New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-03-10
CHARGES ON OUT-OF-TOWN CHECKS
PROPOSED CHANGES IN THE REGULATIONS
orr THE CLEARING HOUSE ASSOCIATION


A. 4 meeting yesterday which was attended by
49, rros,dopts Of sixtv-one OF the sxty-four banks
which arc members Of the New-York clearing
House Association certain proposed changes III '"o
constitution and regulations OF the associa''0'
considered relating 10 the collection OF cha'so VI
out-of-town checks. The constitution OF lne 80
citation provides that amendments to that HsIu-
nent must be brought forward for adopuon a' VIZ
meeting next succeeding that on when 'he! W.
D-oposed and in accordance with that proNlsio" ~
was voted that the association meet on MONDAY a.
which time It is believed the proposed changes VIII
be adopted 1,.., t1ouse
Committee adds to Section OF the coiS'''''
the association The following provision; ..
The Clearing House Committee shall nave p onMel
to establish rules and reguatons reeai h ,S,epbers
oS The association or bank or trust company ,bn
otbers clearing through such members ana Iio
rates TO be charged for such collections anu u.s.
.Idinc Tor Enlargement OF the The com
rnittee may from time to time MAKE any 60 oe n
To- or changes in such rules and reeuau1nS a. e,oon
deems ud9us A1teT any rule GF reg II sha not
however be altered or resclndeu untn roaioritv
in force at least three months, eXc t, o'
vote OF the Clearing House Association ,,, -,
Tho rules and regulations to be estaohsheu ~
the clearing House Committee under the author'ty
given It by the amendment to the cohs'''u''o" :"
adopted, are in part as follows: III
These rules and regulations shall apply TO "a, an
oarbcrs Of the association and to all banks uust
nomnanies or others clearing through such mem
hers The parties to which the same SO apply are
hereinafter described collecting banks; soo,,ros
For items collected in the accounts, or in deaHngs
with the Governments of the tnltcd o(a1Js' e,S
for items collected In the cities Of Boston. Mass.
Providence r. J.; Albany, n u IToE nh penn
Baltimore Nd the charge shall in an cases , NJ
Discretionary with the collecting bank ana the tSese
shall not be governed by the provisions OF ''''S7
rules and regulations. -,soo,.or received (except
on those points declared discretionary in section ~ -
payable at points in Connecticut )eIa~aIe' Nv, Ine
i a55 MtSigan. Missouri New-Hampshre
New-Jersey NewYork. OHIO; PennsyIyan1.ai. i Ms
West Virginia and Wisconsin. the collecting Dahns INKS
shall charge not less than one-tenth o, PEI 'e''
For ali items from whomsoever received payable al
points in Alabama, Arizona. Arkansas ~ l
Iowa. Kansas. Louisiana Minnesota. Mississipp,,
Montana, Nebraska. Nevada NeW-MeXlco, S,,tb
Carolina North Dakota. Oklahoma. oregon. SCUM
Carolina. South Dakota, Tennessee. Texas Utah .,
Washington Wyoming and Canada Ine Of
per cent Of the amount Of the items respectre t
above sneci6ed does not equal 10 cents. the collect
ali items received from any one person at the same
together and treated as one Item Tor Inc purpose
Of fixing the amount chargeahIe-
It is further provided that in case any member
of the association shall learn that the rules and
regulations have been violated by any Of the col
lecting banks It shall Immediately report the
facts to the chairman Of the Clearing House Com
mttce, or. in his ABSENCE 10 lhe md!dsti ~ w
association. meeting Of the committee IS mere
unon To DO called and If II shall be decided that
formal hearing Is necessary charges against the
offending bank are 20 be formulated ana evidence
and argument are 10 he heard on them az the near
ing If the committee sustains the charges Us
findings are to be reported 10 the associttlop al
special meeting. If The report or the
approved by the association the colleciin- bank
Charged with such violation shall pay 10 the assoc-
alton the sum Of 5000 and IN case OF second No-
lation OF the rules and regulations any coneotins
hank may also in the discretion or the asSP'lt-
lion he excluded from using its privileges directly
or indirectly and II II is member expelled from
the association.