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 1 
 
 2 
 
 3 
 
 4 
 
 5 
 
 6 
 
f 
 
 l-». • 
 
 I 
 
 I 
 
'5- 
 
 A C^ 
 
 
 
 RULES AND REGUI^TIONS, 
 
 t}-^\4.-b 
 
 
 ''^^■^■■ 
 
 
 .1 
 
 1 
 
 <*i 
 
 FOB THE 
 
 
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 OP» 
 
 
 
 tnetics^ 
 
 ^ a/' 
 
 Br 
 
 ,1 
 
 For THE Use of the 
 
 ^" hoedtMredors and Officers mily. 
 
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 <^/^«^4r. 
 
 7 
 
 IIULES AND REGULATIONS 
 
 FOR THK 
 
 :ii3 m i\, MF © IS )%.^m'K'§. 
 
 cO 
 
 OF 
 
 THE BANK 
 
 OF 
 
 BRITISH NORTH AMERICA. 
 
 For the Use oe the 
 
 Local Dircdm^s and Officers oyily. 
 
 PRINTED BY THOMAS & SONS, 20, CORNHILL. 
 
 1837. 
 
 Ik'. 
 
'^^ '^y INDEX, 
 
 JUM2 1935 
 
 Local Directors 3 
 
 Local Board 4 
 
 Weekly Duties 7 
 
 Daily Duties J] 
 
 Inspector o 
 
 Accounting Department 10 
 
 Conduct op Officers ....12 
 
 Registry of Shares ik 
 
 Notes lo 
 
 Cash Department jo 
 
 Terms of Business : — 
 
 Deposit Receipts 21 
 
 Cash Accounts 22 
 
 Cash Credit Accounts 22 
 
 Discounts 23 
 
 Personal Accounts 24 
 
 Transactions between Branches 24 
 
 Correspondence o« 
 
 Periodical Returns op 
 
 Weekly Returns 27 
 
 ,' • . Half-yearly Returns <2\\ 
 
 I 
 
 4 
 
 I 
 
ft 
 
 IIULES AND REGULAT[()NS. 
 
 Pace 
 . 3 
 
 . 4 
 
 . 7 
 
 . 8 
 
 . 9 
 
 . 10 
 
 . ]2 
 
 15 
 
 18 
 
 19 
 
 21 
 
 22 
 
 22 
 
 23 
 
 24 
 
 24 
 
 25 
 
 26 
 
 27 
 
 28 
 
 I 
 
 LOCAL DIRECTORS. 
 
 1. Each Local Director to posdess in his own right 
 ten shares. 
 
 2. To be appointed annually by the London Court. 
 
 3. Remuneration to be fixed by the London Court, to 
 be divided according to attendances. 
 
 4. In case of vacancies, if the Inspector, or Directors 
 and Manager, shall deem it necessary, the Local Board by 
 their unanimous vote, and with the concurrence of the 
 Inspector, to fill the same, such appointment being sub- 
 ject to the approval of the Court. 
 
 5. The Inspector to have the power of increasing the 
 number of the Directors at the Locfd Board or Boards, 
 by calling upon the Local Board to elect another Director, 
 in manner similar to Rule No. 4 ; but remuneration not 
 to be increased. 
 
 6. In case of misconduct of any Local Director, or 
 other reasonable cause, the remaining Local Directors and 
 the Manager, by their unanimous vote, and with the 
 concurrence of the Inspector, to have power to suspend 
 
 a2 
 
 i 
 
( 4 ) 
 
 juch I oeal Director until the pleasure of the r.on.I,,,, 
 ^-'Ourt be known. 
 
 7. In case of the insolvency of a Local Director, such 
 uZT """'"'" '""' '" ^^ " ^^'•"^"' "*' ""^^ 
 
 8. In all matters of business, Local Directors to he 
 subject to the same rules as other customers of the Bank 
 No Local Director to be present at any discussion in which 
 he IS pecuniarily interested. 
 
 9. No two Partners to be at one time Members of the 
 Local Board ; b„t in ease of the temporary absence of a 
 
 the Board (of winch an entry shall be ma.Ic in the Minutes) 
 to act as his substitute. 
 
 • 
 
 i 
 
 LOCAL BOARD. 
 
 tJ\ ,T'" /^''"•■'' "'■•^""'•^ »n<l Manager constitute the 
 
 the Hanks affiws, and the superintendence of the other 
 Oftcers at .he,r respective estaUishments ; and no Local 
 Board can be formed without the presence of the Manager 
 or the person acting for him, as hereafter provided. 
 
 S. For the performance of their duties, the Local 
 I^^ectors shall meet, as hereinafter stated, „d at „d 
 
 the Bank Ofhce, at such stated hour as the general arrange- 
 
 i 
 
the r.ondon 
 
 rector, such 
 fiber of the 
 
 ctors to he 
 ^' tlie 13ank. 
 un in wliich 
 
 bers of the 
 )sence of a 
 robation of 
 Minutes), 
 
 titute t/ie 
 tration of 
 the other 
 no Local 
 Vlanager, 
 d. 
 
 le Local 
 
 at such 
 
 quire, at 
 
 arrange- 
 
 i 
 
 I 
 
 i 
 
 (5) 
 
 ment of the business, and the custom of the place shall 
 point out as most convenient. Any two Local Directors 
 and the Manager shall be considered a quorum at such 
 stated IMeetings, but at any Branch where there shall be 
 only one or two Local Directors, the Manager and one 
 Local Director shall constitute a quorum. 
 
 8. In case of extraordinary meetings being at any 
 time necessary, a special summons shall be sent by the 
 Manager to each of the Local Directors ; and on such 
 occasions a majority of the Local Board, including the 
 Manager, shall be necessary to form a quorum. 
 
 4. All questions, in which there may arise a difference 
 of opinion at the Local Board, shall be decided by a 
 majority of those present; of which majority the Manager 
 must constitute one, in order to carry the question in the 
 affirmative. In case the members of the Local Board 
 l)rcsent should divide equally, the question is to be con- 
 sidered lost. In all cases where the Manager differs in 
 opinion from the majority, such majority shall, if they 
 think fit, direct such question to be immediately referred 
 for decision to the Inspector. 
 
 5. Regular minutes shall be kept of all the proceedings 
 of the Local Board, which shall be signed by one or more 
 of the Local Directors, and in which there shall be duly 
 recorded, inter alia — 
 
 1st. The names of the Members present at each meeting. 
 
 2d. The examination of the Cash Book and Vouchers 
 daily. 
 
 3d. The examination of the cash on hand at the close of 
 
each week, including the TclkVs Uulance and the 
 unissuable notes. 
 
 4tli. The Transfer of Shares, or approval of proposed 
 Transfers. 
 
 5th. The number and amount of Bills presenter for 
 discount, approved and rejected. 
 
 0th. All applications for temporary advances to individuals 
 or Companies on the lodgment of Bills or other Secu- 
 riti'.'s, describing such Bills or Securities. 
 
 b". All matters which may become the subject of par- 
 ticular procedure are to be inserted under appropriate 
 heads m the Procedure Book, which will thus form an 
 Index to the Minutes regarding such affairs. 
 
 7. When the Branch shall be visited by any Officer 
 specially sent from the Court, or from the Inspector, the 
 Local Directors and Manager shall afford to such person 
 every facility for making such examination of the affairs 
 of the Branch as may be the object of such visit. 
 
 8. The Local Board shall endeavour to establish and 
 maintain a good understanding with the Governor and 
 Public Departments, on subjects connected with the Bank. 
 
 9. In case the Governor, or either Branch of the 
 Legislature, should at any time require information, the 
 Local Board are authorized to give it at their discretion. 
 
 30. The Local Board shall have the power to direct 
 actions or suits to be brought, defended, or discontinued, 
 and to refer the same to arbitration ; also to appoint persons 
 to prove debts due to the Company from Bankrupts or 
 
 f 
 
 4 
 
 I 
 
(7) 
 
 net' and the 
 
 of projiosed 
 
 'csentci4 for 
 
 individuals 
 other Sccu- 
 
 jcct of par- 
 appropriate 
 LIS form an 
 
 any Officer 
 
 pector, the 
 
 uch person 
 
 the affairs 
 
 it. 
 
 ablish and 
 ernor and 
 the Bank. 
 
 ch of the 
 lation, the 
 scretion. 
 
 ' to direct 
 continued, 
 it persons 
 krupts or 
 
 i 
 I 
 
 I 
 
 I 
 
 i 
 
 Insolvents, and to employ Solicitors and Counsel for this 
 purpose ; but not to make any permanent appointment of 
 Law Oliice-'H to the Company without authority lorn the 
 Court at London. 
 
 WEEKLY DUTIES. 
 
 1. The Local IJoard shall meet not fewer than two 
 days in each week, for the performance of the following 
 duties— 
 
 1st. To consider and dispose of all Bills presented for 
 discount, and all applications for advances of any 
 kind. 
 
 2d. To examine and certify the weekly state of transac- 
 tions, and to see the same regularly transmitted to the 
 London Office, and to the Inspector. 
 
 ^d. To review and report, period) caiiy, (in the i^ppendix 
 attached to the Weekly Returns) on past-due Bills, 
 and on the security and utility of advances of any 
 kind, which may have been granted. 
 
 4th. On a convenient day of each week to review the 
 Transactions of the preceding week ; to go over the 
 Discount Ledger, and consider the amount of Bills 
 discounted to each party, and each party's liability, 
 whether as Promiser, or Endorser ; and to make such 
 resolutions as shall appear expedient for limiting or 
 extending the amounts, according to circumstances. 
 
 5th. To examine, where necessary, the titles of parties 
 claiming repayment of deposits. 
 
 i 
 
 i 
 
(8 ) 
 
 «th To see canceUed, to count and seal up, and to 
 deposit in the Treasury, all unissuable Notes of the 
 Bank. 
 
 ith To see the Accounts and Books duly balanced at 
 the period of the half-yearly balances; to see the 
 Balance Books duly made up and forwarded ; to insert 
 fn the Appendix attached thereto special reports on 
 past-due Bills, Cash Credit Accounts, and all advances 
 of any kind; and also their opinions as to the security 
 and utility of all discounts, advances, or other opera- 
 tions of the Bank whatsoever. 
 
 8th. Generally to watch over and attend to the interests 
 of the Branch, both as regards its internal regulation 
 and the extension of its influence and connexions, in 
 the district in which it is situated. 
 
 2. One or more Local Directors to attend either on 
 the evening of Saturday, after the public business is over 
 or on Monday morning, before it begins, to examine and 
 certify the whole cash on hand at the Branch at the 
 close of each week. 
 
 i 
 
 DAILY DUTIES. 
 
 sMl attend each morning, fo performing the following 
 duties with the Manager— 
 
 ]st To deliver from the Treasury to the Manager suf- 
 ficient casn for the exigencies of the day. 
 
 
( 9 ) 
 
 up, and to 
 Notes of the 
 
 balanced at 
 
 to see the 
 
 ed ; to insert 
 
 1 reports on 
 
 all advances 
 
 the security 
 other opera- 
 he interests 
 
 regulation, 
 inexions, in 
 
 i either on 
 ess is over, 
 •iamine and 
 ich at the 
 
 1 Director 
 following 
 
 ^awr siif- 
 
 2d. To see that the Cash Book for the preceding day 
 
 has been summed, and that the balance agrees with 
 
 1 the cash on hand. To examine the entries of receipts 
 
 and payments therein, and to compare them with the 
 
 vouchers. 
 
 3d. To see that the Abstract of Transactions for the 
 Weekly Return is daily written up. 
 
 INSPECTOR. 
 
 1. It shall be the duty of the Inspector to visit, as 
 often f ? he sees fit, the various Establishments of the 
 Company, and to enquire into and investigate all matters 
 whatsoever connected with the transactions or interests of 
 each Branch. He shall communicate to the Court of 
 Directors in London the result of every such inspection ; 
 stating generally, how the business is conducted, with the 
 nature of, and reasons for, any alterations he may have 
 found it necessary to make. 
 
 2. During the Inspector's visit at any Branch, he 
 shall assume such of the powers of the Manager as he 
 shall think fit ; and shall have authority to investigate all 
 the books and transactions of the Branch. 
 
 3. At any Branch where there may be only one Local 
 Director, the Inspector shall have full power to suspend 
 any of the Officers, or to direct any alteration to be made 
 in the mode or terms of conducting the business of the 
 
( 10 ) 
 
 Branch ; and it shall be the duty of the Local Board at 
 such Branch to comply with such suspensions or directions, 
 until the same shall have been rescinded by the Court of 
 Directors in London, on an appeal made to them. 
 
 4. If there shall be more than one Local Director at 
 the Branch, the Inspector, with the concurrence of a 
 majority of the Local Board, shaU have the like power to 
 make any alteration in the mode of conducting the busi- 
 ness, or to suspend any of the Officers. 
 
 5. The Inspector shall have power to remove any of 
 the Officers from one Branch to another, when such 
 removal shaU appear beneficial to the general interests 
 of the Company— the person so removed not suffering 
 any diminution of salary; but if a Manager be so 
 removed, he shall not be placed in an office inferior to 
 that of Manager. 
 
 6. On visiting any of the Branches, it shall be the 
 first duty of the Inspector to examine and count the 
 Cash, and satisfy himself of the complete security of 
 every Safe, advising the Court thereof. 
 
 7. It shall be the duty of the Inspector to see that the 
 regulations for the custody of the Cash are strictly and 
 regularly attended to at all the Estabhshments, and that 
 the Local Directors and Manager keep in constant opera- 
 tion the mutual checks upon each other. 
 
 8. In addition to the foregoing instructions, it shall be 
 the duty of the Inspector to keep a constant and vigilant 
 supermtendence over the transactions of every Branch 
 and the manner in which every officer discharges the 
 
 W'--,,..-, 
 
cal Board at 
 )r directions, 
 the Court of 
 lem. 
 
 Director at 
 rrence of a 
 ke power to 
 g the busi- 
 
 nove any of 
 when such 
 al interests 
 )t suffering 
 ger be so 
 inferior to 
 
 lall be the 
 count the 
 ecurity of 
 
 :^e that the 
 trictly and 
 I, and that 
 ant opera- 
 it shall be 
 id vigilant 
 ^ Branch, 
 arges the 
 
 ( 11 ) 
 
 duties assigned to him. For this purpose, the Local 
 Board shall see that the Inspector is, constantly and 
 regularly, informed of every thing that occurs at the 
 Branch, or that may in any way affect the interests or 
 prosperity of the Company. 
 
 ACCOUNTING DEPARTMENT. 
 
 The duties of the iVccountant are, generally, as follow :— 
 
 1. To keep the whole of the Books, and to be answer- 
 able for every entry in the Waste Book being posted 
 through the proper books, and to the proper accounts. 
 
 2. To make out the returns and abstracts, and indi- 
 vidual accounts. 
 
 3. To countersign all Drafts and Letters of Credit, 
 all Current and Deposit Receipts, and entries in Pass 
 Books, and to be answerable for the correctness of all 
 sums in Bills, Receipts, and other Vouchers granted at 
 the office. 
 
 4. To get (in all cases where it is possible) the signa- 
 ture of each party to whom a Deposit Receipt is granted, 
 and to compare the signatures when the Receipt is pre- 
 sented for payment. 
 
 5. To see that no partial payment is made on any 
 Deposit Receipt, nor any payment made on any Deposit 
 Account, without production and delivery of the Receipt. 
 
 i 
 
•1 
 
 u , 
 
 ( 12 ) 
 
 0. To make the calculations of Interest and Discount, 
 and generally, to give every assistance which the business 
 of his department will admit of, and which the Manager 
 may require. 
 
 7. Should the Teller have leisure from the duties of 
 his own department, the Accountant may employ him in 
 posting the Ledgers, or other general duties of the office ; 
 but the Teller is, on no account, to write any thing into the 
 Check Ledger or Waste Book, these books forming sepa- 
 rate checks upon the Teller's transactions. 
 
 f 
 
 ON THE COxNDUCT OF OFFICERS 
 GENERALLY. 
 
 1. It is expected of every officer that his conduct, 
 whether in or out of the office, shall be such as to ensure 
 the confidence of the Directors, and the respect of his bro- 
 ther officers, and of the Public. 
 
 2. It should be the first care of the officers subordi- 
 nate to the Manager, to acquire a complete knowledge of 
 the duties of their respective departments, and their con- 
 stant study, to discharge these duties in the most perfect 
 manner. 
 
 S. To the Manager the Directors not only look for 
 the efficient discharge of the duties more immediately 
 connected with his own department, but there is expected 
 from him a constant and vigilant superintendence over 
 every part of the business. 
 
 n 
 
 '^^ 
 
( 13 ) 
 
 Discount, 
 
 ; business 
 
 Manager 
 
 duties of 
 •y him in 
 he office ; 
 ? into tlie 
 ing sepa- 
 
 ls 
 
 conduct, 
 o ensure 
 ' his bro- 
 
 subordi- 
 Icdge of* 
 leir con- 
 ; perfect 
 
 ook for 
 ediately 
 xpectcd 
 ce over 
 
 4. It will not, therefore, be admitted by the Court of 
 Directors, as an excuse on the part of the Manager, or of 
 the Accountant if acting in his absence, for neglect or 
 irregularity in any department of the Branch, that such 
 neglect or irregularity was occasioned by the default of 
 any other officer, unless it shall clearly appear that there 
 was no relaxation of vigilance on the part of the Manager, 
 or of the Accountant if acting for him, and that such 
 I neglect or irregularity was instantly, on its occurrence, 
 
 brought under the notice of the Local Board, and reported, 
 in due course, to the Inspector. 
 
 5. It is to be clearly understood by every officer con- 
 nected with the Establishment, that no perquisites what- 
 ever are on any pretence to be demanded, or received ; 
 and that the demand, or receipt from the Public of any 
 perquisites, fees, or gratuities whatsoever, will be consi- 
 dered an offence of such a nature as to call for the dis- 
 missal of the party so offending. 
 
 (). The officers of the Bank shall be precluded from 
 entering into any trade, mercantile business, agency, or 
 office whatsoever, whether in their own name, or that of 
 others, or of receiving, directly or indirectly, any commis- 
 sion or remuneration for business done by other parties, 
 while in the service of the Bank. 
 
 7. 
 
 I. The Local Directors, Manager, Accountant, and 
 every person connected with the Establishment, shall 
 consider themselves bound to secrecy as to every thing 
 that takes place at the Bank ; and are on no pretence what- 
 ever to give information as to any account or transaction 
 in the books of the Bank ; and it shall be the duty of the 
 
I) 
 
 I 
 
 ( 14 ) 
 
 Manager and superior officers to sec that this order is 
 strictly observed. 
 
 8. The Manager and Accountant have duties to per- 
 form, in some respects, independent of each other; but 
 rothing in these Instructions must be considered, in any 
 dt jree whatever, as taking off the responsibility of the 
 Manager for every thing that occurs at his Establishment, 
 or infringing upon the control of the Manager over the 
 Accountant and other officers. 
 
 9. When vacancies occur at any of the Colonial 
 Establishments, they shaU be lilled up, pro tempore, by 
 the Inspector, with the concurrence of the Local Board 
 thereof; it being distinctly understood that no appoint- 
 ment is to be considered final, until ratified by the Court 
 at London. Such vacancies are to be filled up by a 
 selection from the officers of the Establishments, generally, 
 of the Bank in the Colonies, unless it shall appear that 
 the interests of the Bank are likely to suffer thereby. 
 
 10. The salary of the officer so appointed shall be 
 fixed by the Local Board and Inspector, subject to con- 
 firmation by the Court at London ; but under no circum- 
 stances shall the salary exceed the sum enjoyed by the 
 previous officer. 
 
 11. Should the Manager find occasion to be absent, 
 he shall notify the same to the Local Directors, who shall 
 authorize the Accountant to take charge, in his absence, 
 radvismg the Inspector, the other Branches, the New 
 York Agents, and the Court in London that he has so 
 taken charge); and on the Manager^s return he shall 
 address a letter to the Inspector, stating that he had 
 
 1 
 
 i 
 
 ' ^^^««pM| 
 
( 15 ) 
 
 3 order is 
 
 es to per- 
 Lher; but 
 i, in any 
 ty of the 
 lishment, 
 over the 
 
 Colonial 
 ipore, by 
 il Board 
 
 appoint- 
 le Court 
 ip by a 
 enerally, 
 ear that 
 2by. 
 
 shall be 
 
 to con- 
 
 circum- 
 
 i by the 
 
 examined the transactions, and whether or not they met 
 I with his approbation, with his reasons for approving or 
 
 disapproving. 
 
 li. Should the Accountant be absent, the Local 
 Hoard shall appoint another officer of the Establishment 
 to perform his duties, of which immediate advice shall be 
 sent, as on occasion of the Manager's absence. 
 
 13. Should the Teller, or any other officer of the 
 Branch be absent, the Local Board shall appoint some 
 one to perform their duties, respectively, advising the 
 Inspector thereof. 
 
 14. When the Accountant signs Bills, or other docu- 
 ments, for the Manager in his absence, the officer executing 
 the duty of Accountant must countersign such Bills or 
 documents for the Accountant, so that no document be 
 signed and countersigned by the same officer. 
 
 15. In case of the death of the Manager, the Ac- 
 countant shall be appointed, pro tempore, as Manager by 
 the Local Directors, until instructions be received from 
 the Inspector. 
 
 absent, 
 ho shall 
 ibsence, 
 le New 
 
 has so 
 le shall 
 he had 
 
 J 
 
 REGISTRY OF SHARES. 
 
 1. Registries of Shares held by parties in America 
 shall be kept at the Bank Offices in Montreal, and St. 
 John, New Brunswick, to be called " The Colonial Share 
 Register.'"' 
 
I 
 
 ( 16 ) 
 
 At the time of the payment of the Deposit of £1 per 
 Share, each of the parties shall be required to sign a 
 Power of Attorney, authorizing the execution of the Deed 
 of Settlement in England ; these Powers of Attorney 
 shall be immediately forwarded to Montreal, if the Share- 
 holder reside in Upper or Lower Canada, or to St. John 
 New Brunswick, if the Shareholder reside in New Bruns- 
 wick, Nova Scotia, or Prince Edward Island, and from 
 them the Colonial Share Register shall be formed. When 
 this has been done, the Power must be sent to England 
 together with exact copies of the Colonial Share Register' 
 m order to complete the English Register ; every subse- 
 quent alteration in either of the Colonial Share Registers 
 must be immediately notified to the Court of Directors in 
 London, and tJie Deeds of Transfer transmitted at the 
 same time. This is necessary to be punctually attended 
 to, as otherwise it will not be possible to make out cor- 
 rectly the Dividend Warrants. Parties on executing the 
 Power of Attorney, and paying the Deposit, to receive a 
 certificate signed by two Local Directors, stating the 
 number of Shares upon which they have paid, and the 
 place where the same are registered. 
 
 2. Shares may be sold at any place where there shall be 
 a Local Board of Directors, the consent of the Directors 
 being obtained to their Transfer ; this consent to be signi- 
 fied by two Local Directors afiixing their signatures to the 
 application for permission to transfer. At the time of 
 making the application, the applicant shall deliver up his 
 certificate of Shares, which shall be forwarded to the 
 proper place of registry to be cancelled, and if only part 
 of his Shares are intended to be transferred, a new certifi- 
 
 ^tMi 
 
( 17 ) 
 
 cate of the number he still retains shall be given. The 
 Transfer Deed shall be prepared in the Bank Office, and 
 must be returned within a specified time, executed by the 
 !>uyer and seller ; when, the approbation of the T^ocal Board 
 to such transfer having been testified by two of the 
 Directors signing their names at the foot of the Deed, it 
 shall be immediately forwarded to the proper place of 
 registry for registration. Until the Transfer Deed shall 
 have been so registered, the Shares cannot be considered 
 to have been transferred. All Deeds of Transfer must 
 be executed in Duplicate, the original to be transmitted 
 from the place of Registration to London, and the other 
 part kept at the place of Registration. 
 
 3. In case any of the Shareholders in Great Britain 
 shall be desirous of registering their Shares, or any part 
 of them, in America, they must apply for, and receive 
 from, the London Office, a Certificate addressed to the 
 Local Board at Montreal, or St. John, New Brunswick, 
 stating the number of Shares so to be registered, and 
 authorizing the Local Board to insert such Shares in the 
 Colonial Share Register upon delivery of the Certificate ; 
 and the Local Board shall give Certificate of such Shares 
 having been so registered. Such Shares shall then be trans- 
 ferable in the Colonies, and the dividends payable there; 
 but no Transfer of such Share will be allowed, nor 
 dividends paid upon them th ifter, at the London Office. 
 
 4. In like manner, should any Shareholder in America 
 be dcfirous of having his Shares registered in the London 
 Office, he shall apply for and receive a similar Certificate 
 from tlie Local Board at the place where they are regis- 
 
 |l 
 
 
¥ 
 
 ( 18 ) 
 
 tcrcd, giving up to ho cancelled his original Certificate. 
 No Transfer shall be allowed, nor dividend paid, on such 
 Shares thereafter, at any of the Colonial Establishments. 
 
 6. The Fees on Transfer .hall be the same as at the 
 London Office, t-;«. U. sterling per Share, and shall be 
 placed to the credit of Charges Account. The postage 
 on the transmission of the Transfer Deeds and Certificates 
 shall be also charged to the Shareholder. 
 
 ; (■ 
 
 NOTES. 
 
 1. A Note Register to be kept, in which an exact 
 account of the number and date of each Note sent from 
 l.ondon is to be entered. 
 
 2. When the Notes are signed, the blanks for these 
 entries wiU be fiUed up in the llegister. 
 
 canceUed, by cutting them into two, and stamping them 
 with the word « canee/led,- on each half This shall be 
 done by the Manager, i„ presence of two of the Local 
 Directors, who shaU take the halves, and seal them up in 
 
 the Court at London, by separate vessels. 
 
 4. On Notes being thus cancelled, they shall be with 
 Jawn .m the Balance of Note Account' On canceU g 
 
 im, iTr:r: tet r r " "' --'' ^'"^' - -- 
 
 w>i oe narrated in the minutes of the Local 
 
 I 
 
 I 
 
 I 
 
Certificate, 
 id, on such 
 lishmcuts. 
 
 ic as at the 
 id shall he 
 he postage 
 L'crtificates 
 
 
 ( 19 ) 
 
 Board. Each of such Narrations shall bear a separate 
 number, and such number shall be inserted in the Note 
 Kegister, opposite to each Note cancelled by such Nar- 
 ration. An exact copy of each Narration shall be trans- 
 mitted to the London Office, with the number and date 
 thereof, and called a Specification. 
 
 CASH DEPARTMENT. 
 
 an exact 
 sent from 
 
 for these 
 
 y shall be 
 ing them 
 s shall he 
 he Local 
 em up in 
 «^arded to 
 
 be with- 
 ancellinff 
 , so can- 
 le Local 
 
 1. The Manager is responsible for the safety of all 
 Cash that shall come into his hands ; and the Local Direc- 
 tors are required to check it, in the manner hereafter 
 mentioned. 
 
 i 2. The Manager shall keep a record of it in the Safe 
 
 Hook ; and it shall be the duty of the Local Directors, 
 at least once a week, to examine, and having examined, 
 
 I to attest it, both as regards what is in the Treasury, and 
 what is in the Teller's possession. 
 
 3. As soon as any supply of Notes or Bullion shall be 
 received in the Office, it shall be the duty of the Local 
 Directors and Manager, carefully, to examine the same; 
 and having ascertained the amount, immediately to deposit 
 it in the Treasury, of which the keys are in their separate 
 
 I possession, as after mentioned. 
 
 4. The key of the outer door of the Strong Room 
 shall be in the exclusive custody of the Manager. 
 
 5. Within this outer door shall be placed the Teller's 
 
 B 2 
 
 * ii 
 
 -is- 
 
i\i 
 
 I, 
 
 I 
 
 ( 20 ) 
 
 Chest, which has two locks, the key of the one being in 
 the custody of the Manager, and the other of the TeUer. 
 
 6. Within this Strong Room shall he placed the Iron 
 Room, to be called the Treasury, the door of which shall 
 Iiave two locks, the key of one being in the possession of 
 the Local Directors, and the other of the Manager. 
 
 7. Within the Treasury shall be the Cash Safe, on 
 which there shall be two locks, the key of the one being 
 kept by the Local Directors, and the other by the Manager. 
 Within the T casury shall also be deposited all Securities 
 belonging to th>? Hank. 
 
 8. The Manager shall not on any account part «rith 
 his keys to the Local Directors; neither shall the Local 
 Directors give their keys to the Manager ; so that the 
 joint custody of the Cash shall, at all times, bo r.rfect, and 
 nothing can be taken out of the Treasury v; 'i ut the 
 presence of a Local Director and the Manager. 
 
 9. The Manao-er shall deliver to the Teller, each 
 morning, so much Cash as may appear to be required for 
 the service of the day ; and the Teller shall, immediately, 
 charge bu.. elf therewith in his Cash Book, specifying in 
 the entry thi- Notts and Specie of which it consists. 
 
 10. The Manager shall occasionally advise with the 
 Inspector as to the complete security of the Strong Room 
 and Treasury, and suggest any additional security which 
 he may think desirable. 
 
 n. The Manager shall consider the Safe Books and 
 Note Book as strictly private, and not to be shown to 
 
( 31 ) 
 
 uny person whatever, except the Local Directors and 
 Accountant. 
 
 1 2. It shall be the Manager's duty to take care, that 
 the sum of Bullion in the Treasury is not known to any 
 person whatever, except the Local Directors, the Account- 
 ant, the Inspector, or a person holding his written 
 authority. 
 
 13. The Teller shall be personally liable for any defi- 
 ciency in his Cash. He shall not, however, retain the 
 surplus, should any appear at the close of the day's trans- 
 actions, which shall be handed over to the Manager, and 
 rctai led by him till the proper owner be ascertained. 
 
 14. The Manager shall count over the Teller's Cash 
 every night, and sign the same as agreed. 
 
 ii 
 
 I 
 
 TERMS OF BUSINESS. 
 
 I 
 
 DEPOSIT RECEIPTS. 
 
 1. The Local Board shall fix, at their discretion, a 
 limit, below which no sums shall be received on interest. 
 In places where Savings Banks are established, the Local 
 Board must have reference to the amounts allowed to be 
 deposited therein, and not receive smaller sums, if they 
 shall have reason to believe that their doing so would be 
 considered an improper interference with those Establish- 
 ments. 
 
 2. The Interest allowed on deposits shall not exceed 
 
 mmmmm 
 
 eSBHSEMBIS-' 
 
( 22 
 
 
 three per cent, per annum ; and no Interest shall be paid, 
 unless the deposit shall have remained in the hands of the 
 Bank for a period of not less than three months. Fifteen 
 days' notice shall be given before withdrawing the deposit, 
 and the Interest shall cease on receipt of the notice. 
 
 3. No partial payments are to be made on Deposit 
 Receipts, nor any payment to be made without production 
 and delivery of the Receipt. 
 
 CASH ACCOUNTS. 
 
 Open Cash Accounts may be opened with any parties, 
 at the discretion of the Local Board. 
 
 CASH CREDIT ACCOUNTS. 
 
 1. Cash Credit Accounts not to be encouraged as a 
 general rule of business, but may be opened at the discretion 
 of the Local Board, on security being given by a joint 
 bond of the borrower and two other parties (who shall be 
 principals in the Bond) ; each of whom shall be of such 
 undoubted responsibility as to be deemed, separately^ suffi- 
 cient for the whole amount ; and the Local Board shall 
 require additional security, if doubt should at any time bo 
 entertained of the solvency of any of the parti 3S. 
 
 2. The parties to whom the advantage of Cash Credit 
 Accounts may be granted, shall be required, in return for 
 such advantage, to operate as frequently upon their 
 
 i 
 
( 23 ) 
 
 accounts as they conveniently can, by making their pay- 
 ments in cheques upon the Bank, and by paying into the 
 Bank the Specie, and Notes of other Banks, that may come 
 into their hands in the course of business. 
 
 3. No Cash Credit to be granted for a sum exceeding 
 Five Hundred Pounds, and to bear the full legal rate 
 of Interest, and such accounts to be called up, at any time, 
 at the discretion of the Local Board ; and it shall be the 
 duty of the Local Board, frequently, to investigate the 
 Cash Credit Accounts, and to call up such as may have 
 become inoperative. 
 
 It 
 
 DISCOUNTS. 
 
 1. No paper shall be discovmted having longer to run 
 than three months, and which has not, at least, two names 
 approved by the Local Board. . 
 
 2. Money never to be advanced upon mortgage, on any 
 pretence, nor mortgages to be ever taken, except as collateral 
 security. 
 
 3. Renewals of Bills discounted to be discouraged as 
 much as possible, and never to be granted unless the Inter- 
 est of the Bank renders it imperative ; in which case the 
 Local Board are to require a diminution of the original 
 amount. 
 
 4. In discounting Bills, or purchasing Exchange, the 
 Local Board should, constantly, bear in mind the necessity 
 of guarding against too large an amount depending on the 
 security of any one house. 
 
 Jh 
 
( 24 ) 
 
 PERSONAL ACCOUNTS. 
 
 Copies of the Personal \ccounts shall be rendered to 
 the parties half-yearly, the interest (if any) being then 
 brought to account ; and the parties shall be required to 
 confirm the accuracy of the accounts at each balance, either 
 by letter or by signing a docket in the Bank books. 
 
 TRANSACTIONS BETWEEN BRANCHES. 
 
 1. It is essentially necessary to the prosperity of the 
 Establishment, for the Local Boards to bear constantly in 
 mind, that the transactions of all the Branches centre in 
 one profit and loss account, and that they equally benefit 
 the Company, in any profitable operation in which they 
 may engage, whether the profit arising from it may appear 
 in their own accounts, or in those of another Branch. 
 Every tendency towards feelings of rivalry or jealousy 
 between the difi^erent Branches is to be carefully avoided, 
 as most injurious to the general interests of the Company. 
 
 2. Each Branch shall honour the Drafts of any other 
 Branch, and the balances between the different Branches 
 shall be settled from time to time, in such way, as shall be 
 most to the interest of the Establishment, either by direct 
 remittance in Specie, Notes of other Banks or Promissory 
 Notes, or by one Branch remitting the balance to the 
 Court, and the other Branch drawing upon the Court for 
 the amount; but no such drafts upon the Court to be 
 passed, unless the equivalent amount be remitted at tlie 
 same time, or previously. 
 
( 25 ) 
 
 13 Whenever the Notes of one Branch shall be pre- 
 sented at another, they shall be paid either at par, or at a 
 discount equal to the difference in the rates of excliange on 
 London, at the two places. The Notes so redeemed to be 
 forwarded by the earliest convenient opportunity to the 
 Branch at which they may have been issued. 
 
 CORRESPONDENCE. 
 
 fjf 
 
 I! 
 
 les 
 
 1 This department shall be carried on by the Manager, 
 with such assistance, in the subordinate parts, as he may 
 require from the other officers. 
 
 o All letters on ordinary business shall be carefully 
 copied into the appropriate Letter Book. Letters to the 
 London Of!ice, and others that occur frequently, should 
 be classed together ; and one or more books may be used 
 for such letters, according to circumstances. 
 
 3 For letters of a contidential nature there shall be a 
 separate Letter Book provided, into which such letters 
 shall be copied, either by the Manager himself or by the 
 Accountant, as may be found convenient. 
 
 4 The Advice Book shall be regularly kept under the 
 eye of the Manager. There shall be entered into it, daily, 
 ail advices received or communicated, with distinct refer- 
 ence to the authorities for the same. 
 
 r, All letters received shall be opened by the Manager ; 
 and the Local Directors are required to peruse all letters 
 so received, as well as those dispatched. 
 
( 26 ) 
 
 (>'. A book shall be kept for entering the letters received 
 and dispcatched each day, and checking the postage ; on 
 the one side of which shall be entered, under the name of 
 the writer and place of abode, every letter received and the 
 postage ; and on the other side, imder its address, every 
 letter dispatched, whether by ])ost or by any other con- 
 veyance, distinguishing which, and the postage in cases 
 where the Bank pays it. The person employed to carry 
 the letters to the Post Office, or to deliver them personally, 
 or to forward them by any other conveyance, shall see 
 that they are duly entered in this book ; and after disposal 
 of them he shall affix his initials against the entry, in a 
 column appropriated for the purpose. 
 
 N. B. The oflicers of the Bank shall pay their own 
 postages. 
 
 7. The letters received at the Branch shall be kept in 
 separate classes ; each class arranged in chronological 
 order from one yearly balance to another, and the whole 
 carefully preserved in presses or boxes, as may be most 
 convenient, and so as to be most easily accessible. 
 
 PERIODICAL RETURNS. 
 
 i 
 
 1. The Statements of Transactions, and Abstract of 
 Balances of each Branch, shall be made vip and forwarded 
 weekly to the London Office, and to the Inspector ; and 
 shall be directed to the Bank of British North America at 
 London, and to the Inspector at New York. 
 
( 27 ) 
 
 2. The half-yearly Balance Books shall be directed to 
 the Secretary at London, and the Inspector at New York ; 
 and those addressed to the Inspector shall be marked 
 private, on the outside. 
 
 S. Although no conveyance be immediately ready, 
 these Returns must punctually be made up and sealed at 
 that time. 
 
 WEEKLY RETURNS. 
 
 1. The Accountant shall (ill in daily the particulars of 
 the attached lists, and of the Bank\s Account Current ; so 
 that on ^Monday evening he has only to add that da/s 
 transactions, and insert the totals in the Weekly Abstract, 
 writing the balance from the Teller^s C^ash Book and Safe 
 Book. ^ 
 
 2. The Weekly Balance shall be taken from the totals 
 of the General Accounts in the Check Ledger. 
 
 3. The Circulation shall be taken from the Note 
 Book. 
 
 4. The Accountant shall mark in the small column 
 allotted for him at Bills discounted, the discount, com- 
 mission, and postages charged on each bill or set of bills ; 
 the interest received on Past-due Bills, and paid upon 
 Deposit Receipts ; seeing that the totals agree with the 
 sums entered in the BanVs Account Current. 
 
 5. The Local Board shall insert their remarks on Past- 
 due Bills, Discount Accounts, and new Accounts opened. 
 
( 28 ) 
 
 HALF-YEARLY RETURNS. 
 
 1. A Balance-sheet of the Balances Dr. and Cr., with 
 Interest due by and to the Bank. The Accountant shall 
 mark in the last column the date when the parties confirmed 
 their accounts. 
 
 2. Certificate by the Manager and Accountant that 
 they have read over the Bills on hand, with the Daily Bill 
 Book, and that they all are in the custody of the Manager. 
 
 8. List of Bills discounted, with Statement of Interest 
 for unexpired time. 
 
 4. List of Deposit Receipts, with Statement of Interest 
 due. 
 
 5. A Report by the Local Board on Cash Credit 
 Accounts. 
 
 6. List of Bills received for Collection. 
 
 7. List of Bills remitted for Collection. 
 
 8. A Statement of Charges Account. 
 
 9. Abstract of Charges Account under the heads of 
 Salaries, Rent, Taxes, Repairs, Coals, Candles, Stationery, 
 Postages, and Miscellaneous. 
 
 These are in addition to the Weekly Returns for the 
 week when the half-yearly Returns are made up.