e Eastern cities, New York, Philadelphia, and Boston,
have developed enormous cold-storage facilities, and Chicago no longer
is absolute in her dictation to the markets of the world. When it is
remembered that the dairy interests of our country during the last
three years averaged an annual value of $650,000,000, and that the
greater portion of this found its way into cold-storage warehouses,
the importance of this new and very necessary business is readily
appreciated.

COLD-STORAGE CHARGES

The cold-storage charges for eggs in thirty-dozen cases would be about
15 cents per case for the first month and 9 cents for every additional
month. Butter in sixty-pound tubs would be charged at the rate of 12
cents per tub for each month. Cheese would cost one tenth of a cent a
pound per month. The rates of Eastern cities are usually higher than
in the West. About ninety per cent. of the storage business of the
East is in goods shipped from the West. The refrigerator car is a
valuable adjunct to the business. The temperature of the cars is
about 45 deg..

Although no ice is used in the modern cold-storage plant, yet the ice
has become a very valuable by-product. Since all the facilities for
its manufacture are at hand it has become a matter of commercial
expediency to employ them to the company's profit in the production
and sale of a commodity indispensable to modern life.

QUESTIONS FOR REVIEW

1. Give some particulars in which the Bank of England differs from our
larger national banks.

2. A bank cheque is a demand order for money drawn by one who has
funds in the bank. How does a cheque differ from an order on A----
B---- to pay bearer a certain sum of money?

3. You are sending a cheque through the mails to John Brown, Chicago.
How will you prevent the cheque from falling into the hands of the
wrong Brown?

4. You identify A---- B---- at your bank. The cheque A---- B----
presented turns out to be a forgery. Are you responsible?

5. What is meant by power of attorney? How should an attorney indorse
cheques for any person for whom he is acting?

6. What is a certified cheque? Brown gives A an ordinary cheque for
$1000, and B a certified cheque for $1000. He fails before either
cheque is presented. Why is B's security for his claim considered
better than A's?

7. Show how all the banks of the United States are connected through
the clearing-house system.

8.