The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-06-06

Independent Of these items. there according to
he last returns Safety Fund stock and Safety Fund ct
Of Board of Control 81 O34 $685. State tax during
asst SIX months SIS $50; undivided profits surplus
und $50s734; bllspsysbe and time drafts, $s48 2S1
dividends unpaid $2l6 49, other liabilities s607,720
Since May last, there has been an increase In the
inc Of discounts Of So 2t l03 In specie $344 COL and
decrease In deposits Of $437 ,5I5. Within the
period there has been increase in the capital stock o.
hese institutions, Of $7oo667 The increase Of capital
small compared with the increase In the line of dis
ounts the loans being according to the latest returns
more than double the amount Of capital Tho proper
lion Of specie hand to bills in circulation, remains
without any material alteration. We do not see ~
these institutions have strengthened themselves ct all
during the past year.
Since February, ls4s, the movements In all the
beading departments have than doubled, and the
expansion gathers strength as 1t goes While
infation has been going in tho line Of discounts
croSlation, specie, and deposits tho capital paid In
has been reduced. The system upon which the bank
ing movement In Ohio IL established, 10 by .
sound one, aud its existence depends entirely upon
each institution being kept within proper bounds. We
hnd in this State it is impossible to prevent sxplo
sion under system much sounder than that Of Ohio
However safe q system may be if moderately expanded,
by means follows that it will bear any amount Of
tension; and the most perfect system invented
bubble When the safety fund system Of this State
was adopted, 1t considered, by tho most expert
enoed fnancers Of the age, the most perfect
established Its operation, for many years. gave uni
versa satisfaction, and institutions formed under Its
provisions enjoyed the highest credit and their paper
issues considered safe the gold itself This
suppression continued until many Of the banks failed
that the fund formed for the liquidation of their liza
bilites proved insufficient for that purpose and the
49, ~Ho;~. ul1&
stitutions more thoroughly than ever before The
result Of this examination fatal to the SYSTEM and
another general In its character simple in
its provisions certain in its security and unlim
tied in It's application. became the avorte and must
ultimately become universal in Its operation The free
banking law Of this State the fret system Of the
kind In this country 1t has been in
existence about eleven years and the public have been
better protected by It than by any other The Legs-
AZURE Of Ohio, Few years az. adopted . banking
eysten somewhat similar to the ire. banking system Of
this State and with few exceptions all the banks Of
that state have been established under that system
1heapnexed statement exhibits the amount Of In
surance on property recently destroyed by fire In st
Louis and the ability Of each company to meet Its a-
bilitts derived from officer Of one Of the St.
L euis companies This includes only the local CON-
panies, and those having agencies In that city
Loss .pr Fmx AT ST.. LouIs-Amourr OF Insurance.
Citizens Insurance. Company S2oo'0oO-wiu pay DO
cents on the dollar
St Louis insurance Company s2loyooo-will pay 50
cents on the dollar.
Union ins ursucs Company $500 pay 80 cents
on the dollar. ..u...
Floating Dock Insurance Company $eooVo-Win pay
PERPETUAL Insurance. Company ss0ooo--wn pay up.
Home Mutual lnsuIahcs Company Ysoooo-will
Marine Insurance Company SIS OOo-wiil pay up.
.dgencies. 40
.ColuuLus fOhfo, tneursuce Company S1l0OO0-Wtu
Protection and Etna Hartford SOS ooowill pay up.
Hartford Fire Insurance Company Soo,ooo-wih psy
Tepncssee Insurance Company $4,000 will pay up.
Three Louisville Insurance. companies $l50oov-Whi
Lexington Insurance Company, Kentucky, $isIooo-
ifsnkin insurance Company, Philadelphia, saso,ooS
will pay up.
Total amount OF insurance by local oomps-
ro,ai ,,mou.t Of ansor.uos by agencies. salSoS
Total. SI,o5I 00t
II IA estimated that there IL insurance OF about
100000 In Offices In Eastern cities that had
oes In st. Louis. The aggregate amount Of insurance
will not fall short Of a-haf millions OF dol
Hars moot Of which will be- paid
Tn. Chesapeake and Ohio { anal will without doubt
Vie opraed or at ell events completed. In pursuance
,of the contract made with the company In October
mart O. tn. opening Of tho portion Cumbsr
land now In active construction the line Of nAviga
,,or will he oomplets from Washington Sad George
town ~ Cumberland, . distance OF lSIk miles. rh
osnai ard looks ample dimensions with ELK fee
depth water adapted to the transmission OF boats
AGO iona burden At Georgetown branch csnA
-orosssng the Potomac by magnificent aqaoduot er
sends the line OF navigation to Alexandria aaa sasIhe