Book Description

Excerpt from Commercial Paper, Acceptances and the Analysis of Credit Statements In my recent work, "The Practical Work of a Bank," the subject of Credit is exhaustively treated, but with particular reference to the fundamentals of credit as applied to any credit risk. The present work has been prepared at the request of my publishers for a simple, concise work on the subject of Commercial Paper, that would not impair the value of the other work, to which the reader is referred for more extended treatment of many phases of credit, collateral to the present subject. To attempt to treat these herein would be a restatement of what has already appeared from the same authorship. Inasmuch as Commercial Paper now forms one of the principal assets of the banks of this country, and the credit risk must be ascertained by analytical processes that differ from those employed where the borrower is personally known to the lender, I have attempted in a limited scope to outline the basic processes by which the worth of Commercial Paper may be determined. While much has been written concerning Credit, to my knowledge no work has yet appeared that attempts to apply abstract principles to concrete cases, and I have therefore, after giving a brief treatment of the subject of Credit and Commercial Paper, devoted the remainder of the work to the analysis of actual statements submitted by brokers. It must be assumed that in every case the credit seeker complies with the rules laid down in the other work mentioned as to character and capacity, this work being devoted solely to an impartial and impersonal review of cold facts submitted, from which we attempt to form a conclusion as to the ability of the maker of the paper to meet it at maturity. The figures are actual transcripts, with names, places and dates changed for obvious reasons, thereby giving actual conditions for our consideration. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.