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Updated: May 20, 2025
Most banks will not allow depositors to draw out less than a fixed sum, say $5.00. This saves trouble, and prevents thoughtless depositors from going to the bank every time they want a dollar. Before a depositor can draw a large sum from a savings bank he may be compelled, under the law, to give from one week to six weeks' notice of his intention.
After many years of arduous work and after great expenditures of money the banks have to admit sorrowfully that if a man wants to raise a check he can do it; and the detection, while, of course, inevitable when the paid check returns to the depositor, is not immediate enough to prevent the swindler from getting away with the money.
He was leaving the bank, in which he stood a minute before a friendless boy, not as a successful beggar, for this important man had disclaimed the idea, but absolutely as a customer! a depositor! a business man like the grown-up clients who were thronging the outer office, and before the eyes of the clerk who had pitied him!
Having looked about the circle of his small acquaintance in vain for a guide, he bethought him that there were probably books on etiquette. He entered a bookstore one day with the intention of asking for some work of the sort, but finding in the proprietor a well-known depositor of the bank, Charley bought a novel instead.
No one could save himself, except the few who, taking my often-urged advice and following my example, had entered the ark of ready money. Farmer and artisan and professional man and laborer owed merchant; merchant owed banker; banker owed depositor. No one could pay because no one could get what was due him or could realize upon his property.
It was known at one time that his balance in the Mechanics' Bank was greater than that of any other individual depositor upon the books, and it was told of him that he had once deposited in the bank a chest of foreign silver coin, the exchanged value of which, when translated into American currency, was upward of forty-two thousand dollars a prodigious sum of money in those days.
Here is a little story which gives the pleasant variety: "I have come in to borrow some money from you," said the bank president timidly, as he stood before one of his depositors, nervously twirling his hat in his hand. "Ah, yes," said the depositor, gazing at him severely. "But you don't expect to get it, do you?" "I had hoped to." "What collateral have you to offer?"
On the whole it is hard to see much good or harm to be achieved by changing the form of the Bank return. It might make the Bank's position look stronger, but it could not make it really stronger. Nor would it really impair the strength of the note-holder's position as against the depositor, because even now there is no essential difference.
But as soon as the broker was satisfied beyond a peradventure that the depositor was actually dead, he hastened back to New York, joyful as a crow over a newly-found carcass, to administer upon the estate, leaving the law to take its own course with regard to the murderer. Beyond the two facts just mentioned as implicating Carl, nothing was proved at the trial.
Stener was a depositor with him to the extent of nearly five hundred thousand dollars. The State, through its State treasurer, Van Nostrand, carried two hundred thousand dollars on his books. Bode was speculating in street-railway stocks to the extent of fifty thousand dollars. Relihan to the same amount. A small army of politicians and political hangers-on were on his books for various sums.
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