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slips minus the checks received and the money already given to the paying teller must equal the money in the teller's possession. If any checks or drafts which have been received for deposit are not paid the receiving teller returns them to the depositor.

194. The savings teller. The savings teller receives all savings deposits, deposits on club and Christmas savings accounts, all government deposits, and when his work is slack he receives general deposits. He disburses cash to savings customers and balances the savings pass books.

The savings bookkeeper posts the debits and credits to the savings accounts, assists the paying teller in accounting for treasury savings certificates, and files the credit reports of the bank.

195. The paying tellers. The paying teller pays out money to all who properly request it. The receiving teller has opportunity to correct most of the mistakes that he may make, but a paying teller in most cases must be accurate at first or never. His task is far more difficult because he might pay too much; he might pay it to the wrong person, or the check presented might be no good, raised, stopped, post-dated, or an overdraft. He has charge of the signature cards and all authorities which depositors give for others to draw on their accounts. He keeps record of stop payment orders. He prepares pay rolls, receives and makes shipments of money, and makes shipments of mutilated currency and specie to the Federal reserve bank. He takes over and verifies the money taken in by receiving tellers and other departments of the bank. He draws on the bank's account with the Federal reserve bank. He certifies checks. He is the custodian of all cash of the bank and keeps a daily inventory showing denominations of currency, specie and fractional coins, and all changes of the amount kept in the vault. He sets the time locks on the

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vaults of the bank. He makes lists of all the checks and other items he has paid as he delivers them to the bank auditor. He maintains a daily proof. The cash he had the day before minus the items he has paid plus what he has received must equal what he now has on hand. He returns to the indorsers thereof the unpaid checks and drafts which he has previously honored.

Semi-annually he calculates the interest on and prepares the report of government deposits. He prepares monthly the statement of the postal savings fund account. He accounts for and has charge of all redeemed U. S. treasury certificates.

The work of the paying teller is divided among the head teller and two others.

In some banks each teller both receives and pays. In some banks the customers are divided alphabetically, one teller serving those whose names begin with the letters A to G, another G to M, and so on. This has the merit of letting a teller become better acquainted with each account and with each customer that he serves.

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196. The transit manager. - Checks received for deposit which are drawn on out-of-town banks must be collected. The department that receives the checks from the tellers and handles them is called the transit department. The checks are called transit items and the letters forwarding them to other banks for collection or payment are transit letters. A letter with a check which a bank sends, or receives in payment for a batch of checks to be collected, is a remittance letter. The transit manager who is also mail teller, checks in and verifies all remittance mail, assorts and lists all outgoing transit items, and maintains a daily proof sheet showing a balance for all outgoing items. He charges the cost of transit items to customers, and attends (by mail) to all unaccounted for or unpaid trainsit items.

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The assistant to the transit manager prepares duplicate slips for remittances by mail and verifies them. verifies the transit lists received from the tellers. assorts all transit checks and prepares the transit letters. The transit clerk checks off credit advices, folds and dates all transit letters, assorts checks, which have been received in the mail for the individual bookkeepers, prepares for mailing all items which are sent direct to noncorrespondent banks, and balances the account which has been charged with items sent to non-correspondent banks. He assorts and counts bond coupons. He sends out credit advices, files remittance letters, keeps record of all transit letters, and traces any which are not promptly received and acknowledged.

To facilitate the keeping of records as to items of transit, numbers rather than names are used. A transit letter shows the amount of the check, the bank on which it is drawn, and the indorser. To avoid naming the bank and giving its address, a system of transit numbers has been devised and this is universally used by American banks. Every bank prints its number alongside its name on its check-blanks. Every bank puts its number in its indorsement stamp. Transit clerks use these numbers instead of names and addresses. The numbers are formed as follows: the first forty-nine numbers are given to the largest cities, the second fifty numbers are assigned to the states. Numbers 59 and 89 are left blank. Every bank has a number in the city if it is one of the numbered cities, or a number in its state if it is located in an unnumbered city. The number "18" means the National City Bank of New York City, as "1" is New York City and "8" is the bank's number. The number "25-3" means the City National Bank of Columbus, Ohio; Columbus is แ 25" and "3" is the bank's number. The number "88-18" means the American National Bank of Austin,

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Texas; Texas is 88" and 18" is the bank's number within the state.

On many checks there is also a number printed sometimes with hollow faced type. This number is the number of the Federal reserve bank in whose district the bank is located. These numbers are 1 to 12.

Many banks assign a number to each principal depositor and ask them to put it on their indorsement stamps.

197. The exchange and collection teller. — This clerk prepares for the signature of an authorized officer foreign and domestic exchange, and travelers' and cashier's checks. He sends out a collector with the items to be collected and verifies the returns which he receives. He has direct supervision over all collection items, including notes, bonds, warrants, and drafts. He lists his items as he turns them over to the auditor, and maintains a daily proof of the accuracy of his work.

198. The bond clerk. The bond clerk receives securities for safe-keeping, keeps a record of all items deposited, and attends to the conversion or exchange of securities.

199. The custodian of the safe deposit vault. The custodian rents safe deposit boxes and storage space, collects rentals, admits patrons to the vault, and keeps the records of the department.

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200. The auditor. The auditor has charge of the interior proving department. He receives the list of items. and the items from all departments of the bank and verifies them. He assorts all items according to the department of the bank to which they are to go and makes entries for them upon general proof sheets. He checks each department against every other department and sees that the entire bank is in balance. He has charge of the balancing of all outgoing and incoming clearing house items. He makes charges to the last indorsers thereof of all transit items returned unpaid.

The assistant to the auditor assists the auditor and performs his duties in his absence. He records and returns to the bank indorsing, all unpaid checks received from the clearing house.

201. The bookkeepers. -The general bookkeeper has charge of all work on the general ledger and the ledgers which contain the accounts of other banks. He prepares for the president a daily statement showing the reserves, assets, and liabilities. He reports daily to the second vicepresident the balances with city banks and the overdrafts of country banks.

The assistant to the general bookkeeper assorts all the items for the ledger, prepares all statements of account with inclosures for mailing, keeps the file of the debit and credit items for the general and bank ledgers, and cancels all bank drafts that have been paid. He prepares the statements desired by the bank examiner, and he gets ready for issue the national bank notes which come in page lots from the U. S. Treasurer.

There are six individual bookkeepers. They post the deposits and checks of customers, and keep the total of the accounts reconciled with the totals that appear on the total daily balance of the bank. Each bookkeeper posts the deposits and checks of another bookkeeper to the customers' statement sheet, and thus checks that bookkeeper's work in posting the same items to the account sheet of the ledger. They cancel and file all checks received and at the close of each day take off a proof of their work. Each day an individual's old balance plus his deposit minus his checks must equal his new balance. Then the total of all individual deposit credit balances yesterday minus the overdrafts yesterday plus the deposits today minus the checks today plus the overdrafts today must equal the total of the credit balances of all individual accounts today.

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