Retrieved from “www.archive.org the banks alternate weekly, at Jacksonville, 111., monthly, and at Bay City, Mich., once in two months. At Lowell, Mass., a clearing-bank is chosen at each annual meeting of the association. Each clearing-house determines for itself the time when its daily exchanges shall be made, and as practically the only criterion in selecting an hour is the convenience u - i- o . 5- vt- oo Tt 5 3 O If o %3C** o kl o u. CLEARING-HOUSES The usual resolutions were passed by the Clearing- house Association, authorizing the issue of certificates, and on September 22d the first issue was made. The amount was fixed at the outset at ten million dollars, which, with the announcement that the government would purchase the same

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