CANCELLATION OF CHEQUES.

Dunstan Times, Issue 510, 26 January 1872, Page 3

CANCELLATION OF CHEQUES.

The followin ' note cm this subject, taken from the Southern Cross is important:— The practice of making use of the signature to a cheque for the purpose of cancelling the stamp is open to the very great objection that the stamp is liable to hill'off at some future time, and thus leave the cheque without signature, or with only a very imperfect one. The Commissioner of Stam‘3has decilel that “As to stamps on cheques and drafts, the ad li ional st-mo of one p nuy when adhesive, must be cancels I in'he man ie- p- iv del by sec 1 ion sof the Act of 1871 aid the opinion of Mr. Whitake- as f o 'he mo le of cancellaion is as follows :—After careful consideration I come to t' e conclusion that the effect of the Act of 187 iis simply o alter the stam-i duty nayaple on cheques fr *m one ue-my to twopence, and to leave the mode •f cancellation-as it s'ool pno- to the passing of that Act.” In accor lan n e with this tiling the hanks ha'-e agreed to accept 'heques bearing, o i the come" next the block, stumps cancelled by the .initials of he drawers and the da'e of using, the sig- ■ attire to the cheque to occupy its usual 'acc without reference to the position of the stamps. f a-ge cheques a-e in duuand for e-mroor toilets. A cheque for a thousand pounds, presen'ed to Miss Bun ymagsliy her father has ’'een.much .admired.