The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-02-25
other previously in operation The American Ex-

other previously in operation The American Ex-
change Bank has stepped between the mercantile
community and an institution, and afforded facilities
for the redemption of the issues of the most remote
banks in the country, at rates which will save a
great deal of money. The course pursued by the
Metropolitan Bank made it absolutely necessary
that something should be done to save the public
from the heavy shave extracted from them. The
American Exchange Bank came to the relief OF bill
holders and we are now in fair way Of having
more equalized paper currency, and less distinction
in the issues Of banks in the different Western
States. All the advantages the Metropolitan plan
guaranteed are secured by the American Exchange
Bank, without any of the disadvantages. We have
been subjected to all sorts of prescription. The
Metropolitan Bank would not receive the bills Of
certain banks upon any terms 1t selected banks near
homeland shut out all Others ANY bank OF doubtful
character they would not touch, but left it to
foist upon the public its bills to any extent,
without making the first move to prevent it.
Instead of compelling the poor banks to improve
their condition, and give their circulation better
character by receiving their bills and present
ing them for redemption, the Metropolitan confined
its redemptons to such banks as one doubted and
The American Exchange Bank shuts out no class
from the benefits of its cheap redemption. 1t takes
uncuirem money from all who choose to deposit with
them The bills OF al good, well-secured banks that
open an account with the American Exchange Bank,
are redeemed, without regard to their location We
published list a few days since, of the banks in
Indiana Illinois, and Michigan, regularly taken at
the American Exchange. Since that time many
more have been added The organs Of the Metro
politan Bank appear to have holy horror of the
policy pursued by the American Exchange, and are
loud in their complaints This is not surprising for
the Metropolitan finds competitor, or rival in the
American Exchange, it did not dream of.
The following resolution was submitted by Mr..
Fairall to the lower House Of the Legislature of
Maryland on the 10Th inst, and unanimously
adopted
Resolved That the President and directors the part
of the State Of Maryland, in the Baltimore and Ohio
Railroad Company be- and they hereby requested to
inform this House ut their earliest convenience whether
the said company have made any contract or arrange
ment with the Cumberland Coal and Iron Company for
the transportation Of COAL and if the nature and
character of said contractthe quantity of coal to be
and IL saa tho sa iS s
road company have made for the transportation Of the
coal Of other coal companies and whether said railroad
company have refused to contract with coal companies
other than the Cumberland Coal and Iron Company for
the transportation of coal.
The management of the Baltimore and Ohio Rail-
read appears to be getting into bad repute. Since
the road was opened to Wheeling the greatest con-
fusion has existed throughout the entire line. From
present appearances the coal trade of the Cumber-
land region is likely to suffer seriously for the want
proper facilities the road for transporting the coal
Offering. The above resolution will bring out some
Developments. The management throughout is de-
fectiye and nothing short of thorough reorganiza-
ton can remove the difficulties.
AS it may be of some importance to those interest
ed in the old Commercial and Railroad Bank of
Vicksburg we furnish the following information of
the railroad business, derived from an official
source -
1.-Cotton receipts on the road =
Sept to Feb 1s4s49 1S49-5O 1s5O51 1852 1928
Bales Al 26O 2O,04o 47,16S $3.50 796O1
Number of tickets sold same date =
1O,459 1924 1898 1854 20 0s5
This looks like large and favorable increase of
business
The annexed statement exhibits the quantity and
value of certain articles exported from this port
during the week ending and including Saturday
February 10, 1883 distinguishing the destination and
extent Of shipments to each place.