On Tuesday, the third of May, 1881, Scranton, Willard & Co., brokers, of
New York City, sold to Decker & Co. stocks to the enormous sum of
$127,000. For this property Decker & Co. wrote a check on a bank for
$127,000, and a messenger was sent by the cashier of Scranton, Willard &
Co., to have the check certified--that is, to have the bank officials
write across the face of the check in red ink "Certified," meaning that
the money was there and would thenceforth be dedicated to the redemption
of that particular piece of paper. The boy returned with the check, the
cashier put upon his own file a "tag" representing the amount of money,
along with many other similar records, and the boy was sent with the
check to the Bank of North America. The boy handed to the banker, with
the check, a similar "tag" from the cashier, which was also filed. When
you deposit money, at many banks, you fill out a "tag" or deposit-check,
and offer it with the money, which "tag" is used by the banker as a
safeguard against errors and lapses of all kinds. When Scranton, Willard
& Co.'s cashier reckoned up his "tags" he found no record of a check for
$127,000. He immediately accused the boy of purloining the check, and
inquiry at the bank (met by the reply that no such check had been
deposited, as shown by the depositor's own "tags") strengthened his
suspicions.