The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1903-04-29
MACHINERY os tho Modern Bank.


Sol great has been the development
OF New York banks within recent
years that the modern bank to-day
bears slight resemblance to she old
fashioned institution Of two decades
ago. Radical changes have marked
this transition from retail TO whole
sale hsaIs;;:ss, hsaIs;ss, s; Sumo cf5 lnne9s pertain
TO New York alone, but in most caaes
the new order of things has modified
banking methods at i'm nes.=ss.. SSaan tres tu
everywhere. In this city especially
the tendency has been TO increase the
force Of assistant cashiers, so that
the larger banks now employ from two
70 six. In discussing the more i'm
portant changes William o. Jones,
,ss!;c ,'!;c .sas lately iatsiiy called from the Chase
to the National Park Bank, Of this
oity as assistant cashier said:
During the last decade and . half
probablyno position connected with.
banking institutions in this country
has become SO universally adopted and
SO generally recognized as that Of
assistant cashier. Fifteen years ago
the position OF assistant cashier, as an
adjunct to the executive force Of q.
bank, was the. exception rather, than
the rul To-day the reverse is true,
and banking institutions generally
Gncludipg those having only mod
crate capitalization and occupying q
romewhat restricted field, } employ the
services OF from one to Eve assistant
cashiers. The necessity for the crea-
ton and the general recognition Of.
this Office has been accelerated by the
phenomenal expansion Of the banking
business. ,a a
s: lot very long ago the entire bur-
den Of conducting. . bank 8 affairs rest
ed almost solely upon the cashier,
with, perhaps, an occasional sugges-
ton from the president. Then the
cashiers duties consisted largely in
the acceptance of deposits and in the
granting Of advances to local custom
'ers, with whose affairs he was snp-
posed to be thoroughly conversant.
The tone.man' bank is now, however,
. matter OF history. The intense ag
gressiveness, sharp competition, diver
.sified departments and enlarged field
Of operation which ehh..T7::5ssv1ize the
progressive modern banking institu-
:tion Of to-day, call for the best talent
of many men. II,
The management Of an up-to-date
bank is, in many respects, analogous
to that which oharaoterizes the mod
Iern department store, with various
departments run by men thoroughly
trained for their specific duties by.
years Of intelligent study and constant
application, bnt all subordinate to and
cooperating with their superiors.
The modern bank ie q composite or
.ganization, embodying ina large de-
gree the more salient point Of the de-
,partment store. IN addition to re-
tanning the deposit and discount fea-
lures it has added o credit department
and information bureau, registry and
transfer department, foreign exchange
and purchase aud sales. OF alls these
aa;:==;;sions Z; the credit branch is, per.
haps, the most elaborate. Il has be-
come so usefnithatswe allwonder. now.
the banks ever did business without it
so long.
g NoWadays when q aSlarge loan 10
asked FOR OF o customer desires infof.
nation respecting the standing Of d
certain corporation, firm or individual,
the machinery Of the credit depart
ment is at once set in motion There
data are within easy reach. having
been fled for ready references, aud
cover pretty much everything worth
knowing about q concern . affairs.
Being derived from Independent sour
Gee, the Information is much more
complete than that furnished BY the
ordinary bommeroisl report, and gives
q great deal that is Of value concern-
Ing the subjects business career and
the enterprise with which he has been
identified. ESG
s Ont-of-town correspondents of large
city banks do not hesitate TO request
an expression of opinion IS to the
merits of various GLASSES Of ipyeat-
ments, and, while, the Judgment Of
some Of the higher officials may deter
mine.the selection or rejection Of the !
:sames the major portion of tho labor
in connection with such purchase and /
sales usually deyolves uponithe loan
n IN ch aryaS of q lea ar ma Il