Banking: The Check Is in the Pail

The Check Is in the Pail

To the weekend cleaning woman at the Continental Illinois Bank of Chicago, the clear plastic bags on the floor of the computer room looked to be full of trash. She thereupon heaved them into a bin that was taken to a garbage- compaction area. But the following Monday, Continental's data processors discovered they were short $227 million in checks that the bank had honored but not yet entered in its computers. A crew of janitors then began searching the immediate area, to no avail. Finally, after an anxious hunt, they located the documents in the compaction room amid bundles of wastepaper...

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