the shareholderhas fully paid for the shares to which he had subscribed. The certificates of stock should always be bound in book form,one on a page. They should be numbered consecutively by themanufacturer, as should also the stubs, which should be made tocontain a very complete record. BOOKS AND RECORDS OF THE BANK. 53
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54 MODERN BANKING METHODS. I have seen cases where the certificates were loose. This is acareless and unsafe practice, and has been a temptation to over-issuestock. It is extremely necessary that a very careful record be kept ofthe issue of certificates of stock; and as many transfers of stock willtake place, it becomes also necessary that a careful record be kept ofthem. A good form for a certificate of stock is shown by Fig. 2. A form of power of attorney or assignment for the sale or trans-fer of the stock should be printed on the back of the certificate asfollows: Know all men by these presents, That the undersigned, for value received, do hereby irrevocably constitute and appoint to be true and lawful attorney for and in name and behalf to sell, assign and transfer unto or any other person or persons shares in the capital stock of The Merchants National Bank op Centre City, Pa. And further, one or more persons under to substitute with like power. In witness whereof, have hereunto

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