La Junta tribune., 1908-07-18

every WUfIcs oHa "a tuefH ypA NSss
buy almost everything. even dry
goods. shoes. clothing. n veities. as
well as fruits and vegetables
| visited the National City Bank. !
the largest single bank IN the world.
and several other great banks. the !
United States Sub-Treasury and the !
clearing house. These large banks |
are divided into many Departments.
50 that the business is divided. and
there was not the crowd at any Of
them that We often see ~ our little I
banks of La Junta. The greater
part of their business is by mail.
They are very courteous. and If you
are banker. they are after your
business. You go to one place to
deposit money. To another TO draw
money. to another for exchange or
draft. the windows being divided
bv the letters. and to various de- I
partments for various kinds Of BUSH I,
ness. In some bsnks every loan is
passed upon by the directors. before
it is made. in others by q discount
while in few. loans are
made by a single officer In the
last case certain officers have charge
of the grain business. another Of
hardware. or cotton. railroad, GER
tain stocks. bonds. municipal securi-
ties. etc. etc 80 that he has but one
line Of loans to consider and is al
ways posted on the responsibility of
the borrower.
The United States Sub Treasury
at New York is the agency Of the
greatest transactions Of the govern
ment. 1t handles the customs. rev.
enues. sale of and payment of gov
ernment bonds. issue and redemp-
ton Of money, Disbursements Of
money. transfer and receipt Of gov
ernment money to and from the
banks and thousand more transac-
tions in the fiscal affairs Of the gov
ernment. 1t is large. ld-fashion-
ed stone building, with two large !
entrances into large central court |
on each side of which are the win
dows for the various kinds Of busi-
ness. There is nothing to be seen.
only the windows.
The clearing house is large room
with gallery at one end, each bank |
Of the clearing house, of which |
there are forty-nine. having a cage
behind q counter in four rows. In
front Of each cage stands the mes.
senger Of the bank. and at Ne tap Of |
the bell at 10 q. m. the linz takes
up its march until each man returns
to his cage. having distributed
from his grin or small trunk. the
items on each bank as he passed,
until on completing the circuit, he
takes all the packages left by all the
banks on his bank and returns to his |
own bank. A representative Of each
bank is in his cage. and must list,
foot, balance and prove all items
within fifteen minutes, and send the
result to the gallery where the
manager and his clerks foot and de-
clare the result. The transactions
amounted to s2ll 100000 and the
balance was but $25. 900. 600 to settle
all these transactions. There was
an error of two cents. This must |
be found by the bank which made il
before 10:45 or the bank is fined.
This error was detected barely in |
time to save the fine. The balances
are settled By clearing house certfi-
Gates in round sums, the odd amount
in coin or currency. in the banking |
below. These certifi-
Gates are the promise to pay Of the
house. For instance. on
this date. the National Bank Of Com
merce owed the other banks slight
" over $40. 900, 900. and the other
banks owed the National City Bank
almost $ll. 600. 600. This bank is
paid in clearing house certificates.
while the former must settle with
the clearing house-in clearing house
certificates if it has them, otherwise
in gold. 1t is q most wonderful
system. You will see that but little
actual money is used in the settle-
ment Of the great transactions. The