Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1911-09-10
Uu,T YOUR BANK DOES FOR YOU
HOW IL Collects Your Money From
Your Debtors.

nv l. +. FERRIS In Leslie's Weekly
DID YOU ever wonder what became
of your deposit after you had thrust
Il through the receiving tellors win
dow and that alert young man had
entered the amount IN your pass
book?
probably you keep a bank account
most men and most women, too, do
that nowadays-and you know that
,ou can hand the receiving teller a
deposit consisting OF checks YOU have
received from other people, drafts,
money orders and what not and that
fl day or two after YOU can draw prac-
tically the whole amount out In cash
from the paying tellers window. But
did YOU ever stop TO consider how
the bank where you keep your ac-
count obtains the money for the slips
of paper that you have deposited so
that the paying teller can hand il 10
YOU in Uncle Sans familier green
and yellow backed bills that are good
anywhere?
All that you see is that the young
man at the window makes what ap-
pear to be cabalistic signs on the
margin of your deposit slip opposite
10 each check that you have listed
there and that he glances at the back
Of the checks 70 see that you have en-
dorsed each with your name; but OF
the handling of those checks there
after you see nothing, nor do you see
the machinery by which the actual
cash is returned to your bank in
place Of the checks in question.
You keep your account, perhaps in
the First National Bank, and the
items Of your deposit are, let us say,
a check for 500 on the Second Ma
tional Bank situated a. the other end
Of the city, perhaps ten miles away.
a check for $50 drawn on the Cen
trail Bank Of Streator H.; a postal
order payable at the post office for
$25, and an express money order from
San Francisco for $1O--a total Of s1s5
coming from four different sources
and to be paid by four different in
stitutions situated at four different
points.
Let us take the check for 500
which was given you by John Smith.
who keeps his account in the Second
National Bank, and see what be-
comes OF that.
AS the receiving teller checked of
the Items on your deposit slip, he
checked this item with a number. No.
81, that eing the number which the
Second National Bank bears in the
clearing house, where each institution
tg isrra "a -. l.
der Of that Institutions Joining the
Clearing House Association. Thus
Your deposit slip, if occasion should
arise necessltating its inspection
months afterward. will show that on
this day you deposited a check for
500 which was drawn upon the Sec
ond National Bank.
On the back of the check your bank
places as an Endorsement n rubber |
stamp impression of its own name
and the date, so that whenever the |
check is inspected afterward the H.
dorsements shaw that It passed from
your hands to those of your bank on |
this particular day. Then that check |
is sorted into ITS proper pigeonhole in |
rack that contains pigeonhoe for |
each bank In the Clearing House AS
sociation.
AT the end of the day the contents .
OF each pigeOnhole Is listed on slip |
bearing the name and number of the
clearing house bank upon which the
checks filling that pigeonhole were
drawn, and also the name and num-
Der Of your bank. The checks have
come in from your banks deposltors
IN all sorts of mixtures and assort-
ments; they have been resorted and
listed with reference )nly to the place
at which they are TO be paid. 1t will
Re evident that the total Of these in
diyidual slips, added to the amount OF
cash received gold silver, and green
backs), must equal the total Of the
customers deposits made that day,
and in this way the receiving teller
proves his days work.
The totals of these individual slips
are listed upon what is known as a
clearing house sheet-a long sheet of
paper containing a line for each mem
Der Of the clearing house That long
sheet being added up and the addition
proved John Smiths check which
you deposited, With all the other
checks which other people have de-
posted that day goes into the banks
vaults TO rest for the night.
That is, they go there to rest, pro-
Vided that the receiving teller's it.
ems balance and his work proves; If
1t does not prove, 1t is gone over un-
III II does-a process with which you
as depositor are happily unconnect-
ed With the thousands Of checks
that come in during the course of
day( in some Of the larger banks dur
ing the course Of n day (in some Of
the larger banks amounting to from
ifteen to twenty thousand In numher)
although the receiving telers window
closes at o'clock, he and his assist
ants do not finish their work until
several hours later, an dthere have
Deen instances where the balance was
not struck until the small hours Of
the morning and the tired clerks slept
IN chairs afterward as best thev could
80 az 10 be on hand at the opening of
the banks doors as usuai
The next morning Jnhn Smiths
check and all the others aro tokan Ia
the clearing hotlao bv ,bo ho,L,, ,,oa ,