Bound Volumes, Hometown History
March 27, 2025
110 YEARS AGO
The Wilber National Bank has, some weeks since, installed and has been operating one of the latest and most improved Burroughs statement machines – a device that approaches as near to a mechanical book keeper as is easily conceived, and is a marvel to all who have witnessed its operations. With it the bank has daily a statement sheet of each active account, posting and adding all deposits made and subtracting all checks paid by the bank upon the account and automatically recording the daily balance. This is all done mechanically, an operator manipulating the keys of the machine much as one writes with a typewriting machine. The machine is controlled by an electric motor and has all the latest appliances and attachments for ledger work. This implement, marvelous and almost human as are its capabilities, is of course not designed to displace the ledger and accounting system of the bank, but rather as an additional check against error, and to provide a quick and accurate method of supplying depositors statements of their accounts. At present, the Wilber National is posting and tabulating daily some 2,000 active accounts with the machine.
March, 1915
You have reached your limit of 3 free articles
To Continue Reading
Our hard-copy and online publications cover the news of Otsego County by putting the community back into the newspaper. We are funded entirely by advertising and subscriptions. With your support, we continue to offer local, independent reporting that is not influenced by commercial or political ties.