My
Career at Manufacturers Bank
Submitted by William C. Blomme,
International Banking
In
October 1952, I started working in the Auditing Department of Industrial
National Bank of Detroit. Towards the end of the Korean War, I was drafted
into the U.S. Army and was ordered to report for active duty in March
1955. While I was in the service, I believe sometime in 1956, Manufacturers
National Bank, a Commercial Bank servicing mainly Corporate Clients purchased
or merged with Industrial National Bank, primarily a
Retail Bank with about 35 Branches.
I
remember being discharged from the service in Chicago, IIIinois
on a Friday in March 1957. I managed to make it home to Michigan the next
day, rested Sunday, and reported to the Personnel Department of MNB on
Monday morning. There was an opening in the International Department and
I started working that day. For the next couple of years, I reconciled
the Foreign Bank Statements of our various foreign currency accounts maintained
overseas. Moreover, I sold American Express, First National City Bank
and Thomas Cook Travelers Checks. I supplied all Branches with Travelers
Checks and performed the Accounting and Remittance function of all their
sales, in addition to other duties.
The
Letter of Credit position opened and I was asked to fill the vacancy.
A part time typist and I handled all Letter of Credit activity. The Portfolio
averaged between one to three million dollars. I remember that each L/C
and Amendment was typed on a manual Typewriter. Punctuation and typographical
errors were not permitted. It was very difficult because there was an
original on check paper, three non-negotiable tissue copies and one office
copy, each with carbon paper manually placed in between. It was almost
impossible to make a correction. I also remember that the original and
all copies each had to be manually signed by two authorized signers for
the Bank
Over
time the portfolio increased substantially. In addition to Import &
Export L/Cs we began doing a lot of Standby L/C business. Forms were developed
containing carbons and the boiler plate language of standard paragraphs.
We went from a manual typewriter to an electric typewriter to a programmed
electric typewriter to a computer. The computer not only prepared the
L/C's, amendments, and the advices covering drawings under the L/C’s,
it also handled the complete accounting function.
I
retired as Vice President in charge of the Letter of Credit Division,
International Department, on April 1, 1992, after 39 ½ years of service.
At the time I retired, before the merger with Comerica, we had a staff
of 29 in the Letter of Credit Division handling a Portfolio of over one
billion dollars. I worked one more year as a Consultant for Comerica.
I
really enjoyed the type of work and all the people I met and worked with
over the years. It was very gratifying for me to be a part of the growth
of the Letter of Credit Division and the International Banking Department.
Of
interest, on October 9, 2003, my wife and I were in the New Baltimore
office of Comerica where they had transferred my checking account when
I retired. We were transacting some business with Ms.
Sherry Mertz, Vice President. She
asked me if I remembered when my account was opened.
I told her sometime in the middle of October, 1952. She said it was exactly 51 years ago that
day! Shortly thereafter, Comerica
came out with a new advertising campaign about how long customers were
with Comerica. I could have said
“51 years and counting!”