This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 530.— A savings bank depositor signs a receipt in the usual form, but loses it in the street. The finder presents it at the bank where the account is kept and gets the money. Have they a right to charge it to the depositor's account ?
Answer.—We think not; the receipt is not an order on the bank to pay the money to the bearer, and is only a valid discharge if the money has been paid to the depositor or to someone authorized to receive the money on his behalf. If he wants the amount to be paid to another person, he should, beside furnishing the receipt, add an order to that effect.