New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-10-31
SECOND BOARD.
THURSDAY, Oct. SOP. VI

ihlkSDA1, ONt SO--I. VI.
The street has been very dull to-day, but
holders of Stocks under the present ease in the
Money market are very firm, and quotations have ar
upward movement, notwithstanding the moderate
amount of orders in market. Erie and Norwich
continue TO be the fsvoi re Stocks. The closing
prices show but little variation from Yesterday, but
the Second Board was firm, and had any active de-
mand for Stocks existed, there must have been
considerable Improvement Government and State
Stocks are in better demand and improving. The
wires to Boston were out of order to-day, which
probably had some effect in causing dull market.
Drawers of Sterling are firm at 10 l0t,
with but little doing. Francs are 5l6sa5l3l. Not
many bills have yet been received from the South.
There are large orders for Cotton IN NewOrleans
for foreign account, but the difficulty Of negotiating
embanasses purchasers The market is, however
declining and freghts are less firm, SO that probably
there will soon be an active business The rates for
Sterling are 6ilaS y cent, alording good margin
for the banker who RENTS at these rates and draws
at 10 b cent.
Freights are dull day, as shippers were
waiting the arrival of the foreign letter mail. The
quotations 10 Liverpool I'D for Flour, Aid fer
Grain, ID for Cotton To London 500 tierces Bee
As 5000 bbs Flour sd, and 900 boxes Cheese 3Os'
To Hayre, Cotton &c. A Stave Charter to Tarrago-
ma was made on private terms To California there
Is fair business a. i5G60c
The amount received at the Sub Treasury
was Sal 1921 paid s32,l76 Balance s3,l7l,66i.
The American Exchange Bank has de-
ciared dividend OF p cent for the last moaths.
A semi-annual dividend of b cent on the capital
stock of the Mechanics and Farmers Bank Of Al
bany has been declared The Greenvie and Roam.
oke Railroad Company 81 y cent
The interest on the Erie Mortgage Bonds
due on the first proxmo, will be paid at the Office Of
the Company in Fireplace, Wes.st., between
Reade and Duane.
The telegraph brings us news of failure
in Philadelphia for 100000 Here there have been
two three failures in the last few days,
at least ascrbed to California Neither were for any
important amount
The largest Dry Goods sale of the season
came off to-day. and excited very lively interest
Mr. David Austen offered large line imported stuffs,
which realized better price than was anticipated,
and an advance of la Dc over the last offerings at
auction.
We stated day or two ago that the Me-
tropotan Bank was demanding specie of the Wall
ST. Agent of the New-York Bank" There was no
attempt to censure the Metropolitan for this, be-
cause of an undoubted right. but 1t has been thought
necessary to appear to deny it, and it has been done
very Iamey IN the organ of the Bank The Journal Of
Commerce, which says
I'VE notice a statement IN circulation to the effect
that the Metropolitan Bank IS demanding specie for
the notes Of the New.York Bank (or Banks OF the
agent in Wall-st We believe this is mistake, and
that where there is attempt to evade the redemp-
ton. bankable funds, other than specie, are always
accepted"
1t is not easy discover by what right The Journal
of Commerce lnterpolated the words " or Banks"
which did not appear In the original paragraph, and
which change the entire tenor Oft. We wrote only
Of the New-York Bank, an interior Free Bank, the
reteeming agency of which is In Wall-st., while
The Journal makes us write Of all the New-fork
Banks We will feel due gratitude 10 our big Union
brother If he will in future, let us write our own
paragraphs without volunteering his emendations.
The Journal however, docs not plumply deny our
statement, but "believes 1t IS mistake II could
have aseeraned In five minutes the truth, whom It
might have spoken with decislon-but then It could
not have denied the charge at all The Jowaaf fur
ther remarks, in abiding 10 our statement that
daily demand was made OF the Metropolitan for ac.
cess to the lis, of stockholders which was refused
We DO not know whether the Metropolitan has re-
fused TO exhibit such list upon proper application,
or not but If II has We no laH by which II can
be mulcted in penalty The clause in'the Constl-
tuition simply requires such list 10 be KEEP. by banks
corporations ISSUING notes Of circulation, the OBJECT
being to show who are responsible for the issues.
The law is based on this Constitutional provision,
and confines It's application expressly 10 such lnstu-
lions as have circulation for which stockholders
are liable As the Metropolitan Bank issues no notes,
OF course II Is not included IN the provision and those
xrho taken much TO raise the NlHi Will
have their labor for nothing.
There Is no clause in the Constitution making any
requirements whatever IN regard to lists OF stock
hocers but there is law Of the State passed by the
Legislature April 5, ls49, which does require lists TO
be kept as The Journal states OF the stockholders In
"any corporation or joint stock association for
banking purposes issuing bank notes any kind Of
paper credits 10 circulate as money 1t Is equally
true that the Metropolitan issues no notes but 1t
strikes that this category Is quite as awkward as
the other a, the above Law was evidently intended
to cover al The banks In the State. 1t IS thus EVIL
dent because IN Apni, 1915, a year previous, an
amendment 10 the Banking Law was passed, "h!ch
provides that
IAN banking associations an1 individual bank:
Organized under the provisions OF the Ac. PtsSeu
April 10. le3e, entitled an Act Authorizing tue Ou,i
ness Of banking, and the several Acls sug J;
usssed arnendatory thereof or which saaH DE- mere
after organized, shall be banks OF discount "hu &C.
posl. Gs t-sH as u CIRCULATION
1.-The Metropolitan is not bank OF circulation as
tn, Jaernai states then Il would appear not , have
met the requirements Of the law ana If II be bank
ofcirculaton hen i should certainly keep Tor pub
lie insoection lit Of iis stockholders.
We have recently noticed in several
journals What purp5rts TO De statement, OF the
relative Lex tbs Of tao proposed Railroad routes, be-
-. -. ~ ~ NJ .Nnrk and Chicago one by