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"I don't know even the name of your new outfit yet, but I'll take a chance on one piece of two-name paper, anyhow."

Although mortgage and other collateral security is sometimes accepted, the banks' chief reliance is personal security, and the great bulk of the loans are made on two-name paper.

This would then be "two-name paper," could be sold in the open market where a bill dealer might buy it, take it to his bank which could rediscount it at the Federal Reserve.

Occasionally he has a note, for a small amount to begin with, always first-class, two-name paper, and he never objects—usually insists—in paying a trifle more than the regular discount.

Occasionally he has a note, for a small amount to begin with, always first-class two-name paper, and he never objects—usually insists—on paying a trifle more than the regular discount.