Verification Of Securities

At branches where stocks and bonds are held as security for loans, or merely for safekeeping, the inspector gives careful attention to them. In the case of inscribed stocks notices are sent to the corporations issuing them stating that the books of the branch show so many shares of the par value of so much standing in the name of the bank, and requesting confirmation. Also communications are addressed to all owners of stocks and bonds, with detailed statements of the items held, and of the loans against them, if any; and the addressees are required to certify the statements as correct, and return them direct to' the inspector. Particular care is taken in the inspection department to see that every list of securities sent out for verification is received back duly certified.