The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-12-12
INSIDE A MODERN BANK
DETAILS OF OPERATIONS LITTLE
KNOWN TO THE PUBLIC.
Large Force Must Labor Industriously
Duties of Those Connected with
Such an Institution.
Philadelphia Ledger-Times.

ject and the ma jority of the people who
do business with the banks will be sur
prised to learn that one of these institu-
tons employs more than 400 clerks in addi-
ton to the board of directors, the presi-
dent. two vice presidents, a cashier, four
assistant cashiers, an auditor, attorney,
a manager of the bond department and
manager of the foreign exchange depart
ment.
In this bank. as in all well-managed
financial institutions, the president is the
head, and he. with the vice presidents.
cashier. assistant cashier, auditor, attor-
ney, manager of bond department and
manager of foreign exchange department
is elected appointed by the board of
directors, who direct the policy of the bank,
although the president has full authority TO
act as he sees best in all matters pertain
ing to the general business of the estab-
lishment. Having defined the duties of
the president, who supervises and con-
trolls the entire bank, we will follow each
officer and clerk through his duties of
the day.
The vice president attends to certain city
discounts and has under him the cashier,
who has charge of the reserve vault, and
to all advertising and a part of the city
exchange. These cashiers, with the first
assistant and fourth assistant cashiers, the
latter having charge of the special col
lateral vault, receive the reports of the
manager OF the city accounts, who is re-
sponsibe for overdrafts and whose duty
il is to initial all deals connected with his
department
He has under him a sorter, who sorts the
checks and credits according to books and
the items received from the note teller; one
Of the paying tellers. receiving teller and
manager of the mail and collection depart
ment; eighteen bookkeepers, who enter
items on journals and take off the balances;
nine statement clerks, who write daily
statements from original items, extend bal
ances and prove the tellers figures; two
cancelled voucher clerks, who sort the
checks received from the bookkeepers be-
fore returning same to depositors; one gen.
eral assistant. with four helpers, who do
general machine work such as canceling
checks, etc; two passbook clerks, who keep
a record of certified checks and receive
vouchers and passbooks. with statements
from the auditors department., and deliver
same to customers.
OTHER DUTIES OF CASHIERS
Under these cashiers are also the man
ager of the collection department, who buys
commercial paper for out-of- town accounts,
proves timing of collections and examines
all paper which goes through the depart
L.
town collateral and attends to the CORE
spondence of the department. Under him
are the assistant collection clerk who waits
on city customers and attends to ex-
change deductions and minor correspond
ence: the second assistant clerk whose
duty it is to make out credit tickets and
send to the note teller with collections the
night before they become due, receive out
of-town discounts from the discount de-
tnn before for
lection and run acceptance book; then
there are five ledger keepers, a timing
clerk and city ticker CLERK: The latter
enters all city notes under due date and
takes the items from the files and turns
them over to the second assistant collection
clerk two days before they fall due.
The next department over which these
cashiers have supervision is the discount
department, presided over by a manager,
who attends to city warehouse receipts,
nity bonds besides figuring the margins
on loans The assistant manager examines
the paper taken on the previous day and
proves the time the same, looks after
the discount clerks, who figure the dis
count traces out-of-town items and figures
demand interest monthly, and the collateral
and filing clerks, who run the collateral
and insurance books. and file discounts
according to maturity. In this department
are also a registry clerk, three bookkeep-
erS, assistant discount clerk and two
telephone boys.
THE CHIEF CLERK.
The chief clerk who has general charge
of the entire office under the president,
looks after the note teller, whose depart
ment consists of an assistant, who waits
on window, accepting currency in payment
of notes and receives returns from the
collectors. two bookkeepers. a correspond
ent and transfer clerk and assistant;
two paying tellers, who have three as
els Mt ms vi al nf hn
currency and three assistants, who weigh
gold and assert currency, separating the
old bills and national bank notes. a book
keeper and assistant, a clearing-h house set
Element clerk, who figures out the debit
or credit balance of the bank at the clear
ing house; a manager and five assistants
of in clearings, and the same number of
men tor out clearings; a currency clerk
and assistant.
Then there is the receiving teller, who
ceives deposits and handles all cash. and
the assistant tellers, who enter checks and
take off balances. Under the paying teller
are sixteen men assistants, lady teller and
assistant, a railroad teller and assistant
and silver teller and assistant This de-
partment also includes draft teller and
assistant, two draft writers and an assist
ant TO the cashier, who signs drafts for
that official.
The next important official is the second
assistant cashier. who, with an assistant,
looks after the out-of-toWn accounts. He
also has supervision over the domestic ex-
change, the kilograms and mail. There is
a manager of this department who buys
and sells all domestic exchanges and re-
ceives and translates all kilograms which
may be received in cipher. makes tele-
graphic transfers and Identifies by sigma
ture out-of-town parties who present drafts
for payment. He also has charge of all
currency shipments and runs the pay roll.
He has three assistants and a telegraph
operator.
This cashier also has charge of the mail
department, which is under a manager, and
consists of three letter sorterS, four letter
writer's, two sellers, one stamper manager
of collectors, a reconcilement clerk, with a
stamper, a sorter. a bookkeeper, twenty
checkers, who check all letters to see that
all Enclosures properly listed, six
spreaders, six cutters, two sorters, who
sort the mail before il is opened, and two
messengers. who do nothing but go 10 and
from the postoffice. Then there are six ad-
chine men, bookkeeper and thirty collec-
tors. The auditor. who reports to the d.
/ rectors. examines each department when
ever he thinks IL necessary. He has an as
sistant, a reconcilement clerk and assis-
tant, out-of-town clerk. city clerk and
assistant, a difference clerk and assistant
| and a stenographer.
BOOKKEEPING.
The general bookkeeping department en-
ploys a manager, who watches rates of
exchange charged up, examines all out-of-
town cash items of over $1000, and looks
after things in general. He has assistant
and five general men who can do any work
In the department and fill vacancies caused