The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-12-14
QuoTATIoNs FOR UNcURRENr MONEY.

ted in the most distant sections Of the country are lower
now than they have been at any time within the past
twelve years This improvement in the value of the
currency has been brought about by the liquidation of
many OF the banks considered nsolvent and the settle
ent Of their affairs upon favorable grounds than
anticipated. The advance in the value of landed pro-
perry and the increasing ability of those indebted to
meet their to pay have enabled many deunct
banks to pay all their liabilities and wind up more
creditably than anticipated 1t would not be very
prising if Of the exploded banks in some of the
southern sections of the country should be
into existence, and 60 again usual Almost every
thing is revving and the banks generally up as
quick any thing else.
The frst instalment the stock Of the Providence
and Worcester Railroad Company, amounting to
100000, has been paid in The construction of this
road, will open to this city very important trade
which has heretofore been attracted to Boston.
The Patapsco Bank of Maryland at Ellicotts Mills,
has declared half yearly dividend of three per ent
The Governor of Alabama in his message, says, that
in pursuance of the act Of the oath January ls4 ap
pointed Robert T. Scott Esq., agent on part of the State
to collect from the general government the amount due
by 1t to the State of Alabama for money advanced du
ring the Creek hostltes but that in consequence of
the Federal Government rgdly insisting upon the pro-
duction OF all vouchers relating the claim many of
which lost he is afraid that the State will lose no
inconsderable portion of Its just dues. On the first Of
March last $l600O being onohalf of the two per cent
fund, was loaned to the Montgomery and West Point
Railroad Company, for which the company gave its
bonds with security which been temporarily deposit
ted with the Cashier Of the State Bank.
In speaking of banking the message states that the
act Of the Legislature putting the Bank in quda.
tion made provision for the appointment of commits.
sioners to value the real estate owned that bank and
none have consequently been appointed. The act to
settle the affairs of the State Bank makes the duty of
the president and directors sell all the real estate be-
longing to the bank within the time prescribed by the
act The Governor has idea that all of it can be dis
posed of within that time and recommends extension
Of the time The Governor recommends the collecting of
the money duo the State from the different banks as
early possible without harrassing them and recon-
mends that those who have paid onehird of their debts,
should be allowed to discharge tho residue two equal
annual instruments, and those who have failed to pay
onethird, should upon paying the with another
third with costs be allowed another year to pay the
mainder and Also that the law requiring debts to be
presented against the estates Of deceased persons with
in limited time, far the debts due the banks are
concerned, well the statute of limitations be re
peaed In consequence OF the great expenses attend
ing the management Of the State Bank branches he
thinks that the appointment of agent in each agency
of the bank, in lieu Of President and Board of Drec.
n
great deal Of unnecessary expense.
The interest accruing upon the bonds for the State
stock in the Mobile Bank up to the year S42 was pad
as the Governor understands from the dividends arising
from the stock which the State holds n that bank Since
the period above named, however, the bank has de.
cned declaring dividends either individual or State
stock The interest the bonds, however, has been
paid by the bank and the paid is now claimed
debt due from the State that institution As to the
reasons for thus Withholding dividends or whether such
dividends il declared, would have been sufficient to pay
the interest which was due upon the tonds the Cover
nor is not informed lit is ascertaned that profits ac
erued upon the stock held by the State so that no dv
dends could be declared the debt thus claimed of the
Slate, by the bank is certainly just and its payment
should be promptly provided for by the Legislature
be the fact however that the dividends declared would
have been ample to pay the interest the bonds It will
be the duty Of the President and directors of that bank
to inform the Legislature of their for withhold
ing them, and thus making the payment OF the interest
on those bonds, charge upon the State This demand
upon the State certainly unexpected and the period
unproptous to exact from her the payment of inter-
est on the bonds considering her other heavy embarass
ments, and should have been avoided ifthe profits ar
ing the stock had been sufficient pay the interest
the bonds but whether the President and directors
have acted wisely and for the interest of the State as
well as the bank in Withholding dividends is for the
General Assembly TO determine.
The President and directors the State Bank have as
required in tho several acts of the Legislature putting
the branch banks in liquidation destroyed by burning
the present year. bills Of the different branches amount
ing to os6355 They have also broken and destroyed
the plates Of the State Bank and branches ageeably 10
the provisions Of act to settle the affairs of the State
Bank and branches approved January IS, 1915.
The amount collect ed under the provisions of the pre-
sent Revenue Bill, will fall greatly short Of raising
sufficient sum to pay the interest accrung upon the
State bonds. The Governor recommends that perma.
nent provisions be made by the Legislature raise by
taxation annually sufficient amount psy the interest
on the Stale debt.
Old Stock Exchange.
$1,000 Y City IS 1860 GO % shs Harlem RR 50
5000 fenna3 $50 III so do $50 g2
1000 Ohio rs 1904 so do 6iA
1000 - do sl2ms 100 30 Erie RR b30 68a
10000 Illinois sp BIDS 36s % l. Island RR b30 IS
1000 Indiana Sig BIDS T'a 30 do b3o 654
10 shs Union Bank . ZIG IO0 do $50 f5r
a Bank State q G,L