US563490A

US563490A - Bank-draft

Info

Publication number: US563490A
Authority: US
Publication date: 1896-07-07
Anticipated expiration: 1913-07-07

Description

(No Model.) M. M. KALLMAN.

BANK DRAFT.

Patented July 7, 1896.

UNITED f STATES PAT NT QFFICE.

MAX M. KALLMAN, OF CHICAGO, ILLINOIS.

BAN K-DRAFT}.

SPECIFICATION forming part of Letters Patent No. 563,490, dated July 7, 1896.

Application filed January 9, 1891. Serial No. 377,237- (No specimens.)

T0 aZZ whom it may concern.-

Be it known that I, MAX M. KALLMAN, a citizen of the United States, residing at Chicago, in the county of Cook and State of Illinois, have invented certain new and useful Improvements in Bank-Drafts; and I do declare the following to be a full, clear, and exact description of the invention, such as will enable others skilled in the art to which it appertains to make and use the same, reference being had to the accompanying drawings, and to the letters of reference marked thereon, which form a part of this specification.

My invention relates to sectional bankdrafts or letters of credit and exchange. Its purpose is'to provide a draft in which the amount cannot possibly be changed, which will be entirely useless except to the payee to whose order it is drawn, and which will afford means of perfect identification of the payee.

In the accompanying drawings, Figure 1 shows the face of that portion of the draft which is transmitted directly to the payer and the back of the other section. Fig. 2 shows the face of that portion of the draft which is delivered to the payee and the back of the sect-ion transmitted to the payer. Fig. 3 shows the face of the draft when the two sections are united.

My improved draft consists. of a main section A, which is preferably of substantially the same shape and size as an ordinary bankdraft, and having a wing or flap, as B, attached to one side of it, as at a, and being smaller in size than the main portion A, so that when folded thereon, as shown in Fig. 3, a portion of the body of the draft A remains exposed to view.

The form of the draft is printed upon the two portions thereof when folded together, as in Fig. 3, so that one portion of the form appears upon the flap ']3 and the other portion upon the body A. The blank form of draft is filled in with a pen in similar manner, so that when the two portions A and B are separated upon the line a neither portion is complete or intelligible.

It is not my intention to claim any precise form of wording of the draft or letter of credit, nor do I desire to be limited as to the shape or size thereof or to the relative shape or sizes of the two detachable portions.

As shown, the portion A of the draft, which is delivered to the payee, shows no items complete except the name and location of the bank issuing the draft, its date, and number. The portion B, which is intended to be transmitted by theissuin g bank to the payingbank, shows the name and location of the bank upon which the draft is drawn, the amount (in figures) for which drawn, its number, and the signature I) of the payee.

Should the payee lose his'section of the draft, the finder would not know upon what bank it was drawn or the full name of the payee, or the full amount for which drawn, and were he to comev in possession of these various items he would still be unable to perpetrate a fraud unless able to exactly counterfeit the signature of the payee.

My improved draft will be found of especial value to commercial travelers who may before starting upon a trip indorse upon the line b a suitable number of the blank forms, which will be left in the possession of the employer. As there may be occasion to remit to the agent, the employer may take these forms to his bank, have them filled and drawn upon any desired bank at the place the agent expects to. visit. The section A will be by the employer mailed to his agent, and the section B will be by the bank mailed to the paying bank. Upon presentation to the paying bank of section A by the payee, and his indorsement upon the back thereof in the presence of the paying teller of his signature corresponding to his signature upon the line b, the amount of the draft will be paid to him. The paying bank will now attach the two sections together by the aid of mucilage, and the complete draft will be a voucher for a claim upon the bank originally drawing it.

\Vhile the draft will be of especial value to the class of business men stated, it will be readily seen that it may be adapted to the uses of any traveling class of people, and effectually guards against fraud of any kind.

I am aware that letters of credit have been used in connection with which a notice or advice slip for transmission by the drawer to the payee has been used containing items of information not found upon the draft itself, and I do not broadly claim such form.

I do claim as my invention- A check or other paper representing value consisting of a main section and a detachable flap connected thereto, a portion of the face of the main section being blank and the remaining portion being provided with printed matter and with spaces for the insertion of names and amounts, and the flap being provided upon its face with printed matter and with a space for a signature and With other spaces for names and amounts to register with MAX M. KALLMAN. Witnesses:

M. E. FERGUSON, W. J. HENDERSON.