The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28


require FROM three to five days in the
time to get returns from the checks de
posted and will cost the bank in actual
cash not less than $500 on each deposit.
not taking into account the interest on
the amount in transit. So We see that by
the time we get returns for the first days
deposit, the entire balance is practically
gone, being tied up in floating checks.
therefore,, what one would call Il handsome
balance is simply a fictictious one-even
a snare and a delusion. If you suggest
to him that he pay the cost OF collecting
these checks. he will promptly tell you
that the other bank down the street viii
take his account and make no charges
for like service. This should not be
50, but | dare say that with few ex
ceptions, every bank represented here has
many accounts operated on this basis 1t
is the duty as well as the privilege of the
depostor to feel that there is a strong
bond of mutual interest existing between
himself and the bank. and to recognize
this relationship, realizing that the sue
cess OF the bank means his success
The depositor should feel that in a
sense his banker is his partner in business
and should render periodical statement Of
his business, showing his full and correct
financial condition. 1t is not infrequently
the case when borrowing customer is
asked for a statement of his affairs, he
will take offence, and think that his in.
tegrity and intentions are questioned,
when such is not the case, for the banker
only wants to know what he is doing
and upon what to hse a line of credit.
1t is a very safe rule to avoid those Gus
toners who will not make statements, for
almost invariably is it the case that there
IS something in their condition which they
are unwilling to make known and which
would indicate a position of weakness.
The next thought which / would sug-
gest as the duty of depositor to the
bank, is that he should always have funds
TO his credit before issuing checks, and
not overdraw his account. 1t is not fair
to his banker to test his generosity in
this way for he cannot always bestow
favors of this kind 1t is not only I'M
buslness-hke to do so, but it often places
the depositor in an embarrassing position
to have his checks refused and il some
times gives him serious trouble 1t is a
depositor's duty to be thoughtful in this
important matter as well as to be punctual
in meeting his obligations to the bank.
This he owes, not only to the bank but to
himself. for promptness In this particular
will place him in favorable position with
the bank well as with the business
world. It viii give him good credit stand,
ing, and enables the banker when asked
regarding him to say that he is prompt
nj n aft Inn 70 I,I-
matters and in meeting his obligations.
50 few, even those whom we term good
and successful business men. seem to real
ize the great Importance of these things.
and yet they mean a great deal to the
depositor and to the bank The matter Of
overdrafts and past due papers is one of
continual annoyance and trouble to the
bank, and the depositor should feel the
weight of the responsibility resting upon
him to such degree that he win leave
an else undone if necessary to prevent
such occurrences.
These few simple suggestions have been
made from the standpoint and experience
OF a country banker. and if they can be
used IN anyway that will be Of practical
value, or can be made to bear any good
fruit, l shall be more than satisfied. If
we could put into practical operation
and carry to some degree of perfection
the thought that the bank and the de-
posltor are closely identified. one with the
other, that their interests are mutual
that the prosperity and stability of the
one means the prosperity and stability Of
the other, then we would have condition
existing that would tighten the burdens
OF both. enable US to do more and better
work, feel and be better live happier a.d
LONGER lives
ELECTION OF OFFICERS.
The election of officers for lie new
year was then taken up and resulted a.
follows:
President-Lee H. Battle, Greensboro.
Vice President-F. H. Fries. Winston
Salem
Second President-Andrew More
land, Wilmington.
Third Vice President. c. Braswell.
Rocky Mount.
Secretary and Treasurer-c. n. Evans,
Charlotte.
EXECUTIVE COMMITTEE.
George w. Montcastle, Lexington; John
F. Bruton, Wilson; R. T. Watt. Reidsville;
w. H. Twitty. Charlotte
DELEGATES TO AMERICAN BANKERS.
ASSOCIATION
James p Sawyer, Asheville Julian S.
Carr, Durham. Alternates, Charles Blan-
ton, Shelby w. E. Borden, Goldsboro
This gives to the association officers
who will in every way advance not only
the interest of the Association but the
banking interests OF North Carolina, and
as the banking interests Of North Carolina
are vitality connected with every other
interest, it means that it will promote
the financial and industrial prosperity of
the State
INFORMAL ADDRESSES.
Informal speeches We're made by the
following visitors: Col w. j. Roddey,
Rock Hill, S. c.; w o. Jones New York:
w. P. Calling. Lynchburg. Va; c. X
Burnett and T. x. Sands, Richmond, Va;
w A. Law, Philadelphia; c. H. Senaur
and L. P. Hilton, New York Among
other things, Mr.. Roddey said 1.-The
talks here have had the true ring. In
building bank we must build on granite