AMAZING MACHINE

Rotorua Morning Post, Volume 2, Issue 563, 21 June 1933, Page 2

AMAZING MACHINE

WILL. REVOLUTiONISE WHOLE SYSTEM OF BRANCH BANKING. ; In a sound-proof room in the London offipe of one .of the "Big Fiye" banks sits. a girl . who opei'ates a new and amazing machine. , It does- tlw- work of 60 hank clerks. A head. Offic.e, .completely equipped with these machines would need a mere skeleton. staff at branch offices. There would, in fact, be nothing for branch banks to do but to eollect money and cash cheques. The machine is four feet high, and is like a mammoth typewriter, with small leve.rs.instead of keys. It. — Heals with 80,000 separate ledger entries an hour. Records the -code number of the client and ch'eque. The lamount pa.id in or out.

The tatai balance and interest due. . .And if . anything goes .wrong the machine itseif cails attention to the error by "handing out" a red card. . . A .banking, official said to a newspaper representative: "This method will revplutionise the whole of our branch banking system. "The idea of centralisation is to have all possible accountancy work now done by branch barik istaffs carried out by mechanisation at the ne'arest lo.cal head. or .central oihce. "This will mean a further slowing down of recruiting of male staffs and promotion, because fewer employees will be necessary."