The New York Draft Register. — "*In this book is kept, in detail, the account between the
bank and its New York correspondent. "" On the left-hand page are entered all remittances to the
Chemical National Bank for its credit, with the number of the draft or check, the bank or persoa by
whom drawn, the bank or person on whom drawn, and the amount. "'On the right-hand page are
recorded all drafts drawn by the bank on the Chemical National Bank, with the number, the name of
the person, bank or firm in whose favor made, the amount of Collection and Exchange and the face of
each draft. {See New York Draft Register, page ^24..) "'This book is balanced every day and the
balance brought down, and while an account is kept in the General Ledger with Chemical Bank,
simply to §how in the quarterly statement all the resources and liabilities of the bank, yet this book
represents the current condition of the account with Chemical Bank and is the account consulted when
information is wanted regarding the business with the bank. "• The aggregate of the remittances to
Chemical National Bank for the day is charged to that bank on the right-hand side of the Journal,
"" and the aggregate of the drafts made on Chemical National Bank during the day is credited to that
bank, on the left-hand side of the Journal. "* The footing of Collection and Exchange column in this
book is credited to Collection and Exchange account on the left-hand side of the Journal. "' If it is
deemed desirable this book may be divided into two books as in the case of the Journal, *" one devoted
to remittances made to our correspondent in New York City ( or other commercial center ) and the
other to the drafts drawn by us upon such correspondents.
