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A TEXTBOOK FOR COLLEGES AND SCHOOLS

OF BUSINESS ADMINISTRATION

By

L. H. LANGSTON, M.S.

Of The National City Bank of New York

And

N. R. WHITNEY, PH.D.

Professor of Finance, College of Engineering and Commerce,
University of Cincinnati

P

NEW YORK

THE RONALD PRESS COMPANY

1921

TO VINU

Copyright, 1921, by

THE RONALD PRESS COMPANY

All Rights Reserved

L3

PREFACE

The purpose of this book is to furnish a textbook dealing with banking technique, organized from the standpoint of functions rather than of bank departments. This arrangement has been followed to enable the student to get the administrative point of view together with an understanding of practical banking operations. He can do this from the standpoint of functions where he would find it almost impossible to think clearly in terms of department organization and details of operation regarding which he really has no conceptual background.

Such an arrangement fits the book both to the pedagogical requirements of the teacher and to the background of information which the student really possesses.

The basis of the present volume is found in "Practical Bank Operation," prepared under the direction of the National City Bank of New York by Mr. L. H. Langston, and published by the Ronald Press Company. It represents, in fact, a reworking of the material there given descriptive of actual banking technique, with the purpose of suiting it to class use as a text. The aim of the authors has been to enable students to make full use of this unique cross-section of a great city bank of today, by indicating for him the typical features of bank procedure as they present themselves in a working organization.

To render the technical detail more readily intelligible to the student, extensive changes have been made in the arrangement and form of presentation, and much new material of an explanatory nature has been introduced. For such changes and additions, of course, the National City Bank is in no degree responsible.

In the text as so worked out the authors have sought to explain the actual procedure in the handling of banking transactions, and

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