Word: debits
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Dates: during 1960-1969
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...check with the depositor's code number must be put through an encoder where an operator inscribes it with its dollar amount before it is turned over to ERMA. From there on, a battery of machines do all the work. The machines sort and tabulate the checks, debit the accounts, print the statements when they are due, and put the checks in neat piles to be returned to the banks. ERMA also produces three daily records for the banks: a status report on the balance in each account, a journal of the most active accounts (noting large withdrawals that...