The work of the Stock Exchange

Bibliographic data

Monograph

Identifikator:: 876375174

URN:: urn:nbn:de:zbw-retromon-1989

Document type:: Monograph

Author:: Lilienthal, Johann

Title:: Fabrikorganisation, Fabrikbuchführung und Selbstkostenberechnung der Firma Ludw. Loewe & Co. Actiengesellschaft, Berlin

Place of publication:: Berlin

Publisher:: Verlag von Julius Springer

Year of publication:: 1907

Scope:: 1 Online-Ressource (XI, 220 Seiten)

Digitisation:: 2017

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

SECURITY DELIVERIES, LOANS, AND TRANSFERS 371 The New Loan Agreement.—The borrower first makes out in his office a new loan agreement, which in several respects resembles the return loan agreement already described. The new loan agreement form (Figure 40) is in quadruplicate and contains the borrower’s clearing number at its head, as well as a formal agreement stating that the lender has agreed to loan to the borrower in accordance with and subject to the By-laws and Rules of the Stock Clearing Corporation a stated sum of money at a stated interest rate, upon the collateral of an appended itemized list of securities. This itemized list states the name, number, price, and value of the securities to be pledged for the loan. After filling out the four forms of this new loan agreement, the borrower signs them at the bottom, and his representative takes the agreement to the office of the lender Here, the lender passes on the desirability of the security collateral itemized on the face of the agreement. If the col- lateral is acceptable to him, he detaches two of the four forms of the agreement for his own use, and, after signing the other two forms in the space provided for that purpose at the bottom, returns these to the borrower’s representative. But in case the collateral for the proposed loan is not acceptable to the lender, the latter rejects the agreement and requests the borrower to pledge other securities than those on the list as collateral. In such cases the borrower proceeds to make up a new list of securities and a new agreement which will be acceptable to the lender, and sends it back to the latter for his approval and signature in the manner above described. These new loan agreements for new loans to be “put through” the Stock Clear- ing Corporation are accepted by lenders up to 2:45 P.M. In case a borrower sends his agreement to the lender after that time, the lender can insist that the loan be made “ex,” in which case, of course, the Stock Clearing Corporation does not figure further in the matter

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