[D8736ACJ], Letter from Samuel Insull to Alfred Ord Tate, June 4th, 1887

Item

Abstract

"We have sent statements to Sprague to-day showing balance in our favor of $8,892.31. You had better get from him notes for half the amount, certainly not for more than $5,000. You will have to get the notes countersigned by Mr. Johnson as President of the Sprague Co. and then endorsed by Mr. Batchelor as our Vice President. You better send the whole of them to the Germania Bank. Our balance there are very good, amounting to upwards of $16,000. and our line of discount only amounts to $30,000. ## With relation to the 11th. Ward Bank, I have averaged our account from the 1st. January to date and I find that your average balances amount to $5,298.56 and our average discounts to $31,399.39 Now inasmuch as our checks are drawn here from a day to two days before the Germania of the 11th. Ward Banks cashes them, the average balances of their books should be greater than this. Of course the average discounts would be the same, inasmuch as we cross off the notes the day that the banks should meet them, not waiting for any advice from them."

Recipient

Date

1887-06-04

Decade

1880-1889

Type

Identifier

D8736ACJ

Folder Set

D8736

Title

[D8736ACJ], Letter from Samuel Insull to Alfred Ord Tate, June 4th, 1887

Microfilm ID

119:1094

Publisher

Thomas A. Edison Papers, School of Arts and Sciences, Rutgers University