Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: CHAPTER II. THE DEPOSITORS. 25. Deposits, when classified according to the depositors for whose accounts they are carried, may be divided into individual, bank and public deposits. All deposits by private individuals as such, by individuals as representatives of other individuals or bodies of individuals, by companies, firms, corporations, partnerships, etc., are individual deposits. The general legal status of an individual depositor is no different from that of a bank which deposits in another bank, but as the national and state banking laws provide the manner of keeping reserves, public deposits, and deposits in other banks, and the banking authorities of the state and federal governments require separate accounting in regard to these different items in the reports made by banks, they are divided into individual deposits, public deposits, deposits in banks which are reserve agents and deposits in banks not reserve agents, etc. A subsequent chapter deals with reserves. Except where otherwise noted, the principles stated herein relate to all deposits, whether individual deposits or deposits by banks. 26. Bank May Select Its Depositors—A railroad generally must accept such business as is tendered it; a hotel keeper admit all comers; i. e., they cannot at their own pleasure accept of refuse to accept passengers or guests. A bank, however, while it is in the nature of a public institution (called quasi-public), need not accept deposits tendered it unless it wishes to serve the one making the tender, and if a bank does not wish to retain the deposit of one who has been a depositor, it may close the account, tender him the balance due and refuse to receive further deposits from him. Likewise the depositor may terminate the relation at any time he sees fit, by withdrawi...