COMPARISON AND SECURITY CLEARANCE 337
are separated from the clearance sheet and placed with the
allotment sheets for Steel and for Reading. Finally, the checks
or drafts which are delivered at the windows with the clearance
sheets are sent to a separate department.
Examination and Checking of the Clearance Sheet.
After being divested of the accompanying exchange and bal-
ance tickets, checks, and drafts, the clearance sheets are taken
in charge by the examiner, who inspects their delivery prices,
the cash extensions, and the totals of the stock items. If a
sheet is incorrect in any respect, the error is run down and
eliminated without delay ; if correct, the clearance sheet receives
the mark of the examiner after the “EX” at its top and then
passes onward to the checker.
Meanwhile, all the exchange tickets which came in the four
windows with the sheets of other firms have been resorted and
placed in the boxes of the firms whence they have originated.
Thus, when Jenkins & Co.’s clearance sheet passes from the
examiner to the checker, the latter can obtain the exchange
tickets sent out that day by Jenkins & Co. These tickets the
checker uses to check against the items on the clearance sheet.
Actually, it is only necessary to check the delivery side of the
sheet against its appropriate deliver tickets. For example, the
checker obtains Jenkins’ deliver ticket for 100 Steel from
Jenkins’ box, where it has been placed after being detached
from Wilkins’ sheet, and checks it against the item on the sheet
So it is, too, with all the other deliver tickets which have origi-
nated with Jenkins & Co. In this way each deliver item on
every clearance sheet is checked against the appropriate deliver
exchange ticket, and another opportunity to detect any errors
or omissions in the sheet is thus obtained. When the checker
finishes with each clearance sheet he indicates the fact by leav-
ing his mark after the “CK” at its top. The termination of
checking the sheet marks the point at which the settlement of
the intermediate contracts which it records is effected. In
Jenkins & Co.'s sheet, for example, the intermediate contracts
