Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-05-21
POLITICAL.
{ From The .Non-y .ar,iel. 81 Ms N. y. AsraldA

New York, May 9Th, 1884, ). T. T.
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POLITICAL.
MONEY MARKET. :.
WEDNESDAY,, May 12-6 P. Nj,
The operations at the Stock Board parake every day,
more and more Of that lax morality and want OF prompt
ness in completing transactions, which is Distinguish
ing feature in the moned operations OF fhaceipha ~
has been the case that if broker failed to deliver STOCK
before two clock of the day succeeding the ransacon
the secretary directed to buy IT, IL now happens
that brokers arc perseverngly hammerIng certain
stocks after having failed to deliver for three or four
days This has been The case particularly IN u 3 Bank
Stock. Such an example, IN member OF the ooaro,
more especially in bank president, is highly PERM
cous in it's effects The transactions to-day were to
moderate extent only United States Bank declined 1;
North American Trust and Banking Co. !; Harlem !.
Sales of bills on Philadel pha Baltimore AZ; sales oil
Indiana SIS SCI, decline of 2t This was caused BY
the sale off lot thai had been pledged with broker
The dsposton to buy seems to have ceased, and a
large quantity are offering The temporary specula-
tion got up by few individuals who use the columns
of an evening paper seems to have passed away.
II s stated that the extension Of the loan made by the
Illinois commissioner TO pay the January INTEREST, mas
been effected payable partly in October and partly IN
February lS42 on terms more favorable TO the Stale
The loan fell due the lst inst and tender OF the
money was made by the commissioner on the oth ou,
the piedged bonds were not forthcoming. A renewal
then became necessary, which the commissioner Ihaiy
tO,H
with much difficulty. The difficulties are thlcken'ng
round the Bank Of Commerce clique daily The pros
pect for the payment OF the interest oil The oaie oil IL
lnos the only hope seems to DC 10 raise Inc money ny
bvnotbec alton Great hopes entertained that
enough will be realized from the taxes TO pay the Janu-
sry interests of lsl2. The assessment We understand
has already been made In Indiana, taxation VIII oe
of little service; the deprecated outstanding scrip IS
receivable for taxes and the amount sufficient 10 alb
sorb the taxes for four years.
Eac loy ne
ing on the part of bank officers. Scarcely bank IN
the country free from the corrupns influence OF The
whole system Letters from Augusta state that MIR
Barker Cashier of the State Branch, is missing and
there is deficiency Of 600 This is quite mode
rate.
The Southern Life aud Trust Company, Florida,
sold for some me checks on the agency OF tins city,
for it, own circulation by which most OF II was got m
The checks accepted BY Mitchell, the Secretary,
in Wall street and have nearly all been protested TO
the amount of 90 $4,000 These dlshonored checks,
we see by an advertisement in another column, are
bought at Sslares II Wall street, at 4O cents on the
dollar as also certificates of depcsItes on the bank oil
Tallahassee IL the agent here understood the true
credit SYSTEM and the people had confidence he could
easily redeem the checks by redrawing on the Bank.
The meeting of the stockholders of the U. s. Bank,
10 receive the report Of the committee on the state OF
the Bank is to be held mex, Tuesday Up TO this hour
neither the public the stockholders have received
any satisfactory information, either in regard 10 the
real position of the concern, of the causes which
have led to its failure. The Committee published q
one-sded report, exposing the private accounts and
transactions of four five officers OF the concern,
whom they charge with the mighty ruin that has over
taken the innocent stockholders This they have done
ruhlessy and recklessly, and with what results p
Why they show that these officers, out of 600
OF assets appropriated TO their two Millions or
two per cent and for this they have exposed their nc
counts blasted their characters, and destroyed the
manning credit of the Bank. At the same time that
they make this statement, they show an item OF S2l
600 600 suspended paper, and 200 of loans, on
which they remark as follow:
by majority The committee not submit the m in detail OF
The active q, suspended debt The injury which would result
be detrimental the Interests Of the stockholders while no
benefit Of sufficient Importance TO counteIalance such mischief
Tin regard to these lines therefore,
themselves with rcmarkng that but small proportion consists
Of regular mercantile discounts"
Biddle and Company loaned themselves $2,O00,0O0
aud employed $s0O0,00O in cotton transactions; the
names Of all the parties concerned in which are gwen
in full-Cabot Wilder, Bevan and Humphreys, and al
are implicated without ceremony. These were the
transactions of the officers. The above S29,O00,00O
were loaned by the directors, Lippincott, Massey
Kempton Price, Brown, Alsop and others, the very
men who make this Report This 500 600 900, of which
they say "rcry iite mercantile paper was divided
amongst them and their friends hence their soiicude
TO have this part concealed These two items alone
contain the secret of the Banks disasters, and If the
Stockholders permit these to escape exposure they
will show great neg ec of their interest. Recovery
10 be made only through knowledge the situation oil
the property and of the parties who possession
The publication of these lists should be exposed by all
means, at the coming meeting.
The government paper OF Washington has announced
the leading that 10 occupy the attention
Of Congress- Cabinet measures, at the Extra Session.
as follows:
l. The distribution of the proceeds the sales of Public Lands
among the several States.
and augmentation Of the duties on imports for the
purpose securing from that revenue adequate to the
r5s s of .Ss Of Ss sns law
The establishment of fiscal central other, to hid
the Government in collecting and discussing the revenue and
temporary loan, necessary supply the immediate
cessties Of the Treasury.
Tns squandering oil the public domain among the
spectators is the first, it appears-an increase of the
dues is the next in importance, necessarily, the
cuse for il grows ont Of the deficiency caused by the
first proposed measure. Then we have the repeal Of
the present fiscal agent, and then the creation Of
ther tina, will better the purposes of the
bers and SPECTATORS and become an instrument OF
ward to those in Wall street, who have beeen "fathful
to the party" and subscribed literally to the "rin and
electioneering expenses For the same OBJECT VIII be
the creation of national debt. We have here FIVE
measures two of which to repair the evils caused
by the other, and the whole constitute the Lead
ing features of gigantic scheme OF extravaganza
and speculation. The essence of the whole Is taxa
ton Of the people, the form of high duties for the
avowcd benefit Of the stockholders. This taxation
is also laid in the form most destructive to CON-
it is another barrier to he raised between
tons to prevent free intercourse, and this at time
when the country requires above all other things,
increased market for her produce and to
trade Simultaneous with the proposition to choke
commerce BY increased burdens, ii proposed egu
late exchanges, by creating monopoly Bank, and de-
stroying the trade of all other banks the county,
This plan could only have originated in the Philadel
pha schools of finance. In considering the subject,
Congress would do well to adopt The parliamentary
uvithn tn md Co..
persons and papers to investigate the subect and take
The opinion Of practical in regard to the matter in
all its bearings In relation TO the small note issues
Dr. Dyo,t could give them some valuable hints. In
stock operations and transfers generally, Mr. Lewis Is
well qualified to give the best information In the de-
tails of the Bank generally host Of all descrip-
tons Of officers stand ready to explain the modern