The Forest Republican. [volume] (Tionesta, Pa.) 1869-1952, 1906-07-18
ODD BANKING ERRORS
REMEDlAeLE MISTAKES AND SOME
THAT WENT UNRECTlFlED.


and the sum Written Out In Full
Are For Different Amounts.
\ well known customer OF bank
tcrped to the desk and wrote check
talking meanwhile with the teller, with
whom he was on intimate terms. When
he had finished he threw over the
check, ana the teller counted him out
$1,000, When the check passed to the
bookkceper he discovered 1t was not
signed.
That was remediable mistake, but
the one that happened at the Girard
oank in Philadelphia did not have so
trinlng an ending. A customer asked
the teller TO balance his book. 1t was
found that he had Il credit for $500.
Il will draw that Give me sight ex.
change on London" he said.
When the bank balanced Its books II
was S31 900 short, the sum for which
the clerk had written the exchange and
which the cashier himself had signed.
Meantime the buyer of the exchange
had gone Oh II fishing trip and had for
warded the bill of exchange to his cor.
respondents in London, but until the
bank could locate their customer they
could not ascertain the whereabouts of
the missing draft All that could be
done was to notify their correspondents
in London not TO pay its face. The ex-
change was presented In London for
the full amount and protested. When
make fresh start in the transaction
that Strengthened it out, but the bank
sacrificed the services of clerk who
had previously been a valued en-
ployee.
Mistakes of this kind are not fire.
qucnt in financial institutions, but one
took place in the dcfunct Globe Ma
tional bank In Chicago that never did
get Strengthened out a customer drew
Il check for $1,000 and confidential
clerk was sent for the money. 1t was
an ovcrdraft of some S400, and the
paying teller demurrcd at paying 1t.
The clerk appealed TO the cashier. who
consented TO pay the full amount and
put his initials on the check There
was line of people at the teller's win
dow when the clerk returned. He
waited until the teller was relieved,
then wrote the check for $4,000 in
stead of $1,000, The cashiers initials
were a guarantee, and the check was
paid without question. The clerk had
been trusted employee In Il brokerage
house, but the sudden chance to get
large sum of money was too great a
temptation. The bank stood the loss.
The ease with which mistake can
be made is Illustrated by fraud In
jest that was played upon William NJ.
Singerly of Philadelphia. He was,
among other things, president of the
Chestnut Street National bank, and
among his particular friends were
Frank Moran, the old negro minstrel,
and Richard Lennon, u politician and
merchant, all Of them members of the
Benevolent and Protective Order of
Elks and full Of practical jokes. A
man up In Erie had issued a facsimile
of certified check as an advertise
ment. 1t was for $500, drawn upon
the Bank of Good VIII" and indorsed
by the cashier of the "National Bank |
of Good Fortune" 1t was stamped
and looked like bona fide commercial |
paper. One of them reached the hands |
Of Moran and Lennon, who strayed |
into the presidents office Just before
banking hours were over and asked
him TO cash it. Mr.. Singerly, with a
glance at the amount, appended his in |
itials and, calling clerk, directed him |
to bring him five 500 bills for the |
check. The clerk took 1t to the teller,
who counted out the money and re-
turned it to Singerly, who passed 1t to
Lennon. Moran invited the president !
to meet him at road house on Wis |
sahickon drive in two hours and went |
away. Next morning in making up
checks for the clearing house the |
''phony" one was detected and referred
to Mr.. Singerly, who simply said II
thought Frank was spending a lot Of |
money last night. He gave us q |
mighty good supper" But the lodge |
Of Elks had fun over that check at
many subsequent session.
1t not infrequently happens that a
man writing check enters one sum in |
figures and another sum in writing out |
In full. This is, Of course, mere mad |
vertence, and If the check reaches the
bank on which 1t is drawn the lesser
amount is the one that is paid.
The other day grocer in New York |
cashed such check for customer for
500, the amount that was written out
and the amount the customer asked
for, but the figures were for So. The
grocer took only cursory glance at
the paper and the next day sent II |
with other checks to his bank, where |
It was accepted for So. In n like way |
Of carelessness persons often forget to
Gate their checks. Usually the bank
will supply the date on small checks
on current account, but on important
sums they will be thrown out
Paymaster f. n. Whtehouse of the
navy. attached to the European squad
ron, once drew Mt Plymouth for $780,
300 ON j. S. Morgan & Co., London,
and presented the draft TO the Plym-
Duth branch of the Bank of England.
The money was TO be used by the crew
Of the cruiser Boston, who were to
have shore leave at Plymouth. 1t was
by the commander of the ship
and the United States consul at Plym-