New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-04-01
SKINNING THE HORIZON.

To the Editor Of The Tribune.
Sir: \ large proportion OF checks drawn upon this
bank pass through the New-York Clearing House.
and I presume I'm this respect most Eastern and
Central country banks would show q like record
The action OF the association In placing on the
free list" checks certain large cities and I'M
posing tariff upon all others means a direct tax
on the greater number OF checks drawn on all
Eastern and Central banks outside OF these few
cities II Is not surprising that some difference OF
opinion is extant The claim OF the New-York
banks that IL takes time and trouble TO handle
these checks. and when they are received and
credited at par involves a loss OF interest. rs quite
plausible and perhaps reasonable. Handling checks
for Its dcposors is. however. the legitimate bust
ness Of bank. and the country banks against
whose checks the association Is discriminating
maintain balances OF millions Of dollars In New
York This line of balances is the safest most I'm
portant and least annoying OF all varieties OF de-
post accounts. The reserve balances are very
valuable the city banks and eagerly solicited
one OF the largest banks in the city Of Network
has printed AZ tho foot OF its advices OF credits
Payments OF collections out OF this city are as
rule advised by our correspondents, but If not al
yised are charged up and endorsers credited SUD-
sect 10 reversal. after allowing reasonable time
TO receive notice Of non payment lhis means
that this bank does not credit out-of-town Items
until is reasonably certain II has received pay
ment and credit for them. There is no apparent
loss OF interest in such business.
The New York bankers as a rule may p' reli"u
upon to intercept their Just proportion or whatever
profits are involved IN any transactions within their
jurisdiction but this last operation Is suggestive OF
Mr. Dooleys quotation: I've skinned the horizon
fer ye Mack . $500. .
There ia no doubt who will reap the beneht or o.,
these charges but II Is interesting to rote VINO VIII
nav them. IT is reasonably obvious that IL mus.
come from the profits of the dealer and not IRON
tho pocket OF the consumer. Competition VIII no,
hermit the seller compel payment In Ne" orK
exchange and country banks Will not FURNISH *
cha rye free OF charge to any but very oesh"pe
Assuming that the action OF the Clearing House
snce 10 the general business OF the country, alu
as An impediment the existing facillteS TOT put,
chase and exchange between distant lolnlS an AZ,
when ono reflects that the integrity or these lacll
lies IL radical to the vitality, deNclopnltnt hIu
rower of The city banks. II would appear ts tnousn
ibev we're taking almost everything In slgh' cow"
Ia the horizon. :, IL, -.horo le
osnccallv I'm the country. steanHy Ht,te t ',rn
NJ ,o6e, Of persons who either nave no pahk 81
| lourt or else prefer To bank In the nearest he
,ifv Usually the banks accommodate mes peop.e
~ c9shit;e occasional check and make no
ther,o Graduallv such persons nave come 10 con-
eijar tho local banks In some wa! cIcdtc " -
| GOD government and obliged by law 10 cash c"'0"'
DO not believe the present rules VIII op'aIi an 'eessi
t = Ia heheve their temporary operation ana Hldi
80 ,,ionnont INFO A more reasonable coileGuon ~,
,crn VII no very salutary. Banking privileges anu
! I'D nature are much abused --,r1U-ooD
Cashier Southport Natlonai Damn