NOTE ISSUES IN THE UNITED KINGDOM.

MONTHLY AVERAGES.

In £'s sterling, 000 omitted, thus :-£1,000 £1,000,000.

The following Table shows the gross amount of notes issued in the United Kingdom on the 3rd September, 1898 :

ENGLAND Bank of England, upon Security
Upon gold bullion and coin

£16,800,000
32,749,370

SCOTLAND-10 Joint Stock Banks upon their own credit...
Upon gold and silver coin

IRELAND- -6 Joint Stock Banks upon their own credit...
Upon gold and silver coin

2,602,718†

5,141,722

7,744,440

4,192,579†

1,670,002

5,862,581

Of the total amount of £49,549,370 issued by the Bank of England from the Issue Department £21,613,975 was held by the Bank of England in the Banking Department. Deducting this from the total issue, it leaves £42,811,432 as the actual circulation of notes in the United Kingdom on the above date.

It will be seen from these figures that the issues upon credit of certain Scotch and Irish Banks are below their limits authorised by the Acts of 1845.

Stock

Exchange

Settling
Days.

550

LONDON BANKERS' CLEARING HOUSE.-WEEKLY RETURNS.

In £'s sterling, 000 omitted, thus :-£1,000—£1,000,000.

December.

Settling
Days.
3

Settling
Days.

4ths of the Month.

Stock Exchange

each Week.

Settling
Daya.

551

2

G INDEX. *

PAGE

AMALGAMATIONS (Bank).

Capital and Counties Bank, Limited, and Glamorganshire
Banking Company, Limited

and Messrs. I. & I. C. Wright

London and Midland Bank, Limited, and City Bank, Limited.
and Oldham Joint Stock Bank, Limited.

London and Northern Bank, Limited, and Leeds Joint Stock
Bank, Limited

523

523

465

523

523

Parrs Bank, Limited, and Derby and Derbyshire Bank, Limited
Presidents remarks as to

523

AMERICA. See United States.

ANNUAL GENERAL MEETING (Institute of Bankers), May, 1898.
Report of Council and proceedings

ASHBY, THOMAS, & COMPANY. Parr's Bank, Limited r. (Legal

Decision)

AUSTRALASIA. Bank Returns.

Summaries

BANK AMALGAMATIONS. See Amalgamations.

BANK (The Work of a). By H. T. Easton. Notice

413

BANK OF AFRICA, LIMITED. Simpson, Cullingford & Company r.

Summary, November, 1897-October, 1898

BANK OF FRANCE. Weekly Returns. See Weekly Returns.
Summary, November, 1897-October, 1898

BANKER. Authority under general and special Powers of Attorney
Is not bound to pay open cheques by post

Security to be taken from Treasurer; Heading of Treasurer's Account

Overdrafts; Changes in office; Concluding remarks

Forms for Treasurer's Accounts

Discussion on Mr. Naldrett's paper.

Williams (Robert, M.P.).

Variety of regulations for Local Government; Duties of Treasurer
as to receiving money; Best Treasurer for Local Authorities; No
duties prescribed for Treasurers of bodies other than Boards of
Guardians

215-216

BANKERS AS TREASURERS OF LOCAL AUTHORITIES-continued.

Gallaher (G. R.):

Value of the paper; Orders for payment of a Local Authority are
not cheques, therefore crossing is of no effect; Advantage if a
bank could be appointed Treasurer; Overdraft

Murdoch (C. T., M.P.).

Duties of Treasurers should be defined by Act of Parliament; Import-
ance of drafts upon a Treasurer not being cheques; Advantage
of Treasurer being a banker

Steele (F. E.).

Importance of drafts upon a Treasurer not being cheques: Which
officer of a bank most competent to act as Treasurer; Advantage
of the bank being Treasurer; General usefulness of the paper

Thomas (L. E.).

PAGE

216-218

218-219

219-220

Excellent choice of subject; Question as to what is sufficient guide
to the Treasurer; Is there any penalty on the Treasurer for not
reporting a deficiency to the Commissioners?

220-221

Naldrett (E. J.). In reply.

Mode of raising funds by authorities; Difficulty of deciding whether
drafts on a Treasurer are cheques or not; Illustrations; Local
Authorities should pay their Treasurers a fixed sum; Answers to
questions by Mr. Murdoch, Mr. Steele and Mr. Thomas

221-223

Williams (Robert, M.P.).

Request to Mr. Naldrett to consider whether drafts on a Treasurer
are cheques or not; Few "bankers" now left.

BANKING IN 1837 AND IN 1897 IN THE UNITED KINGDOM,
INDIA AND THE COLONIES-A COMPARISON AND A CONTRAST.
(First Prize Essay, 1897-98). By Jno. Freeman Dunn.

Commencement of the Joint Stock Movement; ENGLAND, Private Banks
and Joint Stock Banks, Limited Liability, Amalgamation and Branch
Extension, Note Issue, Use of Cheques, Clearing House, Bills of
Exchange, Reserves, Gratuitous Work, Banking Unity, Savings Banks;
SCOTLAND, Note Issue. Cash Credits, Assets and Liabilities, Failures,
Scotch Banks in London; IRELAND; AUSTRALASIA, Documentary
Credits and Cable Remittances, Use of Cheques, Influence of Scotland,
Deposits and the Crisis of 1893; CANADA; INDIA, Hoarding, Agency
Houses, Presidency Banks, Anglo-Indian Banks, Currency; Conclusion.

BANKRUPTCY

Report of Inspector-General for 1897

BILLS OF EXCHANGE AND CHEQUES, Mr. Barlow's Lectures on.
Examination Paper and Results
BILLS OF EXCHANGE, THE BRITISH AND FOREIGN LAW OF. By

E. J. Schuster.

LECTURE I.-Introduction; Enumeration and Classification of Bills of Ex-
change Codes; Conflict of Laws; Distinction between Bills of Exchange
and other Documents; Essential Parts of a Bill of Exchange; Conse-
quences of irregularities in respect of the essential parts of a Bill; Forms
of Bills of Exchange; Capacity; Distance of place of issue from place of
payment
LECTURE II.-Negotiability; Transfer of Bills by Acts of Parties; Transfer
of Bills by Act of Law; Liability of Endorsers and modes of excluding
liability; Right to present for Acceptance; Duty to present for Ac-
ceptance: Mode of presentment for Acceptance; Time for deciding allowed
to Drawee; Form of Acceptance; Qualified Acceptances; Cancellation
of Acceptance; Notice of dishonour and protest in case of non-acceptance;
Acceptance for honour supra protest; "Aval;" Liability of Acceptor

223-224

373-406

526

285

19-36

55-73