97. Sight Drafts

Sight drafts should be presented for acceptance to the drawee promptly. Figure 65 on page 145 shows a sight draft with the acceptance written across the face. If the teller is not familiar with the person or firm, on whom the draft is drawn, he should have the accepted draft certified by the bank when the item is payable after acceptance, as shown in Figure 66 on page 145. This should be done in all cases where advice of payment is requested by the customer, by wire.

98. Time Drafts

Figure 67. On Page 146 Shows A Time Draft Drawn For Thirty Days After Sight. Figure 68

$300.00.... ........Chicago, 111., July 7th, 1909....

........Thirty days after sight................................................................Pay to the order of............R. W. Gorham..............................................................................

........Three hundred..............................................................and No/100 Dollars

Value received and charge to the account of......................................................

To....Hines& Hitch............

No.....120 B'way, N. Y. City............ ....Harry D. Hall........

Figure 67. Time Draft.

Figure 68. Accepted Time Draft.

on page 146 shows this same draft accepted by the drawee, payable at the Delaware National Bank. It is now a note and must be filed away so that it will appear automatically for payment on the due date. The teller on that day will present it at the bank for certification.

99. Collateral Drafts

There are many kinds of collateral drafts sent to New York for collection. The teller should make it a rule never to surrender documents of any kind until the accompanying draft is paid, unless he has definite instructions to the contrary. The most important collateral draft is one accompanied by bills of lading covering goods shipped by the drawer to the drawee. Bills of lading are always drawn to the order of some one, usually the shipper. When attaching them to a draft, the shipper should endorse them in blank. If he made the mistake of endorsing the bills to the bank, the bank should endorse them "without recourse" or "as bankers only," or better still, return the bills for correct endorsement. Stocks and bonds are frequently sent with a draft for delivery to the drawee on payment.

100. Messengers

In a growing bank and one with a large staff of clerks, there is no better way of training young men for responsible positions than by having them act as messengers as their first duty. The messengers should be at the disposal of the note teller during the morning hours, after the exchanges have been sent to the clearing house. All local items that have been received in the morning mail and all received by the receiving teller on the day previous, should be sorted into routes and listed under the name of the payee. Each messenger should have a book and be responsible for the correct entering of his items. Before he leaves the bank these items should be listed by another messenger, so that any error may be detected. He should sign in the note tickler for any notes due which he can collect. If other departments have items to be sent out, they should hand them to the messengers, obtaining their receipt therefor and instructing the messenger to obtain a separate check.