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134
BOARD OF GOVERNORS
CF THE
FEDERAL RESERVE SYSTEM
R-896
WASHINGTON
ADDRESS OF"F"ICIAL CORRESPONDENCE
TO THE BOARD
September 30, 1941
Dear Sir:
Enclosed for your consideration and comment are several copies of a tentative draft of a Registration Statement as provided for
in section 3(c) of Regulation W. This draft has been prepared qy the
staff but has not yet been acted on by the Board.
After Registration Statements have been filed qy all registrants with the Federal Reserve Banks, it is contemplated that some
s.ystem of regular periodic reports, to be filed bJ specified classes
of registrants, will be instituted. It is not intended, therefore,
that the Registration Statement be the sole source of information to
be obtained from registrants. The statement calls for nothing more
than basic data which wi:l-4. serve, among other purposes, as a "bench
mark" for future reporting.
It will be appreciated if you will conside~ this tentative
draft at your early convenience and let the Board have the benefit of
any suggestions within a week after receipt of this letter, using your
own judgment as to whether to consult persons outside yotU' Bank.
Copies of the enclosed draft are also being submitted for
comments and suggestions to the various interested Government agencies
and to the principal national trade associations whose members will
have to register.
Ver'J truly yours,
Enclosures
Chester Morrill,
Secretary.
tO THE PRESIDENTS OF ALL FEDERAL RESERVE BA."lKS
Draft of 9/30/'q I
Form F. R. _
Date
"
REGISTRATION STATEMSN!
This statement Is filed with the Federal R~serve Bank of the District in which the a~sin office of the
undersigned is located for the purpose of beco•lng licenaed as a Registrant In accordance with the provisions
of Regulation· W issued by the Board of Governor's pursuant to E>cecutive Order No. 881t3 Issued by the President
of the United States relating to consumer credit.
----------------------------------------------------------------------·--------------(Name of Registrant {print or type)}
(Street Address)
(City)
(state)
(Before answering questions please consult the instructions on the reverse side of this form.)
10
11.
Indicate by check mark whether Registrant is an individual _____, p.rtnershlp _____, corporation _____ , er
other ----•
General nature of business
(Place 3 check mark by the principal business
of Registrant)
A. Financial busi~ss
1. Sales finance company
2. Commercial bank or trust company
3. Industrial bank or loan company
'q• Personal finance or small loan company
5. Credit union'
6. Other financial business (specify)
e.
111.
Dealer, contractor, or other business
7. Dep.-tlllllnt or genet" a I store
s. Automobile dealer
9. Furniture or house furnishings store
to. Househo14 appliance or radio store
Electric or gas utility co~any
12. Hardware or automotive accessory store
13. Dealer or contractor in heating, plumb•
ing or aircondltioning equipment
J'q. Dealer or contractor in other constl"uction or repair materials
15. Manufacturer (specify type of product)
"·
16.
IV.
V0
Other (specify} ____
Credit outstanding and salea
A.
Registrants in classes I to 6 pleaee report the unpaid balance of retail and
personal instalment paper held on September 11 19~1
I. Retai I Instalment
paper purchased. • ••• $
R11tai
I Instalment sale
2.
credit extended directly $
3. lnstala11mt cash loans. •. $
B.
Registrants in classes ·7 to 16 please report the folfowing data relating to their
retail sales&
4. Sales, 12 months·endlng
August 31, 1941 • • • • • $_________
s. Of the salea reported in item 4, approximately ____ per cent was for
cash, ____ per cent on charge account
or open book credit, and ____ per
cent on instalment credit.
6 0 Unpaid balance of retail
instal~nt credit held
September 1, 1941. • • • $_ _ __
7. Unpaid balance of other
retail credit (open accounts, etc.) held
September I, 1941 • • • • $_ __
Did you have any branches on September 1, 1941?
If so, how many?
(Please attach a list of branches and their addresses, unless the Registrant is a bank insured by F.D,.I.C.)
Is Registrant controlled by any other company?
(Name of controlling company)
(City)
(Address)
(State)
(Please print or type here the name and official title
· of the person whose ai gno.ture appears at the right)
If so, please fi II int
(Type of business)
(Authorized signature)
~
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136
INSTRUCTIONS FOR REGISTRATION STATEMENT
(Numbered to correspond with questions on ReglstPatlon Statement)
Nue of Rtgistran~··fn case the trada name of Registrant is different froll the legal name of proprietor,
pleaee give both naMes.
!!!..... fnllhlment credit Ia credit for which the agreed rotpayment is in two or more parts. Instalment
nlu are sales 111ade on instat111ent credit.
Where the Registrant hae no 11mount to report write "none"• Buslneues which were not in operation
on Septembe~ 1, 1941, please answer question Ill for such date as is convenient, clearly Indicating the date
used. A business concern organized to succeed another concern doing similar business should report for the
concern succeeded, if possible.
'
.!J.!:.!••..aatai I instalment credit {Items I and 2) should Include the unpaid b.alances of alI Instalment
credits arlsjng from !ht ceUII ule gf an~ tecurtd by Jrtjs;l!lfe whtJh!£ or oot f!s}td in RtSHif!laa p, such as
autoaabiles, trucks, household appliances, furniture, clothing, jewelry, etc., and it should include loans for
building repair or modernization (whether or not insured under FHA Title I and whether or not secu,ed). Any
such retail instalment ~aper purchased fro• or rediscounted for dealers or others should be reported in ltea
111-A~I ~• loans made directly to consumers for the purchase of and securfd by auch articles should be reported.
in III·A~2. Qg n2t lnc!yde any loans made to dealers and finance companies on their own promissory notes, even
if secured by the pledge of Instalment paper.
Personal instalment cash loans should include the unpaid balances of all secured and unsecured
loans which were made to Individuate and used for auch pwrposea is consolidation of debts, ~dlcal attention,
general personal expenditures, etc. (but do not include any loans reported In item 111-~2).
Any hypothecated paymtnta or deposits which are for the purpose of retiring loans should be deducted before reporting the unpaid balances of such loana.
111-B.~.--Give net retai I sales figure (gross sales less returns and dillcounte}, but do not deduct trade~
Ins. A store should include sales of leased departments. A Registrant which is engaged in manufacturing or
other b,usiness should report only the ulu which it lUkes at retail. An electric or gas utility colllpany should
ellclude sales of electricity or gaa and report only its other retai I sa lee.
A C$ncern which was in business on Septeaber I but was not In ope~ation throughout the 12 aontha
ending August 31 1 19ijl, should report sales for only th~t p~t of the period for which It operated, indicating
clearly the length of such period•
111-8•5.-·Do not Include as cash sales the down•pay-.nt on Instalment sales. Sales on open accounts
should represent ••ekly, end-of-month or other open credit ulcs. con instalment sales include the dow,..payaent
(whether cash or treda.in} as well as the amount deferred. Include total lnatslment sales r•sJtdlesa of whethtr
the Raeer is dlsc2unted qr sold or htld.
111-8·6 and 7e••Re~all Instalment paper should repre$ent the unpaid balances of all Instalment receivables arising from retai I aales by the Registrant, including sales of automobiles, trucks, household appl ianoesl.
furniture, clothing, jewelry, building repair and modernization (whether or not insured under FHA Title f), etc,
Retail instalment paper reported by a Registrant should include such paper even If pledged aa security for loans to the Registrant but should not Include paper sold to a bank, finance co~~~pany, or other fl•
n::~ncial business with or without recourse.
"Other" retail credit ahould be reported similarly. In cue a
Registrant, in addition to holding receivables arising out of Its own retail sales (reportable against items
6 and 7 in group Itt-e), also holga reselvabi!J which ttr• RUr~hated or phlph !CQS8 from len~lng by the BesiJtrant, the receivables Gf the lstte~ types should be reported against the appropriate ite~s In group 111-A.
(Some Registrants..•sueh as some 111anufacturers or public uti llty co~~~p,nles--aay have no retail sales or retail
credit to report under group 111·8 but should report their purchased paper or loans t.~nder group III•A.)
In case the Registrant is unable to determine el<actly, withQut undue inconvenience or eKpense, 1
the division of Its receivables between Instalment and open book credit, it may be estimated.
Y,.-':'Fur the purpose of this registration state•ont a Registrant is "controlled by any other co~~pany" If
SO per cent or more of Ita stock Ia owned or contf'o I Ied by the othe~ company,
Authoriz!d Slgnatyrt--Thls report may be signed by any off1clal ordin..-lly authorized to sign atateaente.
for the Registrant,
BQ!t~--Section 3(d) of Reguiatlon Wprovides In part as follows:
"The license of any Registrant may, dter.rea•onable notice and opportunity for hearing,
be suspended by th• Board, either In its entirety or as to particular activities or particular
offices or for specified periods, on·any of the following Jroundsl
(1} Any material mis$tatement or omission willfully or negligently made
in the registration statement, , 0 0 • , 11
@FedFRASER