26 THE WORK OF THE STOCK EXCHANGE

due. In Continental countries where the people do not ordinarily
 maintain checking accounts at the banks, registered certificates
 usually provide coupons for the collection of interest or
dividends; in other cases, registered certificates are stamped at
the banks for such payments.

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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 American
 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.