clearing

n. 1. The act or process of making clear. [ 1913 Webster ]

The better clearing of this point. South. [ 1913 Webster ]

2. A tract of land cleared of wood for cultivation. [ 1913 Webster ]

A lonely clearing on the shores of Moxie Lake. J. Burroughs. [ 1913 Webster ]

3. A method adopted by banks and bankers for making an exchange of checks held by each against the others, and settling differences of accounts. [ 1913 Webster ]

☞ In England, a similar method has been adopted by railroads for adjusting their accounts with each other. [ 1913 Webster ]

4. The gross amount of the balances adjusted in the clearing house. [ 1913 Webster ]

Clearing house, the establishment where the business of clearing is carried on. See above, 3. [ 1913 Webster ]