Practical Gift

My Wife decided that our 10 year old son should get something "practical" for his birthday.

"Suppose we open a savings account for you?" she suggested.

My son was delighted.

"It's your account," she said as they arrived at the bank, "so you fill out the application."

He was doing fine until he came to the space for "Name of your former bank." After a slight hesitation, he put down "Piggy."

The Indian's Loan

Here's one about the old native American who wanted a loan for $500.

The banker pulled out the loan application, "What are you going to do with the money?"

"Take jewelry to city and sell it," was the response.

"What have you got for collateral?"

"Don't know collateral."

"Well that's something of value that would cover the cost of the loan. Have you got any vehicles?"

"Yes, 1949 Chevy pickup."

The banker shook his head, "How about livestock?"

"Yes, I have a horse."

"How old is it?"

"Don't know, has no teeth."

Finally the banker decided to make the $500 loan. Several weeks later the old man was back in the bank. He pulled out a roll of bills, "Here to pay." he said. He then handed the banker the money to pay his loan off.

"What are you going to do with the rest of that money?"

"Put in tepee."

"Why don't you deposit it in my bank," he asked.

"Don't know deposit."

"You put the money in our bank and we take care of it for you. When you want to use it you can withdraw it."

The old Indian leaned across the desk, "What you got for collateral?"

Car Collateral

Before going to Europe on business, a man drove his Rolls-Royce to a downtown New York City bank and went in to ask for an immediate loan of $5,000.

The loan officer, taken aback, requested collateral and so the man said, "Well then, here are the keys to my Rolls-Royce."

The loan officer promptly had the car driven into the bank's underground parking for safe keeping, and gave him $5,000.

Two weeks later, the man walked through the bank's doors, and asked to settle up his loan and get his car back. "That will be $5,000 in principal, and $15.40 in interest", the loan officer said. The man wrote out a check and started to walk away.

"Wait sir", the loan officer said, "while you were gone, I found out you are a millionaire. Why in the world would you need to borrow $5,000?"

The man smiled. "Where else could I park my Rolls-Royce in Manhattan for two weeks and pay only $15.40?"