This section is from the "Practical Banking" book, by Albert S. Bolles.
He is a young man, and occupies the lowest position in the bank. He is simply a messenger to collect drafts and notes. Boys are hired who are eighteen to twenty years old, are paid a small salary, and are quickly trained to go around the city with notes and drafts for collection. Their instructions are simple and definite, They must not take anything beside a certified check or good money, unless instructed by the Note Teller to do otherwise. He has charge of the runners, who are promoted whenever vacancies occur. Many bank clerks and not a few cashiers and presidents began as runners.
In London a bank messenger or runner is called an out teller, or collecting clerk. His duties are quite the same, though his methods differ in some respects. When he starts out from the bank, on what is there termed his "walk," he leaves behind him a record of the route he is to travel, and of the collecting, notifying, and presenting he is to do, in a book called the Walk Book. In this way the bank is kept informed of the whereabouts of their absent messenger, a bit of information that must be highly appreciated. In our banks and offices the inquiry, "Where is that messenger?" has become as familiar as the question, "Where are the police?" The London collecting clerk, or out teller, invariably has his wallet strapped to his body with chain and belt, a practice which has in some cases been copied here, and ought to be here more widely in vogue. The drafts which he takes upon his route for presentation, for acceptance, are always left with the drawees, who have twenty-four hours in which to return them to the bank.
The porter is the janitor. His duty in some banks is to appear when the watchman leaves at six o'clock in the morning. He puts the bank in order, and stays until the clerks come, then takes all the books out of the vault and puts them in their proper places. It is now probably about half-past nine. At night, after the clerk go away, he puts the books back, locks the vault and stays in the bank until the watchman appears at eight o'clock. After the clerk are gone, the janitor, porter or watchman is always present.
In explanation let us refer to the form on page 111 (Depositors Daily Balance Book). The "balance" column for Monday, Sept. 15, is footed to show, opposite "net total deposits," $6,316.70. The figures in this column added together do not make this amount, but the balance credits added together, and the overdraft of $160, against the account of O. F. Berry, deducted therefrom, make the footing as-shown, which is proven by taking the
Balance for the preceding day............................ 5,873 05
Diminished by "total checks" of Sept. 15................ 3,067 35 2,805 70
This $6,316.70 does not show the full amount of deposits for which the bank is liable, but it shows the deposits less the overdrafts.
After footing the columns entitled "balance," "total checks," and "total deposits," as shown opposite the account entitled" net total deposits," and as explained above, the bookkeeper proceeds upon the same form to make up a general statement of the bank's condition.
The amounts in the first column of balances are supposed to have been brought forward from the preceding page. Under the column entitled "total checks," we find the amount $2,710, showing a disbursement of cash for two notes discounted, $710 and $2,000 respectively. This is placed in the column of "total checks," simply because it shows, as does the footing above it, a diminution of cash for the day. In the following column: "total deposits," and opposite the $2,710 is the amount $3,100. This also belongs to the account of "notes discounted," but represents a collection by the bank, which increased the cash and diminished the "notes discounted" account,, thus leaving to that account a balance of $43,810. Summarizing the transactions we have this statement:
Debit balance to notes discounted Sept. 13...............44,200 00
Two notes discounted Sept. 15, 710 and 2,000............ 2,710 00 46,910 00
Following the account of "notes discounted " is that of "discount :"
Credit balance from Sept. 13............................. 1,400 00
Received during the day, Sept. 15....................... 150 00
Total account at close of the day.................... 1,550 00
The item of $150 receipts was placed in the column of "total deposits " that it might be added, like the preceding amount, to the cash receipts, though it has no connection with the depositors' accounts.
The account of "profit and loss" has met with no change during the day, and it is simply transferred from one column to the other as. an uncharged asset or debit account. The account of expense has; been increased by the payment of a printing bill of $5. The amount is placed in the column of "total checks," because it represents a disbursement of cash. From $407 on the 13th the account appears in. the new balance as $412,