Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-07-19

such cement, but public convenience reqs
have, therefore, pat the Of discount a. low - WIN
rate them for the risk and Transmission OF their pms
the city The North American Trust and Banking Company
has come forward make the redemption At rae hsn
the new banks afford in the present oil he
without suffering any loss ITSELF Tbs great object achieved
this give uniformity and stability to the new
the same tine il has effect Of checking the uni
ted creation Of new banks by those who wish TO borrow
rather than to lead bank stand on par with the
others which the Of placing the requisite dep
site in the the redeemng bank which must also DC o.
sufficient capital be able to sustain the corresponding oahk
the year when the balance against Them
great evil which has hitherto prevailed with the safety
Fund Banks is the ofsome inland point ofexchangc-a
instance Utica Syracuse where their exchanges may
be made and the ultimate balance only be settled by check
on the New York bank Such the system pursued by the
banks and atery by the Irish banks also by the Eng
sh all Of which balances settled by bill
London. At the recent meeting Of the committee Mr..
explained the necessity Of such arrangement and
will probably be adopted for its perfection.
The North American Trust and Banking Company is now
fair way ofbssines She has the Liverpool Bank as an
agent in Liverpool and her connections with the Bank OF En-
gland London places her favorable standing in that
ke She acts also the agent of the Bank Of England for the
settlement affairs of the three WIS remaining unfinished
addition making for the reception of the
long paper dry goods merchants for which she issues cert
depoe payable in London, bearing interest at from
three months after the paper received arrives at matte
ry. This encouraged by the Bank of England
The of the State Security Banks in this matter
has spurred on the Safety Fund Banks to make
arrangement for their bills prior to the 27th meeting
accordingly held today in the State Bank paror, which
will without doubt result in renewal of the former arr
rangement higher rates Of discount Mr. Stebbin Of
the Bank Commissioner arrived tswn yesterday also Mr.
McGee Of Bath steuben county, Mr. Johnson Of Utica,
both of tho Safety Fund Committee, present at the
meeting The two systems cannot however, exist
probably twelve months cannot caPse before the present
Safety Fund Banks will in under the general law There
many indications which point to this result The Safety
Fund Encouragement tranmeled and borne
down by accumulated issues based produce at high prices
and accommodation paper This not the with the
banks such of them have real capital and
cautious system Of discounts growing gradually with the
turn of business will ultimately form the nucleus Of paper
system sound than any before BY the public
sales mt, the stock Exchange.
IS Blk of Commerce 100 i Blk of York 1880 Ner
chants 1890 Phenix Blk &c. 400 10 9sbS 320 do 9S40
River $50 Commercial 90-7 State Blk 1884, do 05t60
Mechanics Blk Association 82 20 do $3.50 Del Hudson
6 So do 64b3 rs do 67s0 80 do 6&c 10 do 67c 100 do
67c do 6733O so do 67 SO do Ss IS do 1880 so do
675sl0 so do 673c-6o Ohio I $3.50 U Bank ll4As3
463 Blk of Kentucky rs do 7S lS7 do 49, 81 do
1888 do 9b9 SO do $780, so 7s so do 1880 loo do
77is6 do 79bo0-25 Merchants Fire g. 10 do 94 "a do
943 do 95-lO 18th Ward $50 Canton 36 10 do 37b30N
Mohawk 5 IS do so do 5Slsl6 IS do 5sc % do 5SslS-
Boston Providence l07-l0 Stonington 25t 50 do 2oh3-
Harlem 4 80 ZOE de 46s 100 de 4sb60 so do 463
ssO 80 do 4cis 100 do 4so loodo 4sa $50 do 4oass