New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-04-19
CLEARING HOUSE METHODS.
DISCUSSION OF THEM BY EXPERTS ON
THE SUBJECT.
MEETING OF A GROUP OF THE Nuw-YoRK STATE
BANKERS ACKNOWLEDGEMENT GUESTS
FROM OTHER CITIES.

FROM OTHER CITIES.
There a large attendance at the meeting yes
terday afternoon in the assembly-room OF the
Clearing House Of Group No. Of the New-IorK
State Bankers Association. which includes the
banks In New-York City and Brooklyn. The ON
GERS OF man. other banks in nearby cities were
present, and there were four special guests-George
Ripley, president OF the Boston Clearing House'
James V. Watson. president OF the Phliaoeipha
Clearing House: Isaac G. Lombard chairman OF the
Chicago Clearing House, and Charles g HOMER oi
the Baltimore Clearing House.
A. B. Hepburn, president OF the Third Natiohai
Bank ano formerly Controller Of the Currency
who IL chairman OF Group No. 3. presided at the
meeting, and James G. Cannon. vice-president Oh
the Fourth National Bank. who Is president OF the
New-York State Bankers Association. occupied
seat beside him. The subject before the meeting
was Bank Clearing Houses: Their Methods ana
Their Place and Influence in the System OF Finance
BALANCES AND EXCHANGES.
Mr. Hepburn made an address, in which, after de-
scribinR the functions and operations of clearing
houses he said There is one practical question IN
the settlement of clearinghouse balances "h'cn
confronts us to-day 1t has been the UNIFORM GUS
tom OF the New-York Clearing House to settle Its
daily balances either in gold or greenoacks except
In such time as when clearinghouse certihcates
arc in existence II the scarcity Of greenoacks Is TO
increase as result OF locking up the same In the
United States Treasury by means OF bond issues OF
as q formulated policy Of government, then inc
question arises. How shall these balances De se'-
tied?
Another practical question is this: The exchanges
~ the various clearing houses of the United States
are published weekly. complied by our hnanclai
Journals commented upon. and relied upon as reii-
able data indicating the course OF trade ana COM
MERGE In order that this information may De re-
liable It Is important that these reports De UNIFORM
in their character and based upon exact stausucal
info A Der
not only the exchanges they take to the clearing
house. but also the exchanges that are taken away
IN other words both the debts and credts--n other
words they double the exchanges each day. some
cities would include in the aggregate OF exchanges
the value Of the cotton the produce represented
by a bill of lading accompanied by drafts. as well
as the draft Itself Manfestly the same course
ought to be pursued throughout the nation ana inc
exchanges reported ought to consist Of the checks
drafts and other items brought by the banks to
the clearing house with which they are creoteo al
the stated hours Of exchange
UNITY OF THE NETWORK CLEARING HOUSE
". A. Nash president Of the Corn Exchange
Rank who is president Of the Clearing House. was
kent away from the meeting by illness. but ne sent
q letter In which he said:
The efficiency. of the Network Clearing House
the IA ability and good intentions of the men who
have controlled IT, In the years that nave nah h an
IMPRESSED not only by the wisdom and conservatism
: OF their ideas, but by the disinterestedness ahi
TSe nI,y i of the New-York Clearing House
stitutes the salient feature which all other clear
excel.ences and technical advantages The method
Of that py sssS
always had its very best members in control These
men have been at once able, conscientious, unset
FISH and devoted to the general interests. Iney
have worked for the general good very ofien 10 ahe
nsssse o. ther trust in broad sympathetic
fu way. They have not. Oppressed tne WEAK nor
the banks comprising the association that they
could safely their interests to the Proteciion
0 0ev eae been misplaced These bankers have
sented strong and wel-managed banks Clear IN
their home record they nax ns, neeh have
been singularly free from narrow, technical men
men who In time degenerate into cranks Inc proc proc,
ess OF elimination OF this class of men, who often
obstruct by techncaties the wisest aims and pur-
poses has with us been sure and certain; IN me
New-York association there has been. and tnink
will be- no place for narrowness illioeraNty or
self-seekng.
BILL IN CONGRESS CONDEMNED.
William sherer manager Of the clearing house.
repeated the history Of the institution. in which he
told how It aided in floating Government loans at
the time of the war. He also described the ad-
vantaess derived from the use OF loan certificates
in periods of financial disturbance. Mr.. Sherer
spoke In emphatic disapproval OF the bill now be-
fore Congress to incorporate bank clearing houses
and authorizing them to issue currency, secured by
collateral owned BY Their members esscD pb,,aae,nha
Baltimore and Chicago clearing houses explained
their methods. - .,, ,
at luncheon at the Lawyers Club the four clear
ing-house representatives already named. with
ssamns Conrad Conrad e Jordan William sherer,
Thqmass L james az sherman and j. G. endrs
n