Improvements in Deposit Certincates.
Year: 1896

page_text: Date of Application, 25th Feb., 1896-Accepted, 25th Apr., 1896
Improvements in Deposit Certincates.
communication from abroad by CHARLES W. WALTERS and WILLIAM LINN
WALTERS, Gentlemen, both of Denver, Colorado, United States of America.
I, JAMES GRIEVE LORRAIN, M.I.E.E., M.I. Mech. E., of Norfolk House, Norfolk
Street, Strand, London, W.C., in the County of Middlesex, Chartered Patent Agent,
lo hereby declare the nature of this invention, as communicated to me from abroad,
nd in what manner the same is to be performed, to be particularly described and
scertained in and by the following statement :-
The nature of the improvement will be clearly understood from its embodiment
as designed for use by express or other companies in transacting a financial or
banking business. For such application of the invention it consists of a financial
instrument or certificate of deposit in duplicate having two alternative receipts
upon the back of one of the said duplicates,-the instrument and the receipts
being so worded that they may have the following functions and effect: For the
purposes of this Specification the duplicate certificates will be distinguished from
each other as the "deposit certificate" and the "depositor's coupon certificate."
The deposit certificate is retained by the agent or cashier of the company or
bankers issuing it, and the depositor's coupon certificate is retained by the depositor.
This latter certificate has upon its back two blank forms of receipt-one of which
may signify that the depositor has received in full the total amount of the deposit
for which the certificate was issued, and that the deposit certificate and depositor's
coupon certificate are cancelled and marked paid on their face, and therefore there-
after null and void; and the other may signify that the depositor has received the
amount of money called for by the depositor's coupon certificate, without mention
of the deposit certificate. The function of the latter of these receipts is to permit
the depositor to collect the amount through any bank, incorporated express, or
other financial company. The signature of the depositor is witnessed, and the
endorsement of the bank or express company which collects the sum makes such
company responsible in case of forgery or frand, to the company that originally
issued the certificates. On the other hand, the function of the first named receipt,
which in effect cancels both the deposit certificate and the depositor's certificate,
is to enable the depositor to draw his money from any telegraph or other office of
the company that issues the certificate. The signature of the depositor to such
receipt, release, and cancellation, relieves the company from all further responsibility.
To guard against forgery of the signature in this instance, however, identification
is required and the blank contains words to the effect that the personality and
signature of the depositor has been identified by a subscribing witness.
The two receipt blanks upon the rear of one duplicate, are separable from each
other, and if, and when they are so separated the "depositor's coupon certificate"
or other financial instrument upon the face of the duplicate is necessarily thereby
divided and destroyed. By this capability, therefore, the separation (if desired) of
the receipt which has been signed by the depositor upon repayment of the deposit,
from the other unsigned receipt, for the purpose of filing or otherwise, will
destroy the duplicate instrument on which it is endorsed and prevent its misuse or
reissue, either by mistake or with intent to defraud the company.
The words of the original contract, in duplicate, as contained in the deposit
certificate and in the depositor's coupon certificate, may be to the effect that when
duly issued, signed, and countersigned, the company issuing the certificates accepts

page_text: In
for deposit and agrees to pay to the depositor named, the sum entered in writing
upon the face of the certificates, and that the sum may be collected or paid by
means of either of the two methods and the two receipts just described.
addition, the certificates contain, and are expressly issued upon, condition that
certain necessary details be complied with in collecting the money and in case of
loss of the depositor's coupon certificate. A separate clause, in blank, may be
added providing that the amount deposited is to be paid at a certain date and rate
of interest. The duplicate certificates are signed by the depositor and the
treasurer and are countersigned by the cashier, or agent, for the company.
One preferred form of the invention as so applied to banking operations is
illustrated in the accompanying drawings, though it must not be understood that
the invention is in any way limited to the precise wording employed, or that it has
anything whatever to do with the precise wording employed, though of course
largely dependent on the meaning of the various parts, but are in no way dependent
on the precise form of language.
In the drawings
Fig. 1, is a face view of the duplicate instrument, and
Fig. 2, is a view of the reverse or back showing the two endorsed blanks, and
the line of separation between them.
In the figures of the drawing like letters of reference indicate like parts.
The portion marked D is the deposit certificate and the portion marked C the
coupon or depositor's coupon certificate, in the English, French, or other language
desired. Upon the back of this depositor's coupon certificate C are found the
receipts marked V and R respectively. The former one, properly executed, after
identification constitutes a complete cancellation and surrender of both certificates
in favor of the company issuing them, and a receipt for payment in full. The
second one, filled out, merely constitutes a surrender of the depositor's coupon
certificate and a receipt and release in full for the total amount.
It is clear from the drawing that the line for separation of these two blanks
passes through the text upon the face of the member of the duplicate upon
which they are endorsed. Therefore if one of these blanks be filled out,
executed, cut off, and filed, the instrument upon which it was endorsed will,
(in addition to whatever effect the contents of the executed blank may have) be
divided and destroyed.
The wording upon the certificates being clearly legible in the drawing, we will
not set it forth at length in this Specification further than to call attention to the
following: The two certificates respectively contain the words "deposit certificate"
and "depositor's coupon certificate," which serve to distinguish them. Preferably.
also, the deposit certificate contains the words "agents and cashiers retain this
certificate," or other indications to that effect. In all other respects the two certificates
are upon their face identical. Certain details, such as indicating the number and
series of the certificate, or otherwise distinguishing various duplicate certificates
one from another but indicating that the duplicate certificates are duplicate
originals of a single contract, may be added as indicated in the drawing. A separate
sub-contract which, when executed, forms an inseparable condition of the contract
set forth in the certificate, may read as follows:
It is hereby agreed that this certificate is payable.... .........months from date
with...interest at ....per cent. per annum from date until maturity.
Interest is payable..... ...annually.
There may be a space for separate signature, or the signatures to the complete
contract may include this clause when filled out, it being proper in such case to
cancel the blanks in this clause when it is not filled out.
Having now particularly described and ascertained the nature of my invention
(as communicated to me from abroad), and in what manner the same is to be
performed, I declare that what I claim is :-
1. The deposit certificate, substantially as described, consisting of a blank

page_text: obligation in duplicate and two blanks endorsed upon one member thereof, the said
blanks being each complete in itself, substantially as set forth.
2. The deposit certificate, substantially as described, consisting of a blank
obligation in duplicate and separable, and two blanks endorsed upon one member of
the said duplicate, one of the said blanks being a complete and separable receipt
and release of the said instrument and the other of said blanks being a receipt;
the line of separation between the two members of the said duplicate being clear
of the said endorsed receipts and the line of separation between the said endorsed
receipts being through the text of one member of the duplicate whereby, when
said receipt and release has been separated and filed, the said text is cancelled and
destroyed.
1 1896
J. G. LORRAIN, Chartered Patent Agent,
Agent for the said C. W. and W. L. Walters.