Readings in Money And Banking
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Clearing houses located in New England settle, as a rule, with drafts on Boston or New York, or both. Clearing houses in the vicinity of Philadelphia usually settle with drafts on that city or on New York, and those located in that part of the country lying east of the Mississippi River settle more or less by draft on New York or Chicago. Settlement is also some- times made by draft on some of the larger cities, such as Baltimore, Washington, Savannah, Kansas City, Detroit, Omaha, and San Franc...isco.
^ RATIO OF BALANCES TO CLEARINGS The ratio of balances to clearings depends partly upon the number of banks, but much more upon the amount and char- acter of their business and upon their relations one to another. This is illustrated by figures which have just been collected, covering the transactions for the year 1908. At Pittsburg, with 20 members and 128 non-members clearing through mem- bers, the balances were 16. 5 per cent, of the clearings; at Buffalo, with 11 members and 7 non-members, 12 per cent.
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You can find similar books in the "Read Also" column, or choose other free books by Chester Arthur Phillips to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Clearing houses located in New England settle, as a rule, with drafts on Boston or New York, or both. Clearing houses in the vicinity of Philadelphia usually settle with drafts on that city or on New York, and those located in that part of the country lying east of the Mississippi River settle more or less by draft on New York or Chicago. Settlement is also some- times made by draft on some of the larger cities, such as Baltimore, Washington, Savannah, Kansas City, Detroit, Omaha, and San Franc...isco.
^ RATIO OF BALANCES TO CLEARINGS The ratio of balances to clearings depends partly upon the number of banks, but much more upon the amount and char- acter of their business and upon their relations one to another. This is illustrated by figures which have just been collected, covering the transactions for the year 1908. At Pittsburg, with 20 members and 128 non-members clearing through mem- bers, the balances were 16. 5 per cent, of the clearings; at Buffalo, with 11 members and 7 non-members, 12 per cent.
What to read after Readings in Money And Banking?
You can find similar books in the "Read Also" column, or choose other free books by Chester Arthur Phillips to read onlineMoreLess
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