The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-04-21

his notion the jurisdiction of the federal in
between citizens of State and those of another
State. or OF foreign countries. He concludes as fol.
lows =
Let the American bondholders then thus go to work
ana they may laugh at the doctrine of reputation
much as the rascslly regulators now laugh at them
pay IN full may be obtained long as those States
nave iandto the amount in their possession
Inc Bankers Circular and other journals gravely copy
this The circular states that the author exceed
ingy well informed man. whose he should have no
difhcuy in stating" It is little astonishin these
English people should indulge in such wholesale abuse
OF America when from the Premier down to the printer
they display such utter ncapacy to understand repub-
lican institutions
y The not received IN sufficient season to pro-
duce any material influence upon the market this NOR
ming. At the Board. however, sales were large and
prices better New York City S. 1885, rose per cent;
State S. of 1862 II; Do 5ts of 1861 Il Ohio closed
at yesterdays rates. Kentucky rose Ii Phoenix Bank fell
J; Canton Co. rose j.
At the new board sales of Illinois rise of
! Government Loan at 1921 AN advanceofs
Mr. Ryan, one of the Illinois Commissioners for the
loan of 900 complete the Canal has been in
town some days. at Howard's.
The market after the board was heavy in consequence
of reports Of large amounts foreign orders sell stock
having been received Present prices are such as 10 a
ford handsome margin for such operations The Bar
ngs Morrsons aud Lsardi large holders of Ohio
at average o60 The last accounts they had of prices
here these stood at H. This offers handsome margin.
The stockholders in the Merchants Exchange Com
pany going to contest the bonds and perfect right
they have TO do. The directors called meet
ing of the stockholders thought it worth while to
consult them at ALL After they had expended the capital.
unbeknown to all but few in the Boar1 they took upon
themselves the responsibility of mortgaging the building
and thus creating capital of nearly wo the
Legislature had only granted the charter for the mil
hon. The stockholders rot recognizing these bonds, the
holders of them of fall back the directors and
claim to make them individually liable and certainly
would appear clear enough that such will prove be the
In Massachusetts, rigid accountability
the directors of companies held to- that question there
exists of their liability for all issues and above the
lgalized capital What complete burlesque legisa-
tive enactment fhc responsibilities of association for
expanding enc amount be doubled by calling one
part capital and the other promises TO pay, when the
whole amount is appropriated for and the same pur-
pose! We shall tickling that will take the
wind out" of of bladder men, and some of the
cash out of their pockets. The "packed" meeting
Wednesday has completely disguised the stockholders
The Office of the Western Insurance and Trust Com
pany OF the city of Columbus entered on the
ing ofhe I4h instant and robbed of the following Bank
notes, and property, viz -
American and Georgia gold, about $1,000
Notes on Augusta Insurance and Banking Com.
pauy, Brunswick Bank. Mechanics Bank oil
Central Bank notes. 47o0
Notes of Columbus Bank and other claims on
A package containing various memoranda of
moneys in the hands of agents, &C.. amount
ing to about 2,400
a0775
In addition TO the above, there taken var-
GUS packages held as special deposites, con.
tanning Bank notes. among which were the fol-
Package containing Bank Of Charleston notes, $4,000
do do do Darien Bank, $4,000
tanned probably 10 or 600 dollars
SYNOPSIS THE LAW TO ABOLISH THE OFFICE OF BANK
COMMISSIONERS, FOR OTHER PURPOSES.
SEC. l. Every chartered Bank is required the LIST
July, ls43 to deposite with the Comptroller their bill
plates with full and accurate account OF all the notes
suv notes NOT and h
troer duplication made to the comptroller for notes
faster than he supply them the banks may reissue
many ofthe old circulation as may he necessary. The
stockholders to be individually liable for all old notes
outstanding after July 1884, After July ls44, bank
shall issue note not countersgned and registered at the
comptroers Office. All notee issued prior July, ls43
and not counersgned before July 1884, shall on that day
be destroyed in presence of the comptroller, who shall
sEc The comptroller shall keep the plates. and de-
liver to the banks such notes they requiret an
the amount pow allowed by law. He shall employ suit
able persons to sign all notes which shall he registered
by the banks.
SEC. 8. Every bank shall make full report of its re-
turns the first Monday of August lS3 and quarterly
thereafter The comptroller shall publish all their
ports with summary in the State paper and each bank
shall publish its own report in newspaper in the county
where it is located.
Sea- The comptroller shall publish the reports and
summary in paper before the Goth August Novem
Der February and May in each yearexpense to be pad
by the banks IL any bank fails to make its report in time
shall forfeit $780, The charter shall be forfeited if the
report is not made in two quarters.
SIC: When shall appear from the reports that the
capital of any bank is reduced the comptroller shall
oblige to redeem its circulation to the extent
SFc. Abolishes the Office of bank commissioner
When the affairs of any bank require it, the comptroller
shall sPpont special agent to examine it, who shall
have the same powers the present commissioners.
the bank found delinquent shall pay the expense of
the examination Ifnot it shall be assessed upon all the
banks.
SEc Any bank on paying to the safety fund,
charter and all other liabilities maywind its affairs
and distribute its assets among its stockholders.
SEc Repeats all laws conflicting with this act
This law does not appear to afford any other increased
security 10 the bill holder than that which arises from
guarding against illegal ssues-such those pledged
by the Buffalo Banks. Here is then an apparent and
great injustice created nasmuch banking associations
obgedto deposit adequate security before they can
receive bills from the comptroller while the chartered
banks get them without security. Here is want Of uni
ormy at with principles of justice. The feature Of
quarterly publications is excellent and will be of great
service and guide noonly to business men, but all
other banks throughout the country.
Sales n the stock Exchange.