The Washington weekly post. (Washington, D.C.) 1878-1916, 1900-11-07
ODD IDEAS OF BANKING
Queer Theories Entertained
by DepositOrs
EXITING" TO RAISE READY MONEY
Imyrevident Yssns Men Whs Are Short
en- Salary Have Devised m Absolutely
safe Way % Obtain Money fer Week or
Tws-Feminine Depssifsrs VI no Are sur-
prised By Banks Tcllins Them They Have
Overdrawn Their Accounts.

An average Utilander to the workings OF
a banking institution entertains some
wierd opinions in regard TO its operation
and seems to look upon ii as q mysterious
system OF modern witchcraft which calls
for display OF childlike confidence In an
old stocking. Among other vagaries, 1t Is
surprising to find how many people ap-
parently think that q cheek Is charged
against their account simultaneously with
Its creation and even before IL has been
rendered In liquidation of an obligation.
A marked feature of the so-ealled bust
hess relations existing between banks ard
their women depositors is the periodical
three-act comedy of errors. the details Of
" hich so seldom vary-the overdraft in
fair ones account. The role of heavy VII
lain Is curiously divided up between the
individual bookkeeper and some one Of
the tellers. The development of the plot
is quite simple. The heroine takes an
evening of from her more serious duties,
draws up number OF checks, and mails
them broadcast. On the following day, or
possibly the second day, she pays visit
TO the bank to ascertain her balance. The
bookkeeper states the amount apparently
due her. carelessly neglecting to allow for
the outstanding checks, the existence OF
which is entirely unknown TO him.
Delighted to find that she has so much
more money than she supposed. the con-
fding heroine proceeds 10 check wildly
against the figures she has been given. An
overdraft follows. which is in turn follow
ed by another visit to the bank, and an
indignant demand for an explanation of
the insult. She recalls quite well that on
such a day the bookkeeper informed her
that she had certain amount OF money
in bank, since when she has drawn but
little more than half that sum- long
line of impatient depositors is kept wait
ing while the emotional scene is being
played, and the curtain is Iung down upon
d dramatic climax that requires neither
green light nor soft, low music to add to
its intensity.
Cheeks TO Pay Overdrawn Accounts.
A somewhat rarer experience is the case
of the army or navy officer winding up his
business affairs prior to his departure for
duty in some distant cline. He calls for
his balance, inquiries whether or not II In
Guides outstanding checks, and upon re-
ceiving negative reply blandly wishes to
know If 1t would be too much trouble for
the bookkeeper to make out a list of such
checks as have not been presented for
payment
Quite a number of depositors of pre-
sumable education and intelligence have,
upon being notified that their account
was overdrawn, RENTED check for the
amount against the very same account In
apparent good faith.
Not many years ago. an erratic woman
depositor of a certain bank laid a CON-
int h. tafl la4n
one of the directors. She stated that the
teller, to whom she referred as that lit
tie black-eyed rascal" was building entire
rows Of houses with the money he had
stolen from her. The director said that
he did not think that 1t could be as bad
as that. that the teller In question was
pretty honest. She insisted that he was
not, and added that on that very morn
ing she had received sum of money
from him in exchange for her check, and
it was less than 1t should have been. She
knew this. because she had gone out on
the street and requested eight or ten peo-
pie to count it, and they one and all had
declared that she had not received
enough.
In striking contrast to the above type
is that limited number of depositors who
understand the game and can beat 1t.
The shining lights in this class are the
improvident young government clerks.
Their stock In trade consists OF bank
account and sublime nerve. The bank
account Is easily arranged and does not
require any real capital. The sublime
nerve-well. that goes without saying
Their method, which is quite simple, Is
known as "kiting.''
How 20 Fly Kite.
For instance, supposing one Of these
Napoleons If finance is up against IT, in
the middle OF the month. He needs GER
tain sum OF money and cannot raise IL
among his friends. He has a friend, how
ever, who resides in San Francisco, or
some other place equally far away. BY
the expenditure Of a few cents to defrav
exchange charges. he Is enabled TO cash
at his bank sight draft upon this friend
for whatever amount he wishes. The next
step is TO write to the drawee, explaining
what he has done, and inclOsing a check
upon the same bank for the amount of
the draft. The letter. of course. arrives
first The friend holds the check until
the draft arrives. then cashes it and pays
the draft. BY the time the check gets
back to the bank. It's maker has received
his salary and deposited enough 10 meet
the kite" An experienced "hter' IL
ways decorates the draft with mo pro-
test ticket TO avoid complications, should
the friend be sick or out of town.
II might happen that no friend resided
Ia a sufficient distance to create the re-
quired space" That Is a mere trihe
The draft is upon an imaginary person
and not unnaturally comes back unpaid.
indorsed party not at address given"
The bank notifies its deposition. who cheer
fully takes 1t up. as his desire 10 gain
time Is accomplished.
There are, Of course, many ways OF
"kiting." but this one Is the simplest. and
therefore the best. Moreover. there is no
risk about it. as the arrangement Is a
purely business one and cannot "fall
down. The employees of the bank may
"get wise" 10 the scheme and break II up,
but in many cases they sympathize with
the "kiter' and are proportionately dis
Greet.