The practical work of a bank : a treatise on practical banking which aims to show the fundamental principles of money, the practical work of a bank in detail, and particularly, credit in its relation to banking operations . ough their hands and thus obtain a listof the depositors of other banks. This gives the executiveforce definite information to work upon in securing newbusiness. And as soon as a liquidation or an absorption isrumored, the competitor banks bestir themselves to obtainthe accounts of the bank going out of business and this isthe clue upon wliich they work. Care of Checks and
The practical work of a bank : a treatise on practical banking which aims to show the fundamental principles of money, the practical work of a bank in detail, and particularly, credit in its relation to banking operations . ough their hands and thus obtain a listof the depositors of other banks. This gives the executiveforce definite information to work upon in securing newbusiness. And as soon as a liquidation or an absorption isrumored, the competitor banks bestir themselves to obtainthe accounts of the bank going out of business and this isthe clue upon wliich they work. Care of Checks and Deposit Tickets Until the vouchers are returned and the account recon-ciled, the checks paid by the bank are important documentsand are given careful attention. They are filed in checkfiles, under the name of the depositor, as they are paid and 318 THE PRACTICAL WORK OF A BANK not according to their date. Tlie pass-books are written upfrom these vouchers and in the statement system they areused independently of the ledger records. Checks are can-celled by mutilating as soon as they are paid. Deposit tickets are filed according to date and the sub-division of the ledgers. Thev are, of course, not returned • • •. CHECK CAXCELLIXG 31ACIIIXE AKD ITS WORK(Courtesy of B. F. Cummins Co., Chicago, 111.) to the depositor, being kept for a certain length of time andthen destroyed. Some banks keep them indefinitelj. Onelarge New York bank keeps the letters which come fromdepositors, and are used as deposit tickets, for a certainlength of time after the account has been reconciled, andthis is given careful attention. After reconciliation the let-ters are destroyed after a stated time. CHAPTER XL CHECKS AND THEIR COLLECTION Through the disappearance of sectional lines and theknitting of the country together by the railroads, has comethe growth of commerce, so that no section is now sufficientunto itself. The apples of Oregon are sold in New York;the fruit of California in Boston; and
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Keywords: ., bo, bookcentury1900, booksubjectbanksandbanking, booksubjectmoney
