New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-09-13
Npw-YoRK DAILY TRIBUNE, SEPTEMBER 49,

~ cour,e Of ,rade and exchange win Ine faA'''
,,.hAx of the branches OF the State sank OF III
d;s,, not being With Cincinnati, they oechnoo
oo,ri,o tn the arrangement: as they were urged
t. do bv the Association, being at all times Wiling
- -o6oern their notes at their counters with coin
-, mr. exchange from ! to premium, beng
eb1nt the cost Of transporting coin TO New YoEA
A consequence Of this refusal vas war Oh extef
min alton on the part Of the associated ONO banks
oaoir.t the Branches of the State ank Of Indiana
Their circulation has been induaTioualy gasne rel
M and returned on them for coin by the Assooia
ton to the amount OF half q million OF dollars, n
short space OF time, creating bad state OF ing
between the parties concerned, and retaliatory
measures on the part Of the State Bank Of ladianA
The consequence is the Indiana B anks ara COM
PEELED TO reduce largely their discounts at time
when money is greatly needed, and keeping intheir
Issues for fear Of their being Immediately returned
for coin. The Indiana Banks think the sole object
of the Association vas to make them tributary to
Cincinnati Tor the benefit OF the BankS OF tdst city
by forcing redemption of their circulation there
inatead of at thsir own co0nsera. The effects Of
theae movements, we learn, have been Injurious TO
ticularly Interested whose capital is scarce and Sd
much in demand We believe no Banks in the
West are more solvent or bst!er managed than
those Of Indiana The following action of tue Di
reotory of the State B aux of Indiana shows tina!
they are likely to pin with the brokers in their
crusade againat the OHIO Banks;
Re,oped That the Ohio Life Insurance and erui' Com;
psny IN stulnng agency Of this Associated bsoh. o
kCsti Ito al
10 the sac Sank Of ndiani, ana OF hli account II sH
be The duty Of branches Of 1ts 6auk having deposs
IN hs Company 10 Withdraw suca aepoes T.aia III az
next !hY dsya and, ss so9n ~ ? s;tcslIe ~ 81
correction win her witch s not recsaay lor h5 con'e
nience Of their customers. bo, ore
PsoEeed Thai the counters Of the respective Dffncnes are
he only proper as they the ony legal pRces o[ VIC
redemption Of their notes and thai ausn t9s s1Ie and
The OHIO Agency or any ncsne In''l'ui0-' 'f'' 49,
Bessired Fhst any arrarg cement permanent or tsmpo
~ rsdeerI fheir roter al the Ohio Agency vita ex
cbenpe ia trcor ssep with he dignity OF The SANK ana
ierds 10 tributary to Cnclnnah ano nef bAnAs
Reoscd That as l'ng the Ohio Agency continues is
preienl operations The Branches OF Ais SanA Dc ~
- cir v8UltIby specie TO be nbSlned
nI Cincinnati and that The importation Of coln from ms
East, fer such puTpoie, is Of douotn eEPtdlsncy.
Re,cped Thai Il be recommended TO the dlh@rent
Bfbrches 10 give circulation az far as prac!icao 20 a7
notes such Weoern Banking lnsiitItonI Ia COCA stna
If SO 81 not connected with he Ohio Agency ad TO
cooperate with hemia such 1neasue1 as nsy aes saV'a
bic 10 resist heir sPgressonE Test
JAMES Nj RAY Cashier State Bank Indiana
The business OF the Reading Railroad for Au-
gust proves to have been exceedingly large not
withstanding the Considerable interruption coca,
stoned by the freshet, which caused nearly or
quite week 6 suspension OF business The tun-
mage was 1874 $50 tups, against only 95936 tuna IN
july showing al increase OF SO 3l4 tuns or over
60 q cant. The comparative business with July
was as annexed: