ERRATA. Heading to Chapter I. should be only "Book-Keeping.” For dates of Examinations see page 5. In answer to Question No. 6, page 47, it is implied that the Bank allows a standing overdraft, whereas it discounts the firm's own paper. There is practically little difference. The Bank would hold the proceeds of the notes, held as collateral security, to retire firm's notes as they matured. DEBENTURES. In answer to question under this heading the following may be included: (See page 212.) By chapter 119 of R. S. O., 1897, sec. 38: The bonds or debentures of corporations, made payable to bearer, or to any person named therein or bearer, may be transferred by delivery, and if payable to any person or order shall (after general endorsation thereof by such person) be transferable by delivery from the time of the indorsation. Any such transfer shall vest the property of such bonds or debentures in the holder thereof to enable him to maintain an action thereon in his own name. |