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Banking Practice and Foreign Exchange

Banking Practice and Foreign Exchange


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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1910 Excerpt: ...should be sent to the county clerk's office by the bank's attorney immediately after execution, and the attorney's receipt therefor filed in an envelope with the bond, the insurance policies and other papers. The number of the mortgage and such other data as may be found desirable should be noted on the outside of the envelope. A good form of mortgage record is shown in Figure 104A on page 215. This book is eleven inches wide and eighteen inches long, thus giving considerably more room for the interest and other records at the bottom. Many trust companies have a valuable list of deposits in trust for estates, minors, incompetents and others, which they must keep invested, and they find real estate mortgages an excellent form of investment. It is not always possible to find a mortgage for the exact amount needed to invest the surplus funds in a given trust, so they divide one of their own mortgages between themselves and the estate. These sub-divisions are called participations. It is customary to fill out a printed form or write a letter stating that the company has set aside such and such a portion of a certain mortgage as an investment for the estate and to file this declaration with the papers in connection with the trust, retaining the original mortgage papers in the company's own files. A loose-leaf ledger form with provision for participations is shown in Figure 105 on page 217. There is very little difference in the machinery of handling a bond and mortgage for investment and loaning on a note secured by a bond and mortgage. In this case the borrower is usually the mortgagee instead of the mortgagor. He holds a mortgage running in his favor and wishes to borrow some money for immediate use. He does not wish to dispose of his investment, so makes a no...


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Product Details
  • ISBN-13: 9781151910028
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 86
  • Spine Width: 5 mm
  • Width: 189 mm
  • ISBN-10: 1151910023
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 168 gr


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