The Tupelo journal., 1906-03-09
THE BANK ACCOUNT
EXPLANATION OF SOME OF
TRANSACTIONS INVOLVED.

EXPLANATION OF SOME OF
TRANSACTIONS INVOLVED.
ALI Women Should Understand the
Routine of a Bank-The Difference
Between National, State and Saw
ings Banks-How to Make a De-
posit-The Pass Book a Receipt for
Your Money-The Advantage Of
Having Two Accounts - Checks
Payable "To Order and "To
T. Bearer"
BY KATHERINE LOUISE SMITH.
Copyright, 1905. by Joseph B. Bowles.)
The Importance of a under
standing the routine Of a bank cannot
be overestimated. Most I'M are de-
positors, in which case they place and
draw funds, but in any event, few
women can go through life without
t%ransacting business through a bank,
in some manner or other.
In reality a bank is an institution
having a place Of business where de-
posts are received and paid out and
where money is loaned on security.
There are several kinds of banks, and
the main thing is to select a respon-
sible one. For instance, there are ma
tional banks, which are under the
supervision and subject to the lnspec-
ton of officers appointed by the nation
a. government; state banks, which are
0DornfoI rndor tho IaUc nf diffprpnt
states, and savings banks, which are
formed for the purpose of receiving
deposits of money and which pay the
deposition a small per cent. IL the
money is left a certain time.
The convenience OF keeping a bank
account is readily understood. A bank
is a convenient place through which to
pay bills, an encouragement to save
and an assurance against the loss OF
money by theft or fire. 1t is well to
deposit funds in a bank, as soon as re-
ceived, ana to draw checks against
them as needed. The oma who de-
cides to intrust her money to a banR
should seek a well established one,
She should state her object to the cash.
Ter, to whom she should introduce her.
self, by giving her name ana address,
and, if possible, credentials. Often the
cashier asks questions, as it is desir-
able to establish confidential relations,
The necessity for this is readily un.
derstood when one reflects that he
stands as custodian of other peoples
money. In some banks the deposition
must sign a card, giving her name
residence, occupation, name of parents
and other particulars. This card
should be signed with the signature
that the depositor intends to adopt fol
all banking purposes.
All business with a bank is supposed
to be confidential, and the banker has
no right to relat& the "DETAILS of a de
p~ositor's business. NThe adoption OF &
stated signature is of Importance, moi
alone because the teller in this way
becomes familiar with the handwrit
ing. but for the added reason that il
prevents confusion. TO sign a docu
ment one day Jane Raymond Evans
and another day Jane R.tEvans, and OF
still another ]. r. Evansa is enough tt
distract even the most f&rbearing in
dividual.
The preliminaries of Introduction
finished, the m is prepared tt
make her deposit, or, in other words
to leave the money or checks she ha:
with her. In some banks a woman:
department is maintained for 1he con.
v~enience of lady patrons, but Tin the
average bank men and women botf
transact business with the samA Off
Gals. In some small banks the money
can be handed direct to the receiving
teller, whose official capacity is desig,
mated over his window, but more care
full banks provide deposit slips, OF
printed forms, made out with spaced
wherein can be written the amouni
after the names of the various kinds
of money or paper deposited. 1t is 4
simple matter to make out n of thest
slips and to hand it to the receiving
teller, together with the money and
checks. The ~bookkeeper then enters
the amount deposited on his books un-
der the name of the depositor and the
slip is kept on file as additional evil
dence.
YES" says the woman who intends
to deposit, Il can understand all this,
but if l give my money to the bank,
what have l to show for it," A peril
nent question, for every person should
have some record of money deposited.
The bank recognizes this, and as soon
as the first deposit is made, the de-
positor is handed a pass book, in which
she is credited with the amount OF
money deposited. It is really her re-
ceipt from the bank for the money in.
trusted to them, and care should al.
ways be taken not to lose or misplace
it. AS a rule this book should be pre-
scented every time a deposit is made
or money is personally withdrawn, and
at least ono a month it should be left
at the bank to be written up" in
other words, compared with the entries
on their books. All deposits and with
drawals will appear on the pages OF
the book when it is returned. If it is
desirable for any reason not to wait
until the end of the month, the bank
will write up the book at any time
that it is requested SO to do.
Whenever, which is seldom, a mis-
take has been made, the attention OF
the bank should be called to it at once,
and it is open to correction either in
favor of the bank or depositor. When