New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-03-14
THURSDAY, March Bpm


this morning. with disposition to operate The sales
Of Reading upward OF 4oO0 shares; Harlem 1900
shares &C. At the Second Board the sales OF Harlem were
also large reaching 1sCO shares Generally the prices
show an Improvement upon yesterdays sales The most
buoyant fancy was Reading, whi;h improved p cent
Erie improved ~ cent. Portsmouth /. Madison and In
disnapolis Canton l. Norwich FIN at 6S, and Mo
hawk at 90 sale of Panama Railroad at sellers option,
u month"; was made at IS Erie Income Bonds were IN
good demand and advanced 10 9Sa Converlibes hrm q.
GOT There Is a rather better feeling ia Bank Stocks
In Exchange there is nothing of importance
doing and the rates are firm. Sterling 9iG04 Francs SO
a5O71 The supply Of bills is moderate.
Freights are lower Cotton has been taken at
S-l6d4d.; Corn, 5000 bushels I'D Wheat 5000 BUSH
els private Desd-welght l5s Flour 10 I'D. To
Glasgow, 900 bushels Corn taken al Sd. To Cali
fornia there is a better business st50d60c.
There was an active demand for Money in the
morning. but the market aferward easier We notice
no change in raeS 1t being settling day with the Banks
added to the demand. Paper goes 1907 cent for first
class sixty day. aud p for longer dates Single name
paper difficult of negotiation. Loans on call are 6T7
cent on good stocks.
Another draft for 100000 on account of the
Mexican Indemnity appeared to-day and paid, the
coin going into the Bark of the State. dram for Sl450OO
in favor Of the Disturbing Officer Albany also paid
into the Merchants Bank The entire disbursements al the
SubTreasury are $S6oS2S Receipts $685. S6 Balance 3d.,
sSO29O.
The Bank of North America Stock is fall with
in $40 or $4,000
We understand that Mr.. Williams, the present
Cashier Of the City Bank OF Boston has been appointed
Cashier OF the Bank of The Metropolis
The Irving Bank is to commence business at
279 Greenwich the Gath inst The officers Edgar
H. LANG, freeman Campbell, David b. Moses, Marshall
Pepoon Abraham Frazee, William Rsdford, Geo. II. Bell
n r MrKenZia F. n. BlOd-
eetl D. Morrison VIM. NJ. Pulls, ii Hart. John Romer'
Directors. EDGAR II. LANG, President John Thomson,
Cashier
The Lewis County Bank continues to redeem
aiis counter Washbnrn Co redeemed them yesterday
at Albany The Utica Gazette says
The bills Of this hank redeemed in this city yester
day all DAY. by MesHs HOLSTER and Balau. $4,000 70
current bills yesterday afternoon 10 the bank at
MsItnsburgh There was letter received in this Guy rom
the cashier Of Bank stating that he would be able 10 re-
deem all the money thai could be sent on to him.
Hon. ]. c. Spencer has addressed letter to MIR.
Allen Chairman OF the Committee on Canals In the Assem-
bly, vndicsng the constuonaity Of the proposition to
anticipate the surplus OF the Canals for the pur
pose OF enlargement proposed In The bill introduced by
Mr. Burroughs
At Boston there is more ease in the Money
market, and loans are made with more freedom. Gail
loans are 90lO ~ cent and frat class Paper aGs6s r.
cent.
Small change is becoming more plentiful in Bal.
imore, and the premium 81 yer Is declining
The Casters Sentinel of the 18th inst. states that
the necessary arrangements have been made for commenc
ing the Delaware Lehigh, Schuylkil and susq1ehanua
Railroad The will be commenced on the sixteenth
mile shove castor short distance below the mouth ofths
Little Lehgh.
A San Francisco Banking House estimates the
amount Of gold shipped from California slace the fret dis
coyery in ls4s at SIS, 100000
A correspondent Of the Ph ladelph'G Ledger
says:
Pray. Messrs. Editors, explain how Z" Safely Faod
Bank" become "a bad concern" Your paper OF ihs
mernng says The brokers of The City OF wiz MOI
buy the of the Lewis County Bank now have been
under the Impression that The notes OF the Sssy euo
Banks always made safe by the Register Of the stale
Issuing counersened notes, equal only TO an amount OF
State Stocks which have been deposited with him as col
lateral security.
In commenting upon this communication the learned
financial Editor Of The Ledger proceeds to show that
Safety Fund Ba Ks may make bad failures, because Ihe
securities pledged to the noeholders hlctuae
value and msy not sell for sufficient 70 pay he notes NC
&c. The correspondent seems 10 have some lingering
doubts of the correctness Of his Impressions but the bunsoy
Of The Ledger writes with all the dignity oan oracle and az
fine really understood the subectupon which he writing
The anpshy Of the Ledger all Banks leads II easily INTO
upon the subject of Banking and becomes our suy
dpe its ignorance in this The "Sa'ety Fund sys
lem is the old system Of Banking Of this State ana me
Fund consisted Of per cent yearly contributions rom all
BANKS N the STATE Ims fund was pedscu iOt s"o TO
dempon Of the of broken Banks and was long ago
exhausted by he demands upon il The amount which is
yet due up the expiration Of the last Safety Fund eha
ter for the redemption of the scrip issued by the
Bank Department in payment Of the notes OF exploded
Banks. The Lewis County is Safety Fund" Bank and
has not dollar Of secprtes pledged for the redemption
its notes The Free Banking System is the new BSnA
ing System Of the State and under it al the notes OF
the Banls amply secured by securities deposited
with the Controller Soon afler the passage OF The Law
there were swindng Banks organized under IT, and
brought the system into discrodit by exploding
Stringent amendments have since been passed and tue sys
TEN now affords perfect security TO note holders SO
pie this security and such IL the entire eOuhdeRce Of the
public IN IT, that when the failure OF three OF hess free
Banks announced in the journals few days sncs and
Tor Day or two generally believed their cfculang notes
passed from hand hand with the same freedom ~ before
and the brokers bought them II the discount as other
uncurent money As far the note holders are coaeen-
present law Of this State
new Bank is about to be established at Fish
kll Landing, with q capital stock Of sle0oOO.
On the 10th inst 90 miles additional Of the At
lsntc and ST. Lawrence Railroad from South Paris to
Bethel Hill was opened with proper ceremony. This
unskes seventy miles Of road IN running order.
IL ia stated in the Bslingt0R Free Press Of the
9Th inat thai Judge Bennett has granted the injunction
prsyed for by Mr. Byron Stevens against The Rutland and
Burlington Railrosd Company to restrain them from pro-
eedng 10 construct the extension heir road 10 SwanOn
meeting Of the friends Of the Dubuque and
Keoknk Railroad wac held AZ Iowa City, AZ which two CON-
panies ere organized-low: the dubuque and Keokuk
Railroad Company north" ard the Dubuque and Keoknk
Railroad Company south" The first Is 10 build the inc
from Dubuque TO Iowa City, and the latter The road nom