Most country banks are concerned only indirectly with coupon payments. That is, the payment of coupons and maturing bonds is restricted chiefly to the large city banks, but all banks are concerned with the collection of bond coupons. Bond coupons come to the paying agents in the larger cities from almost every conceivable source, being transmitted principally by local bankers who either receive them directly from customers or clip them from the customers' security holdings. Corporations, either public or private, which issue bonds, usually decide in advance upon one or more paying agents located as has been said, in the larger centers. Coupon Fund Ledger. - All deposits received by corporations are carried in the coupon fund ledger, a page or more, as may be required, being kept for each account. The ledger usually calls for:

Name of issuing corporation

Description of security including coupon maturity dates

Date

Deposits received

Number of coupons and bonds paid

Amount paid

Balance

Remarks

The amount of a deposit is carried into the balance column and all coupons and bonds redeemed are entered in the amount paid column. The balance column shows at all times the funds left in each account, and there is usually a separate account for each issue of bonds.