“Which account are you referring to?”Mr.Jackson asked, turning back to his computer.
“Um...The account with my name on it.”
“Good enough place to start.”The banker typed in some numbers.“Your account was opened eighteen years ago.A deposit occurred...once a week, every week since then.It’s just a savings account.The last time a withdrawal was made was...a little over a year ago, transferred to Atlanta Financial Services, which is run by Payton Manley.”Mr.Jackson looked at Jamie over his reading glasses.“Can I assume you know who he is?”
“Yes, I know of him.”
Mr.Jackson removed his glasses.“Your grandfather made deposits into each account every Friday at two thirty in the afternoon, each and every week.Well, until he died, that is.My condolences, by the way.I did go to the funeral, but was late getting to the diner and the line was out the door by then, so I didn’t even attempt to try and get in.”
Jamie looked back down at the paperwork in his lap, trying to hold back a tear.“I had no idea.”
Mr.Jackson didn’t say anything, letting it all sink in.
After a few moments, Jamie looked up.“All I wanted to know was if there was enough in the accounts to do some renovations on the diner and give the staff a vacation.”
“Mr.Throneaux, I do believe you have enough to do just about anything that you’d like.”He leaned forward, resting his forearms on his desk.“Can I be frank?”
Jamie could only nod.
“Ever since your grandfather died, I’ve been at my wits end.Anytime the accounts got close to the insurance limit, he would transfer it up to Atlanta.That hasn’t happened but once this year.And while the diner isn’t exactly making money, the rest of the money coming in each week has been steadily mounting up.I wouldn’t be doing my job if I didn’t inform you that anything over that amount would disappear if anything were to happen like with the Savings and Loan debacle like back in the 1980s.”
Jamie took a deep breath.“Can you figure out how much over that limit each account is, added together, please?”
Mr.Jackson put his glasses back on.“I sure can.Give me a minute or so.”
He typed on his computer and then on his desk calculator numerous times.He tore the small paper readout from his calculator.“Here ya go.”
Jamie looked down at the slip of paper, then back at Mr.Jackson.“Even if I opened another account, it would be in excess of the insurance limit.”
“That would be correct.What did you have in mind?”
Jamie thought for a moment.“Okay, let’s do this...set up an account for the diner renovations and then another for staff vacation.That will almost do it.Oh, and how about an account for apartment renovations?Will that work?How about tax implications?”
Mr.Jackson sat back in his chair.“If I didn’t know any better, I’d say you went to the Mr.Solan’s School of Finance.That sounds just like something he would do.”He cleared his throat.“I’m not an accountant or financial tax advisor, but I do think that would be legal and legitimate.I would advise that you contact Atlanta Financial for that type of advice, but I think that is excellent thinking on your part.”
“Can we go ahead and do that, please?”Jamie asked.“Also, is there a way to set up transfer accounts for certain businesses under each account?”
“Yes.”Mr.Jackson was furiously typing away on his computer, and then picked up the phone, dialled a number.“Sarah, can you step into my office, please?”
“I hate to be a bother,” Jamie said.
“No.No, it’s no bother.I’m glad to get this done.As I said, I’ve worried about these accounts for going on six months!”
“Yes, Adrian?”Sarah was standing in the doorway, the door slightly ajar.
“Would you mind helping me set up a few accounts for Mr.Throneaux?”
A look of confusion crossed Sarah’s face.“Who?”
Jamie smiled up at her.“That would be me,” he gave a slight wave.
