Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-12-04
- whefe 1t couid not be recovered. The fonoaiig 1
saaemont ofhe condition OF the fund at that period.


BANS FuSp CAPITAL.
This fund consists of the follow log items viz =
State Stock
Certificates from No. to inclusive, issued
May I5 1888, by the comptroller to the trea
surer, in trust, redeemable at pleasure, ia
tersst at Al psr cent sss,lAo,ss
Certificate No. TO- issued March l. 1884, to the
treasurer, in trust, redeemable at pleasure,
Certi6cate No ii, issued February IL, 1885, to
the treasurer, in trust, redeemable at ploa-
certiscste No "a, issued Nov "a, 1886, to the
treasurer, in trust, redeemable at pleasure,
Certificate No. H. issued Sept. IS, 1888, to
the treasurer, in trust, redeemaoe al plea
csTissnts No IA issued Feb $780, to the
treasurer, in trust, redeemabie at plea
sure, interest at per cent, 10000 90
Certificate No. To- issued Sept. %, 1899 to tho
treasurer. in trust, redeemable at pleasure,
c.Tidsate No. IA, (Astor stock), issued to the
comptroller, and by him held IL trust, re-
decYnabe at pleasure interest at per cent $4,000 90
Certificate No. IS, (Astor stook) issued to the
comptroller, andh him hell in trust, re-
deen,abe at pleasure interest at per cent $4,000 %
Certificate No.7l, (Black River Canal Loan)
issued to the comptroller, ia trust, redeem
able in 1885, interest at per cent, Seo2 W
Certificates No. to 20 inclusive (Oneida
River Loan, issued to the comptroller, in
trus redesnatle in 1850, interest at o per
eeat, 2',ooo w
Balance due on comptroller's bond, given to
the College of Physicians and Surgeons,
New York, the payment of which has been
assumedby Union College, by resolution oil ooo m
trustees, 6 cent, zo,Vo w
Balance due on John Palmer's bond and mort
gage assigned to the comptroller " kch,
ard Yates for loan from the bank iuhd, ooo oo
Mpnev in ,he treasury l,7o5 76
sslssao SO
Such was the condition Of the famous Safety Fund. The
of the had outrun all its
aud the bank fund had been seized and approrr
ted purposes 100000 haa been given to the
I'm ION College. 1t is nomisal loan, but will never be
Ok ON ia med IN or Palmer
mortgage leaving meet the demands ofthe bill
holders othe City Bank for s26s92o The consequence
was that other provision to be made The bank fund
was totally unavailable for the purpose for which
was provided 1t had been spent and frtted away for
other purposes. The Legislature was consequently
Obliged to create stock for immediate SALE in order
TO sustain the faith of the State. Accordingly 100000
cent stock radeemabe at the pleasure of the State
alter 1876 was created and bought at public auction by
Prime Ward King in small lots, at 81 cat, making
dead loss to Of $4,000 by forcing stock in
restricted market The Comptroller comes forward
with the following notice, which published fsw days
since -
C,mprRoLLER's OFFICE,
ALa,vY, November 10Th, 1910.
To the Cashier Of the City Bank:
YOU are hereby notified that to replenish the Safety
fund CATER the dminuon of that fund, caused by
dent,on of the of the City Bank Of Buffalo, in
solvent corporaton required to pay to the
Treasurer the State of New York half of one per
January next pu the pro sons Of the said act
VERY especially, your obedient servant,
Bates COOKE, Comptroller
This call the banks resist Illegal and they right
The Comptroller has authority make the call under
the The 4h section Of the safety fund act
p-ovaes that payments shall when the fxnd
amounts to per the capitals of the banks which
would make s6soOOO The 9Th section provides, that
when the fund is reduced below this amount call
Of one half per cent shall be made The bank fund
SaI andth he pew call Mt 10
opo making in all sssoooo being in of the amount
authorized ss2O0O0 The whole circulation Of the City
Bank Of Buffalo $26s 800 'eqventy theComproer
ask. for than he has lost Perhaps howeverhe
means that the bank fund shall bear the loss
,aiael on the of the 100000 and which went into
The pockets of the wire pullers for the whole operation in
wall street He may also find convenient to add the
interest d, TO the fund.- the state that borrowed in
der 10 relieve some other fund 1t is time this miserable
and discraceful system Of laundering had ceased