The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-05-23

The report of the bank commissioners saws that there
has been improvement in the condition of all the banks
since their last report The assets have cleared of
mass of worthless paper Large of real estate have
been sold and cleared out the losses carried to
accounts This overhaulng has cleansed the banks of
large amount of assets that has heretofore appeared in the
returns of the banks.
Since the last report the banking capital the State
has been reduced $2S3 l55, follows The Wndham
Bank has reduced its capital 900 by purchasing 1870
shares Of its own stock The Stamford Bank reduced its
capital $4,000, by charging bonus and losses and
reducing the assets to fair valuation The Middletown
bank has reduced its capital $4,000 by paying dividend
Of capital of $2 so per share the stockholders leaving
the par value Of the stock $5 per share The Mechanics
Bank has reduced its capital 5000 900 by credng capital
stock with subscription to the Pennington Canal Com
pany Since the reduction, the value of the stock has
rapidly improved, and at present rules high SIS to
$7S per sharehavng paid than per divi
dend and accumulated surplus Of $954O The Quine-
baug Bank has much improved since the sale of its rail
road stock and its stock sells at $50 $50 per share
The Commissioners further state that been ipos-
sble for the banks to find for all their means in dis
counting good and have reduced the rate of in
teres ve four and three per have
been made in good dividend paying stocks and large
ances have accumulated in the banks of this city their
favor, part (which three four per interest
allowed The due from banks and brokers in ths
CITY to the Connecticut Banks several periods is as
follows:
Aug 10, ls4a. Jan. q, le4A April Is. 1874.
$l,4s6,l26 Sl,l97,2s6 $l,l72,344
By this that the amount has been gradually re-
duced This amount for deposits in our banks and in
the hands of brokers in this city The has lately
diminished the banks have extended their discount line
at home compelling them to call in all the outstanding
balance. There is but little doubt that the connection
existing between the banks of this city and these of
necticut great of the simultaneous expan.
sion of the latter with the former The banks of this
city have deposits from all the Eastern banks and on
the strength of these deposits make loans An increase
of bank movements in this city and State, is likely to
produce similar movements throughout the country,
commencing with those most Immediately connected
The banks Of every section of the country have been
under restrictions for several years The commercial
classes have not for sometime been in position avail
themselves of any extension the banks might have
been disposed to make Tho time has arrived when
every individual is disposed to extend his operations.
Trade is reviving in every section Of the
try and the banks are anxious 10 let out the
large capitals that have been so long lying idle
Spectators busy getting up bubbles, and tho market
is full of all kinds of stocks Every element ID at work
All that is required further expansion of the banks to
produce times similar to that Of 1886. We find in all the
bank reports statements precisely like those given by the
banks OF New York and Connecticut geaera increase
in every movement is going on, and year two will
suffice to create crisis that will fall like avalanche on
| all