The note teller receives the letters and the money for all promissory notes liquidated at the bank. In small banks his duties may be blended with those of the receiving teller. And again the duties of both may be performed by the paying teller. In other words, one person may perform the duties assigned in a larger bank to the three beside several assistants.

There are two kinds of notes. Those which are discounted by the bank, and those which are deposited by the owners for collection, and for which they are to receive credit when they are paid The former are called bills discounted, and the latter collection notes.

In large banks at the present day the note teller does not have charge of the notes until the morning of the day of maturity. The bills discounted are handed to him early on the morning of the day of their maturity by the discount clerk. They are usually strapped together, and the total amount of the notes is stated in pencil on the strap. When collected, this total amount is credited to "bills discounted" in the general ledger. Should any of these notes not be paid, of course the amount to be credited to "Bills Discounted " will be just so much diminished.

The collection clerk each morning hands to the note teller the notes he has maturing, and with a ticket for each note, or with a ticket for each owner of notes.

When the notes are entered they are arranged by the note teller in the order of the names of the payers. The note teller is now prepared to receive payment of the notes whenever debtors appear. The notes payable at the bank are retained by the teller in his drawer, and those payable at other points in the city are sent out by messengers for presentation.

The note teller reaches the bank in time to make the entries of remittances by the morning's mail before the institution is opened to the public. The following is the usual form of letter received nowadays, with abbreviations:

Delaware River Bank,

Philadelphia, June, 30, 1884. H. Morse, Esq., Cashier.

Dear Sir:

Enclosed find for our credit:

Peters, Cashier....................on Com..................  $9,400 00

Ruffin, » .................... " Am...................   10,00000

Luther, * .................... » Am. Ex..............     1,57560

Simpson, * .................... " Met...................   14,26370

Corse & Co.......................Third Nat................     1,80000

Kerr...............................Phx.........,............     2,740 00

$39,779 30

We add for collection:

Brown......on Thompson............ 3 ds..................  $ 1,250 00

Green......Burr & Co...............10 ds..................     3,263 20

Wilson..............................July 10.................     2,249 75

White...............................90 ds..................        242 90

Kent........Albany..................July 25.................        506 00

Mother......Buffalo..................Aug. 3.................     1,000 00

Gray & Co.Hartford................sight..................     2,600 00

Roberts.....Port.....................10 ds..................     1,050 00

Yours truly,

J. Jones, Cashier.

To explain them fully, these items for credit mean checks as follows :

J. Peters, Cashier, Sussex Bank of Milford, on N. Bk. of Commerce, N. Y. $9,400 00

T. Ruffin, Cashier, Bank of Fullerton, on Bank of America............. 10,000 00

Corse & Co., Richmond, Tenn., on Third National..................... 1,80000

And so on.

The collection items are drafts or notes, thus:

A. Brown & Co., draft on Thompson Bros, at 3 days' sight............$1,250 00

P. Green & Sons on Burr & Co., 10 days' sight......................... 3,263 20

Wilson & Co., note due July 10......................................... 2,249 75

Kent Bros. (payable at Albany) July 25................................. 506 00

Draft on Gray & Co., Hartford, sight.................................. 2,600 00