Butler citizen. [volume] (Butler, Pa.) 1877-1922, 1883-05-16
The Bank Of England.


able porter in quaint uniform, which
dates back, l think, hundred year or
more; it left green and buff impress
ion on me, but cannot accurately des-
cribe its details. The porter led me to
room where the executive officer of
the bank was to be found The officer,
Mr. Gray, is entitled "chief account
ant" and his position corresponds very
much to that of cashier of one of our
banks. Mr.. Gray, who sat at his desk
surrounded by corps of busy clerks,
and who is gentleman of the most
courteous and unassuming manners,
gave me cordial welcome, and under
hisguidance. l visitedevery department
of the bank, and had everything which
l did not understand at glance ex-
planned to me. The capital of the
bank is ETA, 4,5O0,00O; it's circulation in
the hands of the public about f25, ,000,-
600; it's deposits, on no portion of
which is interest paid, average in these
days about f32,OOO,OOO. With its
customers it has two kinds of account,
deposit and discount. / was told that
in order to get discount at this bank
it was absolutely necessary to have
deposit account, but can hardly be pos
sible that banking institution with
such an enormous working capital,
amounting to nearly $29O,OOO, 900, is
ever obliged to buy paper in the open
market in order to keep up loans. The
bank discounts no bill having over
three months to run; the smallest city
bill which it discounts is fl00; small
est country bill $40. 1t circulates no
smaller note than f5, but this seems
to be the only limit to denominations;
in frame in the building is cancel
ed note of the Bank of England for
fl00, 600, 900 and if / remember right
ly, the bank poet, Rogers, had hang
ing in his library a Cancelled not of the
same institution for $50, 900.
/ have heard that note for f10, 900
once had sigular history. 1t was
paid out to one of the directors of the
bank. who after lost it under such cir
cumstances that he was satisfied, and
succeeded in satisfying the bank, that
it had fallen into his fireplace and been
destroyed. He was given new note
for which he returned a receipt and
guarantee. Many years after the orig
inal note was presented for payment;
the bank endeavored to disown it, but
could not, for it was genuine, and in
the hands of an innocent person, and
the bank had to pay it. Its history
was then looked into, and it was ascer-
tanned that, instead of being burned, it
had been carried up the chimney by
draft, and had found safe Judgement
in some Granny in the hue. Here it
had remained until alterations in the
house necessitated the removal of the
chimney; then it was discovered by
workman, who regarded it as legiti-
mate find, and who presented it for
payment.
Right here may as we'll relate an
other story of the bank, of which there
are many, both in print and as legends,
out of which | will let these two serve
as specimens A sewer workman,
while poklng around under ground,
found that by raising aagstone he
could penetrate into the bullion room
of the bank Amazed at the discovery,
he pondered over it and finally conclud-
ed that he would utilize it to his Pc
cuniary benefit without stealing. He
therefore wrote to the directors, asking
what reward he would receive if he
should meet them at any appointed
hour of the night in the bullion room,
and thus reveal to them a mode of in
gress Of which they were entirely ig-
norant. They named a sum that
would make him Independent for life,
and to their overwhelming surprise he
kept his promise by popping up
through the sewer, for which he re-
ceived 10000 or so. This is suppos-
ed have happened long ago-Cor.
Boston Journal