This historic book may have numerous typos and missing text.
Purchasers can download a free scanned copy of the original book
(without typos) from the publisher. Not indexed. Not illustrated.
1906 edition. Excerpt: ...of the inner door, nor do those having
the combination of the inner door know the combination of the outer
door. Over these steel doors are drawn thin wooden shutters, lined
with thousands of electric wires, which connect with a central
detective station outside the Home Office. When the doors have been
closed and the shutters drawn, it is impossible to open or disturb
them without giving instant alarm. During the year 1904, the
Company received in interest on bonds the sum of $10,634,986.99.
Interest is usually due half yearly, the heaviest months being
January and July, in each of which about $1,700,000 comes in. The
next heaviest months are April and October, which yield about
$1,000,000 each. The smallest months bring in several hundred
thousand dollars each, over $500,000 being collected in February,
1905. In the case of registered bonds, interest is received in
checks, but the larger part of the Company's holdings is in coupon
bonds, from which interest coupons must be cut and deposited in
bank for collection. About 500,000 coupons are detached annually.
In order that the coupons may be deposited promptly, the work of
cutting and counting is done well in advance of the maturity of the
coupons. In the disposal of securities within the vaults, those
with coupons maturing in the same month are put together; hence,
when coupons are cut it is only necessary to have one cage open at
a time. A package of securities is taken out, usually by the
Assistant Treasurer and the Cashier, counted and compared with the
memorandum attached, before the work is begun. The coupons are cut
by four clerks and counted by two others. They are then placed in
packages, sealed and checked by an Officer of the Company, and
placed in the vault in the presence of...
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