New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-07-21
Bsph alluded to in the money article Of TIE Isds-
L., in The annexed paragraphs

oa i'al Of al least nJ0 00O but the public w IN no
be her, Il ed by any movement which shall result
IN ANYTHING less than this The e1pedmsst OF start
ire small tanl bss of late in majority Of instances
rroved failure. Those which have survived the hard
times If tie pss' two years in the condition OF
sick child which requires constant nursing. Years
eco when the wants Of TIE community were snall,
hank IN Nev-lork with q, coo, 900 capital was then
OF w considered far, but sueh an institution ths
siGe of Twcnfieth-s, II almost unworthy OF n0uce.
'Our wealthy citizens ano heavy busin, 90 firms W II
not psirorze Rem m any impor ant extent. Rents
ard Other expenses almost large for small bank
for ose of be largest class only second class OH
GER ard Dir cors. II will he noticed can be OBTAINED
for a secord-csse institution. Men In large business
cal not afford the time necessary Directors 10 keep
sm j concern in operation There is neither pleasure,
m H. nor honor Ia such labor The idea of collecting
tog, theT, wife q reek fifteen twenty persons, IN
eludii oficers and Dr-ct"rs 10 loan few thousand
Soars il ridiculous of time. Several Of orr
large private bankers and frst-cless commercial
lousts transact business 70 the extent Of millions GER
an UNI and Il whole is supervied IN each case by
only two or three indyduas The work is done quite
os uell and promptly in any Incorporated ins1tn-
ton. II fact is that Bank now 20 command busi-
ness in New-iork must have large capital. Business
ueu will not be attracted % any other. II Is true also
that second cass uptown Banks are under the ne
cesify Of receiving majority of secoHd-elass paper
! Although in the main correct we eau by means
fully agree in these sweeping statements OF the writer
Of the above remarks. II is not al all certain that
Bark in The neehtorhood of the Park is not sufh-
GENTLY large with capital OF million. It's dealers
would be mostly jobbers and ether classes OF con-
psrstve, moderse transa ctons and two millions Of
catital With the consequent deposits, might be a
larger aggregate than ould be probably employed.
/ The statement of The Independent, that the small
Banks which have survived the hard times Of the last
twoyears, are like sick children, and require
slant nursing is untrue sno very unjust TO those inst-
tutons We know several Of there Banks which are
as sturdy in wind and limb, and as little likely 70 need
aid or nursing the great institution which The In
DEPENDENT writer assists in managing. We also deny
tia, uptown Banks must necessarily receive second
class Paper and we venture the assertion that the
loses Of well managed uptown Banks, such the
Nassau Market, Pacific, &C.. proportonately no
larger than those of the Walst Banks. Indeed it lie
generally admitted that the paper made in small
amounts by manufacturers, mechanics shopkeepers
&C.. such generally offered at the uptown Banks
is the safest paper which can DO discounted We
have made these remaeks because we felt that the
sweeping statements of The Independent were not
OILY inudicous as exciting suspicion against whole
class of sound and useful banks, but were also eer-
tainy unjust We think that the "sober second
thought Of The IRdepezdent writer would induce
him materially TO modify his remarks.
The Transfer Books Of the n. Y. Central Railroad
Company will close the 2st and reopen the 9lst
of August. As we stated weeks since, diy
dend Of y cent will probably be made while the
books are closed, pay abe in each.
The following Roads were represented at the Rail-
road Convention which met at Buifaoon Wednesday:
Bo,ton and woreerer-H F. Sargent, O. Twitch.l. New
Fsile, }. Ii. ctede o Gray. Nsw.YOI. and Edo-D; c
Mccollu~ Il Ram.ael W 3 skilmOre W E Dodge, chas
land ard EIeLAlhed Kelley Ti;Sp Charles HiskoH
Sou hernJsmes Moore, Sam Brown Burlington and Quincy
}. w Brooks GrsAt = e'ten-C j. Byds-s Michigan
I. NJ Hubby, 4. Stone JI Lite Mis@i-wm; Dennson; w
Mad River and Lske Erie-E. Ro.bone. Ohio Central
!. H. sog'hwiek steubenvlle and lodinaIW; b. Hub
Pies Line Stssme-i Newton Buffalo and Corni2s-c. O.
NIL, Western tys;,>Jsspy Gray Thomas l. Green Green
town. Column Buffalo and Detroit stes@sr:,c. B;
ccvssnd stea%eT-D 'i sic6mond A. Stone, j.
Mr.. q. Twichen elected Chairman, aud the fol-
lowing Committee appointed to prepare business for
the Convention:
Sargent Richmond, Medium Dennis, Hickox,
Phillips, Moore, Bridges Brooks Stone, Dennison,
Hubbard L. Hommedieu, Osborne, Southwick, Sloan,
Newton, Miller, Green, Stockton, Columer Swain,
Forbes, Stone
The Erie delegates afterward withdrew from the
Convention, We presume on the poiot made by the
Central Company that the Hudson River was
natural advantage which they had the right to
n earnings and Hsrlton Road for the
ntbs ending June 20 e6
For the correspond, months lsst yes......... So e6
Showing gain between the receipts of the periods
DISK months,
The new Board of Brokers, TO which we alluded
TO days since, is not yet organized, but consid
cradle number of persons have Joined il, and these
have TAX en- fine room on the first floor of the building
next the Com Exchange Bsnk in Will ,m-st. The
details Of the management are not ye, settled
lot of 293 bags of corn has been brought into Bos-
ton from Africa il is like our Southern white Corn,
though smaller.
Cotton, since the steamers news was received ID
unsettled and some sales have been made at &c. de-
cline Generally, however, holders refuse to submit
10 this decline. Wheat is in panic and the decline
in the last few days is 2j Soc y bush. Flour of
common grades is also lower 25a37lc. q Dbl, aud
Corn is heavy. Provisions are without important
change.
The market for American Securities IL reported by
Messrs. ID. Bell Son Co.. as presenting no striking |
change. The supply of State Socks continues limit
ed and not equal to the demand-a circumstance
much in favor Of the various Railroad Securities in
which good business is going forward, with every |
appearance Of its continuance. This firm give pres
ent quotations as under, viz:
O. So cent Inscribed stock 1853 S5 S5
Newly ork STATE 2 cents sjS-s50. 500 %
fennsyivsnia : cent Bends asa IS
Massachusetts, Sterling Bonds 1868. C34lo5
Maryland g cent steIing Bonds slg "
Virginia cent Sterling bonds .lSss So -
cent Bonds 1885,. Sy0 30
Canada Sterling Bonds 1876. Ill 9l2
MOI tresI Ciy 9 cents S5g 81
Erie let 1855 So. 10 02
F e: g @s,lssss: s sa g
Mr.. Satterthwate's Circular says:
The for American though
Sts'e Bonds there much les business thsn Railroad