Encyclopedia Dubuque
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DUBUQUE CLEARING HOUSE ASSOCIATION: Difference between revisions
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DUBUQUE CLEARING HOUSE ASSOCIATION. The Dubuque Clearing House Association was organized April | DUBUQUE CLEARING HOUSE ASSOCIATION. The Dubuque Clearing House Association was organized April | ||
16, 1891, as a local bank organization that established rules for the operations of member banks. The organization at first consisted of eight members: First National, Second National, Dubuque National, Dubuque County, Iowa Trust & Savings, German Trust & Savings, German, and Citizens' State. The meetings were held at the office of the Dubuque National. The first officers were : P. J. Lee, president ; E. W. Duncan, vice-president; James Harragan, manager. | 16, 1891, as a local bank organization that established rules for the operations of member banks. The organization at first consisted of eight members: First National, Second National, Dubuque National, Dubuque County, Iowa Trust & Savings, German Trust & Savings, German, and Citizens' State. The meetings were held at the office of the Dubuque National. The first officers were : P. J. Lee, president ; E. W. Duncan, vice-president; James Harragan, manager. | ||
On October 28, 1907 the following notice appeared in the ''Telegraph-Herald'': | |||
[[Image:1907a.png|center|thumb|350px|Photo courtesy: Telegraph Herald]] | |||
The action taken locally and by clearing houses in New York and Chicago limited banks but protected investors against removing cash from circulation thereby harming business. The action was totally supported by the newspaper which claimed such action protected depositors. | |||
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Revision as of 04:58, 3 December 2017
DUBUQUE CLEARING HOUSE ASSOCIATION. The Dubuque Clearing House Association was organized April 16, 1891, as a local bank organization that established rules for the operations of member banks. The organization at first consisted of eight members: First National, Second National, Dubuque National, Dubuque County, Iowa Trust & Savings, German Trust & Savings, German, and Citizens' State. The meetings were held at the office of the Dubuque National. The first officers were : P. J. Lee, president ; E. W. Duncan, vice-president; James Harragan, manager.
On October 28, 1907 the following notice appeared in the Telegraph-Herald:
The action taken locally and by clearing houses in New York and Chicago limited banks but protected investors against removing cash from circulation thereby harming business. The action was totally supported by the newspaper which claimed such action protected depositors.
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Source:
Oldt, Franklin T. History of Dubuque County, Iowa. http://www.ebooksread.com/authors-eng/franklin-t-oldt/history-of-dubuque-county-iowa-being-a-general-survey-of-dubuque-county-histor-tdl/page-23-history-of-dubuque-county-iowa-being-a-general-survey-of-dubuque-county-histor-tdl.shtml