Retrieved from “www.archive.org ceive thereafter a proper consideration for the amount advanced. Subsequent drafts were made upon the members, in proportion to their capital, as in the previous instance, for the purpose of defraying the cost of im- provements, including the furniture and fixtures of the THE NEW YORK CLEARING-HOUSE 137 new building. The drafts in total amounted to three- tenths of one per cent, of the respective capitals of the banks. In return for the amounts so advanced certifi- cates were given as before. The bank building was properly altered and equipped for the transactions of the clearing-house, and on June 17, 1875, the premises were occupied. Here the clear- ing-house remained for the next twenty-one years. At a meeting of the association,

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