The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FED ERAL RESERVE BANK
O F NEW YORK
/■Circular N o . 3 6 2 8 1
LD e ce m b e r 15. 1950 J
SIMPLIFIED COMMERCIAL CREDIT FILE
T o A ll Banks and Trust Companies in the
Second Federal Reserve D istrict:
During the past year a special committee of the New York State Bankers Association has been
developing a simplified commercial credit file, intended particularly for banks of small or moderate
size. In the course of its development the file was carefully tested in actual practice by a number
of volunteer banks, and it was submitted to supervisory authorities for suggestions. The aim was
to produce a file which would contain all the information needed to make a sound loan, yet be
simple and easy to maintain.
W e are pleased to respond to the request of the New York State Bankers Association to under
take the distribution of this file to banks in the Second Federal Reserve District, confident that
it gives us an opportunity to help many banks in the district in serving the credit needs of their
communities.
The file consists of a special folder and the following form s:
Financial statement form (this is the same form we have been supplying to member banks)
Analysis form (for comparing financial statements)
Original history sheet
Continuing history sheets (for recording current and pertinent data)
A sample file is enclosed, together with a sample credit memorandum form in which loaning
officers can record information obtained during interviews with customers, an explanation o f the
various form s, and instructions for setting up and maintaining the file.
During recent years bank loan portfolios have increased substantially; the average amount
of individual loans has also increased and the need for sound loan supervision is therefore greater
today than ever before. In addition, borrowers have a right to expect that their good credit
standing and the bank’s favorable experience with them be a matter of permanent record at the
bank with which they do business. The use of the credit file will not, of course, guarantee the
quality of loans made — that will still depend upon the judgment of the individual banker and his
directors. However, the ready availability of properly maintained credit data, together with the
knowledge and judgment of management, should enable a bank to satisfy the credit needs o f its
community and to grant to borrowers the credit to which they are entitled without exposing the
bank to undue risks.
W e are prepared to furnish the credit folders and form s mentioned above, separately or in
sets, upon the following basis:
Folders will be furnished in any quantity at a cost of 10<f each.
Forms will be furnished without charge to all banks.
Credit memoranda will be furnished in pads o f 100, at a cost o f 25tf per pad.
An order form is enclosed on which you may indicate the
folder and of each form you m ay wish for current use. W e will
to install credit files or to review their present credit analysis
assistance may be directed to the Bank Relations Department of
number of copies of the credit
be glad to assist member banks
procedures. Requests for such
this Bank.
A
llan
S
proul,
President.
Form
(lU vliad February 1938)
FINANCIAL
Statement Form Suggested by
Federal Reserve Bank of New York
STATEM ENT
C O R P O R A T IO N
(Short Form)
of
NAME
.A D D R E SS
B U S IN E S S ____
TO
___ B A N K O F ________________
____________
We
make the
follow ing
statement
of
all
the assets and
liabilities
of
this corporation
at
the close o f
business o
the................................................ ..... day o f....................................... , 19...... , and give other material information for the purpose of obtaining advanci
on notes and bills bearing our signature or endorsement, and for obtaining credit generally upon present and future applications.
(PLEASE COM PLETE A L L SCHEDULES A N D FILL IN A L L B L A N K S ; IN SE R T ''N O N E " IF A PP R O P R IA TE .)
ASSETS
LIABILITIES
Notes Payable to Banks
$
Cash
$
On hand, and unrestricted in banks
Notes Receivable
Notes Payable to Trade Creditors
from Customers
Given for merchandise, equipment, etc.
G ood , and readily collectable
Notes Payable to Others
Accounts Receivable from Customers
Except officers, stockholders and employees
Current and collectable
Merchandise
Loans on Life Insurance
Life Insurance, Cash Surrender Value
Accounts Payable
W ithout deducting loans
D ue to Officers, Stockholders, Employees
Securities, Readily Marketable
Stocks, bonds, etc., at present selling value
Due to Subsidiaries and Affiliates
Taxes and Assessments
(Itemize above other current assets)
Mortgage and Bonded Debt
Total Current Assets
Due and payable within one year
Accrued Liabilities
Land and Buildings
For wages, interest, insurance, etc.
W ithout deducting mortgages or depreciation reserves
Machinery, Epuip’t, Furniture, Fixtures, etc.
W ithout deducting depreciation reserves
(Itemize above other current liabilities)
Accounts and Notes Receivable
Total Current Liabilities
From customers, slow or doubtful o f collection
Real E sta te M o r t g a g e s Payable
Investments in Subsidiaries and Affiliates
Due and payable after one year
Not including loans, advances, accounts, etc.
Due from Subsidiaries and Affiliates
Other deferred liabilities (describe)
Due from Officers, Stockholders, Employees
Total Liabilities
Reserve for Depreciation
Capital Stock
Surplus
Total Assets
Total Liabilities and N et W orth
S
, 19
S T A T E M E N T O F P R O F IT & LOSS for period beginning
Inventory, Beginning o f Period
and ending
Inventory, End of Period
S
S
19
S
N et Income from Sales
Net Purchases
Operating Expense
Income from Investments
Officers’ Compensation
Income from Commissions
Bad Debts Charged Off
Other Income (Item ize)
Depreciation Charged O ff
Other Administrative, Selling & G en’l Exp’se
Reserves Created
N et Profit
Total
N e t Loss
s
Total
R E C O N C IL IA T IO N O F E A R N E D SURPLUS for period beginning
S
19
and ending
Earned Surplus, Beginning o f Period
Deductions from Earned Surplus (Itemize below )
Additions to Earned Surplus (Itemize below)
...........s
Total Additions ..............................
Total Deductions
.(U se next colum n).__
N e t Surplus C h a n g e ___________
Earned Surplus, End of Period
http://fraser.stlouisfed.org/
CR. 7.6 25M-2-50
Federal Reserve Bank of St. Louis
(
c o n t in u e d
o n o t h e r sid e )
19
(C O N T IN U E D PftOM O TH ER SID E)
iontingent Liabilities and Commitments.
jw s :
This corporation has no contingent liabilities or commitments outstanding against it, except as fol-
Notes and Accounts Receivable, Trade Acceptances, Conditional Sales Contracts, etc., discounted, or sold with recourse $..................................... ;
s Accommodation Endorser or Guarantor $..................................... ; on Mortgage Bonds $ ...................................... ; in connection with Law Suits, including
orts, Injuries, etc. | .......................................... ; in connection with Leases $ ......................................; claims for Taxes $ ......................................Commitments to
iuy $ .......................................... Commitments to Sell $..........................................
Description and Location o f Each Parcel
Amount of
Fire
Insurance
Assessed
Value
Amount o f
Mortgages
Taxes, Assessm'ts
Mortgage Interest
Due and Unpaid
The legal and equitable title to all the real estate listed in this statement is solely in the name of the undersigned cor-
form.
Selling terms ...................................................................................................
Purchasing terms ............................................................................................................
Maximum and Minimum Liabilities (during last fiscal year).
as this
Maximum of $..................................... on........................................................ , 19......
Minimum of $.....................................on.......................................................... 19......
On merchandise $ ..........................................; on machinery,
Date of last audit............................... Date of fiscal year end................................
Suits, Judgments and Other Legal Actions.
Description of all such
$ .................................
purities (Stocks, Bonds, e tc .).
Description of each investment, and
Incorporation.
:gistered in name of ...................................................................................................
otes Payable. Description of security given......................................................
This corporation was organized under the laws of the
Capital Stock Outstanding (o n statement date).
Common S tock:..........................................shares..............$ ..........................................
ccounts Payable. Past due...........................................................$ ............................
Dividends accumulated and unpaid ............................$ ..........................................
eferred Liabilities (Bonds, etc.).
Surplus (on statement date).
Description of security given ........
Unearned or Capital Surplus ..........................................$..........................................
ibsidiary and Affiliated Companies and Interests.
There are none, except the following (names and relationship):
fficers and Directors.
Name
form
space
pending, outstanding or remaining unsettled against this corporation:....
this
Name of outside auditor.................................................................................................
on
ife Insurance on Officers for Benefit o f Company.
Number o f Shares Owned
Annual
Compensation
Title
Common
Preferred
Identify
each
$
each
assets, pledged as security to mortgages or covered by liens, not dis-
whenever
intract to buy merchandise in the amount of $...............................................;
hich goods are worth $..........................................at present market prices.
Description of all property, including current
schedules
:ld, not included in balance sheet $ .......................................... W e are under
M ortgages, Liens, etc.
separate
ow moving or obsolete goods $ ...................................... Goods held by us
Attach
lished goods $..................................... ; supplies, etc., $ ......................................
is insufficient.
Liability Insurance. Automobile property damage $ ..........................................
personal liability $............................ General public liability $ ............................
Autos and trucks owned or operated without insurance.....................................
schedule
same
equipment, furniture, fixtures, etc. $ ......................................................................
sign
Fire Insurance.
rcounts assigned, pledged or hypothecated $ ...................................................
and
Past due, but less than 90
statement; date
ccounts Receivable (From Customers).
this financial
Terms.
part of
Considered collectable within 90
as being
Totes Receivable (From Customers).
schedule
itle to Real Estate.
Other (describe): ..........................................................................................................
Estimated
Present Value
,and and Buildings.
edge, Assignment and Transfer o f T itle o f Assets.
A s of the date of the statement of assets and liabilities included in this financial statement,
■ne of the assets of this corporation as listed herein were pledged, assigned, hypothecated, nor had the title thereto been transferred, except as
ted in this financial statement; and none of the assets of this corporation have been since that date pledged, assigned or hypothecated, nor has
; title thereto been transferred, except as follows:
W e , the undersigned, hereby certify that the foregoing statement of assets and liabilities and the statement of profit and loss and
conciliation of surplus, are taken from the books of this corporation and that they are in accordance with said books and that they
d all other statements printed or written on the two sides o f this sheet have been carefully read and are true and give a correct showg o f the financial condition o f the corporation as of the date of the balance sheet hereinabove contained, except where a different date
specifically noted. I N T H E E V E N T O F A N Y M A T E R IA L C H A N G E I N T H E F IN A N C IA L C O N D I T I O N O F T H IS C O R P O R A O N , W E A G R E E T O N O T I F Y S A ID B A N K I M M E D IA T E L Y I N W R I T I N G .
jned this...................................... — day o f------------------------------- 19---------- Signature — — --------------------------- ------ ..................... ............ ........................
B y ----------------------------------------------------------------------------------------------------------(Name and Official Title)
uy
Statement i'orcn
f o r d CK.& (Kevised i'curuary, 193&)
FINANCIAL
Federal Reserve Bank of New Yos
FIRM
STATEMENT
(Short Form)
of
NAME.
___ ADDRESS-
BUSINESS.____
___ BANK OF—
We make the following statement of all the assets and liabilities of our partnership at the close of business on tb
........................................... day of............................ 19 .............., and give other material information for the purpose of obtaining advances c
notes and bills bearing our signature or endorsement, and for obtaining credit generally upon present and future applications.
(PLEASE COMPLETE ALL SCHEDULES AND FILL IN ALL BLANKS; INSERT “ NONE” IF APPROPRIATE)
TO.___________
LIABILITIES
ASSETS
Cash
$
Notes Payable to Banks
S
---
On hand, and unrestricted in banks
Notes Payable to Trade Creditors
Notes Receivable from Customers
Given for merchandise, equipment, etc.
Good, and readily collectable
Loans from Relatives, Friends, etc.
Accounts Receivable from Customers
Current and collectable
Merchandise
Loans on Life Insurance
Life Insurance, Cash Surrender Value
Accounts Payable
W ithout deducting loans
Securities, Readily Marketable
Interest Due and Unpaid
Stocks, bonds, etc.. at present selling value
On notes, mortgage loans and other obligations
Taxes and Assessments Payable
Levied and not paid
Chattel Mortgages Payable
(Itemize above other current assets)
Real Estate Mortgage Debt (Current)
Total Current Assets
Payable within one year
Land and Buildings
Machinery, Equipment,Furniture,Fixtures,etc.
(Itemize above other current liabilities)
Total Current Liabilities
Reel Estate Mortgages Payable
Notes and Accounts, Due from Customers
Due and payable alter one year
Loans and Advances
Other deferred liabilities (describe)
Mortgages Owned
Total Liabilities
Securities, Not Readily Marketable
Reserve for Depreciation
Considered o f sound worth at value indicated
Net Worth
Total Assets
s
STATEMENT OF PROFIT & LOSS for period beginning
$
Inventory, Beginning of Period
Net Purchases
Operating Expense
Partners' Compensation
Bad Debts Charged Off
Depreciation Charged Off
Other Administrative, Selling & Gen’I Exp’se
Reserves Created
Net Profit
Total
$
RECONCILIATION OF NET WORTH for period beginning
Deductions from Net Worth (Itemize below)
Total Liabilities and Net Worth
%
19
and ending
19
%
Inventory, End of Period
Net Income from Sales
Income from Investments
Income from Commissions
Other Income (Itemize)
Net Loss
Total
S
19
and ending
Additions to Net Worth (Itemize below)
Loss for Period........................................S..............
Withdrawals............................................
Total Additions................................
...... .......... ..... ...
Total Deductions........................................... (Uoe next column).
Net Change In Net Worth.....................................................
Net Worth, End of Period................................................ .......................................................................................................
http://fraser.stlouisfed.org/
cn. B.4-20M-2-B0
CONTINUED ON OTHER SIDE
Federal Reserve Bank of St. Louis
.
19
COW H AU ivO F R O M U i n K K a lilit
Contingent Liabilities and Commitments. We have no contingent liabilities or commitments outstanding against us, except as follows:
and Accounts Receivable, Trade Acceptances, Conditional Sales Contracts, etc., discounted, or sold with recourse $------------------------- ; as
Accommodation Endorsers or Guarantors $ ------------------------- ; on Mortgage Bonds $--------------------------; on Bail Bonds $------------------------- ; in
connection with Law Suits, including Torts, Injuries, etc. $-------------------; in connection with Leases $ _____________; claims for Taxes $ __________
Commitm ents to Buy $ ________________ Commitments to Sell $.----------------------- Other (describe): ________________________________________
Notes
L an d a n d B u ild in g s
Description and Location of Each Parcel
Estimated
Present Value
Acres
Amount of
Fire
Insurance
Assessed
Value
t
S
Amount of
Mortgages
S
t
Taxes. Assessments,
Mortgage Interest
Due and Unpaid
J
ritls to Real Estate. The legal and equitable title to all the real estate listed in this statement is solely in the name or names of one or more o|
;he partners of this firm, except as follows:
Notes Payable.
Description of security given.-..............................
Loans From Relatives, Friends, etc.
Accounts Receivable (From Customers). Past due, but less than
50 Hays f
....................................; past due more than 90 davs
R
...
Mwr-handise
Description of security given—
Accounts Payable.
Securities (Stocks, Bonds, etc.). Description of each investment, and
Loans and Advances. T o whom made.-------------------------------------------Security held - ......................— --------------- When due---------------------
When due.............. . ......... .
_ ............................ ............... .......................
Past due $ _________ ______ _____________________
Maximum and Minimum Liabilities (during last fiscal year).
Maximum of $ .................... .. .
on_ ...... ................
, 19
Minimum of $.. ..
____on______
( T9
Fire Insurance. On merchandise $—
.................; on marhinMy,
equipment, furniture, fixtures, etc. $ ............. ...................................
Liability Insurance. Automobile prnpwty damage f
•
on hand or in transit, or otherwise
joods are worth $ ________ ____ - at present market prices.
Life Insurance on Partners for Benefit of Firm. S................................
.
Autos and trucks owned or operated without insurance._____________
Mortgages, Liens, etc. Description of all property, including current
assets, pledged as security to mortgages or covered by liens, not dis
closed elsewhere in statement.
____ ___
Accounting Information. Frequency of audit*?
Name of outside auditor... ............................ ..... ......
Date of last audit.......................
D a te of fiscal year **nd
Suits, Judgments end Other Legal Actions. Description o f all such
pending, outstanding or remaining unsettled against firm or any indi
vidual partner.—..................................... ........
Pledge, Assignment and Transfer of Title of Assets. As o f the date of the statement of assets and liabilities included in this financial statement,
aone of our assets as listed herein were pledged, assigned, hypothecated, nor had the title thereto been transferred, except as noted in this finan
cial statement; and none of our assets have been since that date pledged, assigned or hypothecated, nor has the title thereto been transferred,
ixcept as f o l l o w
s : _________________________________________________________________________
Dther Business Interests of Partners; and Affiliated Interests of Firm. There are none, except as follows:
Partnership. (State whether partnership operates under written Articles of Copartnership, or verbal agreement):
Date of Partnership Agreement------------- ------------------ - 19—— ; date of expiration------------------------------ - 19 -----Listed below are all the General and Special Partners of this firm:
Name
Annual
Compensation
from Firm
Age
Amount of
Capital
Contributed
Net Worth Outside of Firm
Date
Liabilities Outside of Firm
Direct Debt*
Liability aa
Including
Guarantor
Mortgages
Endorser, etc.
Amount
jeneral Partners
$
$
f
$
1
SpscLO Partners
Extent to which Special Partners are responsible for debts of this partnership, and to what date:
We, the undersigned, hereby certify that the foregoing statement of assets aad liabilities, statement of profit and loss, and reconciliation of
let worth, are taken from the books of this partnership, and that they are in accordance with said books, and that they and all other statements
printed or written on the two sides of this sheet have been carefully read and are true and give a correct showing of the financial condition of
[his partnership as of the date of the balance sheet herein contained except where a different date is specifically noted. IN THE EVENT OF
ANY MATERIAL CHANGE IN OUR FINANCIAL CONDITION, WE AGREE TO NOTIFY SAID BANK IMMEDIATELY IN WRITING.
this______________________day 01--------------------------------- 19 -------
ALL PARTNERS SHOULD SIGN
When There Is No Written Partnership Agreement
Signatures
(Firm and partners) -----------------------------------------------------
Attach separate schedules whenever space cn this form is insufficient.
Identify each schedule as being part of this financial statement; date and sign each schedule same as this form.
Notes Receivable (From Customers). Considered collectable within
jo Hayc f
............
.......; of slow or doubtful collectability
Statement Form Suggested by
Federal Reserve Bank of New Yc
INDIVIDUAL
Merchant, Manufacturer, etc.
Form GB.J {Revised November 1987)
financial
statement
of
(Short Form)
NAME.
BUSINESS.
-ADDRESS-
TO_______
-BANK OF.
1 moke the following statement o f all my assets and liabilities at the close of business
19____ _ aad give other material information for the purpose of obtaining advant
.day of.
on notes and bills bearing my signature or endorsement, and for obtaining credit generally upon present and future applications.
(PLEASE COMPLETE ALL SCHEDULES AND F IU . IN ALL BLANKS; INSERT “ NONE” IF APPROPRIATE.)
the
LIABILITIES
ASSETS
Cash
Notes Payable to Banks
$
On band, and unrestricted In banks
*
Notes Payable to Trade Creditors
Notes Receivable from Customers
Given fo r merchandise, equipment, etc.
Good, and readily collectible
Accounts Receivable from Customers
Loans from Relatives, Friends, etc.
Merchandise
Loans on Life Insurance
Life Insurance, Cash Surrender Value
Accounts Payable
Current and collectible
Without deducting loans
Interest Due and Unpaid
Securities, Readily Marketable
On notes, mortgage loans and other obligations
Stocks, bonds, etc., at present selling value
Taxes and Asseesmeots Payable
Levied and not paid
Chattel Mortgagee Payable
(Itemise above other current assets)
Real Estate Mortgage Debt (Current)
Total Current Assets
Land and Buildings
Payable within oae year
Without deducting mortgages or depreciation reserves
Mach., Equipment, Furniture, Fixtures, etc.
(Itemize above other current liabilities)
Without deducting depreciation reserves
Total Current Liabilities
Real Estate Mortgages Payable
Notes and Accounts, Due from Customers
Doe and payable after one year
Considered o f slow or doubtful oollection
Loans and Advances
Other deferred liabilities (describe)
Made to employees, relatives, friends, ete.
Mortgages Owned
Total Liabilities
§
Considered o f sou Ad worth at value Indicated
l
1
S
•
i
Securities, Not Readily Marketable
Net Worth
Total Assets
Total Liabilities and Net Worth
$
,1 9
STATEMENT OF PROFIT & LOSS for period beginning
Inventory, Beginning of Period
Inventory, End of Period
$
$
and ending
$
Net Income from Sales
Income from Investments
Income from Commissions
Other Income (Itemize)
Net Purchases
Operating Expense
Proprietor’ s Compensation
Bad Debts Charged Off
Depreciation Charged Off
Other Administrative, Selling & Gen’ l Exp’ se
Reserves Created
Net Profit
Total
* _________ ___
RECONCILIATION OF NET WORTH for period beginning
Net Loss
Total
1
, 19
and ending
Net Worth, Beginning of Period
Deductions from Net Worth (I
below)
Additions to Net Worth (Itemize below)
Loss for Period................................... $.
Profit for Period.......................................... $ -
Withdrawals ....................................... —
Additional Capital Furnished.................... —
Total Additions
Total Deductions .................................(Dm aext eolumn)
Net Change in Net W orth..............................................
Net Worth, End o f Period................................. .............................. ................................................................................................... $http://fraser.stlouisfed.org/
C R . 1 .B -4 0 M -1 0 -B 0
CONTINUED ON OTHER SIDE
Federal Reserve Bank of St. Louis
, 19
CONTINUED FROM OTHER SIDE
>ntingent Liabilities and Commitments. I hare no contingent liabilities or commitments outstanding against me, except as follows I
ites and Account* Receivable, T rade A cceptance*, Conditional Sale* Contract*, eto„ discounted or sold with recourse $ ..........
..A
Accommodation Endorser or Guarantor $. ...................... t on Mortgage Bonds
... .... ........| on Bail Bonds $ --------- ------- ------— ,— j In
nnection with Law Suits, including Torts, Injuries, etc. $
I in connection with Leases $.
.1 claims for Taxes
---- -— .... .... Commitments to Buy $ —
. . . . . . Commitments to Sell $
Other (describe);
a l E sta te . (L ist each pared separately as N o. 1, t, S. etc.)
Description and Location
Acres
Cost with
Improvement*
A ge and Condition
Fire
Insuranee
Assessed
Value
$
$
Estimated
Present Value
$
I
I
Second Hortgage
First Mortgage
Amount
Due Date
$
Amount
Third Mortgage
Due Date
Amount
Due Date
$
$
1 axes, Assessments
Interest Du*
$
Yearly Gross
Bental Income
Yearly Net Rental
Intome (Before
Depreciation)
$
$
1
\
tie to Real Estate. The legal and equitable title to all the real estate listed in this statement is solely in my name, except as follows*
?tes Receivable (From Customers), Considered collectible within
» days $--------------------------------- 1 o f slow or doubtful collectability
_________________ { pledged or discounted $ ...............
.. ■
Note* Payable. Description of security given.
ccounts Receivable (From Customers). Past due, but less than
I days $___________________________ ; past due more than 90 days
___________ I considered of doubtful collectability $
|
counts assigned, pledged or hypothecated
-- -- archandise; Date o f last physical Inventory —..........
made — .— .................................... ........ - —
,
■......—.—----------When due.
Accounts Payable. Past due $.
Chattel Mortgages Payable. Description o f property mortgaged,
isis of valuation_____ - ...
......... ......... ...... .....
......
iw materials $_________________ t in proeess | .
............. ...... >
lished goods $_________________ S supplies, ete. $ .
.
ow moving or obsolete goods $__________
Goods held b y me
i consignment $-___________
____________ t out on oonsignment to others
__________
- Merchandise on hand or in transit, or otherwise
'Id, not included in balance sheet $--------------------------- I am nnder
ntract to buy merchandise in the amount o f $------------------ j which
at present market prices.
tods are worth $.
fe Insurance (O n My L ife). Face amount $ime o f beneficiary—
■ .
.......
curities (Stocks, Bonds, etc.) Description of each investment, and
icther readily marketable at stated value*
Loans From Relatives, Friends, etc. Purpose for which loan was
and terms of payment .. .... ..................—
............... Terms. Selling terms
............. — .............—.......... ■ ■— ......... Purchasing terms
Maximum and Minimum Liabilities (during last fiscal year).
19.
Maximum o f $------------------------- on_
19.
Minimum of $—-------------- -------- on_
on machinery.
Fire Insurance. On merchandise $equipment, furniture, fixtures, etc. $ ., . —......... ...........
Liability Insurance. Automobile property damage $----personal liability $ ...... ...... ..... General public liability $.
Autos and trucks owned or operated without insurance.
Mortgages, Liens, etc. Description o f all property, including cutrent assets, pledged as security to mortgages or covered by liens,
...... ... ,......... .
not disclosed elsewhere in statement__ —
Accounting Information. Frequency o f audita............................. —~
Name of outside auditor._____ ___ __ _______ __ _ ______ _______ _
Date of last audit_______ ____ Date o f fiscal year end---------------- -Suits, Judgments and Other Legal Actions. Description o f all sueh
pending, outstanding or remaining unsettled; ................. .. ..
Other Business Interests. (D e s crib e )....................... — ...— ----Assets and Liabilities Outside o f This Business. My assets and lia
curities registered in name oL
>ans and Advances. T o whom made ............
bilities outside of the business, not disclosed elsewhere in this state*
ment, are as follows:
curity h e ld ...................... - ........,._When due_
Assets $___________________ Liabilities $.... ...... ....... ... —
ortgages Owned. First mortgages $_
Personal Status. I am aged___ years. Year this business started..
.General description o f
cond mortgages $
opertiesi............................
Marital status (single, married, etc.) .
—
.......... ....................
Name of wife (o r husband)................. - .............
......
edge, Assignment and Transfer o f Title o f A ssets. A s o f the date o f the statement o f assets and liabilities Included in this financial
atement, none of my assets as listed herein were pledged, assigned, hypothecated, nor had the title thereto been transferred, except as
>ted in this financial statement; and none of my assets have been sinee that date pledged, assigned or hypothecated, nor has the title
ereto been transferred* except as follows:
I,
the undersigned, hereby certify that the foregoing statement of assets and liabilities, statement of profit and loss, and reconcilia>ir of net worth, are taken from my books, and that they are in acccordance with said books, and that they and all other statements
inted or written on the two sides o f this sheet have been carefully read and are true and give a correct showing o f my financial eondiin as of the date of the balance sheet herein contained except where a different date is specifically noted. IN THE EVENT OF ANY
ATERIAL CHANGE IN MY FINANCIAL CONDITION, I AGREE TO NOTIFY SAID BANK IMMEDIATELY IN WRITING.
Signed this.
.day o f.
19 ------- .
Signature.
F orm C r. 107
Statement Form Suggested by
FIN AN CIAL S T A T E M E N T
Federal R eserve B a n k o f New Y o
PERSONAL
NAME.
O C C U P A T IO N
ADDRESS
T o : _____________
.B A N K O F
Hat
I snake th e fo llo w in g Hialement o f a ll m y assets a n d lia b ilities at th e c lo s e o f b u sin ess as o f th e .
., and g iv e o th e r m a teria l in fo r m a tio n f o r th e p u r p o s e o f o b ta in in g advan ces o n n o tes ai
19.
b ills b e a rin g m y sign a tu re, en d o rs e m e n t, o r gu a ra n tee, a n d f o r o b ta in in g c r e d i t g en era lly u p o n p resen t a n d fu tu re a p p lica tio i
PLEA SE
A N SW ER
A L L Q U E S T IO N S U S IN G “ N O ” O R “ N O N E ” W H E R E N E C E S S A R Y .
L IA B IL IT IE S an d N E T W O R T H
A SSETS
Cash
(S eeSched. N o . 1)
On hand, and unrestricted in banks.
Note* P ayable to B a n k s, Unsecured
Direct borrowings only.
1
(Sec Sched. N o. 1)
N otes P ayable to B a n k s, Seeuz-e<3
A ccounts an d L oa n s R eceiv a b le
Direct borrowings only. (See Sched. N o . 1)
(See Sched. N o. 2 )
.
1
...........
N otes R e ce iv a b le , D isco u n te d
N otes R e ce iv a b le , N ot D iscou n ted
W ith banks, finance companies, etc.
(See Sched. N o. 1)
(See Sched. N o. 2)
Notes P a ya b le to O thers, U n secu red
N otes R e ce iv a b le , D isco u n te d
W ith banks, finance companies, etc.
(See Sched. N o. 2 )
N otes P a ya b le to O th ers, S ecu red
L ife In su ra n ce, Cash S u rren d er V alu e
(D o not deduct loans.)
(See Sched. N o . 5)
L o a m A ga in st L ife In su ra n ce
(See Sched. N o. 3)
A cco u n ts P a ya b le
Securities— (S to c k s , B o n d s , e tc .)
(See Sched. N o. 4 )
M ortgages O w n ed
(See Sched. N o. 6)
R eal Estate
Interest P a ya b le
(See Sched. N o. 7)
T a x e s a n d A ssessm ents P a ya b le
(See Sched. N o . 7 )
B rok ers M a rgin A ccou n ts
Debit Balances.
(See Sched. No. 5)
M ortg a g es P a y a b le o n R eal Estate
(See Sched. No. 7 )
O th er L iabilities
A u to m o b ile s
Registered in Own Name.
O ther Assets
(Itemize)
(Itemize)
Net W orth
T otal Liabilities and Net W orth
T o ta l Asset9
SUPPLEM ENTARY
N o. 1. B a n k in g R elation s.
Name and Location o f Bank
Cash Balance ! Amt. of Loan
N o. 2 . A cco u n ts, L oa n s an d Notes R eceiv ab le.
Name and Address o f Debtor
SC H E D U LE S
N o. 5 . B roken Margin Accts.
(A list o f all my bank accounts, including savings.)
Amount
Owing
Name and Address of Broker
H ow Endorsed, Guaranteed or Secured
Amount of
Debit Balan
(A list o f the largest amounts owing u> m e.)
Age o f Debt
Description o f Nature o f Debt
I
Description o f Security Held
Date Pay
ment Bxpectt
N o . 3 . L ife In su ra n ce.
Name ot Person Insuted
Name o f Beneficiary
Name o f Insurance Co.
Type of Policy
N o. 4 . Secu rities O w n e d .
(Stocks, Bonds, etc., but not Mortgages.)
Face Value
(Bonds)
Description o f security
Registered in Name of
No. of Shares
(Stocks)
CR. 107 40M 2-50
(SEE OTHER SIDE)
Cost
Face
Amount
o f Policy
Total Cash
Surrender
Value
Present
Market Value
Total Loans
Against
Policy
Income
Received
Last Year
Amount ot
Yearly
Premium
Is Polic
Assignee
T o W hom Pledgee
(C O N TIN U E D FROM OTHER SIDE)
n. 6. Mortgages Owned.
2
(W rite down column for each mortgage)
3
4
sscripticn o f
Mortgaged Property
inopul Amount o f Mortgage.
srest D oe and Unpaid.
iis is a First, Second
a t
Third Mortgage?
m m o f Prior Mortgages.
ipaid Taxes, Assessments Due, etc.
sent Market Value o f Property
sessed Value o f Property
received, daring the past year, interest payments on the above mortgages o f $ ................ . and payments on principal o i f .
x 7. Real Estate Owned.
Location and Description o f Lead and Boil ding Owned
Second Mortgage
First Mortgage
Amount
Amount
Maturity
Maturity
Cost with
Improvements
Assessed
Valne
Third Mortgage
Amount
Maturity
Fire
Insurance
Estimated
Present Value
Taxes aad
Assessments
D ue and Unpaid
Yearly
O paxtiag
Expenses
Yearly Gross
Rental Income
J£2T£e
and Unpaid
Yearly Net Rental
(Before Depredation)
-
itle o f Real Estate.
The legal and equitable title to all pieces of above described real estate is in my name solely, except as follows:
■>. 8. liability Insurance.
Amount o f Coverage
Expiration Dale
Personal Injury, etc.,
v s o n a l Statu*.
I am aged...... ......years, am
murini,
Property Damage
have................... dependants, and reside at-......—
a w idow (er)
(A ddics*)
c o m e a n d E x p e n se . M y gross income from all sources during the past year, beginning.......... ......................... ........... , 19___ and ending
-------- -— ------------------ - 19— , amounted to $—------------------The personal living expenses of myself and dependents during this period
lounted to $-------------------- - and I had other fixed expenses for insurance premiums, interest on debts, etc., o f $>.................... , I expect no tro
•rtant changes in my income or expenses during the current year or next year, except as follows:
m tin gen t L ia b ility .
I have no contingent liabilities, as endorser, guarantor, or otherwise, except the follow ing:
(Give details.)
.its, Judgments and Other Legal Actions. I have outstanding o r pending against me no suits, judgments, or other legal actions and to
: best o f my knowledge no legal actions are to be started against me, except as follow s: (Give details.)
edge, Assignment, and Transfer o f Title o f Assets. As o f the date o f the statement of assets and liabilities, included in this financial
.tement, I had not pledged, assigned, hypothecated, or transferred the title o f any o f my assets as listed above, except as noted in the various
ledules o f this financial statement; and I have not since that date pledged, assigned, hypothecated, or transferred the title of any of my
eta, except as follow s: (Give details.)
I
have carefully read the foregoing statements, and all printed and written matter therein, and hereby certify that all the
ttements contained on both sides o f this sheet are known by me to be true and to give a correct showing o f my financial conLion, and that I bad no liabilities, direct, or contingent, business or accomodation, except as set forth in said complete statement,
d that the legal and equitable title to all assets therein set forth is in my name solely, except as may be otherwise noted therein.
Signed this.
.day o f ... . - . .........
19....
(Signature)
FEDERAL RESERVE BAN K OF N EW YORK
F o r m C R . 178-2M -10-50
ORDER
CREDIT
FORM
FILE
(C om m ercial)
Date
Federal Reserve Bank o f New York
Federal Reserve P. O. Station
New Y ork 45, New Y ork
Gentlemen:
Please ship us the follow ing:
Q u a n tity
.Folders— with fastener and section guides
@ 10f* each
(fastener in upper left corner o f folder)
.Com parison Statement F orm CR. 173
(N o Charge)
.Original History Sheet Form CR. 172
(N o Charge)
.Continuing History Sheet F orm CR. 174
(N o Charge)
.Credit M em o Pads Form CR. 177
@ 25^ a pad
(100 sheets to a pad)
FINANCIAL STATEMENT FORMS
-Individual— Short F orm CR. 1
(N o Charge)
-Individual— Long Form CR. 110
(N o Charge)
-Firm— Short F orm CR. 9
(N o Charge)
-Firm— Long F orm CR. 109
(N o Charge)
-Corporation— Short F orm CR. 7
(N o Charge)
-Corporation— L ong Form CR. 108
(N o Charge)
Check One in Payment o f F o ld e r s :-------- Check e n clo s e d ;-------- Charge Reserve Account
B A N K _____________________
ADDRESS-
( O fficial S ig n a t u r e )
C R I7 7 -S 0 M -1 2 -5 0
CREDIT MEMO
F ed era l R eserve Bank
o f N ew York
Credit D epartm ent
(T o be re c o rd e d in c re d it file)
C h e ck one:
D a t e _______________________
I
I S ta r t c r e d it file a n d
1.
I Copy
NAM E-
O r ig in a l
L O C A T IO N -
H is t o r y S h e e t
O ff ic e r 's In itia l---------------------------
B U S IN E S S —
Loan A m o u n t:
H is t o r y S h e e t
on C o n t in u in g
$
R a te
P la n f o r R e p a y m e n t:
P u rp o se o f L o a n (sta te if r e n e w a l):
E n d o rse rs o r S e c u rity :
C R E D I T I N F O R M A T I O N : (B o r r o w e r's h on esty, e x p e rie n c e a n d p ro sp e c ts; inte rvie w s, visits to p la c e o f b usiness, etc.; re a rra n g e m e n t o f o r ig in a l lo a n term s.)
( C r e d it In fo rm a tio n c o n tin u e d o n re v e rse s id e )
Outline of Procedure Suggested
For Establishment and Maintenance of
A Simplified Credit File System
For New Borrower
1.
Original History Sheet should be prepared on all new borrowers.
A.
Loan officer should obtain information of the following general
nature from the borrower during the initial interview.
1.
2.
34.
Purpose of loan proceeds
Proposed plan for repayment
Proposed endorsements or security
Previous business connections and experience of
borrower's management
5. Nature and general method of borrower's operations
and date of establishment of the business
6. Brief description of physical properties.
B.
The above information should be recorded on the Original History
Sheet with a statement by loan officer as to:
1.
2.
3.
C.
Method of Recording
1.
2.
3.
D.
Character and ability of management
Bank's previous experience with borrower,
including whether it has been entirely satis
factory or not
Ability of borrower to meet proposed payment
schedule and its prospects for future success
ful operation.
Direct dictation to stenographer
Penciled memorandum or notes for subsequent
transcription to History Sheet. In this
connection the suggested form of Credit Memo
may be of assistance
Recording devices.
Completed Original History Sheet should be inserted in folder
under guide "Information" and folder labeled with name and
address of borrower.
1.
Folders need not be prepared on loans under a
specified minimum amount. It is suggested,
however, the above information be obtained,
and recorded, on Original History Sheet which
can be filed in a general or miscellaneous folder.
2
E.
2.
A responsible clerk should be required to review the Discount
Register daily for names of new borrowers and should check such
names against files to ascertain whether Original History has
been prepared on each new borrower. The names of new borrowers
on whom Original History has not been prepared should be called
to attention of loan officer.
Comparative statement forms.
A.
At least one and preferably two financial statements as of com
parable dates should be obtained prior to disbursing loan
proceeds.
1.
2.
3.
B.
Transcribe figures to comparative form and analyze trends
and financial condition.
C.
Place statements and comparative forms in folder under
guide "Financial Statements" with comparison form on top
and statements filed chronologically with latest statement
on top.
Correspondence
A.
4.
Check statements for accuracyReview statement with borrower and obtain his
explanation for any unexplained items of consequence.
All correspondence relative to credit matters concerning the
borrower should be filed chronologically under guide
"Correspondence".
Maintenance of Continuing History Sheet as described below which should
be filed in front of the Original History Sheet in the folder.
?or Borrowers with outstanding loans
1.
Continuing History Sheets
A.
The substance of every conversation bearing on the borrower's
credit standing should be recorded on this sheet.
B.
Questions to be asked of the borrower respecting conditions,
prospects, or financial statements should be recorded on this
sheet for easy reference.
C.
Comments with respect to the loans by examiners in reports of
examination may be transcribed to this sheet.
3
2.
Comparative forms
A.
At least two financial statements, if available, should be
transcribed to comparative form as soon as possbile.
1.
3.
Correspondence
A.
4.
Review and analyze condition and trends
All correspondence should be filed chronologically under the
guide "Correspondence".
General
A.
Files should be easily accessible to loan officers.
1.
Files should be reviewed at each interview with
borrower.
2.
Analysis of current condition of borrower should
be made periodically by the loan officer and con
clusions reported on Continuing History Sheet.
3-
Action by Board or discount committee should be
recorded on Continuing History Sheet.
F e d e r a l R e s e rv e B a n k o f N ew Y o r k
C O M P A R IS O N S T A T E M E N T
NAME
L O C A T IO N
B U S IN E S S
ASSETS
C ash
N o te s R eceiv a b le fr o m C u stom ers
A c c o u n ts R eceiva b le — C u stom ers
D a te
M erch a n d ise o r In ven tories
L ife Ins. — Cash S u rren der V alu e
S ecu rities — R ead ily Saleable
TO TA L CU RREN T ASSETS
L and and B u ildin gs
M ach ., E qu ip ., F u rn itu re & F ix tu re s
In v e stm en ts — N o t R ea d ily Saleable
M iscellan eous
TOTAL
L IA B IL IT IE S
N o te s P a y a b le — B ank s
N o te s P a y a b le — T rad e
N o te s P a y a b le — O thers
A cc o u n ts P a ya ble
In te re st & O th er A ccru a ls
T a x e s & A ssessm en ts P a ya ble
C h a ttel M ortg a g es
T O T A L C U R R E N T L IA B IL IT IE S
R ea l E sta te M o rtg a g e s
T O T A L L IA B IL IT IE S
R e se rv e f o r D ep recia tion
N e t W Orth
(c a p ita l s to c k
& s u r p lu s
if c o r p o r a t io n )
TOTAL
C ash and R eceiva b les
T o ta l C u rren t A s s e ts
T o ta l C u rren t D eb t
E x c e ss o r D eficit o f C u rren t A ss e ts
C on tin gen t L ia b ilities
N e t Sales
N e t P rofit o r L oss
19
19
19
19
19
'4
FED ER AL RESERVE B AN K
F O R M C R -------------------
O F NEW
YORK
c o n t i n u i n g
C r e d it
B E
N A M E
L O C A T IO N
■TE
B U S IN E S S
http://fraser.stlouisfed.org/
IS M 1 2 - 8 0
Federal Reserve Bank of St. Louis
B R IE F .
H is t o r y
s h e e t
D e p a r t m e n t
S T A T E
E S S E N T IA L S
O N L Y
2
FED ER AL RESERVE B AN K
F O R M C R --------------------
OF
NEW
YORK
O r ig in a l
H is t o r y
C r e d it
s h e e t
D epartm ent
B E B R IE F . S T A T E E S S E N T IA L S O N L Y
NAM E
L O C A T IO N
B U S IN E S S
D A TE O F LO AN -
LO AN
AM O UNT-
RATE-
P U R P O S E O F LO AN
PLAN
FO R
REPAYM EN T
E N D O R S E R S O R S E C U R IT Y
CREDIT INFORMATION
E X P E R IE N C E A N D
H O N ESTY
OF BORROW ER! O U TLO O K
FO R
TH E
B U S IN E S S .
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