The Oskaloosa herald., 1917-03-08


notify its customers promptly of the
or refusal of such items
The charge is extremely reasonable
for the service rendered
All notes intended for collection
should be left several days before
maturity.
In this department collecting of ac-
counts is often done by means of
drafts, either "at sight" or at speci-
fed time, the bank presenting such
claims in person or through its agents.
~ Forgery. se
A bank is bound to know the hand
writing of its customers and If it pays
a check upon forged signature it is
liable for the amount. The above rule
isnet extended beyond the signature,
and the fact that the amount and the
name of the payee are written in a
different handwriting from the sigma
ture is not a matter of suspicion.
A fraudulent alteration in the body
of check after signature constitutes
a forgery, as much as the stimulation
OF the signature itself, and the check
becomes void even If in the hands
of an innocent holder. Payment by
the bank is their loss unless 1t can
be shown that the negligence of the
maker laid the foundation of the
fraud. go
- Endorsements
Remember that no matter how
many others may have endorsed a
! check or draft before it comes into
your possession you should sign your
name also before presenting for pay
ment or deposit
An endorsement should be written
across the left end of check or draft,
never lengthwise or across the right
end. y.
If check or draft intended for you
hears the wrong initials, or your name
is spelled incorrectly, endorse first ex.
actly as the name is written in the
instrument, and beneath that, place
another endorsement spelling your
name correctly. Further, a draft or
check, payable to firm or corporation
should bear the name and authority
of the person endorsing.
| Oskaloosa Traction & Light Co.
BY John Doe, Sec'y.
! For all ordinary purposes the follow.
ing is the correct form OF endorsement
where A. w. Jones wishes to transfer
/ the paper to John Smith.
Pay to the order Of
| - John Smith
I ''5 A. W. Jones.
Do Not Be Offended III
/ if bank is particular about requiring
that you be properly identified, If you
are unknown to the bank, for by SO
doing they are protecting their de-
positors interests against unscrupul
Gus an irresponsible strangers You
would not care to intrust your money
to bank that paid all checks without
question. u &A'st '.'...
For further information ask your
banker. ,&"@
Do You Travel. |
BY using travellers cheques and
letters of credit one does away with
the need of personal introduction, for
each cheque carries it's own identi
! fication. They are the safest, most
available. most convenient and most
economical way of carrying funds
while travelling. 2.-.+~'
On a buying trip always carry a
letter of credit. 1t can be had of your
banked and gives you an Immediate
standing with those you are dealing
with.
I Ask you banker for further informa
! ton. -|'
Lost Checks.
If check you have issued be lost
; you may issue another, marking ii
I Duplicate, preferably in red ink but
before so doing be sure to notify your
banker, that he may protect you by
refusing payment. of the original
should it be found and presented by
the wrong person. Do not endorse a
check or draft until ready to present
same for payment or deposit.
Dishonored Paper
/ is protested because the law requires
it,, the object being to notify at the
earliest possible moment persons who
Eare in any way liable upon the same,
in order that they may protect them
selves il possible.
Should a bank fail to protest an
Item held for collection when SO in.
structed by the owner, they would re.
lease all endorsers and themselves
become liable.
| Under these conditions bank can.
not justly be criticised for not assum'
ing liability in matter in which they
have no interess except as a collecting
agent.
Paid In Full.
Mrs. Minnie Wentworth, No. 315
NORTH I rk,aot fbrouUh bot- Of