ACCOUNTS 
173 
to protect the interests of the company, the board confining 
itself to issuing a cheque on the current banking account 
for the total amount of the warrants, as stated. This is 
paid into a special dividend account with the bank, accom- 
panied by an order of authority for the acceptance of the 
secretary’s signature and/or accountant’s or registrar’s initials 
on all warrants presented against such an account. 
Finally, all warrants are carefully examined to see that 
none are unsigned or missing, and enclosed in envelopes 
which have been in the meantime prepared, unless window 
envelopes are utilised, which is now very usual. They are 
then counted, checked and agreed with the total number to 
be issued and, all being in order, they are posted on the day 
fixed by the board. 
With many companies, an adhesive or impressed stamp, 
is used for the envelopes, and in this case the counting and 
checking of the warrants must be performed by one or more 
responsible clerks, who must personally take them to the 
post, and sign a certificate at the foot of the dividend sheets 
to the effect that the number of warrants as therein referred 
to were posted by them at a particular post office at a certain 
time on the day fixed. Where, however, as is the case with 
large companies, the company pays the postage in one sum 
and collects a definite receipt from the Post Office for so 
many addressed envelopes, this forms the company’s cer- 
tificate for having posted the number stated. Some large 
companies use a machine which encloses and stamps at one 
operation: each ‘franking’ (or stamping) is noted numeri- 
cally in an attached recording apparatus sealed and under 
the control of the postal authorities. 
Application should be made to the bankers for paid dividend 
warrants. After being checked off against the pass book 
they should be put in numerical order and marked off on the 
dividend sheets. 
In cases where a large number of warrants are paid to the 
same bank for account of various shareholders, it is the 
custom, with some companies only to fill in the advice note 
and income tax certificate, the warrant itself being detached 
and cancelled. Special lists are then made, and one warrant 
only is prepared for the total amount in accordance with 
each of such lists and despatched to the bank a few days 
prior to the general posting together with the list and the 
advice notes. 
Applications may be received from time to time from 
shareholders notifying the company that they have not 
received their dividend or interest warrants, or that these, 
having been received, have been lost or destroved. The