The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-10-11

They usually drawing In their stock loans
about two or three weeks previous to quarter day. but
from present Appearances should Judge the govern
ment Of these institutions considered the best policy to
keep out every dollar they have loaned In many in
stances the banks have obtained little better rate Of in
teres than the capitalists in the street. and should they
draw in these loans merely for the purpose Of making
favorable quarterly report IL very doubtful whether
they would afterwards be able to put them again on
terms equally favorable. There 10 too much compe.
tition in the street to make such movement polite md
the dangers too apparent to risk with impuny Gap
tal from other sections of the country large amont
has for many years past found employment in this CITY
and we have no doubt but that the great difference in the
rate oil interest In this country and Europe will bring
into markets large amounts of capital from the other
side-the employment Of which, in this country would
tend In great measure towards engenderng speculation
and over-trading, resulting in bankruptcy end ruin
Inc National Insurance Company OF Boston have de.
clared semannual dividend of ten per cent payable on
demand
The Manufacturers Insurance Company Of Boston
nave declared dividend of 10 per cent the Hope
the mutual system an interest dividend Of per cent
The Consul General OF Brazil officially declares h,t
the new decree Of the Brazilian government in relation
to the tonnage Dues goes into effect the 18th day of
November next instead of the 9th of the same MONTH a.
has been published
For the week ending Oct the increase in receipts
from freight SC only amounted to seventywo dollars
The recent decision Of the Chancellor in the case
the NorthAmerican Trust and Banking Company has
created much Improvement in the stock might have
been anticipated The question finally decided yet
and that account stockholders spectators may not
have so much confidence they otherwise would The
decision Is based law ami equity and
to fear any movements that may be made by parties in
terested in the Every trust made by the company
10 declared null and void The history OF this institution
is pretty thoroughly understood by those familiar with
banking operations in this city, and is quite time the
difficulties growing out Of the movements of the bank
should be settled and those entitled to dividends from the
assets receive them Enormous amounts have been sacr
feed in carrying this concern and many have been
stripped Of all they In the world by those in
whom the greatest confidence placed. The banking
business of the company was very trHng the whole
amount of notes received from the Comptroller did not
exceed and Of the immense amount Of State and
other stocks received by the bank only $500
sent to the Comptroller security for the circulation
This is very good evidence that the banking business
Of the company was merely second consideration,
and that specuations in stocks formed the principal
portion Of their operations Every sacrifice submit
ted to, to raise money to carry the speculatons
menced and the little capital the bank had
swallowed The Bank commenced operations in July,
1885, with nominal capital of So O0O which was soon
after increased to as5 OO0 with power to
$5oooo 600 The capital consisted principally of bonds
and mortgages real estate within heSate of New
The first operation after the bank commenced business,
was to purchase $l,OO0,e0O of Arkansas State
Bonds. This purchase followed by others
in 1885, 1889 and the early part Of 1910, Of Arkan-
sas, Ohio, Indiana, Alabama, South Carolina,
New York and other state stocks. amounting to
$4,000 These stocks were purchased credit, the
officers othe bank issuing. in payment engraved negoti
able certificates of depose post notes payable long
time after date and in NEST these purchases were
made speculation for the purpose raising, by the
pledge sale Of the same funds the Of
company To illustrate the mode in which the company
raised or borrowed money we a statement ola