The Savings Bank and Its Practical Work; A Practical Treatise on Savings Banking, Covering the History, Management and Methods of Operation of Mutual Savings Banks, and Adapted to Savings Departments in Banks of Discount and Trust

The Savings Bank and Its Practical Work; A Practical Treatise on Savings Banking, Covering the History, Management and Methods of Operation of Mutual Savings Banks, and Adapted to Savings Departments in Banks of Discount and Trust

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1918 edition. Excerpt: ...and refunded to the tellers all shortages charged against them. The work of paying teller in a small bank resolves itself simply into drawing up the check or receipt for the depositor (savings banks usually fill but their own checks), having it properly signed and paying over the money. In such banks comparison with the signature record is not always required, as the depositors are more or less well known to the bank officials, or soon become so. There is no red rape nor any necessity for the routine required in larger, banks. However this may be, whenever there is any doubt, the signature should be compared carefully, and the test questions asked. This is amplv sustained in law, and is not only good law, but equally good banking. Some institutions use receipts; others, regular checks. Which is the better is a matter of opinion. The one is an order, while the other is an ordinary receipt. One would not require endorsement under any conditions, while the check, if drawn to any other person than bearer, would require endorsement to be complete. It is quite a common practice to give a proper form of See Geitelsohn v. Citizens Sav. Bank. N. Y. Sav. Bank Cases, p. 117. withdrawal in the pass book, for the guidance of depositors who cannot come in person, and yet in spite of such instructions, many quaint and humorous orders to pay are received. Here is one, written on wrapping paper, in lead pencil. It is needless to say Mrs. Elsback did not get "what money she had in the bank on a-count of sickness," until she signed a proper receipt. Another sick lady wanted a dollar, and this is the way she went at it: Dear Sir please be kind Enough to give my daughter $1.00 and Keep the book up in the bank on account Of me having the small Bank that will...show more

Product details

  • Paperback | 164 pages
  • 189 x 246 x 9mm | 304g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236526201
  • 9781236526205