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FEDERAL RESERVE BANK OF NEW YORK Circular No. 2001, November 25, 1939 Superseding Circular No. 1340 FINANCIAL STATEMENTS To all Member Banks in the Second Federal Reserve District: It has been the practice of this bank to furnish upon request financial statement forms for the use of member banks and their customers and as a convenient means of informing them as to the character of the credit information desired by this bank in connection with notes, drafts and other obligations offered to it by member banks for rediscount or as collateral security for advances. Recently the forms of financial statements for farmers have been substantially revised. The new forms have been developed with the aid of member banks and others informed in the problems of farm credit and are intended to set forth the complete, current financial condition of the borrower in a manner convenient for comparison and analysis. More complete information concerning financial statements and other data relating thereto which this bank may require to be filed with it will be found on the following pages. Copies of the new forms for the use of farmers are enclosed herewith and an additional supply will be furnished upon request. This bank is also prepared to furnish member banks without charge copies of any of the other forms of financial statements or supplemental schedules listed on the following pages. It is hoped that these forms will prove of service and of benefit to you. GEORGE L. HARRISON, President. INFORMATION RELATING TO FINANCIAL STATEMENTS The Federal Reserve Bank of New York has prepared for the convenience of member banks and their customers a number of forms of financial statements and supplementary schedules which will be furnished to member banks without charge. The following is a list of the forms: Description Financial Statement Forms: Individual (Merchant, Manufacturer, etc.) Individual (Merchant, Manufacturer, etc.) Firm ~ Firm Corporation Corporation Personal Farmer Supplements and Real Estate Schedules: Supplement to Farm Credit Statement Farm Real Estate Schedule Real Estate Schedule (General) Form Number Short Long Short Long Short Long CR CR CR CR CR CR CR CR 1 110 9 109 7 108 107 114 CR 115 CR 116 CR 91 The forms have been prepared with a view to making it as easy as possible for borrowers to furnish complete information bearing upon their financial condition and affairs. While it is not necessary that forms prepared by this bank be used, it is desired that the information submitted include all that called for on such forms and also any supplemental information which may be relevant. While the characteristics of various types of business differ materially, it is believed that one or another of the statement forms listed above can be readily adapted to particular types of business. It will be noted that in some cases a short form of statement, as well as a long form, has been prepared since in many situations the information called for on the short form will be sufficient. The new farm credit statement takes the place of the two previous farmers statements CR 8A and CR 8B. It contains a schedule of cash income and outgo, the use of which is optional, included in the statement at the suggestion of a number of bankers. It is believed a considerably larger number of farmers now take an annual inventory and maintain reasonably complete operating records than was formerly the case. The "Supplement to Farm Credit Statement" form, which contains a section covering general farm activities and also calls for information concerning certain specialized farming activities, is designed for use in cases where more detailed information is desired. The schedules regarding real estate owned have been prepared with a view to securing all necessary information concerning such ownership. One of these schedules is especially designed for farm properties while the other is for general use. When Statements Required Financial statements are required by the Federal Reserve Bank of New York with respect to any borrower whose paper is offered to it in amounts aggregating $1,000 or more. In certain circumstances statements may be required in connection with offerings aggregating less than $1,000, particularly where the paper offered by a bank consists very largely of notes aggregating less than $1,000 per borrower, in which case it will be desirable to submit statements supporting at least a substantial portion of the total offering. Date of Statement Decisions concerning the eligibility and acceptability of paper offered can only be made upon the basis of current financial information. Financial files should, therefore, be kept up to date, and ordinarily, paper offered for rediscount or as collateral should be supported by statements which are not more than one year old. So far as possible, statements should be prepared upon a fiscal year basis, and it is desirable that statements for successive years be prepared as of the same date unless the business has changed the terminal date of its fiscal year. If the offering bank has any reason to assume that the financial or credit situation of the business has materially changed since the last annual statement it should furnish this bank with a more recent statement reflecting the change. In all cases where, because of the seasonal character of the business or for any other reason, statements are prepared more frequently than once a year, it is desired that the most recent statement should be furnished. When statements of several related parties are submitted, as in the case of a parent or holding company with subsidiaries or affiliates, it is essential that balance sheets be prepared as of the same date and that information concerning operations cover identical periods. Subsidiaries or Affiliates The paper of a borrower with affiliations must be supported by a separate statement of the borrowing company. Paper of parent companies or their subsidiaries offered to this bank should also be supported by a consolidated statement. In such cases it is frequently necessary for this bank to require complete and detailed information showing separately the figures of each company in the group with the detail of any inter-company eliminations used to arrive at the consolidated statement. In the case of concerns indirectly affiliated but having substantial inter-company relations, there should be furnished separate statements of all related companies with the segregation of inter-company accounts. Endorsers or Guarantors When the financial responsibility of an endorser or guarantor is a substantial credit factor with respect to paper offered, a recent financial statement of the endorser or guarantor should be furnished in addition to the statement of the borrower. Certificate of Member Bank The statements furnished to this bank should be copies or duplicates the files of the member bank and each should bear a certificate of the member "This is a true copy of an original signed financial statement held Such certificate should be signed by an officer of the member bank who and whose signature is on file with this bank. of the originals held in bank reading as follows: in our files." is authorized to sign it Additional Forms for Special Purposes This bank has also prepared certain miscellaneous forms for special purposes as follows: 1. 2. 3. 4. 5. 6. 7. Summary of All Contracts Awarded and Uncompleted. Information Schedule Concerning Uncompleted Contract. Progress Schedule Concerning Uncompleted Contract. Instalment Business—Analysis of Sales and Accounts Receivable. Information Schedule—Real Estate Mortgage Owned. Weekly Schedule of Operations and Financial Information. Spread Sheets for Statements of Finance Companies: (a) (b) (c) Comparative Balance Sheets and Balance Sheet Ratios. Comparative Operating Data. Percentages. While these forms are not available in quantity, specimens will be furnished upon request. 3 Suggested by Federal Reserve Bank of New York FARM REAL ESTATE SCHEDULE Form CR 116 SUBMITTED BY TO BANK OF As a supplement to the financial statement of the undersigned showing condition as of , 19 LOCATION: This farm is situated in Town of , County of State of , on Road, city, which is . Kind of road: Description of electricity supply: Description of water supply: USE OF FARM AND MANAGEMENT: This farm is principally used for the following purposes: , miles from nearest village or The farm is under the direct control and management of the following relationship to the owner: OWNER: The legal and equitable title to the real estate described in this schedule is solely in the name(s) of TENANT: Name of tenant: since , 19 . Kind of lease: (State whether written or verbal) The yearly rental, including share arrangements, etc., consists of the following: , who bears This tenant has occupied the farm Date lease expires: , 19 . The rental account is settled up to , 19_DESCRIPTION OF LAND: Land class: Soil types: Total number of acres: , divided as follows: (Use spaces below) acres CROPLAND, used this year in the following manner: (State number of acres of each crop, using spaces below) acres FRUIT TREES (State number and age of each kind) _ ______ _ _ _ acres GRAPES, etc. (D(sscribe) acres PERMANENT PA STURE, which provides sufficient forage for the following number of livestock: _ acres TIMBERLANDS, < :overed by trees suitable for lumber, as follows: No. of Acres Kind of Trees Age of Trees _ No. of Board Ft. Fire Insurance $ acres WOODLANDS, covered by trees suitable for pulpwood,firewood,etc., as follows: No. of Acres Kind of Trees Age of Growth Cords Standing Fire Insurance $ acres POULTRY and FARM YARDS, ROADS, etc. acres ROUGH or UNCULTIVATED LAND, CUT-OVER WOODLAND, BRUSH, SWAMP, etc. DESCRIPTION OF BUILDINGS: There are situated on the farm the buildings described below: List Below Each Bldg. Size, or No. of Rooms Kind of Construction Age Operator's House Tenant House Replacement Value Present Condition $ Main Barn Other Barn Silo UNUSUAL NATURAL HAZARDS: The fjirm is not subject 1;o floods, erosion, etc., except as follows: C R H 6 20M 10-39 (Continued on other side) . Fire Insurance $ (Continued from other side) ACQUISITION AND VALUATION: The following information relates only to the land and buildings, and does not include machinery, implements, livestock or other personal property, unless specially stated. The present owner acquired this farm in the following manner: (List separately parcels acquired at different times) Year in Which Acquired Number of Acres General Description of Each Parcel How Acquired "Purchase", "Gift", "Inheritance", "Trade", etc. Full Purchase Price $ Amount Still Owing on Farm $ Under the present ownership, improvements to the land and buildings have been made costing $ following nature: (Describe briefly the improvements, and when made) , of the In the opinion of the undersigned, the land and buildings could be sold now for $ The assessed value for tax purposes, in the last tax year, 19 , was $ , and the amount of taxes that year was as follows: State, County and Town Taxes $ , School Tax $ , other real estate taxes $ . MORTGAGES, UNPAID TAXES AND OTHER LIENS: Mortgages outstanding against this real estate: (Fill in the table below) Present Amount of Mortgage First Mortgage Second Mortgage Third Mortgage Amount of Interest Due and Unpaid Rate of Interest Terms of Payment $ % $ $ % $ $ % $ % Mortgage Held by (Name and Address) $ Unpaid Taxes and Assessments on this real estate consist of the following: (Fill in the table below) Due for tax year of: State, County and Town Taxes School Tax Other Real Estate Taxes and Assessments 19 19 19 Total for All Years 19 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ No Tax Lien Certificates against this real estate have been sold by the tax authorities and are now outstanding, except as follows: Other Liens: There are no liens against this real estate other than those described herein above, except as follows: OTHER DEBTS OR CLAIMS AGAINST REAL ESTATE: There is owing on land contract or otherwise, not secured by mortgage, part of the purchase price of this farm to extent of $ , which according to agreement is to be paid in the following manner: (State time and amount of payments, and to whom payable) FORECLOSURE ACTIONS: None have been instituted against this real estate, and to the best knowledge of the undersigned none are contemplated, except as follows: I, the undersigned, hereby certify that the foregoing figures, information and statements, written and printed, have been carefully read by me before signing and are true to the best of my knowledge and belief. Signed this day of- ., 19 . Signature: Signature: Form CR 114 Form Suggested by Federal Reserve Bank of New York. FARM CREDIT STATEMENT OF BUSINESS ADDRESS TO BANK OF I, the undersigned, make the following statement of all my assets and liabilities at the close of business on the date named below and give other material information for the purpose of obtaining from you advances on notes and bills bearing my signature or endorsement, and for obtaining credit generally upon present and future applications. FINANCIAL CONDITION AT CLOSE OF BUSINESS ON THE DAY OF -, 19 a "C a 2 s. a < ASSETS (WHAT I OWN) Farm Lands and Buildings Omit Cents $ At present reasonable value, not deducting mortgages LIABILITIES (WHAT I OWE) Mortgage Loans on Farm Omit Cents $ Not including notes secured by mortgages Other Real Estate Mortgage Loans on Other Real Estate Not including notes secured by mortgages At present reasonable value, not deducting mortgages Trucks, Tractors and Automobiles Balance Owing on Land Contract At present reasonable value Other Farm Machinery and Equipment Notes Payable to Dealers and Merchants At present reasonable value Not covered by security Notes Payable to Dealers and Merchants o p Covered by security described below: Pure Bred Cows No. Breed Grade Cows No. Breed No. Breed No. Breed Notes Payable to Banks Pure Bred Bulls Grade Bulls 02 a S Not covered by security Notes Payable to Banks Covered by security described below: Heifers and Yearlings No. Breed No. Breed No. Breed Calves Sheep g Hogs 3 Laying Hens—Roosters s Pullets Notes Payable to Production Credit Assn. a No. Covered by security described below: Breed No. Breed No. Breed Notes Payable to Relatives and Friends Not covered by security Broilers No. Notes Payable to Relatives and Friends Breed Covered by security described below: Chicks No. Breed Other Poultry H No. Description Notes and Loans Payable to Others Not covered by security Notes and Loans Payable to Others Horses No. Covered by security described below: Breed No. Breed Colts Harvested Crops Held for Sale At present selling value Accounts Payable Harvested Crops for Farm Use Store and other accounts not covered by notes At present value Rent Owed by Me Growing Crops Due but unpaid At cost Interest Owed by Me, Due but Unpaid Feed, Seeds, Fertilizer, Supplies, etc. On mortgages, loans, notes, etc. At cost Taxes and Assessments Accounts Receivable Due but unpaid Good and collectible Storage Owing on Goods in Warehouses Notes and Loans Receivable Payable before release of goods Good and collectible Loans from Life Ins. Co's. on Life Policies Cash Surrender Value of Life Insurance Without deducting any loans against policies Other Debts Stocks, Bonds, Certificates of Indebtedness, etc. Description: At present market value Cash on Hand and in Banks Including savings accounts Personal Property and Other Assets Total Liabilities Net Worth Description: $ $ Total assets less total liabilities Total Assets $ Total Liabilities and Net Worth $ CONTINGENT LIABILITIES: I am liable on notes of my customers, which I have endorsed and discounted with banks, amounting to $ ; on unpaid notes endorsed or guaranteed by me as an accommodation to others $ ; on bail bonds $ . Other contingent liabilities, as described: $ CR 114—3SM—10-39 (Continued on other side) (Continued from other side) LOCATION AND DESCRIPTION OF FARM: Located in Town of , County of , State of on Road miles from nearest village or city, which is Assessed tax value: $ . Total acres: . Number of acres cultivated: . Land class: Kind of road: Name and location of milk plant used: TITLE TO FARM AND OTHER REAL ESTATE: The legal and equitable title to all the real estate listed in this statement solely in the name of the undersigned, except as follows: FIRE INSURANCE: Main dwelling: $ , main barn: $ , other buildings: $ , livestock: $ produce: $ , machinery: $ , household goods: $ , auto and truck: $ LIABILITY INSURANCE (Auto and Truck): Personal injury: $ , property damage: $ , . is , LIFE INSURANCE: Face amount of policies: $ Name of insured: Name of beneficiary: Name of insurance company: TAXES (Last Tax Year): State, County & Town: $ , School: $ , other real estate taxes: $ PLEDGE OF FUTURE INCOME: I have not pledged my future income, except as follows: Canning crops $ Milk check $ To whom pledged: SUITS, JUDGMENTS & OTHER LEGAL ACTIONS: I have outstanding or pending against me no suits, judgments or other legal actions, and to the best of my knowledge no legal actions are to be started against me, except as follows: PERSONAL STATUS: I am aged years. Marital status (single, married, etc.): No. of dependents: Wife's (or husband's) name: The following members of family help on farm: OTHER BUSINESS INTERESTS: I have no business interests other than my farm, except as follows: CROP OPERATIONS: LAST CROP YEAR Kind of Crop Acre* •Yield Per Acre Total Total Sale* Crops Growing or to be Grown THIS CROP YEAR •Expected Yield Acres Per Acre Total $ Expected Sales $ •Stated in appropriate units, such as tons, bushels, pounds, etc. (The following information should be submitted if available.) CASH INCOME & OUTGO DURING PAST YEAR, beginning , 19 and ending 19 CAUTION: List below only actual cash which came in or went out last year. Do not list parts of purchases unpaid for on above date. CASH INCOME DURING PERIOD CASH OUTGO DURING PERIOD Hired Help Sale of: Crops $ Livestock Milk Other Dairy Products— Eggs Poultry Other Farm ProductsReal Estate Securities months $ Feed and Grain Hay and Straw Seeds Fertilizer, Sprays, etc._ Gasoline and Oil Fire Insurance Taxes & AssessmentsInterest Truck & Auto Licenses. Dues and Fees Rent Mach'y. Repairs & Tires Improvements & Repairs Livestock Paid for Poultry Paid for Machinery Paid for Auto or Truck Paid for Real Estate Paid for Securities Paid for Cash received from: Outside Work Government Payments Interest Bank Loans Other Loans Other Cash Income (describe) Electricity & Phone $. Family Medical Exp. Family Education Clothing, etc. Food Bought Life Ins. Premiums Misc. Personal Expenses - .a Bank Loans Paid . Mortgages Paid _. Other Loans Paid Money Loaned to Others Total Cash Outgo During Period (Total of both Columns) Total Cash Income I, the undersigned, hereby certify that the figures, information and statements contained in this credit statement, both printed and written, have been carefully read by me before signing and are true and give a correct showing of my financial condition on the date stated. In the event of any material change in my financial condition, I agree to notify said bank immediately in writing. Signed this day of.. 19 Signature: (If this is FRASER Digitized for a joint statement, all persons at interest should sign.) Signature: Form CR 115 SUPPLEMENT TO FARM CREDIT STATEMENT (Form Suggested by Federal Reserve Bank o£ Mew York) NAME ADDRESS TO BANK OF I, the undersigned, give the following material information to supplement the Farm Credit Statement showing my financial condition at the close of business on the day of _, 19. GENERAL INFORMATION HARVESTED CROPS FOR FARM USE HARVESTED CROPS HELD FOR SALE Name of Each Crop •Quantity Present Selling Value Total •Per Unit Name of Each Crop Present Selling Value •Per Unit Total •Quantity $ $ P $ Use appropriate units, such as tons, hundredweights, bushels or pounds, etc. FEED, SEEDS, FERTILIZER, SUPPLIES, etc. (List principal items, use both columns if necessary.) Description of Each Item Cost Per Unit Quantity Total Cost Description of Each Item Cost Per Unit Quantity $ $ Total Cost $ TRUCKS, TRACTORS, AUTOMOBILES and OTHER FARM MACHINERY and EQUIPMENT (List of principal pieces.) Description (Include, when possible, details of size, make, model, etc.) Age Present Condition Cost When New $ Balance Owing $ During the next year I expect to buy the following trucks, tractors, autos or other machinery and equipment: CR 115—20M—10-39 Present Value $ BANKING RELATIONS (A list of all bank accounts including savings accounts.) Name and Address of Bank Loans Cash Balance How Loans are Endorsed or Secured $ STOCKS, BONDS, CERTIFICATES OF INDEBTEDNESS and OTHER SECURITIES OWNED Face Value (Bonds) No. of Shares (Stocks) Interest or Dividends Rec'd. Last Year Present Market Value Cost Description $ $ To Whom Pledged $ ACCOUNTS, NOTES and LOANS RECEIVABLE—GOOD and COLLECTIBLE (A list of the largest amounts owed to me.) Amount Owing Name and Address of Debtor Age of Debt Reason for the Debt Date Payable Description of Security $ ACCOUNTS, NOTES and LOANS PAYABLE [A list of my principal debts, other than mortgages.) Amount of Debt To Whom Debt is Owed (Name and Address) Age of Debt Description of Security Given Reason for the Debt Date Payable $ CONTRACTS or AGREEMENTS to BUY or SELL Crops, Livestock, Poultry, Equipment, Real Estate, etc. Are You Buying or Selling? Agreement With (Name) Description of What is being Bought or Sold Quantity Date to be Delivered Price Description Date to be Paid For $ PROPERTY RENTED or LEASED FROM OTHERS Description of the Property No. of Acres How Used Rent per Year Rent Paid Until Prop'ty Rented Until Rent per Year Rent Paid Until Prop'ty Rented Until $ PROPERTY RENTED or LEASEE» TO OTHERS Description of the Property No. of Acres How Used $ REAL ESTATE OWNED, OTHER THAN FARM (List each parcel separately across sheet as No. 1, 2, 3, etc.) Location and Description Cost with Improvements Age and Condition 1 2 3 4 $ 1 $ 2 3 4 Maturity Date $ Fire Insurance $ Estimated Present Value $ SECOND MORTGAGE FIRST MORTGAGE Amount Assessed Value Amount Name of Mortgage Holder $ Maturity Date Name of Mortgage Holder DAIRY INFORMATION SIZE AND PRESENT STATE OF HERD Number of: cows milking , cows( dry , herd bulls , heifers over 1 yr. old DETAILED INVENTORY OF HERD (List and describe each animal separately.) Kind of Animal (cow, bull, heifer, etc.) Pure Bred or Grade Breed Identification , other young stock Yearly Milk Production (Pounds) Age Check if Mortgaged (/) Value $ DISEASES (Stat * below whether herd is fully accredited for each of following diseases: (1) Tuberculosis, (2) Bang's Disease, If not accredited, sstate the number of clean tests of entire herd for each disease. Also state condition of herd in regard to Mastitis.) (If herd did not t<jst clean in last tests, furnish following information:) Number of Cattle Tested Date of Last Test Disease for Which Tested No. of Positive or Suspicious Reactors Number of Cattle Condemned Tuberculosis Bang's Disease $ $ MILK PRODUCTION AND SALE: Grade of milk (A or B): Average butterfat: Present daily production: cans. Average yearly production per cow: Amount of milk checks during last 12 months: (Fill in spaces below.) Month Check Month January February March 19 19 19 Amount of Indemnity Awarded $ April May June Check 19 19 19 $ Month Milk sold to. pounds. Check 19 July 19 August September 19 $ Month Check 19 October November 19 December 19 $ FEED AND BEDDING Grown on My Farm During Last Crop Season No. of Acres Hay Silage Grain Straw No. of Tons Bought from Others During Last Twelve Months No. of Tons Total Cost $ On Hand at Present Time No. of Tons Value per Ton $ POULTRY INFORMATION EXTENT AND NATURE OF POULTRY OPERATIONS: (State whether poultry raising is a small or large part of your total farm operations; also, kind and breeds of poultry kept, and the size of the flock at various times of the year. If your poultry operations are large, state number of years you have been operating on the present scale, and the extent to which you specialize in raising chicks for sale, raising birds for sale for meat, producing eggs, etc. State extent to which you grow own poultry feed.).- ; SALE OF POULTRY PRODUCTS: (State to whom and under what general arrangement you sell your eggs, broilers and other poultry products.) RECENT OPERATIONS AND PRESENT CONDITIONS: Number of birds in laying flock at present:Number of eggs per day being obtained at present: Price per dozen eggs now being received: Average egg production per hen in laying flock during past year: Average price per dozen eggs received during past year: At the present time, birds not in laying flock consist of the following (State number, also size or age of each group or kind): On birds sold for meat, most recent sales of each kind have been at following prices per pound: The average price per pound of each kind during past year was My flock has the following diseases (check): Coccidiosis Bacillary White Diarrhea Blackhead Other (describe) During the past year, the total number of deaths of birds from disease, rodents, etc. has been as follows: chicks and other young birds older birds FRUIT AND BERRY INFORMATION Kind of Fruit or Berry (List each kind separately) Trees, Vines, Shrubs of Bearing Age Number of Trees, etc. Trees, Vines, Shrubs of Non-bearing Age Number of Acres Number of Trees, etc. Number of Acres •Amount of Yearly Production Actual Production Last Year Actual or Expected Production This Season * Use appropriate units, such as pounds, quarts, bushels, or tons. DISPOSAL OF FRUIT PRODUCTION: (State manner in which last year's fruit was disposed of, to whom, and at what prices. Describe what arrangements have been made in regard to disposal of this season's fruit crops, and prices expected.) I, the undersigned, hereby certify that the foregoing figures, information and statements, written and printed, have been carefully read by me before signing and are true to the best of my knowledge and belief. Signed this day of_ .19— Signature: Signature:
@FedFRASER