NATIONAL BANKING UNDER THE FEDERAL RESERVE SYSTEM
Bank’s correspondents. These gentlemen consider it a privilege to
give their attention and best efforts to the special problems which are
every day laid before them by the Bank’s correspondents.
Our correspondent bankers visiting New York will find the Forty-
second Street branch of particular convenience because of its acces-
sibility to the hotel, shopping and theatre district. The Bank also
has a branch at Fifth Avenue at 28th Street, which serves the impor-
tant business district in that section, while the Bowery branch, lo-
cated at Bond Street is in the heart of the East Side district.
Compound Interest Department
THis is a department where deposits as low as $1 are accepted, and
interest compounded monthly at the rate of 8 per cent. per annum
is paid on all balances of $5 and upward. Although it was only
started at the beginning of 1922, it is already being used as a depos-
itory by many thousands who wish to build up bank balances.
Safe Deposit Facilities
Complete and up-to-date safe deposit vaults are maintained at
most of the local branches. These vaults afford the last word in
protection to valuables of every kind and are operated as an added
facility of National City service.
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