The Detroit times., 1911-01-09

"0iteu W W shiuuleIs Oh al cidSSco
and descriptions. Many OF these
tricks are concocted by men who for
merly were bankers and they are the
ones Tor which the banker must be
on the alert
II is said that the Postoffice De-
partment and the express companies
transfer billion dollars a year. and
yet they do not lose anywhere near
as much In proportion as the banks.
This is due partly TO the fact that as
soon as a money order Is issued the
office on which II is drawn is notlhed,
and II there is any reason TO be sus-
picious the paying Office is warned
The present Postmaster General has
decided to eliminate this advance al.
vice, but many bankers regarded IL "a
o, OF the best safeguards OF the sys.
tenn. and have urged banks to
adopt II.
Sometimes the swindlers OF banks
are men employed in the banks
Knowing all the ms and outs OF the
business they are able TO find the
weakest spots. One fellow not long
a. % took to the practice OF checking
on the dormant accounts-accounts
that have laid idle for a long period.
Another clerk, who was assistant re-
ceiving teller, held back money and
deposit slips, and thus was able 10
use a large sum OF money for long
time. Sometimes the bank clerk un.
Willingly lays the foundations that
afterward make him q defaulter Not
long ago the auditor OF a large bank
was checking up its accounts and dis
covered some PACKAGES OF bills con
tanning a note saying that the cash
Ter, the paying teller or the receiving
teller had borrowed dollar here and
there. for personal Use. He repri.
manded them severely, asserting that
the law requires all loans TO be Iass-
ed upon by the board. and these were
loans as much as II they had been
entered upon the formal minutes OF
the board OF directors.
II Is said that the ban OF Pittsburg
lost $7,500,000 In single year
through the dishonesty OF officials
a. employees. A sort of Bertillion
system Is to be tried, so that II clerk
or an official should go wrong, he
could be the more easily located. But
more than that, the kno Wedge OF the
fact that this precaution has been
for many young man who might 9th.
erwise be tempted to 8, wrong. One
cialV was recently presented with
SIS. 900 for his wise conduct OF the az.
fairs OF the bank with which he was
connected. and not long afterward IL
was found that he was an embezzler
on large scale.
In England II Is almost impossible
for an outsider to get his hands on
the checks Of any bank. The financial
institutions there are as careful to
prevent their bank checks from get
ting out Unfortunately as they are
/ to protect their money In the vaults.
The American custom OF allowing
blanks to lie around on counters acces-
sible TO everybody is unheard OF. 1t
is said that II Is much more diI1.ult
TO swindle bank 1 nEngland than in
America.
:. novel case has arisen recently in
volving the rights Of the students In
business colleges to give checks in
the course OF their make-believe bust
ness operations. A Baltimore school
uced the blanks of a local bank In
its operations. One OF these, calling
for the payment OF 500. was lost in
the course OF business in the school.
and months afterward turned up in
Oklahoma, where II cashed Be.
fore reaching the bank on which 1t
was drawn It had passed through a
half dozen other banks. Many bank
ers thing the law ought to prevent this
sort OF Stimulating business METHODS.
observation-disclosures Tax Amend.
mont.