The records of the discount clerk are to be examined first. These records are found principally in the discount register and discount tickler.

The Discount Register contains a full record of all paper accepted for discount. It is the bill book of the bank and gives, in addition to the information ordinarily contained in a common bill book, the amount of discount and collection and exchange charged, the proceeds of the paper, etc. The illustration on pages 16 and 17 is self-explanatory. It shows a day's records, with the necessary check marks, etc.

No record is made in the discount register at the maturity of paper; therefore it will not be necessary for the student to enter the discounted paper on hand in the discount register. (See page 95.)

The Discount Tickler contains a classified record, with reference to maturity, of all the paper entered in the discount register. These records are made to "tickle," or remind, the discount clerk to have paper presented for payment at the proper time.

Discount

DATE DISCOUNTED

FOR WHOM DISCOUNTED

MAKER OR PAYER

INDORSER

WHERE PAYABLE

NUMBER

DATE OF PAPER

19 -

19 -

June

20

D. E. Avery

Wilson & Son

Alliance Nat'l, City

230

Apr.

20

20

Powers & Sprague

C. Reardon & Co.

Cook Bros.

Farmers Bank, Chicago

231

May

1

20

E. V. Buckley & Son

W. O. Kadcliffe

First Nat'l, Syracuse

232

Apr.

1

20

J. H. Crandall

Frey & Mason

Bates Bros.

Our Bank

233

15

20

Dodge Bros.

Rogers, Peet & Co.

Traders Nat'l, Phila.

234

June

15

As soon as paper is accepted for discount it is entered in the discount register, the due date is written across its face in red ink, and it is recorded in the discount tickler under the proper number and date. After these records have been completed the notes are carefully checked back from the tickler.

The tickler is generally ruled in sections for each day in the year. At the top of each section is printed the day and date. The Remarks column is used for noting irregularities in payment, etc.

Discount

Monday,

NO.

PAYER

WHERE PAYABLE

TO WHOM SENT

800

C W. Hall & Co.

Our Bank

821

Morton & Davis

First National Bank, Buffalo

Traders National, Buffalo

827

C. W. Carey

Allston & Co., Bankers, City

Tuesday,

782

Raymond Bros.

Union Trust Co., City

790

Stickney, Poor & Co.

National City Bank, Brooklyn

Chemical National Bank, NY.

765

F. E. Sherman

Our Bank

778

De Young Bros.

Citizens Bank, Troy

Farmers Bank, Albany

Paper to be entered in the Discount Tickler. - The following discounted paper is now in the possession of the bank and is shown by the uncanceled records in the discount tickler. Take your discount tickler and enter this paper, being guided by the accompanying model.

Register

TIME

WHEN DUE

TERM OF DISCOUNT

RATE OF DISCOUNT

AMOUNT OF PAPER

INTEREST

AND DISCOUNT

COLLECTION

AND EXCHANGE

PROCEEDS

TO BE CREDITED

TICKLER CK.

REMARKS

19 -

3 mo.

July

20

30 da.

6%

2000

10

1990

√

3 mo.

Aug.

1

42 da.

6%

1500

10

50

1

88

1487

62

√

90 da.

June

30

10 da.

6%

900

1

50

898

50

√

90 da.

July

14

24 da.

6%

6000

24

5976

√

30 da.

15

25 da.

6%

3000

12

50

3

75

2983

75

√

Issued Cashier's Ck.

√

13400

58

50

√

5

63

13335

87

Write dates in the discount tickler as follows: March 1, 2, 3, 4, 5, 6, 9, 11, 12, 16, 25, 26, 29, 31, and April 1.

Do not show any totals at this time, as the entries in the general debit and credit books will not be made until the general bookkeeper's work is given.

Note. - In this work all paper maturing on Sundays or legal holidays should be entered in the ticklers under the date of the first business day following. The statutes of the different states, however, are not uniform on this point.