4. Discount Ticklers. The ticklers cover a period of one year, and one tickler is assigned, say, to each month. Two or three pages, depending upon the volume of business, are devoted to a day, each page having columns as follows : For whom discounted; rate; maker; amount; whether individual, bank, purchased, or acceptances; and where payable. Country items are usually sent for collection about ten days before maturity, and a receipt for all such items is given by the country collection department. When paid in advance, a note is at once transferred from its regu lar due date to that upon which it is paid and a memorandum made in the proper columns of the discount ticklers and the discount ledger. Similar action is taken in case a past-due note is paid. If partial payment is made, only the amount so paid is entered in the column and is brought forward under the day of payment.
A separate tickler may be kept for acceptances, with columns to distinguish acceptances of the bank and of other banks.
5. The Offering Book. In this book is entered a full de scription of the paper. It gives a complete history of the offering and must be correct in every detail. The offerings are arranged alphabetically as to individuals, banks, and purchased paper names, and are entered as follows: for whom discounted; indorsers, if any; total amount of offering; rate; maker; number of days to run; due date; amount; discount; exchange; and where payable.
When all notes have been entered, the gross amount of offerings is footed, and also the total amount of discount, and these two items are proved against the ticket by which Bills Discounted are charged and Discount account credited. The book is ruled off weekly (if the directors meet weekly), and the week's total amount of bills discounted and of discount, together with all notes discounted, are sent to the directors' meeting.
6. Maturity Books. It is the purpose of these books to show at a glance the maturity of all paper discounted by the bank. They are for the use of the officers. At the close of business each day all notes paid are marked off and all notes discounted entered.
7. The Bills Receivable Book. In this book is kept a re ord of all bills receivable held as collateral to notes discounted or received by the loan department. These bills are entered under their respective due dates, and there are also recorded the dates when the notes were received, from whom, the maker, and the amount. Should any of these pledged bills fall due before the maturity of the borrower's collateral note, they must be sent for collection a few days before they mature, and care must be taken that sufficient other notes are received in substitution to maintain the proper margin of collateral.