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LOANS SECURED BY STOCK OF TRANSAMERICA CORPORATION
(See page 8, insert 6, March 31,1939)

3,508,269.30

These loans are numerous and widely scattered throughout the various
branches and many of the individual loans, so secured, are classified i n
the branch reports of examination. The amount as shown represents, i n the
aggregate, the extension of credit dependent upon the stock of Transamerica
Corporation. I n the majority of cases they are loans made i n prior years
and many are workout problems dependent entirely on the security and are
carried i n an attempt by the management to effect a recovery on p a r t i a l l y
charged o f f assets through market appreciation i n the value of Transamerica
Corporation stock. The following i s a comparative schedule of the t o t a l
amount of loans secured by this stock:
COMPARATIVE SCHEDULE OE LOANS SECURED BY STOCK OE TRANSAMERICA CORPORATION
Date of
Examinations
Dec.3I-29
Jun.10-30
Feb.28-31
Aug.31-31
Mas?. 31-32
Nov. 9-32
" »10-33
cap.18-33
Jun.22-34
Feb.11-35
Oct. 7-35
Apr.27-36
Oct. H - 3 6
Apr.20-37
Aug.31-37
Apr.28-38
NOT.21-38
Mar.31-39

MAW

V
#40,064,358.69
26,683,141.24
20,941,703.76
15,104,423.35
11,010,253.77
9,594,093.07
8,831,763.24
7,418,552.89
5,110,770.65
3,984,154.79
3,840,856.30
5,828,887.8l#
6,026,140.9^
5,684,086*31
1,370,361.05
564,803.17
674,261.49
772,975,92

Shares
Pledged
1,697,165
1,500,318
1,609,120
1,609,553
1,418,385
1,389,460
1,386,502
1,197,656
997,685
804,396
778,195
972,383#
938,663#
$69,984
156,852
10i,0i3|
110,600
132,130

Shares
Pledged

««
B»
$17,057,610.19
12,496,757.48
30,413,252.16
10,271,027.96
9,524,571.37
7,916,201.29
8,155,215.68
6,936,943.43
4,634,967.39
4,489,748.47
3,950,531.21
3,575,540.49
2,798,243.26
3,203,483.49
4,786,941.33
4,252,420.82
4,037,044.77
2,735,293.38

*

*
*

**

**
**
**
**
**
***
***
***

Shares Pledged
"CM

453,650
361,680
822,536
863,937
816,025
658,342
808,806
780,793
701,936
684,794
542,068
429,300
330,.449
350,105
530,976
522,373
501,525
441,493

No record kept.
do
do
141,161
115,041
218,552
252,549
192,610
234,849
257,161
181,830
264,437
232,559
195,925
***

***
***

***

siAli

Loans secured by Transamerica Corporation stock only.

^B"

Loans secured by Transamerica Corporation stock and other collateral*
Dollar amount represents balance of loans dependent upon Transamerica
Corporation stock.

"C"

Shares of Transamerica Corporation stock held as collateral, upon
which no portion of the loan i s dependent.

(*)

Indicates t o t a l loans which are secured by Transamerica Corporation
stock and other collateral, and not the balance of loan dependency
upon Transamerica Corporation stock as indicated above under "B*1,




- 2 -

Transamerica Corporation and Subsidiaries Large Line - cont f d.
(**)

Basis for figuring the dependency of the loan upon Transamerica Corporation stock held as collateral changed to
the proportion: That the value of the Transamerica Corporation stock has to the total value of a l l the collateral
securing the loans, instead of, as formerly used, figuring
the entire uncovered balance of the loan as dependent upon
TAG collateral.
jj ow i n c i u d e s proportionate amount dependent upon TAC stock
regardless of the collateral position with respect to other
securities held as collateral.

jF

(#)




I t is significant that, contrary to announced policy in
regard to loans made upon Transamerica Corporation stock,
both the number of shares and the dollar amount increased
during 1936, when the stock market experienced accelerated
activity and a decided market value enhancement for Transamerica Corporation stock.