New York Clearing House Association

The official title of the organization under which the a ociated banks of New York conduct daily clearings. The a ociation was organized September 13, 1853, and clearings were begun on October 11 in the basement of No. 14; Wall street. The first day’s clearings amounted to $22,648,- 109.87 and the balances to $1,290,572.38. ‘The number of banks making clearings was 52. The first manager was George D. Lyman, who had been a teller in the Bank of North America. The a ociation now owns and makes its clearings (or exchanges) in a handsome white marble building Nos. 79 to 83 Cedar street. For an explanation of the method of making clearings (or exchanges) and settling balances see Clearing house of the a ociated banks of New York. - New York Produce Exchange. The place in New York where dealings in grain, provisions, etc., are extensively conducted. 386