Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-03-10
Local Cashier Talks to the News
Regarding Complex Upto
Date Finance.
ADMINISTRATION METHODS.
low Big Institution is Divided Into
Separate and Distinct Departments
Covering All Features.

"There are great many things to
think OF. and Judge Of at once" said
local bank cashier today, TO "a News
reporter. AS time goes on and gem
eral business increases and extends In
greater number OF directions, the
matter OF banking becomes more and
more complex. In banking, as IN the
world OF scientific investigation, there
IS a constant tendency towards speclal-
ization, so that what Is general IN elias
slhcatlon today becomes but subdl-
Vision itself, the species Of a new clas-
ancatou tomorrow. Ten years ago the
head OF banking institution might be
able to carry In his head q wide range
Of commercial detail that It would b.
impossible for one man now to manage.
This fact is well illustrated by the
methods Of administration obtaining
with the First National bank Of Chi
cago. IN that institution the business
Is divided Into departments, presided
over by a vice president and stan of
clerks separate from the other depart
ments As for instance, there is the
law department real estate depart-
mont, an agricultural machinery ana
implement department a railroad de-
pertment. bond mortgage ana socur-
ties department, corporation depart
ment, statistical department de-
partment covering the dry goods, hard
ware, and drug trades and other de-
partmcnts covering yet other groups OF
classified trades and manufacturing In
III .Ir trs
ment proper with its fun clerical force.
Each branch Is supposed TO be fully
posted IN all Of the minutiae OF SIS bus.
iness and able TO furnish ut short no.
tice any Information that may be call
ed for by the higher officers OF the
bank The president does not bother
with details; he directs In matters OF
policy and general administration and
where individual responsibility Is to be
assumed for the action OF the instltu-
ton Of which he Is the head. The le-
gal department is becoming very inn
portant feature OF a bank with the
increased diversity IN the branches Of
commercial transactions, already refer
red to, there Is b corresponding in
crease IN the diversity OF legal prac-
tise There has come to be separate
schools OF law for corporations rail-
roads, banking, crime, equity and tort
manufacturing industries the general
laws governing commercial transact
lions probate administration munici-
palties, international transactions, cam
onic or ecclesiastical administration,
medical jurisprudence constitutional
questions, and other Departments ! do
not at the present think Of. A good
banker must be posted on all such fen-
lures Of these various schools or
d a
banking transactions or the handling
OF money or securities Such questions
as the validity Of endorsements. many
nice questions involved In the handling
OF negotiable securities which often call
for immediate decision, scrutiny Of sig
natures, the extent TO which Ovcrdrafts
may be honorcd. correct estimate OF
commercial standing Of individuals. IN.
stltutions and corporations rates Of In
terest rates Of discount, rates OF ex-
change, advantageous placing of loans,
the extent TO which confidence
may be placed In parties or corpora
lions seeking loans or the credit Of the
bank, counterfeit money and thous-
and and one other things that enter
into the daily detail OF banking trans
actions, require a mind trained for
years into habits OF thought specially
pertaining to the banking field, and
particularly the handling OF securities
whose number Is become legion and
cover every conceivable form Of COM
mercial transactions, Only young men
with banking instincts should go into
the business: and these instincts win
require long and patient experience un-
III II becomes second nature FOR n man
TO handle and decide with Just discrlm-
nation the often perpleVnV questions
that are daily arising In banking"