Retrieved from “www.archive.org at the present time only nineteen members, the vicissitudes of the banking business in Chicago in the interval accounting for the increase and subsequent decrease. The membership, as at present made up, embraces thirteen national banks, four trust 263 264 CLEARING-HOUSES companies, one State bank, and the Chicago branch of the Bank of Montreal. The requirements for membership at the outset were not so rigid as they are at present. No minimum limit was placed upon the capital necessary for membership. As a fact, many of the members had but small capital and limited experience. Further, at that stage of the development of the clearing-system, experience did not demand what has since been found to be very

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