Water chiller. A water chiller is a mechanical device used to facilitate heat exchange from water to a refrigerant in a closed loop system. The refrigerant is then pumped to a location where the waste heat is transferred to the atmosphere.
Banking in the United States before creation of the Federal Reserve System was, to say the least, chaotic. Early American Banking: 1791-1863. Banking in the America of 1863 was far from easy or dependable.
In the U.S., the Suffolk Bank opened the first clearing house in 1818 in Boston, and one was incorporated in New York in 1850. A clearing house for bankers was opened in Philadelphia in 1858. The use of clearing houses by financial exchanges is somewhat more novel.