Wichita eagle., 1890-03-11

scription, EACH bank paying so much Tor the
privilege of its use. Quite revenue is also
derived from fines imposed upon banks for
hardness. making mistakes, etc. Some banks
in the CITY do not clear directly, but through
other banks. This is especially the case with
Brooklyn and Jersey City banks.
About seyenty-five banks clear directly
through the clearing house. Each bank has
a desk of its own, and is represented by two
and sometimes three clerks; one to settle,
one TO deliver. and the third, when there is a
third, to sign the sheets. Usually the settling
clerk does this, except in the cases OF very
large banks. The delivery clerk of each bank
brings the checks Of the other banks TO the
clearing house, each banks checks in a sep
arate envelope, with slip pinned TO 1t, on
which are written the various amounts TO-
gether with the total These totals are then
all set down on two sheets of paper, one of
which the delivery clerk takes, while the
other goes to the settling clerk.
All banks are obliged to be at the clearing
house and in their places at 10 a. M, under
penalty of fine. At 10 sharp gong rings,
ard the delivery clerks start on their rounds
delivering envelopes to the settling clerks OF
the respective banks, who, in turn, take down
the amount and sign their names opposite the
amount with which their bank is charged.
This operation generally consumes about eight
minutes. The delivery clerks work is now
finished; he gathers up the envelopes left at
his desk by the other banks, and departs on
his way rejoicing. Not so with the settling,
clerk, however.
When the exchanges have all been made
he adds up the amounts charged to him by
the other banks and makes out slip with
the amount of the exchanges paid out, the
amount received, and the difference between
the two This slip has to be made up and
handed in to the clerk of the clearing house
by lO:45 or another fine is imposed, and if any
mistake is made endless fines follow. When
all the slips are handed in, a balance is struck
by the accountants employed by the clearing
house If there is a difference of cent
everybody is obliged foreman until the error
is found When the proof is made the fact
is announced from the gallery. where Man
ager Camp and his assistants preside; the
debts and credits of the various banks are
read, and the mornings work is over. The
work is so quickly done and so perfectly sys
tematized that as a rule IL: rs sees the room
deserted.
The clerks of some banks are fined almost
every day, while others go for year with
out fine The chief things necessary for 6
settling clerk to possess are clear head anc
quick hand. If a settling clerk goes for 81,
months without receiving fine his name l.
entered on book, and should he ever be out
of position Manager Camp will testify tx
his accuracy.
The banks assemble in the clearing house
again in the afternoon for the purpose Of re
ceiving their credit or paying their debit, a
the case may be. Sometimes it is but few
dollars and sometimes the amount runs W
into the millions.
The oldest settling clerk among the bank
is the man who settles for the Pacific bank
He is nearly SO years old, but rarely misses
day, and performs his work with an &C
curacy and speed which puts many OF hi
younger contemporaries to shame. - New
Np,.y