View PDF

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).

a this
s

Maximum of $..................................... on........................................................ , 19......
Minimum of $.....................................on.......................................................... 19......
On merchandise $ ..........................................; on machinery,

ife Insurance on Officers for Benefit o f Company.

Name of outside auditor.................................................................................................
Date of last audit............................... Date of fiscal year end................................
Suits, Judgments and Other Legal Actions.

Description of all such

$ .................................

purities (Stocks, Bonds, e tc .).

space

pending, outstanding or remaining unsettled against this corporation:....
Description of each investment, and
Incorporation.
:gistered in name of ...................................................................................................
otes Payable. Description of security given......................................................

fo
rm

This corporation was organized under the laws of the

Capital Stock Outstanding (o n statement date).
Common S tock:..........................................shares..............$ ..........................................

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

Number o f Shares Owned
Annual
Compensation

Title

Common

Preferred

Identify

each

$

separate

Dividends accumulated and unpaid ............................$ ..........................................

eferred Liabilities (Bonds, etc.).

Attach

ccounts Payable. Past due...........................................................$ ............................

each

assets, pledged as security to mortgages or covered by liens, not dis-

this

intract to buy merchandise in the amount of $...............................................;
hich goods are worth $..........................................at present market prices.

Description of all property, including current

o
n

:ld, not included in balance sheet $ .......................................... W e are under

M ortgages, Liens, etc.

whenever

ow moving or obsolete goods $ ...................................... Goods held by us

schedules

lished goods $..................................... ; supplies, etc., $ ......................................

i insufficient.
s

Liability Insurance. Automobile property damage $ ..........................................
personal liability $............................ General public liability $ ............................
Autos and trucks owned or operated without insurance.....................................

schedule

sam
e

equipment, furniture, fixtures, etc. $ ......................................................................

sign

Fire Insurance.
rcounts assigned, pledged or hypothecated $ ...................................................

ad
n

Past due, but less than 90

statement; date

ccounts Receivable (From Customers).

this financial

Terms.

part of

Considered collectable within 90

a being
s

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. B4-20M2-B
.
- 0
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 c this fo
n
rm is insufficient.
Identify each schedule a being part o th financial statement; date a d sig each schedule sam a th form.
s
f is
n
n
e s is

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

H
at

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
http://fraser.stlouisfed.org/ 40M 2-50
Federal Reserve Bank of St. Louis

(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 ... . - . .........




1
9....
(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' management
s
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.

Check statements for accuracyReview statement with borrower and obtain his
explanation for any unexplained items of consequence.

B.
C.

3.

Transcribe figures to comparative form and analyze trends
and financial condition.
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.

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 .

ETC.





Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102