The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-10-13
CounERCIAL AFFAIRS.


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Honey MAR x EFT.
TUESDAY, Oct. l2-sPM
TAas astivs demand fbs I'll the Leading fan
ss dsy. and inprovs0snt rsslsed throughout
Cumberland Goal Company, Erie Railroad, Dauphn and
Nicaragua in demand the transactions
At the st board Nicaragua Transit advanced per
Cumberland Coal Company X; Reading Railroad y
Ncrthsn Indiana Railroad, 4; Stonington u; Norwich
ssd Worcester, X; Erie Railroad, x; Montgomery Min
ing VI Hsdson Railroad, y; Edgeworth, y; Pennsyiva
mia Coal Company. X; Harlem, X; Long Island, Y.
North American Trust. declined 4 per cent Canton
0onpaay,x. At the rscond board the market was not
buOyant and lower prices ruled Holders not being
Disposed to make concessions the sales only to
limited extent
The receipts at the Office Of the Assistant Treasurer Of
sAir port to-day, amounted to 1910 10; payments
$56477 20 balance So 1904 The Treasurer gives
notice that three pieces in parcels of SIS and $30
are ready for distribution.
The returns Of twenty six banks for September COM
AIRED with those the June previous show falling of
the amount OF specie hand of 1854 49, and an u-
Grease in the line Of discounts Of SO, 2o4, SAT.
The Developments frequently made of Wall street
6nsnciering through examinations before the police
magistrates ut the Tombs Of the most astounding
chsracter-not much on account Of the amount Of
money involved for the facts which transpre relative
the method conducting business among the bankers
brokers' and fnancieis generally appears from every
Investigation held after the arrest Of the defauter
the defacaton il spresd several years That for
long time the process Of extraction has going
until hundreds of thousands Of dollars squsn
deIed in specuatons Even after such immense OF
money have been appropriated to such purposes the dis
coyery Of the loss is generally accidentally made All this
shows how loosely and careessy business In Wall
Is conducted and have doubt but that at this
Dent individuals holding places of trust and response
bility engaged in a similar system Of swinding
Another expose may not be made for months perhaps
years but the next when made, viii show that We are
correct In our anticipations We do not propose to
point out any remedy for this There
only and that lie known to every banker and bro
ker in the street strict supervision Of their own
finances and financial operations the only way mode
rate the temptation which extravagant and
specializing clerks and employees in banking houses
have SO continually before them.
The mail steamer Illinois from Aspinwall, with the
California mail Of September It, is nearly due at this
port. The steamship Golden Gate at Panama from San
Frsncisco brought down about two millions of gold dust
Of which will arrive here in day In the
ste amshp Illinois from Aspinwal This amount of gold
dust will be very acceptable the banks just this
time.
The wild cat paper currency Of Washington D c., has
about had its day. Some time ago cautioned the
public against the Of the bogus banks Of that city
and those who have been foolish enough to take such
worthless trash deserve no pity. If the public would
from the first refuse have anything do with these
swindng concerns they would not get such foothold
in any community and the people would not be
tensvely cheated 1t really astonishing how such in
situations get their paper issue into circulation We
have within the past ten fifteen years had hundreds of
these fraudulent put in motion all Of which
bay aftpr n me cola by hu nd
dollars have extracted by these swindl
ing nsnciers from the pockets Of the poor laboring
classes Notwithstanding all this and the exposure we
have made of the system Of banking pursued by the
unprinciped individuals who practise it. it appears just
"a easy get up such banks it ever was. The
public by experience 1t may be, that the
same victim is caught second time, but in a
large community there always enough unnitated to
furnsh fresh customers to these modern bankers Then
the Metropolitan Bank made such flourish about
gulaDg improving the paper currency of the coun
try; thought that the age OF wild cat banks had
passed. that hencecrth the paper currency Of every
State in the Union would be purged Of anything tainted
In with egitmacy. We have been disappoint
ed The Metropo Bank attempts to n ulate nothing
that able to regulate itself. In other words, 1t
does no. touch redeem the bills of any bank which is
mot perfectly sound and solvent. II bank Is at all
doubtful the metropolitan Bsnk will have nothing to do
with it. leaving the community to be swndled to the
fullest extent The Suffolk Bank Of Boston has differ
emit way Of doing business altogether 1t is compelled TO
receive and redeem the bills Of any and every bank so
long as they pay specie at their counter and until
fussi made to such bills in specie they
rent through the Suffolk Babk. If the Metropolitan
Bank Of this city had adopted and carried out this
tenn should not have been compelled to record the
swinding operations Of certain banking fnanciers in
Washington. We have at this moment, within an hun
4 milo NJ n If hauk not
whit better than OF the Washington banks-notwith
standing which the Metropolitan Bank makes effort 70
wind them up Instead Of protecting the public against
these bogus banks 1t is engaged in sighting of the
remote western banks for the purpose Of compelling
them redeem their bills the counter of the Metro
poliisn and keep large deposit in its vaults In the
meantime, the community is being preyed upon by set
of most land sharks In the shape of bankers and
those who the power granted for the express pur
pose of protecting the public, look quietly without
making movement to the poor from this nest
of swinders
We list OF the banking institutions OF the city
of Washington, and the present position Of EACH
BANks CRY WASHINGTON. D. c.
American Exchange Bank, Georsetown-not known, no
place Of redemption.
Bank OF America Georgetown; George Smith President
Issues only 6ves in Wisconsin.
Benk Of the City Washington-closed.
Bank OF Commerce. Georgetown, ID. C.-current at all
banks. and considered equal to any.
Bank Of the Metropolis Washingten-od; above all
suspicion.
Bank Of the Republic-a New York branch bank
Bank Of the Onion, Washin gton--closed; suspended
Bank Of WashDgton-one Of the old chartered banks
Central Bank, Washington-not known no place Of
redemption
Columbia Bank. do. do.
Citixenf Bank, do. do
City BANK Bradley President; circulation with I
1rswn.
Eastern Bsnk Of Washington, New York branch-rc- |
deemed the Potomac Savings Bank.
Empire Bank, Georgetown-unknown; place OF re-
-demption.
Exchange Bank Of selden withers Co.-weu known /
Farmers and Merchants Bank Of Georgetown--one Of
49, l.~4a