ESTABLISH "BUSINESS FELLOWSHIP" IN FOREIGN BANKING

In order to bring the universities of the United States into closer touch with the needs and demands of the large commercial institutions of the country; to help students to come to an early decision as to their life work; and at the same time to assure them of an opening in a business for which they have been specially trained, the National City Bank of New York has established a "business fellowship". This fellowship enables students selected by the universities and colleges of the country to spend their summer vacations in training in the National City Bank during their course in college, and is creating opportunities for men in the field of foreign banking unlimited in their possibilities.

The National City Bank's plan of cooperation with the leading educational institutions of the country consists of a laboratory fellowship in practical banking, for which both undergraduates and graduates are eligible. The training consists of a study of foreign languages, banking, and related subjects, combined with practical work in the various departments of the bank.

Training Varied to Meet Conditions.

The period of training for the students accepted by the bank covers twelve months and is divided according to the classification of the applicant. Sophomores wil spend two summers each at the bank, and the remaining six months will be completed immediately after graduation. Juniors will spend one summer vacation at the bank, and will complete the remaining nine months of training after graduation. Graduate students will spend at least one summer vacation, but preferably two, al the bank and will complete the remainder of the required year upon finishing their university course. Those who intend to enter the business world directly may arrange for their year's training upon graduation from college.

During the summer, the bank will pay members of its classes as follows: Undergraduates, first summer, $60.00 per month; undergraduates, second summer, $67.50 per month; undergraduates, third summer, or graduates, $75 per month. This remuneration has been found to be in accord with average living expenses as carefully compiled from figures submitted by members of previous classes, plus a moderate increase in the second and third years in consideration of satisfactory attendance and training.

Each student entering the bank under the terms of the fellowship will pursue a course of study including among others the following subjects: banking, foreign exchange, commercial geography, foreign trade, credit, forms and documents, and foreign languages. In addition to these classes which are held before and after the regular banking hours, special lectures and interviews are arranged by the bank's educational department. Examinations are held at stated intervals to determine the progress made.

The laboratory feature of the course is maintained by the rotation of the student through the more important departments of the bank. Each student will be assigned definite duties in turn, to the end that he may become thoroughly acquainted with the departmental routine. At the same time opportunity will be given to observe the functioning of the department as a whole.