26 THE WORK OF THE STOCK EXCHANGE 
due. In Continental countries where the people do not ordi- 
narily maintain checking accounts at the banks, registered cer- 
tificates usually provide coupons for the collection of interest or 
dividends; in other cases, registered certificates are stamped at 
the banks for such payments. 
Tob ttoeRovvina, Lol dim only 
m——————— je ; oe m— —— Ue) 
A Capital Sock petsesentiats: | Ho oiblin' Gnd ate 
andor hnelios nen Dade Ap aml afofhoont 
— __ 2 tn 
fans Ho saad stork om Ho DipehS of Holfon mamen 
Compar-uunis itl power oudhiasiin in Mospriomisns 
LL of (Pug. 2___ 1929 
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Figure 1. Assigment Form 
Methods of transferring registered securities vary greatly 
between different countries, and are often slow, expensive, and 
beset with formalities. In England, registered certificates are 
transferred by deed, like real estate. In America, very superior 
methods of transfer have evolved. On the back of Ameri- 
can registered certificates a blank assignment form is provided 
(Figure 1), which the seller whose name appears on the face 
of the certificate can sign. Once this signature is endorsed by a 
bank or a Stock Exchange firm, the certificate can be delivered 
in the market almost as freely as if it were in bearer form.