The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1899-03-18

adopted an amendment to its constitu-
ton providing for charging for soliciting
checks. AS the banks in Jersey City
will have to charge the same rates The
Jersey City News prints herewith the
constitutional amendment and the rules
adopted hereunder
NEW YORK CLEARING HOUSE.
Amendment to the Constitution.
Adopted March Ii, 1899.
Add to section s as follows:-The Clear
ing House Committee shall have power to
establish rules and regulations regarding
collections outside of the City of New
York, by members of the Association or
banks or trusts companies or others
clearing through such members, and the
rates to be charged for such collections.
and also providing for enforcement of the
same. The committee may from time to
time make any additions to, or changes in
such rules and regulations as it deems
judicious. After any rules or regulation
upon the subject has been once estab-
or rescinded until it has been in force
at least three months, except by ma
jority vote of the Clearing House Assoc
citation.
Rules n regulations regarding collec-
lions outside of the City of New York.
Pursuant to authority conferred upon
it by the constitution of the New York
Clearing House Association, the Clearing
House Committee of said association
establishes the following rules and regu-
lations regarding collections outside of
the City of New York, by members of the
association, or banks, trust companies, or
others clearing through such members,
and the rates to be charged for such col
l~ections, and also regarding enforcement
of the provisions hereof.
Section /. These rules and regulations
shall apply to all member of the assoc
citation, and to all banks, trust companies
nv <f1nrc o1aarip1 t1rn11oha cJtnh f,nnrnhapC
The parties to which the same so apply
are hereinafter described as collecting
banks.
Sec. 2. For items collected for the ac-
counts OF, or In dealings with the Govern
ments of the United States, the State
of New York, or the City of New York.
and for items payable in the cities of
Boston, Mass: Providence. R. +; Albany,
n. y; Troy, n: II; Jersey City, n. j.;
Newark, N. j.; Philadelphia, Penn; Bal
timore, Md, the charge shall in all cases
be discretionary with the collecting bank
and the same shall not be governed by
the provisions of these rules and regula-
tions.
Sec. 8. For all items from whomsoeyer
received Except on those points declared
discretionary in Section q payable at
points in Connecticut, Delaware. District
of Columbia, Indiana, Illinois. Kentucky.
Maine, Maryland, Massachusetts. Michi-
gan, Missouri, New Hampshire, New Jer-
| sey, New York, Ohio, Pennsylvania,
Rhode Island, Vermont, Virginia, West
Virginia and Wisconsin, the collecting
banks shall charge not less than one
tenth of one per cent. d.1oGs) of the
| amount of the items respectively.
Sec. 4. For all items from whomsoeyer
received, payable at points in Alabama,
Arizona, Arkansas. California, Colorado,
| Florida, Georgia, Idaho. Indian Territory,
| Iowa, Kansas, Louisiana. Minnesota, Mis-
| sissippi, Montana, Nebraska, Nevada,
New Mexico, North Carolina, North Da-
| kota, Oklahoma, Oregon, South Carolina,
| South Dakota, Tennessee, Texas, Utah,
Washington, Wyoming, and Canada, the
collecting banks shall charge not less
than one quarter of n per cent. 1A%)
| Of the amount of the items respectively.
Sec. 5. In case the charge upon any
item at the rates above specified does
not equal ten cents Q0c.) the collecting
bank shall charge not less than that sum
but all items received from any one per
son at the same time and payable at the
| same place may be added together ano
treated as one item for the purpose OF
fixing the amount ~chargeable.
Sec. 8. The charges herein specified
shall in all cases be collected at the tim
| of deposit or not later than the tenth da,
Of the following calendar month. No col
lecting bank shall. directly or indirectly
allow any abatement. rebate, or return
for or on account of such charges O
make in any form, whether of interest OF
balances or otherwise. any compensation
therefor.
Sec. Z. Every correcting Ddnk, lruS
| company or other corporation not a mem
Der of the association, but .%clearinl
through a member thereof, shall forth
with adopt by its Board of Directors
resolution in the following terms, an
file a certified copy thereof with the asso
citation as evidence as therein specified:
Whereas, This corporation has acquire
the privilege of clearing and making ex
change of its checks through the Ney
York Clearing House Association, and !
subject to its rules and regulations; nov
therefore be it
in all respects assents to and agrees to b
bound by and to comply with all rule
and regulations regarding collections out
side of the City of New York, which ma,
be established pursuant to the constitu
ton of said association, and that tn
president of this corporation is hereby IN
structed to file a certified copy of thi
resolution with the Clearing House Ass0
citation as evidence of such assent an
agreement on the part of this corpora
ton.
Sec. 8. In case any member of the asso
citation shall learn that these rules an
regulations have been violated by any 9
the collecting banks, it shall immediatel
report the facts to the chairman of tn
Clearing Hous Committee, or, in hi
absence. to the manager of the associa
ton. Upon receiving information fror
any source that there has been a vi!olatio
of the same, said chairman, or in hi
absence said manager shall call a meet
ing Of the committee. The COMMITTEE
/ snail investigate Tie ldCtS dllQ uctCll lii
whether a formal hearing is necessar,
In case the committee so concludes.
! shall instruct the manager to formulat
charges and present them to the CON
mittee. A copy of the charges, togethe
with written notice of the time and plac
fixed for hearing regarding the SAM
shall be served upon the collecting ban
charged with such violation. which sha
have the right at the hearing to intro
duce such relevant evidence and subm
such argument. as 1t may DESIRE. II
committee shall hear whatever relevar
evidence may be offered by any perso
and whatever arguments may be sui
mitted and shall determine whether tt
charges. are sustained. In case It reacht
the conclusion that they are. the con
mittee shall call q special meeting of tn
association and report thereto the fac
with its conclusions. If the report of tt
committee is approved by the association
the collecting bank charged with sue
violation shall pay to the association II
sum of Ave thousand dollars, n in cas
of a second violation of these rules ar
regulations, any collecting bank may ais
in the discretion of the association be el
cluded from using its privileges direct
or Indirectly, and, II 1t is a member, e.
PEELED from the association.
Resolved, That the foregoing. rules ar
regulations are hereby established ar
adopted and shall take effect upon II
third day of April, 1888.
A true copy.
WILLIAM SHERER,
Manager.