New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-08-30
BANKING MADE EASY.
Check Books for Little Depositors
Messenger Sent for Your Money.

meant something for a small business man.
young lawyer or clerk to have 4 bank account
1t meant that he kept balance OF $3.50 or 500
at least. and that he was beyond the saving.
bank stage
Now this is no longer so. An eight dollar-a-
week clerk is likely to say. IN Just write you
a check for it." and follow it up by filing out j
piece of paper that would impress a Wall Stree;
broker of the old days with its engraving. The
clerk may have balance of only $17 80 but be
can check out the seventeen without word OF
protest from the cashier. Even newspaper re
pOrte-s are known to have checking accounts
these days
1t only a few weeks ago that the up
town banks instituted new departure. the
house-to house. or rather store-to-store. cOlec-
ton of deposits by messengers. whom the banks
paid. In some parts of the city the bank mes
senger now follows regular route. starting out
perhaps. an hour before the closing hour of the
bank. He calls on all customers receives their
deposits and enters the amount in their bank
books. On paydays or other occasions when
the customers desire to draw. they telephone the
bank and a messenger brings the money 1t is
undoubtedly bringing new business to the banks
which follow the practice-how desirable the
business. however. remains to be seen.
The department store bank is not old enough
to have passed the novelty stage. Several OF
the uptown stores operate fun fedged banks
They give out elaborate check books. and no
amount is too small to open an account
Many of the older banks have cut down the
amount of balance required. There are many
new trust companies, OF Undoubted stability.
which will receive deposits subject to check. and
even pay = per cent interest on the balances
In fact, some of the trust companies are doing a
veritable department store business. one per
son may have several kinds of accounts in the
same bank
First, there is the small checking account
very active and of little value to the bank. on
which the interest paid is perhaps - per cent
Then comes the inactive checking account. with
3 per cent interest attached. This account is
subject to checks in case Of emergency. the
deposition deciding the emergency. Then there
IS the certificate of deposit to run for 4 stated
time six months or a year. This may be made
payable to a man or his wife. to either of two
partners or to the survivor. This form OF de-
posit viii draw 319 and even per cent interest
Several uptown trust companies which ATE
loosely connected with national banks down
OVID nave an arrangement whereby their Gus
omers can deposit in the national bank by
ringing their passbooks. This is a great say
ng of time. and one need not visit the home
'ank once a year unless convenient.
1t is no trouble at all to open trust company
ccourt. One is Ushered through marble halls
o the mahogany fitted quarters of one of the
Ulcers. He asks the balance one expects 70
eep. and states the interest that will be al
owed Then one registers in 4 big book lame
'usinesS and residence address, occupation etc
Now. is there some one in this vicinity who
an identify you?" asks the banker. blandIy.
That may be puzzler. Perhaps one hes
one far from the home precinct in search OF a
ank. When suddenly called upon to put his
niger on some one in a particular district who
nows one is not easy In New-York One may
ave a hundred acquaintance and friends
bout City Hall Square and not one within
lille of Twenty-third-SL and Fffth-ave II does
o good TO reach in pockets for letters or to
SIX the banker to telephone to ones office Per
onal Identification is necessary. and il is well
D have some one ii mind before going to the
ank.
My savings bank days are over" said one
Dung man. who had just received a blank book
watered paper checks. NO longer viii I have
} stand In the long md greasy line when Z
eed TO draw out money. No longer will I De
allied upon for my mothers maiden name. It's
check for me now just the same as the boss
But will the young man save as much under
lie new order Of things: There never was any
clay about putting money into i savings bank