THE BANKERS' MAGAZINE, 73644 JOURNAL OF THE MONEY MARKET, AND Commercial Digest. VOL. XXXVI. JANUARY TO DECEMBER, 1876. LONDON: WATERLOW AND SONS LIMITED AND ALL BOOKSELLERS. MDCCCLXXVI. THE BANKERS' MAGAZINE AND Journal of the Money Market. JANUARY, 1876. SUGGESTIONS ON DETAILS IN BANKING BUSINESS. WE referred last month, and at some length, to suggestions as to improvements which might possibly be made in some details of management in banking business. We propose to continue the subject on the present occasion, and to bring before the attention of our readers other suggestions which appear to us to possess some practical value. an eye The first refers to the labour, risk and responsibility entailed on bankers by the enormous mass of bonds which they are now expected to keep for safe custody for their customers, to cut off the coupons and to look after them generally. Some persons expect their bankers to do this and more. In the case of bonds repayable by drawings, they expect that their bankers will have to the lists of bonds drawn which appear from time to time in the newspapers, or in a more convenient form, in the Bond Holders' Register, and look to them to compare these lists with the bonds they hold, on behalf of their customers, to see any of their bonds are drawn. If any of the customers' bonds are in the list to be paid in this manner, it is sometimes expected by the customers that the bankers will forward the bonds for payment at maturity, and then advise the customers of the fact. if This is a matter of great convenience to the owners of the bonds. They are spared considerable trouble and risk. They are spared the necessity of continual watchfulness, of hunting up information which many of them might find it not easy to acquire. But this saving of exertion to them casts considerable trouble and risk, and further, considerable responsibility on the bankers. We propose to go into some details on these points. In VOL. XXXVI, 1 |