Indian chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1882-1902, 1901-10-17
ENGLISH BANKING CUSTOMS
Interesting Points OF Law ana Prac-
tice That A.. Like and
Unlike Ours

Bankers adopt various systems of
marking dishonored checks, but Il Is
done in such manner that the person
TO whom they are returned may ex-
cusably protest that the bankers am
swer is uninteiiigible to him. r. d.
(refer TO drawer) are the letters which
are most often written upon a dis
honored check by a banker, and their
meaning Is that the drawer has not the
money standing TO his credit to meet
the check he has given, says the Lon
don Mail
MS. (not sufficiently implies that the
drawer has some money standing TO
his credit, but not enough to meet the
check which the banker has thus
marked. A banker never states the
amount of the deficiency, nor will he,
IL asked by the presenter, give any
idea of what sum Is standing 20 his
customers credit, as the payee, were
he supplied with this information,
could pay in the sum wanted, and then
represent the dishonored check, when
the banker would be bound TO honor
IL.
In Scotland the presentation of n
check entities the payee or holder to
lien upon any smaller sum that may
be standing to the drawers credit.
In the eye Of the law your banker is
liable upon any forged check which he
may have debited to your account.
For forged Endorsements, however,
the paying banker Is not liable. and II
is therefore most important that you
should receive an acknowledgment of
all checks O,spatched by you through
the post from the persons TO whom
you send them. In sending checks
through the post IL Is always well 10
remember that a bona-fide holder who
gives value for a stolen check, provid
ed IL is not tainted with forgery, can
sue you, whereas, IL the words mot
negotiable" be written across the
check, he cannot.
Many people have somewhat hazy
notions about out-of-date checks, yet
the matter is quite simple. The draw
er does not cease TO be liable upon the
instrument until six years after the
date thereupon, though most bankers
would probably decline 20 pay a checl
that had been outstanding more thar
six months. The drawer may CLAIM
damages from the payee IL he caI
prove that he has suffered los
through his delay.
II n banker return n customer
check when his account in reality is il
funds the customer can bring an &C
tion against his banker for damages
and adds Mr.. Warren, the banke
generally prefers TO settle such a cas-
privately.
The question Is often asked: "Wha
balance should a customer keep with
bank in order to entitle him TO hav
his accounts conducted free O
charger"
This Is answered as follows: a.
small account in tho provinces. upo
which an average balance Of $50 /
kept, will be conducted hee, and
II does not appear customary to debi
iuch accounts in London with an
commission provided n credit balanc
bf from eco to elO0 be maintaine,
II, therefore, your account be of thi
description and you find n debit {
as. Cd. or IS. in your bank book, by n
means decline TO pay Il, for IL may a
well be stated at once that n joir
stock bank official often considers III
nature of the customer as well as th
, nature Of the account, and that h
, will, II he thinks you look juggin
debit your account with n few shilling
at the end of each half year.