diff --git a/src/cpp/ripple/LedgerEntrySet.cpp b/src/cpp/ripple/LedgerEntrySet.cpp
index 5edd8944b5..23ee1bc7f7 100644
--- a/src/cpp/ripple/LedgerEntrySet.cpp
+++ b/src/cpp/ripple/LedgerEntrySet.cpp
@@ -486,6 +486,35 @@ void LedgerEntrySet::calcRawMeta(Serializer& s, TER result, uint32 index)
 	cLog(lsTRACE) << "Metadata:" << mSet.getJson(0);
 }
 
+TER LedgerEntrySet::dirCount(const uint256& uRootIndex, uint32& uCount)
+{
+	uint64	uNodeDir	= 0;
+
+	uCount	= 0;
+
+	do
+	{
+		SLE::pointer	sleNode	= entryCache(ltDIR_NODE, Ledger::getDirNodeIndex(uRootIndex, uNodeDir));
+
+		if (sleNode)
+		{
+			uCount		+= sleNode->getFieldV256(sfIndexes).peekValue().size();
+
+			uNodeDir	= sleNode->getFieldU64(sfIndexNext);		// Get next node.
+		}
+		else if (uNodeDir)
+		{
+			cLog(lsWARNING) << "dirCount: no such node";
+
+			assert(false);
+
+			return tefBAD_LEDGER;
+		}
+	} while (uNodeDir);
+
+	return tesSUCCESS;
+}
+
 // <--     uNodeDir: For deletion, present to make dirDelete efficient.
 // -->   uRootIndex: The index of the base of the directory.  Nodes are based off of this.
 // --> uLedgerIndex: Value to add to directory.
@@ -814,11 +843,53 @@ bool LedgerEntrySet::dirNext(
 	return true;
 }
 
+// If there is a count, adjust the owner count by iAmount. Otherwise, compute the owner count and store it.
+TER LedgerEntrySet::ownerCountAdjust(const uint160& uOwnerID, int iAmount, SLE::ref sleAccountRoot)
+{
+	SLE::pointer	sleHold	= sleAccountRoot
+								? SLE::pointer()
+								: entryCache(ltACCOUNT_ROOT, Ledger::getAccountRootIndex(uOwnerID));
+
+	SLE::ref		sleRoot	= sleAccountRoot
+								? sleAccountRoot
+								: sleHold;
+
+	const bool		bHaveOwnerCount	= sleRoot->isFieldPresent(sfOwnerCount);
+	TER				terResult;
+
+	if (bHaveOwnerCount)
+	{
+		const uint32	uOwnerCount		= sleRoot->getFieldU32(sfOwnerCount);
+
+		sleRoot->setFieldU32(sfOwnerCount, uOwnerCount+iAmount);
+
+		terResult	= tesSUCCESS;
+	}
+	else
+	{
+		uint32	uActualCount;
+
+		terResult	= dirCount(Ledger::getOwnerDirIndex(uOwnerID), uActualCount);
+
+		if (tesSUCCESS == terResult)
+		{
+			sleRoot->setFieldU32(sfOwnerCount, uActualCount);
+		}
+	}
+
+	return terResult;
+}
+
 TER LedgerEntrySet::offerDelete(const SLE::pointer& sleOffer, const uint256& uOfferIndex, const uint160& uOwnerID)
 {
 	uint64	uOwnerNode	= sleOffer->getFieldU64(sfOwnerNode);
 	TER		terResult	= dirDelete(false, uOwnerNode, Ledger::getOwnerDirIndex(uOwnerID), uOfferIndex, false);
 
+	if (tesSUCCESS == terResult)
+	{
+		terResult	= ownerCountAdjust(uOwnerID, -1);
+	}
+
 	if (tesSUCCESS == terResult)
 	{
 		uint256		uDirectory	= sleOffer->getFieldH256(sfBookDirectory);
diff --git a/src/cpp/ripple/LedgerEntrySet.h b/src/cpp/ripple/LedgerEntrySet.h
index ea91ff9fbb..6015f94896 100644
--- a/src/cpp/ripple/LedgerEntrySet.h
+++ b/src/cpp/ripple/LedgerEntrySet.h
@@ -99,8 +99,11 @@ public:
 		const uint256&					uLedgerIndex,	// Item being deleted
 		const bool						bStable);
 
-	bool dirFirst(const uint256& uRootIndex, SLE::pointer& sleNode, unsigned int& uDirEntry, uint256& uEntryIndex);
-	bool dirNext(const uint256& uRootIndex, SLE::pointer& sleNode, unsigned int& uDirEntry, uint256& uEntryIndex);
+	bool				dirFirst(const uint256& uRootIndex, SLE::pointer& sleNode, unsigned int& uDirEntry, uint256& uEntryIndex);
+	bool				dirNext(const uint256& uRootIndex, SLE::pointer& sleNode, unsigned int& uDirEntry, uint256& uEntryIndex);
+	TER					dirCount(const uint256& uDirIndex, uint32& uCount);
+
+	TER					ownerCountAdjust(const uint160& uOwnerID, int iAmount, SLE::ref sleAccountRoot=SLE::pointer());
 
 	// Offer functions.
 	TER					offerDelete(const uint256& uOfferIndex);
diff --git a/src/cpp/ripple/OfferCancelTransactor.cpp b/src/cpp/ripple/OfferCancelTransactor.cpp
index 2110c037e9..0eaff9daa8 100644
--- a/src/cpp/ripple/OfferCancelTransactor.cpp
+++ b/src/cpp/ripple/OfferCancelTransactor.cpp
@@ -38,4 +38,6 @@ TER OfferCancelTransactor::doApply()
 	}
 
 	return terResult;
-}
\ No newline at end of file
+}
+
+// vim:ts=4
diff --git a/src/cpp/ripple/OfferCreateTransactor.cpp b/src/cpp/ripple/OfferCreateTransactor.cpp
index 9e1bb20fe5..55a3d4a8b0 100644
--- a/src/cpp/ripple/OfferCreateTransactor.cpp
+++ b/src/cpp/ripple/OfferCreateTransactor.cpp
@@ -399,6 +399,12 @@ TER OfferCreateTransactor::doApply()
 			boost::bind(&Ledger::qualityDirDescriber, _1, saTakerPays.getCurrency(), uPaysIssuerID,
 				saTakerGets.getCurrency(), uGetsIssuerID, uRate));
 
+		// Update owner count.
+		if (tesSUCCESS == terResult)
+		{
+			terResult	= mEngine->getNodes().ownerCountAdjust(mTxnAccountID, 1, mTxnAccount);
+		}
+
 		if (tesSUCCESS == terResult)
 		{
 			uint256	uBookBase	= Ledger::getBookBase(uPaysCurrency, uPaysIssuerID, uGetsCurrency, uGetsIssuerID);
diff --git a/src/cpp/ripple/Transactor.h b/src/cpp/ripple/Transactor.h
index 88a1a6764b..1c456637df 100644
--- a/src/cpp/ripple/Transactor.h
+++ b/src/cpp/ripple/Transactor.h
@@ -9,25 +9,25 @@
 class Transactor
 {
 protected:
-	const SerializedTransaction& mTxn;
-	TransactionEngine* mEngine;
-	TransactionEngineParams mParams;
+	const SerializedTransaction&	mTxn;
+	TransactionEngine*		mEngine;
+	TransactionEngineParams		mParams;
 
-	uint160 mTxnAccountID;
-	STAmount mFeeDue;
-	STAmount mSourceBalance;
-	SLE::pointer mTxnAccount;
-	bool mHasAuthKey;
-	RippleAddress mSigningPubKey;
-	
+	uint160				mTxnAccountID;
+	STAmount			mFeeDue;
+	STAmount			mSourceBalance;
+	SLE::pointer			mTxnAccount;
+	bool				mHasAuthKey;
+	RippleAddress			mSigningPubKey;
 
 	TER preCheck();
 	TER checkSeq();
 	TER payFee();
+
 	virtual void calculateFee();
 	virtual TER checkSig();
 	virtual TER doApply()=0;
-	
+
 	Transactor(const SerializedTransaction& txn, TransactionEngineParams params, TransactionEngine* engine);
 
 public:
@@ -38,4 +38,6 @@ public:
 	TER apply();
 };
 
-#endif
\ No newline at end of file
+#endif
+
+// vim:ts=4
diff --git a/src/cpp/ripple/TrustSetTransactor.cpp b/src/cpp/ripple/TrustSetTransactor.cpp
index 3403c40389..54e1efc124 100644
--- a/src/cpp/ripple/TrustSetTransactor.cpp
+++ b/src/cpp/ripple/TrustSetTransactor.cpp
@@ -53,7 +53,12 @@ TER TrustSetTransactor::doApply()
 	if (sleRippleState)
 	{
 		// A line exists in one or more directions.
+
 #if 0
+		// We might delete a ripple state node if everything is set to defaults.
+		// However, this is problematic as it may make predicting reserve amounts harder for users.
+		// The code here is incomplete.
+
 		if (!saLimitAmount)
 		{
 			// Zeroing line.
@@ -135,7 +140,7 @@ TER TrustSetTransactor::doApply()
 		if (uQualityOut)
 			sleRippleState->setFieldU32(bFlipped ? sfHighQualityOut : sfLowQualityOut, uQualityOut);
 
-		uint64			uSrcRef;							// Ignored, dirs never delete.
+		uint64			uSrcRef;							// <-- Ignored, dirs never delete.
 
 		terResult	= mEngine->getNodes().dirAdd(
 			uSrcRef,
@@ -143,12 +148,18 @@ TER TrustSetTransactor::doApply()
 			sleRippleState->getIndex(),
 			boost::bind(&Ledger::ownerDirDescriber, _1, mTxnAccountID));
 
+		if (tesSUCCESS == terResult)
+			terResult	= mEngine->getNodes().ownerCountAdjust(mTxnAccountID, 1, mTxnAccount);
+
 		if (tesSUCCESS == terResult)
 			terResult	= mEngine->getNodes().dirAdd(
 				uSrcRef,
 				Ledger::getOwnerDirIndex(uDstAccountID),
 				sleRippleState->getIndex(),
 				boost::bind(&Ledger::ownerDirDescriber, _1, uDstAccountID));
+
+		if (tesSUCCESS == terResult)
+			terResult	= mEngine->getNodes().ownerCountAdjust(uDstAccountID, 1, sleDst);
 	}
 
 	Log(lsINFO) << "doTrustSet<";