Fisherman & farmer. [volume] (Edenton, N.C.) 1887-19??, 1894-11-02
CLEVER MONEY HANDLERS.
NEW YORK BANK TELLERS DEAL
IN MANY MILLIONS DAILY.
What is Required of Them-Their
Duties Are Confining and Exact
ing-Some Specimen Errors.


Of money passing through their hands
is something enormous. At the close
Of business on the first day Of the
month the sixty-fve banks that are
members of the Clearing House held
in legal tenders S121, O00,000 and in
specie S91, 900, 900, which will give an
idea of the extent of their business.
The payment of these holdings on
various accounts makes the paying
teller a most important person
age, and in many respects he Is
indeed very remarkable combina-
ton of activity and industry.
The paying teller of New York
bank has no "soft snap" The duties
of the position are combining and ex-
acting. They involve immense re-
sponsibility and hard work and so
heavy is the strain that the health Of
many of them gives way at a very
early period in their career. Asked
to explain just what the paying teller
is and is expected to do, one of those
officials connected with a prominent
bank gave some interesting facts in
conversation with a Commercial Adj
vertiser reporter.
First of ALL, said he, "the Office
requires quick-witted man, and es-
pecially is this true in establishments
transacting large business and where
there is long line of customers await
ing their turn. He must form his
Judgment instantaneously he has no
time to hesitate or look at the balance
ledger or consult the cashier or presl-
dent or cross-examine the holder with
a volley of questions.
sYou may safely regard it as a well
determined rule that every paying
teller unconsciously propounds to him.
self these three questions whenever a
check is presented for payment: Is
the signature genuine? Has the drawer
an amount of money in the bank suf-
ficient to cover the same? Is the
holder of the check entitled to receive
the money? With these questions
answered to his satisfaction the rest is
clear enough.
''Strange as it may appear, 1t Is but
rarely that bookkeepers and expert &C
countants qualify for the work of q
successful bank teller. AS rule the
mon selected for that position have
previously been trained in some branch
of the teller's department. There is a
general notion that the teller's duties
are confined to the simple handling Of
the money to be paid on checks. This
is quite erroneous. AS a matter Of
fact he is compelled to know the exact
standing in a general way of all the
customers and depositors. The bal
ance ledgers are used for this purpose,
and these he consults frequently dur
ing the day if uncertain how to pro-
coed.
I'm most banks certain sum of
money is placed in the hands of tho
paying teller every morning. These
amounts vary according to the extent
of the average daily transactions. In
some of the smaller banks the sum
thus given to the teller is not over
again as much as $500, 900 is placed in
his hands every morning. All of the
money thus received is carefully
counted by the tellers, the small bills
being checked off by the package and
not handled singly. In the smaller
banks the tellers count off every
single bill, the smaller as well as the
larger. This counting of bills is al
most fine art with many New York
tellers Years of familiarity with
paper currency have made them ex-
pert in the tint, engraving and thick
ness of the bank notes passing through
their hands. In old times the State
bank notes gave considerable trouble,
but since the adoption of the National
Bank currency the labors of the
tellers have been greatly reduced,
though the occasional appearance of
counterfeit National Bank notes keeps
them constantly on the alert.
"When the Clearing House for the
New York banks was established forty
years ago our bank tellers hailed tho
movement with great delight. Previous
to that time each bank employed
messenger for the purpose of visiting
the others, and the tellers were re-
quired to cash all checks thus pre-
sented the same us in the case OF in
dividual holders. Imagine such
methods in use at the present day!
The burdens of the tellers have been
much relieved since the establishment
of the Clearing House, and now all
checks are sent to one central office.
The amount of money represented by
these checks sent to the Clearing
House is something enormous. A
single bank in this city has been
known to thus send checks represent
ing S15, 900, 900 on a single day.
"What is known as counter bust.
ness, which represents cash paid out
by the various banks, is also very ex-
tensive. The checks drawn on vari-
Gus banks in this city represent about
500, 900, coo daily, of which it Is esti.
mate that $50, OOO,O 900 is paid over the
counter every twentyfour hours in
the year.
''The handling of this large sum is,
of course, not unattended by frequent
errors, and it is only surprising that
they do not occur oftener. Not many
years ago bright teller of excellent
reputation paid out ten $1,000 certifi.
Gates instead of a single certificate.
The error cost him his position. An
other expert bank teller was careless
enough to hand over the counter two
packages each containing 100 ten-dol-
lar bills instead of single package, a
pin fastening the band of one package
having caught in the other. In this
instance the overpaid amount was re-
covered
''For the faithful performance of
their duties tellers are required to
furnish bonds ranging from $4,000 to
$4,000. Their compensation ranges
from $4,000 to $4,000 per annum, with
an annual holiday gratuity equal to
ten per cent. of the salary. The posi-
ton of paying teller has always been
regarded as a stepping stone to the
cashiership and frequently to the
presidency"