The records of the collection clerk are now to be examined. They are found principally in the collection register and collection tickler.

The Collection Register contains a record of all commercial paper received by the bank for collection. Many banks keep two collection registers, one for city collections and one for collections payable out of town. The paper entered in the collection register is generally numbered consecutively. The foregoing model is self-explanatory. The column Indorser need not be filled out except when there is an indorser other than the owner of the paper. If any time paper is interest-bearing, the amount of the interest should be added to the face of the paper before it is recorded in the collection register.

Register

DATE OF DRAFT OR NOTE

TIME

WHEN DUE

FOR WHOM COLLECTED

AMOUNT

TO BE

COLLECTED

CK.

REMARKS

Feb.

9

2 mo.

April

9

Fields Milling Co.

1650

√

2

3 mo.

May

2

Charles J. Kennedy

2500

√

2

60 da.

April

3

E. V. Buckley & Son

10000

√

Jan.

29

3 mo.

29

Wyckoff, Seamans & Benedict

75

20

√

1G

4 mo.

May

16

F. E. Sherman

1150

22

√

21

4 mo.

21

Freeman, Austin & Co.

95

60

√

Feb.

2

GO da.

April

3

C E. Denison

1250

√

3

30 da.

March

5

D. E. Avery

9500

√

7

2 mo.

April

7

Alliance Bank, Springfield

215

90

√

Since no record is needed in the collection register at the maturity of paper, it will not be necessary for the student to enter the collection paper on hand in the collection register.

The Collection Tickler. As soon as paper is properly recorded in the collection register it is classified in the collection tickler under its date of maturity. The object of the collection tickler is to remind the bank clerks of the maturity of paper received for collection.

The following collection paper is now in the possession of the bank and is shown by the uncanceled records in the collection tickler. Record it in your collection tickler. (See page 95.)