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<br /> <br />9/11/70 copy to: <br />9/14/70 Copies to: <br /> <br /> <br />Northwestern / Saint Paul <br /> <br />September 9, 1970 <br /> <br />Henderson <br />Crepeau, Olmen <br />Hollenhorst, Herrick <br />W. Read <br /> <br />On the 13th of August, we discussed our bank's probable charge for <br />performing lock box service for the Village of Arden Hills. I thought it <br />might be helpful to you to list those charges in a letter so that you <br />would have them in your file. <br /> <br />I have assumed a round figure of 1,000 billings per quarter and then <br />divided it equally over three months. I know, of course, that most of <br />the receipts come in in the first month of the quarter, but I think in <br />this way you can see what an average month might be. <br /> <br />The charge for this service will be analyzed as we do all our commercial <br />accounts; and if the collected balances are sufficient, then a certain portion <br />of this cost will be covered...!ly an earnings credit. I cannot give you an idea <br />of the amount right now, but\will watch the collected balances and keep the <br />cost to the Village at a minimum. <br /> <br />the Northwestern National Bank of Saint Paul . SS East Fifth . Saint Paul, Minn. 55101 . Phone 224-3773 <br /> <br />Mrs. Lorraine Stromquist, Administrator <br />Village of Arden Hills <br />1450 Highway 96 <br />St. Paul, Minnesota 55110 <br /> <br />Dear Mrs. Stromquist: <br /> <br />Lock box items 333 x .08 <br />Deposits processed 22 x .10 <br />Local checks cleared 333 x .01 <br />Checks drawn on account 5 x .05 <br />Returned checks 5 x .25 <br />Mailing of deposits weekly 4 x .25 <br /> <br />Estimated Total Per Month <br /> <br />$ 26.64 <br />2.20 <br />3.33 <br />.25 <br />1. 25 <br />1. 00 <br />$ 34.17 <br /> <br />~~rulY yours, <br /> <br /> <br />~.~ <br /> <br />C. P. Driscoll <br /> <br />CPD:sah <br />