Same as " Check."
See " Clearings."
One who examines into the affairs of, and has certain supervision over, the chartered banks in the State under which he is appointed. For example: the Governor of the Commonwealth of Massachusetts appoints a man whose duty it is, with his assistants, to see that all the savings banks and trust companies within the Commonwealth comply with the laws regulating them. This is largely done by making periodical examinations into the affairs of each institution. This board of commissioners is empowered to pass upon and decide many questions which may be referred to it by various banks and trust companies,1 such as whether a particular investment may be legally bought, etc.
See " Deposit."
In financial slang, to be backed with money by some one else. He " banked " Smith in the enterprise; that is, furnished the money.
A check drawn by one banker upon another.
"Exchange " (to which refer) on Great Britain as purchased at some bank or banking house, as distinguished from regular "bills of exchange" accompanied by bills of lading, as held by the sellers or exporters showing amount due them.
A day, other than Sunday, in Great Britain, upon which all negotiable paper may not be presented or paid; banks are closed. In England, for example, Easter Monday, Whit Monday, and others are " bank-holidays."
As defined by the Federal Reserve Act, an "acceptance " which "must be drawn by a purchaser or seller or other person, firm, company, or corporation directly connected with the importation or exportation of the goods involved in the transaction in which the acceptance originated, or by a banker."
Bank Money-orders. A form of " money-order " sold by banks in competition with the United States Postoffice and express companies. More than 1,000 banks have adopted this "money-order," and many have sold large quantities of them; and, although this plan was adopted but a little more than a year ago and has not permitted of a very long test, a number of decided advantages have been discovered in the issuance of such orders, aside from whatever profit there may be.2