These types of puzzles are known as charades. What you have to do is to find two words that are referred to in the first stanza and the second stanza and put them together to form the third word in the third stanza.
Just for example, if my first refers to 'off' and my second refers to 'ice', then my whole will be the 'office'.
My first is present - future's past -
A time in which your lot is cast.
My second is my first of space
Defining people's present place.
My whole describes a lack of site -
A place without length, breadth, or height.
Three people check into a hotel. They pay $60 for the rent of the room. After they check-in, the manager realize that the rent for the room is $55. So, he gives $5 to the bellboy and asks him to give it to them. The bellboy thinks that it will be difficult for the three people to share $5 among them and seeking the personal benefit, he pockets $2 and gives the remaining $3 to them.
Now, each person paid $20 and got back $1. In this manner, each of them paid just $19 which totals to the amount of $57. The bellboy has $2 with him and adding them, we get $59. So where is the remaining $1?
The day before the 1996 U.S. presidential election, the NYT Crossword contained the clue “Lead story in tomorrow’s newspaper,” the puzzle was built so that both electoral outcomes were correct answers, requiring 7 other clues to have dual responses.