Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1890-04-25
BANK BUSINESS.
DUTIES Of THE GusToDIANs OF
MANY MILLIONS.
What the, Directors. the Prcsidcn..
q, Cashier and Tcliers Have to DO
whntthc Oniccrs are Paid
,--Talcn,s Required. ist

- -
the Directors, and in the intervals be.
| tween then, is virtually clothed with tho
authority of his supcriors, writes Richard
Whcatley in Harper's May,sine There
may or may not br, II Vice President to
discharge, his duties in cnsc of absence
{ Every morning on arrival at his -.licc
| the President finds on his tablea summary.
prepared the evening before, showing
the precise amount Unconstitutional funds,
where they are situated and Of what they
are composed, also I'M aggregate OF the VA.
rious liabilities. BY this chart he decides
whether to- lcud orlto call,i in his loans,
and to what extent
Lasts III detail of prospective resources
assist decision. Clearing house balances,
which may be- on the debtor or creditor
side to any amount up to several millions.
reported about 1880 \. VI, are also very
Influential on his action The bearings
oil the bank statement he is expected 10y
the Directors To explain He Scrutinizcs
the whole field of commerce. and studies
the causes OF financial tides; watches the
course of exchanges Mt the Clearing
| house, the currents of trade and the shin
ments of coin compares the exports and
imports OF successive years. and then
balances the probabilities of the sprcula-
tive unknown before him.
With the character of subordinatcs he
Is more or less familiar He is Obliged
to trust them. II prodigal or needy, il
is nnturnl to Suspect them. Ovcrdrarts
he never permits. and liz corrccs pay
ments when first due His voice is
| ncunllv ,,nn,l,,y;,,., -, ~
subordinate agents. and even of the
notary and attorneys Economical in
unproductivc outlay, familiar with the
legal qualities of proiIcrcd securities, and
guiding action by his own Judgment
rather than by the recommendations of
Others, liz chooses, if compelled to
choose, the reputation of upright morosc.
ness in preference to that Of imbccilc
amiubility.
Next 10 the President, the Cashier is.
"a rule, the most authoritative officer in
a bunk. He may have risen by degrees
to his present cmincncc from the foo. of
the ladder. If so, he is thc more likely
to be extremely efficient. His life is
circnmscrbcd, scdcntary, mechanical
Yet his faculties must be on the alert. his
temper under control, his foriitudc in.
vinciblc his Leading business aim the
safcty and success of the establishment.
The model cnshiei is rciiccnt MS the
Sphinx about all bank secrets, is II born
and disciplined detective, and recognizes
y counterfeit customer us quickly rs "a
spurious bill. In the absence oil Prcsi-
dent aud Vice President The Cashier is
the real head of the bank.
lie signs cirtifc,lrs OF stock. circulnt
ing notes and checks drawn on other
hunks, indorscs drafts anl notes for col.
lection, conducts the correspondence, is
usually stakeholder and often - Drcc.
tor. lie is appointed by the Directors,
gives bond and surciirs for fidelity. and
receives SALARY of from two to twelve or
possibly fifteen thousand dollars.
| On arrival at his desk in thr morning
the Cashier examines the dozen or more
Of newspapers for which The bank sub.
scribcs, glnnces round to see il, all the
clerks are present and preparing the cx-
changes for the Clearing house, and il
not, supplies the vacancies Morning all
ditions Of two or three millions may be
made to the assorted exchanges Of much
larger amounts, possibly twenty or thirty
millions, prepared on the previous after
noon. r, rE sac
Correspondence next Claims attention.
This mny include from two to twenty
five hundred letters or more. Core.
spending clerks haze opened the whole
Those containing cash items are retained
by tho tcllcrs, Special letters, such rs
applications for discounts, proposals from
new customers, orders for the purchase
or sale Of stocks or bonds, concerning re
,mittanccs, inquiries into the staining OF
persons, opinions regarding certain Sc
lcuritics, complaints touching the bust
ness conduct Of the bank, are answered
by himself ut once or later in the day.
The replies are copied. tAt-ia r.
lie is conspicuous Mt the Directors
meetings, examines loans secured by
collaterals, calls them in if the latter be
moi satisfactory, examines the balnrcc
books, directs all details. keeps informed
about all tint is done and turns with en-
tire concentration to the import OF fro
Iuent calls and Interruptions .r
When the money market is ''casy" the
Cashier sails on summer seas Politics,
theology history, education, public i'm
'provcmcnts, personal matters, nrc con
yersational staples. When financial sto,ms
arise, no Captain on ocean CITY
hound's' bridge has more cause for
anxiety. Sd
Next To the Cashier in rank ,salnry and
responsibility is the sharp.eycd Paying or
First Teller. His are usually the custody
and disbursement Of the funds, often
amounting to several millions Of dollars.
Even he in some banks is not trusted
with exclusive guardianship. Uombina-
lions known only to himself and another
official govern the opening Of tho lock
that secures the outer door oil the vault;
other combinations known only to other
persons guard the second door: and rs to
the interior compartments still other in
dividuals may have sole custody of the
secrets giving access 10 them. But of the
cash IN his own compartments he has sole