Volume 2 - ElectricCanadian.com

THE BRANCH CLEARINGS SYSTEM 539entries were cleared be increased, but the volume of entriespassing through any one account would be decreased to thepoint where it could quite easily be handled.Accordingly, it was announced that on June 1, 1914, 1three new subsidiary branch clearings districts would becreated, with a clearing department in each. The new districtswere as follows:British Columbia: To include all branches in the provinceof British Columbia and on the western coast of theUnited States, the clearing office to be at Vancouver.Central West: To include branches in the provincesof Manitoba, Saskatchewan and Alberta, exceptGrouard, Lake Saskatoon and Peace River Crossing,the clearing office to be at Winnipeg.Maritime Provinces : To include branches in the provincesof New Brunswick, Nova Scotia, Prince EdwardIsland and Newfoundland, the clearing office to beatHalifax.Every branch in these three districts was instructed toopen a new account in its general ledger, termed DistrictBranch Clearings Account, and to pass through this all entriesfor other branches in its own district. Entries for branchesoutside the home district were to be passed through the oldBranch Clearings Account as formerly.The arrangements thus outlined, it will be observed, didnot affect branches in Ontario, Quebec and the Yukon, thethree larger foreign offices, London, New York and Mexico,or the branches specifically excepted above. 2 These continuedto pass allentries through one Branch Clearings Account, asformerly, this being now denominated General Branch ClearingsAccount. Instructions were also given that in future allsettlement drafts in favour of banks should be credited or'See Head Office circular No. 2497, dated May 8. 1914.'Steps had already been taken on August 1, 1913, to have all cheques drawn onDawson and Whitehorse cleared through the Vancouver branch, and cheques onGrouard, Lake Saskatoon and Peace River Crossing, through the Edmonton branch.