The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1894-10-20
Bank Runners" "

]
ners. of Wall street. it would be hard I,
find. There are old men. grown gray il
the service, who have been running arounC
the same streets and in and out of the s;mt
offices for the last forty years. Then there
are the youngsters, boys just out of school
who feel very large to think they are
downtown And between these tw,
extremes of youth and old age are col
lection of men from every walk in life.
from the bankrupt broker and unfortunate
business man to the awkward raw -boned
farmers boy sent to the city to win his
way.
They are started out in the morning
about ten o clock, with fifty or sixty papers
to collect There are sight drafts. notes,
! coupons and miscellaneous lot of other
matter that must all be collected before
three o clock in the afternoon. These pa:
pers are arranged in proper order before
the messenger goes out. and the head of
the department knows exactly what each
man has in his possession and can come
pretty near locating him at any hour of
the day. Every runner. young or old. is
supplied with large leather pocketbook.
generally strapped or chained to his waist
in which he carries his papers and the
money and checks which he receives.
1t is no uncommon thing for man to
collect three to six thousand dollars in cash.
while the amount in checks runs way up
in the hundreds of thousands 1t can be
readily understood what temptations are
put in the way of these underpaid hard
worked messengers. and their honesty un-
der the circumstances is little short of sur
prising
The salary of these men ranges from
twelve to hundred dollars month"; They
have to report early in the morning. and
after being on their feet all day are often
obliged to stay until 9 or 10 o clock at
night If they return not good check
"A minute late and payment is refused they
are mercilessly hauled over the Goals, and
repetition of such an offence is sometimes
followed by dismassal Yet great deal
depends ON these same runners and fire.
efuently their quickness and forethonght
save the bank thousands of dollars.
As many people know, every bank that
belongs to the Clearing House has a num-
Der, and their respective runners. instead
of being called by name, are greeted with
Hello, 21r or Hurry up, 33r 1t
is an understood rule thas messenger 5
business must be attended to before any
thing else, and long line at the paying
teller window will often be kept waiting
when some gray bearded man or rosy
checked boy rushes in and thrusts forward
bundle Of checks Sent wrong to 23r
One of the most interesting institutions
in the country is the Clearing House. and
few outside of the business world ever
know what that name implies. 1t is one
of the greatest labor-saving arrangements
ever thought of. for it is there that the
banks returns to each other their respec-
tive checks.
The Clearing House is situated on the
corner of Pine street and Nassau, Just over
the Chase National Bank. In large
room are four rows of decks all facing the
same way like school. Each desk is
numbered and belongs to certain bank,
and is presided over by II clerk sent from
that bank. Another clerk stands in front
of the desk with large bag containing the
checks to be returned These are done
up in bundles. with the total amount and
name of bank on the outside of each. and
the clerk alsO has slip with these totals
down in proper order.
Precisely at 10 . clock gong rings and
the procession starts all moving in the
same direction and stopping long enough
before each desk to drop Il package and
get a signature opposite the amount on the
slip. In eight minutes ii is all over and
every bank has received its own checks
If a bank sends its checks even a second
late it is fined 81. 50. as rule. everybody
Is ON time.
Frequently checks will get into the
wrong bundle and. of course. go to the
wrong bank Here again Is more work
for the runners. for these are the sent
wrong, and must be returned to the
proper banks before o clock the same day.
The first Of january and the first of
July are, however. times the messengers
dread 1t is then that the interest on
most of the semi annual bonds is due and
the runner is kept racing from one office
to another as hard as he can 90.