The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-05-20
$3.50 03

$3.50 03
The overdra is probably irrecoverable and it ap
pretended that there will be delay and loss the debt Of
$4,000, which is in prosecution.
For the debt OF the Merchants Exchange Company,
watch has long been in the bank, their bonds have
been accepted for $4,000 of which the prime pa and
per cent per the interest secured by the
cond trust mortgage to James 9. King.
note for ST. 90 Of soullard Delluc Co., endorsed
by Plunke which fell due since the last statement,
missed for so per cent and interest.
No other loss suspended debt from any discounted
bill note or from any loan whatever, or from any bill
of exchange taken for account of the bank has occurred
from its organization to the present time than those
set forth.
The temporary loan of $25O00O to the State of New
York, and OF 900 to the city have been paid in full
The post Of the Philadelphia Bank for 81 500 and
the Bank Of Pennsy for $4,000 were fully dis
charged ut or before maturity.
The bank stock but of the State of New York
and of the United States and has owned any other
lodged with the Comptroller of the State security
its circulating netes and $ss coo Of Al per cents cosng
sos $50 10, remain unsod. These two constitute
all the stock of this belonging to the bank
Ofthe loan to The United States at 81 cent interest
due 3l December 1884, Of 81 600 Ooo included in the last
report there remain $496 the property of the in
sti ution, the balance having been recently sold The
collateral arrangements which led to this subscription,
the price obtained for what has been sold and the present
value Of the residue plainly show its advantage to the
bank The only remaining item OF this 1851 900
othe Of United States per cent stock irredeem
able for 30 years. taken at par portion OF the original
amount having been Sold 1t will be perceived that this
loan to the United States and the recent sale of equal
amount ofthe 81 per stock effected change Of halt
million of short stock bearing 81 per cent interest into an
equal amount of per cent stock, having 20 years to
run.
The conversion Of the stocks owned by the bank and
not lodged with the Comptroller into money, as may be
needed for commercial purposes and as the interest Of
the institution may seem to require hiss engaged and will
receive the attention and consideration Of
board.
The amount ocaptal at the time Of aking up the last
report was So 5o0 No further instruments been
called in Since that time three shares Of scrip have been
made full stocki thus making the present capital
$3,222 74c.
The number of shareholders on the LIST of May inst was
3d. being since the LIST Of Nav Isl2
dividend OF per cent was declared in January last
being the 9Th dividend and dividend of per cent was
declared in July last, being the 9TH dividend,
The Of the bank have been thoroughly examined
several times during the year by Committees Of the Board
The last examination had the 9th April last when
s found to be correct and to correspond with the
During the year, John Rathbone Jr. one of the orgi
nal directors OF the association departed this e and Da
Donaldson resigned as director and George T. Adee has
been appointed his stead; Archibald Oracle resigned
director and John c. Green has been appointed in his
stead There three vacancies occasioned by the
sgnatons OF James Brown Jonathan Sturges and James
ken as directors which the Board are taking measures
All which is respectfully submitted
JOHN A. STEVENS, President.
GEORGE CURTIS Cashier.
This bank return gives complete clue to the rccen,
everish condition Of the stock market. The stock
board was organized with fifty brokers' professedy with
out capital. Immediately an immense speculation end
rise in stock took place. The Journal Co cried
out usual Gland, no J" because the price Of bubble
stocks The greatest excitement took place. ant
those papers that coolly denounced the state of affairs
unhealthy charged by the sagacicus tools of tn,
brokers interested elles Of sock What wps III,
secret OF the sudden bubble glance the above re-
port of the Bank of Commerce gives it at once
The farmers and planters Of this country by their indus
try earned immense surplus Of produce export fol
which some $4,000 hard dollars has been received
The merchants who own this money have deposited, l.
appears 600 900 in the Bank OF Commerce. That In