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will be $716.66+ $216.66 +$1,150.83 +$1,832.17+ $525= $4,441.32, and the exact expenditures will be $67.50 + $54+ $100 + $100 + $110 +$176.19 + $41.67 + $232.15 = $881.51. If, disregarding the regular rule, the check of George Henderson for $250 ground-rent (deposited on page 48) has been given to Wright & Sons for the payment of the bill (which was properly paid by check No. 9), and the change or difference had been received in cash, neither of these items would appear in the check-book, and the book, as an account-book and record, would be sadly deficient.

All memoranda in check-books should be made as explicit and comprehensive as possible, using abbreviations whenever they will be necessary for the purpose of saving space, and without danger of misunderstanding. Addresses, dates, rates of interest, times of expiration of insurance policies and mortgages, and details of transactions in business, are all valuable data which a properly kept check-book will contain.

Let us now suppose that the owner of a check-book shall purchase a house under the following circumstances: The price of the house is $9,000; there is a mortgage upon the house for $4,000, with six months' interest unpaid, which incumbrance the purchaser desires to discharge (and may because the mortgage is due); the lawyer's bill for examining the title is $125. Upon closing the title the purchaser must give three checks, the first (No. 165) to the mortgagee for the amount of the mortgage and interest, the second (No. 166) for the balance, which will be due the vendor, after deducting the amount of the mortgage and interest, and the third (No. 167) to the lawyer in payment of his bill. The stubs corresponding to these checks will give a complete record of the entire transaction if they shall be filled up in the manner which is indicated on page 53.

Memoranda upon stubs referring to other checks or deposits will often be useful as completing the records of transactions, or as indicating the courses of portions of principals through various investments. The preceding examples will illustrate the first of these objects, while the second will be

(Certified. Principal.)

No. 165.

New York, July 10, 1894.

Mary J. Doe. Endorsed to John W. Taylor (Taylortown,
Pa.) for mortgage $4,000, and interest, 6 mos. to date

5% = $100, on house No. 949 W. 95th St., N. Y. City,
purchased of Jane K. Smith (949 W. 98th St., N. Y.).
See checks 166, 167.

No. 166.

(Certified. Principal.)

New York, July 10, 1894.

Jane K. Smith. Balance of purchase price of house, 949

W. 95th St., N. Y. City ($9,000 - $4,100 = $4,900).

See checks 165, 167.

No. 167.

(Principal.)

New York, July 10, 1894.

William Blackstone (18 Narrow St., N. Y.). Bill for

examining title to above premises. Total cost of

house $4,100 + $4,900 + $125 = $9,125. See checks

165, 166.

4, 100

4,900

125

understood after an examination of pages 44 and 47, or more clearly by means of the following illustration :

Suppose that, on June 15th, a house and lot shall have been sold by the depositor, and the check for the purchase price, five thousand dollars, deposited in the bank; that on June 20th the depositor, not having anticipated a quick investment, shall have drawn the money from the bank (by check No. 250), and shall have deposited it in a trust company; that in December a good investment in bond and mortgage shall have been found, and the money, on December 15th, taken from the trust company and again deposited in the bank; and that on December 30th, the five thousand dollars shall have been paid to the mortgageor by check No. 349. There should be, in this case, four memoranda in the checkbook, extending over a period of six months and relating to this particular sum of five thousand dollars: (1) The deposit of June 15th; (2) the stub of check No. 250; (3) the deposit of December 15th; and (4) the stub of check No. 349. By a proper reference upon these memoranda from one to the other, the entire journey of the five thousand dollars in question and its present resting-place will be clearly indicated.

All checks which are received should be at once deposited - on the day of receiving them (or at least on the next), if at all practicable-for, if the final payment of a check shall be unreasonably delayed, and the bank upon which it is drawn shall fail in the meantime, the loss ordinarily will fall upon the holder, whose negligence will have been the principal cause of the non-payment.

Sometimes, because of the inconvenience of remembering the numbers of blank checks, which are carried about on the person, the numbering of the checks is entirely dispensed with. Such a practice is by no means to be recommended. The careful and regular numbering of all checks will prove to be useful for purposes of reference and identification, and for the quick detection and possible prevention of forgeries. The first check which shall be drawn may be properly and honestly numbered 1, since no benefit will come from the practice (quite common, and certainly smacking of dishonesty)

of giving to the first check a large and businesslike number, such as 1000, 3000, or 5000.

A check-book, kept in the manner which has been indicated, will often prove to be valuable as a reminder of future obligations, expenditures, or collections. Thus a glance through the memoranda of checks and deposits which have been made during the previous year may inform the depositor that on a certain date interest must be paid or collected, that insurance policies will expire, and must be renewed at certain times, or that taxes will be due and payable at certain seasons of the year.

In a similar manner, past events of interest may be called to mind by looking over the pages of old, used-up checkbooks. How long has one lived in a certain house? When was such a building erected? For how many years has one ridden in a particular carriage?- these and many other equally interesting and important questions may be answered, and accurately answered, by the faithful and faithfully kept check-book.

At frequent intervals (if the account is very active: every month or six weeks, generally speaking, when each page of the book is nearly filled, and always when requested to do so by the bank) the bank-book must be left with the bookkeepers at the bank to be balanced. This the bookkeepers do by entering, upon the pages opposite to those which are used for the entry of deposits, the amounts of all the checks which have been drawn by the depositor since the last balancing of the bank-book (all of which checks have been, in the meantime, returned to the bank for final payment by the various holders or by their banks), and by writing in the book the balance, which is obtained in the usual manner. When, a few days afterward, the depositor calls at the bank for the balanced bank-book, the book (sometimes also a separate memorandum of the items of the checks and deposits) and all the checks which have been issued by the depositor since the last balance (which checks are now called vouchers, and are stamped "paid," or otherwise marked by cutting crosses through them to indicate that they have performed

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