from an Island deposit company.

However yesterday officials at the Gibbons Deposit Company said they were happy with security and the theft happened due to a "procedural error''.

Police were called to Gibbons Company on Monday after cash and cheques were found missing from an office drawer.

Police spokeswoman Evelyn James Barnett said a company manager told Police that she and another employee had taken in a substantial amount of money during the morning.

"Around lunchtime the manager left the office for about 15 minutes,'' Mrs.

James Barnett said. "When she returned, and was in the process of dealing with another customer, she discovered that a large sum of money in cash and cheques had been removed from her office drawer.'' About $500 in cash was taken and management have contacted the people who wrote the cheques to have stop orders made. The value of the cheques is not known.

"In the meantime the merchant community is being advised to be on the look-out for cheques rubber-stamped with the company name on them.'' Yesterday Gibbons Deposit Company managing director James Gibbons said he was happy with security -- but feared that procedures were not followed.