Bill-Broker

One who negotiates the sale or discount of notes, bills of exchange, and other negotiable paper. A large amount is negotiated by bill-brokers with banks that are unable to use all their resources in ordinary discounts. Brokers submit such paper for examination to the president or other officer of a bank, often in very large amounts, from which notes or other instruments are selected and purchased. Some banks rely largely on the paper of bill-brokers for the employment of their funds.