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 . not shown that thedefendants had any knowledge of its existence. The parties agreed that there was a well established cus-tom among the banks of Portland to the effect that, when abank received for collection an ordinary check, drawn on abank in another place, the collecting ])ank would forward thecheck directly to the drawee for collection and returns, pro-vided that the c
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 . not shown that thedefendants had any knowledge of its existence. The parties agreed that there was a well established cus-tom among the banks of Portland to the effect that, when abank received for collection an ordinary check, drawn on abank in another place, the collecting ])ank would forward thecheck directly to the drawee for collection and returns, pro-vided that the collecting bank had no agent or correspond-ent at the place where the drawee bank was located. It was held that this custom was reasonable, in so far, at COLLECTIONS AND THE MESSENGER 183 least, as it applied to an unindorsed check, payable to order of collecting bank. Endorsements. The question of endorsements is one of considerable im-portance. Up to 1898 the restrictive form of endorsementwas used on all items whether taken as cash or for collection,the form generally reading Pay to the order of receivingbank for collection, for account of sending bank. Thematter of bank endorsements was revolutionized by the now. :Pap»r orpapen aUaat,,!^ ^TmcHEH OrderRece-pied EIH Polk J J s on/jt on paym&ni,Mi iii ?I c^fj^nrg-p/ l/le Argyle, Minn. ^. ^ ?Ciu^ W^jt t^vrort JO^ Jtirk^r jr PIu^aHp-^A , Ux^-J^. DRAFT WITH BILL OF LADIXG ATTACHED ARRIVAL DRAFT. famous decision in National Park Bank v. Seaboard Na-tional Bank, 114 N. Y. 28. In tliis case a check drawn onthe National Park Bank for $18 was raised to $1,800 andsent to the Seaboard Bank for collection and credit and en-dorsed for collection only. The check was paid by thePark Bank for $1,800 and later it was discovered that it wasraised. The Park Bank sought to hold the Seaboard Bank,which had turned over the proceeds to its correspondent, theaccount having been closed. It was held that neither theSeaboard Bank nor the bank s
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Keywords: ., bo, bookcentury1900, booksubjectbanksandbanking, booksubjectmoney
