Where the Money Is. Who Stole It?

By James Babcock

Want to know all about banking? I didn’t think so. But that’s where there money is! And all those employees to steal it! However, you’d have to be more clever than the auditor, even if he’s new to the job. And that’s the situation Charley Hayworth finds himself in at Holmes Bank and Trust—where he also finds lovely Lucy. Set in midsummer 2020, this fast-paced novel also illuminates the issues troubling the country as it faces a presidential election.

• Language: English
• Publisher: James Babcock
• Release date: Feb 28, 2022
• ISBN: 9781005161958

James Babcock

Following three years in the Navy and forty years in international and domestic banking, Babcock took up a second career as a writer and composer. His plots draw on his travels abroad and experiences in foreign exchange trading, bank operations, lending, trust services, auditing, and bank management. Active in community work, he served as a university rector, symphony president, and chairman of economic development organizations. He holds degrees from Princeton and the Wharton School. In addition to his novels and short stories, his creative work includes books of humor and games and a number of pieces for violin and piano. He resides with his family in Blacksburg, Virginia.

Book preview

Although the bank had closed for the day, the lobby was packed. All the personnel from the main office and the bank’s nine branches were there. Balloons and strips of colored crepe paper decorated the tellers’ cages and platform desks. The box of blank deposit tickets had been cleared from the lobby table and replaced with a multilayered white cake. The occasion was a surprise birthday party for Lillian Preston, the bank’s much loved personnel officer.

The bank President shepherded Lillian through the crowd to the cake. Now Miss Lil, he said, I know you have enough hot air in you to blow out sixty candles. But we just couldn’t find a cake big enough to hold all of them.

Next time try harder.

The staff laughed.

Seriously, Lil, with over thirty years of service, you are the best of the bank—to our customers, and to all of us. Happy birthday!

Mr. Holmes, I don’t know what to say! I don’t deserve all my blessings—but Jesus won’t mind if I have a piece of that cake.

The staff members laughed.

Of course he won’t, Lil, Holmes said, I’m going to cut you a piece myself.

Only a small one, please.

He made the first cut, moved the knife to make a narrow slice, and then paused. Just tell me if this is wide enough.

Keep moving.

Everyone laughed.

Well, I will. You’re always so nice to everybody else, Lil, it’s our turn to butter you up.

I like butter. I like frosting better.

As usual, the little old lady’s wry good humor contributed to the congenial atmosphere that made the bank a pleasant place to work. As President Holmes liked to say, it was a happy family.

That the Holmes Bank and Trust Company was a family bank was also true. It had been founded by President Holmes’ father during the prosperous era that followed WWII. Anticipating further growth of government following the Depression and war, he had located the new bank in a village halfway between Richmond and Washington, D.C. As he had foreseen, the town had grown in population vertiginously to become a large bedroom community for state and federal workers driven out of the central cities by the inflation of property values. As a community bank, Holmes Bank and Trust had concentrated on consumer deposits and consumer loans, and it had grown steadily with the expansion of its home town.

Chapter 2

The young man parked in one of the open diagonal spaces in front of the bank main office and put on his mask. He smiled to himself. I hope they won’t think I’m a bank robber.

He pushed through the glass door of the main entrance and spoke to a secretary at a desk on the platform side of the lobby.

I’m here to see the president, he said. Can you direct me to his office, please?

Certainly, sir. Just take the elevator over there and the receptionist on the second floor will take you to his office.

Thank you. He paused and looked around the lobby. You’re not wearing masks.

Mr. Holmes thinks it looks bad. He’s big on our being a friendly bank.

Well, it’s a job interview, so I better do the same. He pocketed his mask.

With the spread of the coronavirus epidemic, the Governor had mandated protective measures, including the wearing of masks in public places. Not everyone was complying. Charley Hayworth shook his head.

As he waited at the elevator door, the secretary watched him. She wondered what job the striking young man might be seeking from Mr. Holmes.

The second-floor receptionist sat behind a large desk with a computer and telephone console. Flowers brightened her desk and the top of the file cabinets behind her. As Hayworth stepped off the elevator she looked up.

You must be Mr. Hayworth, she smiled. You’re right on time. Mr. Holmes is expecting you.

Hayworth gazed at the young woman for a moment, puzzled. Then he smiled. Aren’t you Lucy Williams?

She frowned. Yes. Do I know you?

We were in high school together. People called me Chuck then.

Oh, gosh. Yes. You look different!

So do you. You used to wear a ponytail.

She lifted her hand to her hair. Well, that was five years ago, you know.

Don’t worry. The bun looks good. So do you.

She blushed. Well, we mustn’t keep Mr. Holmes waiting. Good luck with your interview.

Lucy made the introduction and the President came from behind his desk to shake hands. Come, young man, let’s sit on the sofa. He pointed to the leather couch in front of the floor to ceiling window. So tell me, do they call you Charles, or something else?

Charley. When I was a boy, it was Chuckie, then in high school it was Chuck. The Marines preferred Charley, and so do I.

Well, Charley, I was impressed with your resumé. We haven’t had an internal auditor before, so we want someone with experience, and you come highly recommended by our accounting firm. Peter Horowitz told me you do excellent work. Do you have your CPA yet?

No, sir. But I’m working on it.

But you have studied accounting?

Yes, sir. Accounting was my major at Virginia Tech.

Well, we don’t require a CPA. But your experience as a disbursing officer in the Marines fits, and of course you know all about auditing if you’ve been working with Peter Horowitz.

Thank you, sir. I haven’t worked on your audit, but I have help-ed with audits of other banks.

Well, that’s what we need. I myself only had a taste of bank operations before my dad passed away and left the job in my hands, so I’ll be relying on you to let me know if there’s any slippage along the way.

Yes, sir. Will I be reporting to you, sir? It’s best that I be independent of everybody else in the bank.

Yes, we’ll set it up that way. And of course, as the Fed examiners told me, you must feel you can go around me to the board of directors if you think that might be necessary.

I can’t imagine there would be any need for that. Unless, Charley mused, the President himself has his hand in the till. I wonder if he understands that.

Holmes assumed a more serious expression. Let me just ask you one thing, Charley. Why do you want to be a banker?

Good question, Charley thought. What does he want to hear? Well, Mr. Holmes, when I was in the Marines, I felt real pride in serving my country. I think banks are all about service, too. I would feel I was making a contribution to the community.

Holmes beamed. That’s wonderful Charley. And if you didn’t know of our reputation already, you’ll soon learn that Holmes Bank and Trust is all about service. Well, Charley, I’m going to offer you the job. He named a dollar amount. How does that sound?

Terrific. It was almost double what he was earning with Horowitz Accounting.

We’ve discontinued pensions for our newer employees and instead we set aside contributions to 401(k)s. As an officer you get a one month vacation, plus half the cost of your health insurance, and free life insurance to protect your family.

Oh, I’m not married.

The ladies in the bank will be happy to know that. So what do you think?

Sounds good, Mr. Holmes. I accept.

When can you start?

Well, Mr. Horowitz told me I wouldn’t need to give him any notice if I agreed to take the job here. So I guess I could start tomorrow.

Splendid!

Just one question, sir.

Of course.

Do you expect to be closing the bank because of the pandemic?

No, not at all! People need our services. I’m having plastic shields installed for the tellers.

No masks?

Oh no, that would make the customers uncomfortable. We’ll be practicing social distancing. And of course, lots of hand washing—all that dirty money, you know!

With that, Holmes ushered his new auditor to his office door and shook hands. Lucy will help you get settled in your new office.

As Hayworth passed her desk, she smiled. So how did it go?

I took the job.

Wonderful!

He said he wants you to help me move furniture.

Anything for a former classmate.

I can see it’s going to be very pleasant working here. See you tomorrow.

Chapter 3

In the morning, Charley reported for work early. Holmes’ secretary had not yet arrived, so he took a seat in front of her desk. As the elevator doors opened, he glanced at his wristwatch.

Good grief, Lucy laughed, You’re checking up on us al-ready?

No, just observing with admiration that you are six minutes early.

Reserved parking. No problem. So, Mr. Holmes asked me to help you set up your office. Give me five minutes and I’ll show you where it is. She disappeared into the ladies room. On her return, she called the lobby receptionist. Take my calls, please, Charlotte. I’m here, but I’m helping Mr. Hayworth find his way to the drinking fountain….Yes….We now have an internal auditor.

The office that had been set aside for him was just down the hall next to the door to the operations center.

Very good, he observed. Can’t get any closer to the debits and credits without posting the books myself.

Plus you have a very nice view, Lucy observed.

Someone has been looking out for my comfort.

That would be Miss Lillian, not me. By the way, Mr. Holmes has asked me to double both as his secretary and yours. She held out her hand. With a straight face she said, I’m Lucille Williams …Lucy.

He laughed. You’re hired! You know, I didn’t think you’d remember me from high school.

We shared senior English. But we never spoke to each other.

You were the prettiest girl in the class. So naturally I was too shy to talk to you.