This section is from the book "Elementary Banking", by John Franklin Ebersole. Also available from Amazon: Elementary Banking.
This is a duplicate of the ledger account prepared daily and completed on the last day of the month, or at some other regular time as may be determined by arrangement with the depositor. The depositor is expected to call for this shortly thereafter. If he does not do so it may be mailed to him. It lists the amounts deposited and the checks drawn by the depositor which the bank has paid during the month, and then shows how much of a balance the depositor has - that is, for how much he may still draw on the bank. Bankers usually require the depositor to acknowledge, by his signature, that he has received the statement, and there is also usually a stipulation that if it is not objected to within a certain number of days the account will be considered correct. Most banks use the monthly statement of account. With other banks the customer must present his pass book to be "written up," showing checks paid and balance forwarded. It is often necessary under this system to notify and urge customers to bring in their books.
The Institute National Bank of New York
Temporary receipt for deposit, issued pending entry in Pass Book.
Depositors will please compare above amounts with entries in statement when rendered.
Institute National Bank
______________________Has Deposited $_______________________TO
The Credit Of __________________________