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Rules

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RULES.

The Metropolitan Clearing to open at 9 a.m. on ordinary days and 8.45 a.m. on Saturdays. Drafts on the branches of the clearing banks and of the London and Pro vincial Bank included in the Metropolitan Clearing area to be received not later than 10.30 a.m. (Greenwich time) on ordinary days and 9.50 a.m. (Greenwich time) on Saturdays.

It is requested that the first delivery be made immediately on the opening of busi ness, subsequent deliveries at frequent in tervals, and that every effort be made to avoid heavy deliveries at the last moment.

All the in clearing to be entered at the Clearing House.

The agreement of charges to take place as soon as possible after the in ' side has been entered.

The drafts are to be sent to the head offices when entered and not to be detained at the Clearing House until the charges are agreed.

Marked articles and missing cheques are to be looked up on the ' out ' side. If a difference is for t;I,000 and upwards the particulars, if available, to be given to the paying bank the same day and every effort is to be made to settle the difference forth with If particulars are not available the settling of the error may be held over to the following day.

All differences in the Metropolitan Clearing to be adjusted as quickly as possible through the Town Clearing.

Returns in the Metropolitan Clearing must be delivered at the Clearing House through the afternoon Town Clearing at the earliest possible moment, but not later than 4.5 p.m. on ordinary days and 1.30 p.m. on Saturdays.

It will be permissible for a bank to pay any of its Metropolitan branches under protest on Saturdays, when necessary.

Bills, included in remittances to branches, that avail themselves of the protest rule, if dishonoured and received too late to return to the collecting banker must be protected by the returning banker.

Dishonoured cheques, from a branch paid under protest, received by the head office or agent too late for delivery at the Clearing House or to the head office of the presenting bank must be returned by post direct to the crossing bank or branch and debited at the Clearing House on the next business day by slip as used in the Country Cheque Clearing.

'Wrongly delivered drafts are to be ad justed as far as possible before agreeing the charges. No alteration is to be made in the total after agreement.

Drafts wrongly delivered in the Metro politan Clearing but payable through the Town Clearing at the bank to which they have been presented, if discovered too late for adjustment at the Clearing House, may be transferred internally without reference to the Clearing House.

Drafts wrongly delivered payable through the Metropolitan Clearing and discovered too late for adjustment in the Clearing House are to be debited on sheets provided for the purpose, the cheques to be placed in en velopes addressed to the paying bank and delivered to the inspectors at the Clearing House as quickly as possible, but not later than 10.45 a.m. (Greenwich time) on ordinary

days and 10 o'clock (Greenwich time) on Saturdays.

The inspectors will use all diligence in despatching these envelopes in the hope of catching the collecting messengers before they leave the head offices. It is not intended that these messengers should be delayed on account of this delivery, and should they have left the head offices with the charges the wrongly delivered articles shall be returned to the presenting banker.

Drafts wrongly delivered in the Metro politan Clearing payable in the Country Cheque Clearing discovered too late for adjustment in the Clearing House to be debited to the crossing banker on the sheets above referred to. These cheques to be sent to the inspectors of the Clearing House in envelopes addressed to the presenting banker not later than 10.45 a.m. on ordinary days and 10 o'clock on Saturdays.

All wrongly delivered drafts received in the Clearing House envelopes to he entered by the banks accepting on the credit side of the lists provided. These lists to be handed to the inspectors not later than 2.30 o'clock on ordinary days and 1.30 o'clock on Saturdays. The totals of debit and credit sides of these sheets to be entered on Town balance sheet in the place provided, and agreed with the inspectors before closing.

Machines will be allotted for use in the Metropolitan Clearing under the following conditions : The in ' clearing to be entered as quickly as possible.

Agreement of charges is not to be at tempted at the expense of entering.

The machines are to be surrendered without delay after entering is finished, and adjournment to the Country Cheque Balance Room or Ground Floor for the purpose of agreeing is requested.

Banks wishing to use the Clearing House machines for listing to their branches must surrender these machines not later than 10.45 a.m. on ordinary days and 10 o'clock on Saturdays.

The totals of each side, viz. : ' out ' and ' in ' of the Metropolitan Clearing are to be added to the amount of the Morning Town Clearing in all cases, and it is the duty of the Town clearers to see this is done before calling their final totals at mid-day.

The general rules of the Clearing House shall be observed in so far as they apply.

As to payments under protest in con nection with the Country Clearing. see