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For the ROYAL BANK OF SCOTLAND, J. S. Fleming, Cashier.

For the BRITISH LINEN COMPANY, James Syme, Manager.

For the COMMERCIAL BANK OF SCOTLAND, A. K. Mackenzie, Manager.

For the NATIONAL BANK OF SCOTLAND, W. J. Duncan, Manager.

For the UNION BANK OF SCOTLAND, Charles Gairdner, General Manager.

For the CLYDESDALE BANKING COMPANY, George Readman, General Manager.

EDINBURGH, March, 1880.

Rules to be observed at the Edinburgh Clearing-House.

I. The Clearing-House shall be opened every business day, except Saturday, at one o'clock, and closed at fifteen minutes past one, after which no documents shall be received. On Saturdays, the Clearing-House shall be opened at eleven o'clock, and closed at fifteen minutes past eleven.

II. The Clearing-House shall not be opened on Bank holidays. On half-holidays it shall be opened at ten o'clock, and closed at fifteen minutes past ten.

III. Each bank shall be represented at the ClearingHouse by a competent clerk, who shall deliver and receive the documents referable to his bank. An assistant clerk shall also attend when required, that there may be no delay in closing the clearing.

IV. Each clerk shall be furnished with a set of books for the various banks, in which the documents delivered by him shall be entered and summed before he goes to the Clearing-House, and he shall hand to each of the other banks a duplicate list along with the documents delivered.

He shall also be furnished with a book in which he shall strike the balances for or against the other banks, and he shall not leave the Clearing-House until the general balance is completed.

V. Besides orders payable on demand at the banks in Edinburgh (including district branches), and bills domi. ciled with the head offices of the banks in Edinburgh, orders or bills payable elsewhere in Scotland, and requiring to be cashed by the banks with each other, may be passed through the Clearing House. Although the general rule is to pass all clearing documents through the Clearing-House, it shall be in the option of each bank to collect any such documents in cash.

VI. Each document shall be sufficiently discharged before being sent in, and shall bear a Clearing-House stamp containing the name of the bank to which it belongs and the date of clearing, in addition to which, if it has been cashed at a district branch, it shall bear the stamp of that branch.

VII. Documents passed through the Clearing-House, payable at the district branches of banks in Edinburgh, shall be forwarded in time for presentation the next morning

VIII. Documents drawn on the head office of any bank, which are not duly honoured, shall be returned on same day, by messenger to the head office of the bank at which they were cashed, by three o'clock on ordinary days, and 12.30 on Saturdays, and shall be repaid in cash. Documents payable at the district branches, which are not duly honoured, shall be returned through the Clearing-House on the day after that on which they were cleared; or it shall be optional to return any such document direct by messenger to the office at which it was cashed, provided this be done before the hour of clearing, on the day after

that on which the document in question was passed through the Clearing-House.

IX. All documents returned unpaid shall have a written answer appended, stating the cause of dishonour.

X. The banks agree to dispense with the endorsement of country exchange vouchers, passed through the clearing.

XI. The Bank of Scotland and the Royal Bank of Scotland agree to undertake the settlement of the clearings each alternate month. On Monday and Thursday, the balances shall be included in the general settlement of the exchange and clearing, the odd shillings and pence being accounted for in cash. On other days, the settling bank will receive from those banks which are debtors on the settlement, in which shall be included the balance of the note exchange, and give to those which are creditors, exchange vouchers for the respective balances, including the odd shillings and pence, within one hour after the closing of the Clearing-House, and these vouchers shall be brought into the next clearing, and shall bear interest from the date of delivery till the date of that clearing at the fixed rate of 2 per cent., which shall be included in the voucher given for the balance.

The rules for conducting the general settlement of the exchange and clearing are laid down separately.

Neither the Bank of Scotland nor the Royal Bank of Scotland shall incur any responsibility whatever in respect of these transactions.

XII. All expenses connected with the Clearing-House shall be borne by the banks in equal proportions and shall be paid by them half-yearly.

For the BANK OF SCOTLAND, James A. Wenley, Treasurer.

For the ROYAL BANK OF SCOTLAND, J. S. Fleming, Cashier.

For the BRITISH LINEN COMPANY, James Syme, Manager.

For the COMMERCIAL BANK OF SCOTLAND, A. K. Mackenzie, Manager.

For the NATIONAL BANK OF SCOTLAND, W. J. Duncan, Manager.

For the UNION BANK OF SCOTLAND, Charles Gairdner, General Manager.

For the CLYDESDALE BANKING COMPANY, George Readman, General Manager.

EDINBURGH, March, 1880.

SECTION XXXIV.

THE IRISH BANKS.

THI

HE last Act of Parliament for regulating banks in

Ireland is the 8 & 9 Vict. cap. 37, passed in the year 1845.

This Act recites that by the Act 21 & 22 Geo. III. an Act was passed for establishing a bank by the name of the Governor and Company of the Bank of Ireland ; and which prohibited any other company consisting of more than six persons to issue notes payable on demand or within

any time less than six months. That by the Act 1 and 2 Geo. IV. cap. 72, other companies consisting of more than six partners might issue notes payable on demand, at a greater distance than fifty miles (Irish) from Dublin. And that by 6 Geo. IV. cap. 42, and 1 Wm. IV. cap. 32, such co-partnerships of bankers might transact certain matters of business by agents in Dublin, including the payment though not the issue of notes.

The Act farther recites that the Bank of Ireland had at various times advanced for the public service the several sums of £600,000, £500,000, and £1,250,000, late Irish currency; and that by the 48 Geo. III. cap. 103, the charter of the Bank of Ireland was extended to the 1st day of January, 1837—upon twelve months' notice to be published in the “Dublin Gazette," and after the repayment of the above-mentioned sums. And that by the Act 1 and 2 Geo. IV. cap. 72, the Bank of Ireland had agreed to advance a further sum of £500,000, and the bank was em

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