The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-01-18

can be furnished nan s ING .S. nus !" our Sssse:
But II arises rom INC nv 'a' h sas1s are NOT, =,
all times cssn s .' N no LsAes, anu wiz
not, in stringen. .es anu Mnen snerv II pressure
Tor money NO mater to vhat sussmt PPhs ss,,s
forced saie, ~ S~. " wn~s eASn. sno sai1e
o. me n,gs nay r.s Ems; ns s
o. .he n9 $50. me Palcnssel sucn umes can 40
sna guy mortgages =, ra.e az when ne can only reaze
ne amount ne aovances wiln in.erest y mas tnere.o,e
zen oua .nA' Mus. IN Al suGn cases " sou
amGou.S ~. olmceity can % reaaly oovasso y
49,. c.ne no ca.eua.'on - - issuu 9Pon NOR SaSos "
ckuy PEI cens u tner smount ihsssao y par anu Pr
m.ane mem 20 % taken upon armne lanes 70 tue eA
tsnt o. one-nan instead o. twcnns Q, Insr ue' cx
ciusve Q, improvements. g now pronaeo ~ a~ Inc
margin nus reserved IN inc issue Oh ccoNxt'on wou,
except In very Extraordinary cases iurnsn an ample
guarantee ,nst an smount sencsn. 70 cover Tue ccu
ation would be realized ct forced or any other ssle
The greatest loss sustained upon mortgages ma,
Usually oeen upon snoss G.vefins , vMso IT, rha
cay os , he Isnds az ,rsh Il Arm and stable
nrins and not fictitious and furnishes an aounaant O.
curiy for one halt Its far valuation On the otter hsnd
village and city lots bear more OF nctous IMAM intn-
SIC dependent upon the current OF trace or aocy
both OF which are liable to huctuaons AM 50 constant
nuctuang as 10 make the oesiraDe properly OF o-uy
the drug Of tomorrow such property, therefore, by
reason OF It's hucfuatng character as 70 price, ana us
form the safest or best basis Tor mortgage security
cabnot always oe renee upon e'ner at sae or
mortgage foreclosure to farnsh remuneranng return
for the investment The superintendent Therefore re-
commences that the mortgage security DC nmised 10 Ia
proved ana procucve farming anas, ana .ns amount
the investment controlled BY their value Is farming lands
for farming purposes ri.
skStHIits 10 H phfosiikp III AssouAiioNs succkDiSG
NcoRPoRA1ED RANKS.
Inc Aehiature IN loss LOT tne penehs o tne STOCK
hoeers OF incorporated banks whose acts OF in;of-
poration were aoont expicng ana 70 an,rd IN IN
an easy transition rom one System OF nanA-
ing TO the other ny chapter ai3 OF the laws o tnAt
year, relieved them from the immeoiate operat on o.
those provisions OF the general oankng law wnch re-
qure the deposit Of securities by banking association
10 the OF before commencing tne busi-
ness OF ospkng and authorized the superintendent 70
issue notes 70 them IN amour no. less tnan
SlOOOO upon Inc deposit OF securities 70 the amount OF
the &c, circulation thus issn .e
rary exemption and they evidently contemplated that
such associations should wmn tnrte Yeas deposit tne
OF ecu,ues' anu aSe On par WIN
oher banking associhlons Inc statnte aier Rng .,le
authority as aeove stasd 70 .ne lor ane
Issue OF notes provides ma, sucn & sssoSa
inteneent curing me lnee years , nA. ~o"s sne
oats Oh tneie aruces o. assoIls"oI an a sh
ing associators as security circulating nstes pre-
; oa 70 I; us ~ a.as b tsss,t ue
:, p das;,sd ma.;, su.h assoo;at; hs
r,;sT ,,i ,h rroy;s;on. Of tho !, ,nwa rsc;,aa l.;
t; :. 49, . 3 a.s;.r ~ ~ a. so,;.aa ~ ~
nma - ~ ca;ta asUt ;, Ssva-.i Z, +na h,rl;
thus formed more than three years ago be
the ~ nave neglect
sd ~ couniv Win The ntenton ano renmrement ri tha
and have not deposited the reoure
of sacw,;,;as
The oniu rower o;vep tho Suner;ntendsr4 IA orf,rc
comnancs II to vi1hbod the serest on the secrss
and This h.s heer done in avery ;nstarca The
repaItv bow.var Is If 80 s;rb cnsIacer smnv the
oss of Tho nse NJ The intare. Tor time itont anv e
strct;on u,0n or with snv other ri0bs or
privileges that is Of no avail and The eno
ans n,eer inenrrno the nsnatv for
With tbe law To hrne;no Them "a ves ~ithn III
80 Tpa Ia s;n E,r,tad 90 ,n,aa ~.
exensit az such exclusive nriv epes e. tina. ass n.
banking ASSOCIATIONS II Is submitted watcher some
more sfringen provision should not be niece so a. At
to make IL the interest of those u com
NV with the law rather than to dsobey ana di REGARD
and to AXE the path OF obedience easier and croft
able than that of sistance The three yeArs Ii nj, vii
exure as 10 ten more associations on he erst nav Of
Januarv 1876 some al which have ana othars az them
have not as yet deposited the one dol
lars of securities
INCREASE OF CAPITAL OF BAyISoxAssocAr,ys
The general banking law requires Zach banking assoca
ton to make certificate OF ass ISOLATION specifying among
other things amount of the capital stock Of the asso
ciaon and the number of shares into which the same
shall be divided. 1t also provides that such certificate
shall be recorded in the County Clerks Office and cert
fed copy thereof fled in the Bank Department. The law
aushoizes the association by its articles assacia
ton to provide for an increase. of its capital
and Of The number Of associates, from time
to time, may be deemed proper. 1t authorizes u
OF capital when articles of association thus
provide for IT, but it does net specifically require the
cord fling Of any Ger fcsse or evidence OF such in
crease. Although many banking associations have filed
in the department formal evidence of tue increase Of their
capitals still very many others have not done
So and the result is that the Department does not
now f nsh any reliable record evidence OF the actual
banking caps OF the State nor of the captal OF many of
he banks in the STATE other than that which NAV be
cleaned from their quarterly reports
The aggregate So 705 ESQ IRE cspita th,n il ana
lifted in their certificates Of association F,o this fact
arises the great eiscrepancy which will aupear in the
statement Of cspal in different n,rtiops ~ This re,ort
and The tables There man;fest nronretv
in evif to he ad In the RAM No ~
any change in the articles of association as il spy
Of those items which are re ,uired 10 be soecided In th
certificate of association rhecertiecae Of /,
recorded and filed to urn evidence to the w,rld Of tho
cts contained ia It. IF what value il Il as evidence a.
the iaI facts it eere NAV be changed the next
day by the associates without notice or change OF the
eertifcateY There Il A manifest pronrietv therefore
which ees no argument to elucidste to REQUIRE that
wherever the capital OF an aasoction is Increased or
apy other change il made in the articles of ssocc ION
in apy of the poiots yered by and reonired In he o
fed in the certificate Of assoeatiop there should be f,r
NAL of that fact OF file ia The and
m rsro,d when the o,ians certidcae of T.
Iecoyd.d
,h~ a;;,, rs.oyd and fling IA If anv conseouan.e
a., ~ go 49, Is iar.t ,,a ..y - az The az
he G.ne = ; NOV ZIG ~. ~ ;, s,a ~, rov;.;an
49, 1917; $50 IN tn nto,nai at; ,Ia. ~ asssc;a
,; ~, -,cna csrt;seas ~ ASSOCIATION reani, ed 20 he
"a 80 aiad shanIc ,ec;fr liz eYtant ~ -bi,b ara
~ The assocst,en is TO be nv
:. ar,;sias :, assecis,;on ~