US974401A - Time-indicator. - Google Patents

Description

G. I. BOBINE, JR.

TIME INDICATOR.

APPLIOATION FILED JUNE 1o, 1909.

Patented Nov. 1, 1910.

L T E E H w S T E E H S 3 G. I. BOBINE, JE. TIME INDICATOR. yAPPLICATION FILEDUUNE l0, 1909.

Patented Nov. 1,1910` 3 SHEETS-SHEET Z. 171g. 3.

G. L BUDINB, Jn,

TIME mDcAToR.

APPLICATION FILED TUNE 10, 1909. 974,401 Patented Nov. 1,1910.

s BELEN-SHEET s.

.UNITED sTATEs PATENT oEEioE.

GEORGE I. BODINE, JR., OF YHILADELPHIA, PENNSYLVANIA.

TIME-INDICAT OR.

To all whom it may concern:

Be it known that I, GEORGE I. BOBINE, J r., citizen of the United States, residing at Philadelphia, inthe county of Philadelphia and State of Pennsylvania, have invented certain new and useful Improvements in Time-Indicators, of which the following is a specification.

This invention is intended to facilitate calculations as to time, such as the number of days betweenone date and other dates.

It is intended for use in connection with different commercial transact-ions, and is particularly adapted for use in the banking business, where it is desired to determine the interest or discount days on loans.

It includes graduated scales so marked and adapted to be brought'into such relations to each other that the interest or discount days between two dates can be read at a glance. In the preferred form the scales may be adjusted once each day and will indicate the discount and interest days on all loans made or falling due nn that date.

The novel features of my invention will be apparent from the following description taken in connection with the accompanying drawing.

In the drawings,--Figure l is a plan View of a device embodying my invention; Fig. 2 is a section on the line 2-2 of Fig. l; Fig. 3 is an enlarged detail view of a portion of the device shown in Fig. l; Fig. 4 is an enlarged View of the means for adjusting thescales; and Figs. 5 and 6 are views of modified forms of my invention.

The devices shownin these drawings have scales to indicate the discount and interest days on loans, and to fully appreciate the reasons and advantages for the arrangement of the scales, it is necessary to irst have in mind certain rules and customs of banking concerns.

count days or the interest days on each loan, and to calculate the amount to be paid for that number of days. Discount days are of course in the future, and the` day of maturity is included in estimating the time, whereas interest days are in the past and the day of maturity is not included. For discount therefore it is necessary to calculate the number of days from the present day to and including a certain day in the future, and for interest it is necessary to calculate the number of days from a certain day in the Specification of Letters Patent.

Application filed June 10, 1909.

Each day as loans are made or come due it is necessary to determine the dis I 'fixed starting point.

Patented Nov. 1, 1910. serial No. 501,343. i

,past to, but not including, the present day. All intervening holidays are included vin reckoning time, both for discount` and for interest, and inthe "c`ase of` interest there is no necessity for paying attention to holidays. In the case of discount, however, it is necessary to take into consideration such holidays as occur at the date of maturity. For instance, if a loan is made payableon a bank holiday it does not have to be paid until the next succeeding bankin day, and the time is to be calculated to am? including that banking day. Banks have holidays in addition to the regular legal holidays observed in other lines of business, and it is necessary to take these into account. For instance, Saturday is in effect a bank holiday, since a loan is never called on Saturday and anote falling due on that .date does not have to be paid untilA Monday. The question what days to include Vand what not to include in calculating interest or discount seems simple, but it is the source of many l errors in the banking business where it is left to the individual to determine. for himself in reckoning the time in each case, and furthermore this individual reckoning consumes much time. My device not only saves the time consumed in such calculations, but avoids mistakes, since the number of days may be sim-ply read-from .the scales with absolute accuracy.

The device shown in Fig. 1 for carrying outiny invention embodies a flat plate or support carrying the above mentioned scales. The scales have 365 equidistant graduations and are made circular in form and in such relation to each other that the' graduations correspond or coincide. In one scale the graduations are numbered consecutively froni l to 365, and in order to adapt a scale for use in calculating discount as well as interest the graduations are numbered vboth clockwisel and anti-clockwise from a I preferably divide this scale into two divisions A and B, leaving -a ring-like opening between them, and ,thus in effect forming two scales'f'which register with each other. The outer scale .B is the discount scale, andv it will be observed that the numbering commences with the heavy line .marked l which line is Vthe start-ing point in all calculations both of interest and discount. The inner scale A is the one for detrminin the number of interest days,'aiid it ywill observed that the numbering of the graduations on this scale does not commence with the one numbered l on scale B, but commences with the one numbered 365 on that scale, and it will be further observed' that the numbering on scale A, proceeds clockwise and is the reverse of that on scale B.

An indicating scale C made of ring-like form fits within the opening between the scales A and B and its upper surface is substantially level with the surface of those scales. This indicating scale has 365 equidistant graduat-ions which are consecutively marked wflthnthe months and the days of the month. It is movable relatively to the scales A and B so that any selected date may be brought into register with the graduation, numbered 365, on scale A, which line is preferably marked distinctively since it is the line from which all calculations are made when the apparatus is set, and I term it the set line. The days on the scale C which are bank holidays are marked distinctively so that it will be seen at a glance that they are holidays, and this may be accomplished by marking them in different colors, or by numbers of dilferent size. Since bank holidays differ in diiferent States, and since Saturdays and Sundays come on different days of the month for different years it is necessary to have a different scale C for each year and for most States, but a scale placed in position may be used in the State to which it applies for the entire year, and as hereafter indicated it is only necessary to'set this scale once each day with the date of that day registering with the number 365 on scale A.

It will be seen by reference to Fig. 2 that the apparatus carrying the above mentioned scales includes a back plate or support D to which is secured by screws F, the circular plate E carrying the scale A. This plate E has an undercut shoulder G at its outer margin. A ringlike plate II- is also secured to the support l) having an undercut shoulder I and spaced apart from the plate E so as to leave a ringlike opening for the scale C. A ring-like plate J is movably mounted on the support-I) and has its edges v extending beneath the shoulders G and I so that it will be properly centered and held in position. Another ring-like plate K is secured to thc plate J by screws and is adapted to carry the scale C. The plate J has gear teeth at its outer edge meshing .with similar teeth on the pinion L carried by the shaft M, and the upper end of this shaft is adapted to receive a key which enters the opening N in the transparent top plate O which is preferably made of glass and which is secured in place by any suitable means such as screws or otherwise. The top of the vshaft M is below the surface of the plate O so that the pinion L will not be accidentally turned and can be turned only by inserting the key. It will be observed that this construction permits rotating the parts carry ing the scale C so as to bring that scale 1n proper' relation to the scales A and B.

The scale C may be made directly on the plate K, but I prefer to make it on separate material such as paper, and to secure it to the plate K, which is preferably made of metal. The scales A and B also may be made on separate material such as paper and secured 'in position on the plates E and H.

The device as above described, and set only once a day, is adapted for use in different ways as a ready means for ascertaining the number of interest days or discount days in connection with calculations regarding commercial papers of different kinds. F or instance, if it is desired to know the number of discount days between today and the true day of maturity of a note the carrier K is turned so as to bring the graduation on scale C corresponding to today opposite the set-line, and then inspecting the number on the scale B opposite the true day of maturity,l the number of discount days will at once be indicated..

Thus, assuming, that today is the 5th of January, 1909, and it is desired to ascertain the number of discount days between today and the true day of maturity of a note erroneously drawn to fall due on March 20th, it is simply necessary to turn the carrier and scale C to bring the figure 5 opposite the name of the month (January)- in position opposite the set-line, and it will be found by inspecting the bank holidays (March 20th and March 21st) that the true day ofmaturity is March 22nd and that the number 77 on the scale B is opposite the number 22 indicating the day of the month of March, showing that there are 77 discount days between today and the true day of maturity of the note. If moreover it is desired on the same day to ascertain the number of interest days on a call loan for example, it will not be found necessary to turn the carrier K for if the scale C has been properly set as above indicated, it is simply necessary to inspect on the scale A the number opposite the day on which the loan was made, and this will be the number of interest days.

It will be noted that both interest days and discount days are ascertained in this manner by simply setting the carrier K so that today known variable) is brought opposite the set-line and reading the numbers on scales A and B. ,It is, therefore, not necessary for the operator to determine what days to include and what days not to include in his calculations,fl since this is indicated by the scale at a glance.

In Fig. 5 I have shown the scales mounted on a cylindrical carrier embodying the xed lend sections lD etanol and Q carrying scales correspending to A and B in Fig. l, and a movable scale in ring-like form corresponding to the scale C in the device shown in Fig. l, and it will be understood that the markings of these scales and the method of operation are like those in the construction shown in l? ig. l.

ln F ig. 6 l have shown another modifica` tion embodying the scales il', B and C which are similar to the corresponding scales in Fig. l, except that thereis no relative movement. between them and they, may be simply printed on a single sheet of paper or cardboard. At the center of the device there is a rotary shaft 'S having two movable hands or pointers rl and U mounted thereon and adapted to be turned in relation to each other, and on this shaft there is a nut V adapted to clamp the two point ers or arms together when they have been set in proper position. ln thel use of thisM form ot the apparatus the pointer T is placed at the graduation on scale C corresponding to the date when the loan is made and the pointer U is placed upon the graduation on scale C corresponding with the date When the loan tails due. The pointers are then clamped together by a screvv- V and turned until the pointer T is at the setline, and the number of discount days may then be at once read from scale B. --The 'operation is similar in determining interest.-

Having thus described the invention, what is claimed is:

l. ln a device of the class described, the combination with two circular scales having a tired relation to each other and provided with 365 equidistant graduations in line with each other, the said graduations being numbered on each scale consecutivelyvfrom ,l to 365, those on one scale increasing clockk Wise and those on the other scale increasing anti-clockwise and the number 365 onone scale being opposite number l 4on the other scale, and movable means adapted to be y brought into Vregister ivith said graduations' to indicate the number of interest days and .also the number of discount days'between tivo dates. p

2. ln a device of theclass` described, the combination with two circular scales having a'. tired relation to each other 'and provided with 365 equidistant graduations in line with each other, the said graduations being numbered on each scale consecutively from l to 365, those on one scale increasingclock'- Wise and those on the other scale increasing anti-clockwise and the number 365 on one scale being opposite number '1 on the other scale, and a third circular scale having regis- 4indicating on said rst mentioned scale the Sdistance between twoselected dates on the indicating scale, whereby the number of days may be read from said first scale. v 4. in a device of the class described, the combination with a circular scale having graduations consecutively numbered in opposite directions, the said numberings commencing one 'graduation apart, of a circular indicating scale having corresponding graduations consecutively marked with the months and days of the month, bank holidays being marked distinctively thereon, and means for moving said indicating scale with reference to said first mentioned scale to indicate the number of interest or discount days between tvvo selected dates.

5. ln a device. of the class described, the combination With a scale having graduations consecutively numbered in opposite directions, the said numberings commencing one graduation apart, of an indicating scale having corresponding graduations consecutively marked with the months and days ot the month, bank holidays 'being marked distinctively thereon, 'and meansv for moving said indicatingscale with reference to said first 'mentioned scale to indicate the number of.

interest or discount days between two sselected dates.

6. In a' device of the class described, the combination with a scale having graduations consecutively numbered in opposite directions, the said numberings commencing one graduation apart, and movable means adapted to be brought into register with said graduations to indicate the number of interest days and alsothe number of discount days between two dates.

In testimony whereof I allx my signature in presence of. two Witnesses.

GEORGE I. BOBINE, JR.

. i Vlitnesses:

JAMns H. VVoLrn, Josnrn STEIN.

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