New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-08-17

Totsl...........................
.The Exchange market for domestic funds has an
upward tendency. LWge amounts could not be had
to-da, al par from the banks. The most of them were
only selling to their regular customers a. ms tas'
Time bills of good make would command II dicounti
other classes from / TO 3 cent discount. Nothing
doing in foreign, and rates we deem almost nominal
An active effort is being made at Boston to raise
capital to build line Of steamships TO run between
that port and Liverpool. Mr.. F. W. Thayer, of the
finn of Train X Co.. has been elected Treasurer aud
Secretary of the Company. The Company had
meeting on Tuesday, and transacted considerable
business. Mr. Bebee, of the largest importers OF
Dry Goods in the country, presidedi and Mr.. Upton
acted Secretary
The Boston Journal says:
Notwithstanding the falure of many of the Copper
Mining enterprises on Lske Superior the accounts
from those mines which continue 10 be worked are as
general filing exceedingy brilliant and promising The
Minnesota and Cliff mines are producing beyond al
auiicpstion and viii both make great prohts ana iat
dividends for years to come; OF inns hO reasohsOe
doubt can be en,erta ned. The Minnesota II Is est
mated will obtain 400 tuLs OF rough "copper" aud Tue
Cliff 600 runs while last year the Minnesota yeldel
but eco tups snd the Cliff but 200 tuus. The Clin
has single mass in sight believed TO weigh over oO0
tubs of almost solid copper lhe lslc hoyeAe WIZ sup
nearlv 300 tuus and the Ioec from lOO 70 lou 'unS;
Tie Totec have mass partly exposed IN their third
level 10 feet high and Is feet long, and nave hot
reocIed lis limits vet They have dr led into tne piece
at several points and find il pure copper II canaot
weigh less than 80 tuns. The Star mine Is making
Won, erful DEVELOPMENTS. The Norwich Is yielding
more copper than ever. The Sha Fmu has sunk TWO
shafts on a new vein about 20 fe-t each and mas got
out barrel work aud masses enough 10 pay an eA"eseS
without regard 10 stamp-work. Inc Lake SUPERIOR
mines will produce lar from 5000 uns pure cop
per in the year 1853
COUNTRY BANK CLEARING-HoUsE-w1LL 1T PAY ?
To he Editor Of fse v. a. iri5HHe.
SIR: A circular has been Issued to the Country
Banks by the Committee appointed at the Syracuse
Convention to arrange plan for a Redemption Office
In New York. II is proposed to receive at this office
the bills of the Country Banks, credtisg them less the
legal discount of ore-quater Of per cent. These
bank notes are TO be re mned to the Banks issuing
them charging them to their accounts less one fifth OF
one uer cent Each Bank is to deposit at least 80 900
as a capital TO conduct the business.
The total amount of bark notes IN circuiatt0R ac-
cordDg 10 the Report of the Superintendent, on he
2d of june last about SIS O00,OOO adding TO this
the circulation Of expired Chafe Cd Banks, not In
cuded Of about s450O,OOO, we have to'al OF BANK
notes in circulation Of S33 GOO 0O0. OF this sOOOOJO
are issued by the New-i York City Banks ADD a. least
8 coo 600 more by those Banks redeenlng at par IN
Ntw-York and Albany. This would leave so oOO OOO
in cir culaton which s redeemed ar one-quarter o. Que
Ter cert This is returned al least hve tunes each
year-makng aggregate OF 500 OOOO 600 that Is re-
deemed YEARLY az the various agencies Of the Country
Baiks These Banks now pay their agents one-el9 nj
OF one per cent ten shlings per thousand doars or
in the aggregate one hundred and treRy:t1e thousand
dollars yearly for redeemng tner notes. The Clearing
House proposes TO do this business for four shlugs
ner Thousand or $50 OO0-the Banks receiving n
profit of fix shings per thousand or $4,000. WITH
eood management and economy there can be no
doubt of the success of the proposed plan provided
all the Banks unite in the arrangement But unless
AT least rwo-tbirds of the whole number agree - DO
this the Clearing. House, we thlLk wll ian TO pay ex-
peuses even if il does not return TO the Banks dollar
of profit Ii but oue.hslf one hundred Banks unite
in The arrangement then but $50 600 will be sent 10
The Clearing. House yearly. OF thus currency, one
half will be composed of the Banks belonging 10 the
Clearing House Association AID Onc-haf 10 the banks
ou,sCe of the arrangement. All of this las. half must
be returned TO the agents hOU redeenlng them, and
from which the Clearing House Association VIII re-
ceye no profit; that the Clearinghouse wll
II ceive a profit on s55 COO 900 yearly. Tue ennre
lth of = cent on that amount is but s3l $50 The
interest on $500 OCO 10 be contributed capital Is
$4,000, leaving the entire profit but sl7,25O which
would be insufficient to pay the expenses OF the Asso
cistiOn.
Weare heartily in favor of carrying out the plan a.
uroposed and make this statement not from any desire
10 contribute to its defeat, but merely 10 show how
necessary unanuity and real of action are TO
its success. The profits resulting TO one.het the
Banks of ire State in he proposed plan, would be but
onf-jourfA of that which would result to the whole
number if united X