LONCLEAR #408 THE LONDON CLEARING HOUSE

Retrieved from "http://www.archive.org/stream/clearinghousesth00cannuoft/clearinghousesth00cannuoft_djvu.txt" thoroughly examines their condition and standing, and makes a report to the association. The applicant then may be admitted on receiving the affirmative vote of three-fourths of the members of the association. The members are required to pay an admission fee of one thousand dollars, and to assent to the Articles of Incor- poration and By-laws, thus being put upon the same footing as the original members. The By-laws provide that no new members shall be admitted except banks having their principal office located in the city of Chi- cago, organized under the laws of the United States or under the laws of the State of Illinois, and having done business therein, with their subscribed capital stock fully paid in, for a period of at least six