This section is from the book "Canadian Banking Practice", by John T. P. Knight.
Question 600. - The manager and accountant of a bank hand to another bank in the same city a sealed package represented to contain duplicate keys and combinations of all the locks in the office, with the request that they be held in safekeeping, and delivered only on the joint order of officials acting as manager and accountant respectively, who may be in charge at any time. In case of the absence or incapacity of manager or accountant or both, would the custodian be justified in delivering the package to other officials who might for the purpose claim to be acting? If so, would not either of the applicants be greatly assisted in obtaining fraudulent possession of keys or combinations?
Answer. - We think that the bank holding the package would only be justified in delivering the same strictly within the terms of the conditions on which it was lodged - that is "on the joint order of the officers acting as manager and accountant who may be in charge at any time." As to who should be considered to be acting in these capacities is a question of fact depending altogether on the circumstances of the particular case, and it would be impossible to express an opinion without knowing all the circumstances. If the officials claiming the package are, as a matter of fact, acting as manager and accountant, and in charge at the time, they are entitled to the parcel; if not, they are not entitled to it Banking Practice - Checking Teller's Cash.
Question 601. - Is it the proper practice for a branch manager to count the teller's cash for the day before it has been made up and listed in the cash book by the teller? Can the teller properly refuse to continue to handle the cash if the manager takes possession of it before the same has made up and listed?
Answer. - To count the teller's cash before it is made up and listed by him is an effective check and a perfectly proper practice but the examination should be carried out in the presence and under the actual observation of the teller himself. He could properly refuse to be responsible for the cash if the taking possession of it by the manager means that it is taken out of his hands and from under his continuous observation.