New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-10-10


supply of notes of strictly first grsde Is especieny
small and the offerings are principally OF nsnes cae9
fair The regular minimum quotation may DE sts,ep
at7l T. ceIt with transactions 10 second class noes
Al range of from to 10 y cent. On call the offer
ings of capital have been quite Tree and the deuSn1
very small.
CLEARING House. ~ BosToN.--As our readers
are aware Arrangements making by the Boston
banks to establish clearing house similar to the one
which is in successful operation In New o,k Cty.
Twenty of the Boston banks have scceded 70 tHls
project and committee has been appointed 10 effect
the necessary arrangements. take pleasure IN aY-
ing before our readers the following letter from George
ID. Ly man, Esq, manager OF the New. ork CieAnng
House, 10 A Drake, Esq, cashier OF ne Coiu nolan
bank giving interesting account OF the operations
Of The clearing bouse:
NLw-yesE CLEAAlsG House. WEDNESDAY Sent =, lso1
A DRAKE ESQ. Cashier-Dedy SIR Al the requisite L
sn an ESQ., Of the Mechapic. Bank send you BY express
@ Dag % p:''se contain ns tSer business WIN
tie Ciearing. House-al but the form OF our books,
s.aT IN t ss p 5us Of e.eT to Eve fol- description Of
the conducting business nor OF al the results
~. much S see ss, Of he can Sc
its operation than By any t.,,ipon Of Il shall be Ds,e5
whom have the pleasure of meeng-he practical work
ali TIE banks Of the Association fortyegh in num-
per, ee =. 'ne I ~ " ~ t'i;r-
CLERKS bring with them their statement which shows first the
snouI Of ID. receipts the bank which they represent Up
the close Of the bu,nes Of the previous day secondly the
which has added from morning remietAnces
irsHoe1s for excbanSe-beina h. spo1at Of the first
items united They also bring ticket whioh Informs
AID which credit them with. Tneir statement
has will column in which toe amounts 70 be re-
eyed are to be entered The specie CLERK or porter CT s,a
brings with him aem OF The amount which the bank
a.o brings the Lev inside up in parcels with slip upon
top each exchange add the teta
staten. Mt sss snk column headed received BY" At u
oeek all the clerks are called TO their places the settling
ev ard the uP-n the out'de 81, the banks BEING
ssy DaSe e. Of ae 100 .n s
TIE from each Other Inc P bring ,hs money en-
the t and The Las. exchange the for the bank next
veng bank his right the sxch,uge which
h To- fnq To :se tina. the me eSesns he
with the stated The statement Of The porter of the
proceed Until they have made ~ room, and
delivered each bank the exchange they brought a,a;t
brings them back to the point Of s',rtins Their own
for This by FIVE minutes The exchanges for esch
bank thus brou h into the hands Of their setrog clerk who
Re calls with his porter and then oos ais receipts
the which received aud the result OF
the exchange wbn either makes his bank debtor 10 or creditor
with Cltang House the porter then returns hone with his
receipt the Information Of toe result sxha9se
for the day either debtor creditor b,nk The settling
the amount brought and his b,anee either debtor
creditor From these tickets and those before named as being
pioVkpt Dy 'hc s0Ih"t -
!. T I ;es NJ The pe.u Announced Snous 70 may
cerk seldom happens that proof is made the
fret some errors beirg aim t sure TO be made
For detection Of these the small check tickets
u.ed You viii proof based the settling
clerks and that tits assumed tn amounts aed
up them YOuwi s9Perceive ths,wo mounts
upon Of each settling clerk must be foand
upon toe statement of every other bank belonging 70 the
required cf each settr he make of
hs d. sss every . ONE hoo bb he Ia. AMI b,
tha
Is thus made the difference must be n footing winch IS
egsmins each otE Otins Thi. Of course detect. the err
system OF fines Is connected with the system, oyhye
m. BEN ss aDG St bH Thu
upon their ard we usually make the proof within the time
for Bank fAmeres acting for The sssocia
on thai capacity In this bank an, osna deposits ,ash ,n
f deposi, in Of 500 Geo. 5000 and $1,000 GER
deposit payable the order Of Of the associated banks
and that they nod such cunts in trust a. special dePo
in the settlement Of balances At o'clock
ell the banks w9H are dsSG b and n @ sa
$500 the bsance sssinst them AT ~ tue debtor banks
erection banks. by their rorter, receive them
giving receipt therefor and s two O'clock the settlement Is
The direct results Of the above are =. follows VIZ
balances. saving Of of entities aud
osiinss OF much time and sbo for eshe tsle's, and
Sa re fas &c. the
belonging to the socision the Of specie in the
Of basnce and oher benefits OF the char
The indirect benefits fully equ 10 the direct bas
they will suggest them Sc will speak Of Them Il
Sufficient that the system perfectly satsfact TO
the snls this cry and that tends TO sound bank
ing nd that its here has perfect and stfac
tory the banks . to the public trust tha your banks
the syem, and shall be gsd 70 furnish them with
they may desire and aid way ia my
the establishment of the Boston Clearing House. Hoping
that may have future time opportunity Of ho
the working Of this institution eereg that my
time full and perfect description of this H.
stitution, l am, respectfully yours,
GEORGE d. LYMAN. Manager.
Markets..CAREFULLIR REPORTED FOR The TRIBUNE. |