Question 133. - Are the following endorsements regular under the rules?

A. John Smith, p. Tom Jones.

B. The Winnipeg Marble Company,

William Brown.

In the second case there is no incorporated company; Brown carries on his private business under the name quoted.

Answer. - Both of the above endorsements must be regarded as irregular within the terms of the rules. (See last part of Rule (b), and Rule (c). They do not in either case indicate the authority of the person signing.

In discussing these Rules in his article printed in the Journal for January, 1898, Mr. Lash explained the reason for treating such endorsements as irregular. We understand that there was a great deal of discussion before the principle was adopted by the committee. It was urged that no rule should be made which would bar legal endorsements which these admittedly were, but the conclusion of the committee as a whole was in favour of this rule, as tending to greater care and regularity. Some of the reasons urged are quoted by Mr. Lash in the article referred to. (See p. 194).