Show F t ir Tie Tame T T I I II I 1 per J S a 1 I Ih r- r J By GERALD ANDREWS Retirement Adviser Check That Check Before Check Before You Sign It Ive I've just finIshed reading rading to filC sad story of Sam and Joe Lets Let's stick slick to their first names Its It's n a astory story from the Southwest and I wouldn't want to rile rHe the pair by going into too much detail Anyway heres here's the story Sam and Joe were such good friends that Sam said okay without thinking about it when Joe asked to borrow a bank check Seemed natural enough They've used the same bank for years and wIth Joes Joe's sIgnature on the check what could go wrong Wen Well what went wrong was this Sams Sam's next bank statement showed that hIs account was by exactly the am amount withdrawn How come The fhe answer is automation The bank recently installed a sorting sorting- machIne to handle thousands of checks When Joes Joe's check turned up the machine spotted Sams Sam's code number and ond recorded it ns as a withdrawal from Sams Sam's account Sam hit the ceiling Joe couldn't explain and it took a bit oOn of in- in investigating at the bank before the truth came out That's lints lint's one of the hazards of progress A mere human could cod co d at have seen that t the signature was wag what counted thrive on figures occasionally with the result experienced by Sam and Joe Its It's a cautionary tale for any any- anyone anyone one with a checking account If you loan a check even drawing a heavy line through your code number may not be enough The machIne may look right ri ht through the line and tha thai i number anyhow I Coded checks stamped with your name carry another hazard with them Forgers thrive on such documents tell All a member of this fraternity needs Is a clutch of your checks and and he can subsidize a cross country spree by signing your name and his amount on one after another Then theres there's the blank check check- one that bears your our sIgnature and nothing else ThIs is a dangerous thing to leave Iy lying ng around because a second party can fill in the blanks and then pres lt the check at the bank without fear After all the signa signa- signature lure ture Is authentic not forged The precautions lire arc mainly malt Y n a matter of common sense but it ik might be just as well to ask about them at your bank Theres There's peace of mind in knowing who's cashing your rout checks e and for o how much |