Word: deposit
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...started in National Safety Bank & Trust Co., rose like spring sap to vice president. Whereupon he invented the CheckMaster Plan for handling checking accounts, a system which has been sufficiently imitated for him to refer to it, with fine Slavic enthusiasm, as "the only major development in deposit banking in the last quarter-century...
...Efron's new idea was really a resurrection of an idea as old as deposit banking itself. Most checking accounts nowadays require sizable minimum balances ($100 up) and banks make their money by loaning out these deposits. But the CheckMaster Plan requires a deposit of only $1, which Mr. Efron makes no effort to loan out. Instead, to cover expenses, he charges depositors a straight service fee-5? every time they make a deposit, 5? every time they draw a check. CheckMaster is thus the first U. S. example of 100% money banking-a principle advocated by Yale...
...from its main Manhattan office, National Safety opened a branch devoted solely to CheckMaster accounts. By last week, when Banker Efron and other National Safety executives quietly cut into a cake to celebrate CheckMaster's third anniversary, the idea was an open-and-shut success: the base of deposit banking had been broadened considerably. Sixty-one U. S. banks were using the CheckMaster Plan; 250 more were using similar plans. National Safety had 40,000 active accounts, 35,000 more temporarily inactive, and was collecting $350,000 a year in fees...
...spiders in a pot." Running to 795 pages, told in 104 cinematic scenes, House of All Nations takes for its pot the luxurious Paris private bank of Bertillon & Cie., described by its head, elegant, cynical, lucky, grandly deluded Jules Bertillon, as "a rich man's club: a gambling, deposit and tax-evasion bank ... a society dump" doing business in "grapples, clinches, blackmails, plunges, lucky breaks, long odds, lowdowns, big gambles, and secret bookkeeping...
...Most spectacular of the bunch, a near-genius creation of canniness, stupidity, bombast and lust, is the half-articulate Rumanian Jew, Grain-broker Henri Leon, whose "deposit technique" marks the perfect blend of speculation and double-crossing. When Leon has a love affair with a smart Hollywood adventuress, he incorporates the partnership as the Margaret Trust, of which he holds 49% of the shares...