Coeur d'Alene evening press. (Coeur d'Alene, Idaho) 1907-1929, 1909-11-04
THE CLEARING HOUSE
Methods Of the Big Bank Ex.
change In New York City.
MARCH OF THE MESSENGERS.

lars In Checks Change Holders In Z
Few Minutes In the Daily Balancing
Of Accounts Between Banks.
Clearing That word Ia the order
for the shufilng Of many feet and the
pattering OF thick envelopes upon hard
wood Men with leather bags hung
against their chests like bass drums
pass up and down rows Of desks at
which other men SIT and as they go by
deftly hand out brown paper packages
containing the equivalent Of millions IN
gold. Thus do the banks Of New York
transfer money each business day
A. vast a. the figures involved In the
operation are. they do not make an
impress upon the mind. One Is more
apt to wonder whether the gray haired
messenger in the blue serge suit would
succeed in dlsorganizlng the line II he
gave the wrong envelope 10 bank No.
20 and, n 50. whether he would he con
demned forever by his associates. But
no one seems 70 make q mistake. and
the visitor has no reason 10 worry
about the possibility OF mIspIaclng SOS.
100000 even for half a second The
machinery o. the clearing house Il al
most too perfect 70 slip cog.
The clearing house begins to show
signs 81 activity as early as $3.50 o'clock.
when the vanguard Of bank runners
makes it's appearances, They travel in
pairs and are mostly young men. a..
though the veterans have not all Fe-
tired. Their badge Of ONCE Is bag
amy sort OF bag. suit case. telescope.
Mt bag, canvas bag. Sometimes II has
the name Of the bank II came from
printed across the end. More often II
bears no distinguishing mark.
Further. It's identity Is frequently
hidden behind en- exceedingly shabby
exterior. That II perhaps a virtue. Al
an events. II n not considered good
form IN banking circles 10 be Ostenta
tloua. A strong bag even though It be
old and ehafed il Just as good vehicle
for 4 fortune as new one and Il less
lIkely to produce buFniuRa Ia the heart
Of a thing, So this h the reason why
the young men who sweep up the mar
BILE stairs look as II they were carrying
bags filled with their own clothing in-
stead o. other persons checks. Self
conscious they are not despite the loads
they carry, and one might well imagine
they wore going upstairs 20 change
their garments for gymnasium suits,
But when the visitor reaches the door
above aud climbs to the little gallery
at one end he realizes that not basket
ball but another game. II 10 be played.
Already the players arr preparing to
take their positions At the side walls
are benches on which delivery clerks
are sitting their bags al their sides,
and opposite Il a solid counter divided
into about seventeen compartments. 10
the front OF which are affixed, Il occu-
pied the name plates OF different
banks Beyond the aFat Is second
counter ana between the two a'raek for
hats and oyereoata A broad aisle with
more benches aud hatracka separates
the two rows Of counters from dupli.
Gates on the opposite side OF the room.
settling clerks. who take their places
on high stools behind the outer rows
II counters. face the wallis. Those at
the inner counters face the center aisle.
AZ the elbows OF the nettllmg clerks
stand their assistants. who are ro-
quircd TO sign the exchange slips pre-
scented with each package OF Checks,
As the clock nears 40 one glancea
from the high dome. with It's row Of
electric lights, to the scene below, The
clerks AZ the compartments have made
themselves comfortable The messen-
gers standing at ease before them
have slung their bags and are ready,
a minute passes. A man appears az
the rostrum In the gallery aud rings q
gong twice Eyes below are upllfted
aa be makes an announcement about
out OF town banks that win hereafter
clear through different correspondents.
That 10 not OF particular interest. but
he pauses briefly aud then uttera the
magic word. ''Clearingr'
The messenger Tor hank No. crosses
the room At one end OF the counters
and takea the place Of No OF, who has
moved down pace. simultaneously
ATTY other men have taken step for.
ward, and the tramplng aud seraping
OF feet come regularly, No has
slapped an envelope down befogc the
clerk az No OTIS compartment. dropped
a ticket into a siot. offered an exchange
alp TOR signing and passed on 10 No.
% without utterinR a word Each OF
No IL afty associates has duplicated
his performance IN aveTy detail. aud
% the exchanges. g. they are called,
have been fairly started.
II the meantime the settling clerks
are dotng their share o. the work.
Long sheets o. paper h front Of them
ere being alled out with the total
amounts % the checks presented By
the men who are elFeling about the
eountera. making monotonons but not
unpleasant sounds with their feet.
suddenly, when you are just beginning
20 understand what Il h all about.
halt b called. No one says anything.
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