New-York daily tribune., 1857-10-02

a ua1uiy in il. valGe ' re '.t ~ ~ & %
Via. i tb~ Ys.p.san by b.nk Of IL. bills from o7er
s Ssss o 5,.y, Ssss o 1' bs asP, ss.nss ~h ,y a
Tn bsBt. will imrs dGey repor, Lo sns IN ,.b -.
P,escnt q Cs,hrr g. he close OF sasn's % @ @
ley The th Of p,. 2s or =. nay be 3. IT, o.s
bT.Hc.. each succeeding M}nd.y until S Tr1es A.. Sss
S3}Yi'oI } Scr ;.e.,, s,eoe. a. o!nsi d'0' ''' ''
B@,o,, Bl1s IL ,'i'a'' ''n Bl. Of o.h4r banks.
D;ys.yS. rppsd. Own s.orh owned By t5e ocas.
Net won't. on nsnd Othsr property sPeei.,'.-
Eo,s. and bi. doc 70 bank in Rhode Island.
Nis: I'D s t1s 70 ssns in sPs p.
q, sEsfafs sEs s,SS;s fAsss,E%S%SS;gsaaAAs, ooa-a''r Re-
P'orijeHee, sep e is51: r.,,i,, t,y,,,,.
Ii has been the rule OF the Bank Dep irt@ent inee
1919 The. tte securities deposited by Banking As:0'
Citations -hal not be reduced below $lOO,VU; Asso1,~
tors being required to place tbs. amount IN ta' 10, G
busine of banking.
Tpier the original act the Controller, vhose pow
era were subsequently conferred upon the supern-
ter dent OF the Bank Department was authorized 10
return securities upon the surrender Of rotes, and the
oues,ion OF the continuance of that power. notsih.
Standing the act of 1911, was not mo0teI untl TO-
TIE rnpid return Of Bank circulation and the stsaiy
contraction of the currency has made dei- able that
Banks ould avail themselves OF the securities N the
| Department by surendeIrs their notes as sound
sustaining themselves through the presert crisis.
The Superintendent wisely declining to decide so
grave question as the one presented oeos ana yet
de.ous 10 afford every facility for i.s decision AID for
the relief of the Banks consistent with his higher duty
Of prott citing the public interest, consented 70 submit
the question upon made upon the application Of
the syracuse City Bank TO Judg Harris before whom
II was argued yesterday The able decision OF that
Jurst which has the concurrence of Judges Gould and
W. b Weight, Is in favor Of the application or the
Bark
The Baltimore Patriot says:
The cashiers of the different city banks assembled
last night agreeaSy 20 previous notice, and adopted
such easures We're deemed necessary 70 the inter-
nal arrangements and policy Of those Institutions b.
ward one another. Perfect hermony and unanimlty
prevailed. The most important measure agreed upon
was that the banks pay each other y cen, intares.
on their daily balances 10 be settled monthly lils
obvistes the necessity of drawing specie, and viii have
a good effect.
which has given and is giviog wanted relief to the
mercantile AID busiress community. But teS thor.
Ougy legitimate notes are thrown out when offered
by O. kno y edged customers
Capital has considerably increased, but capitalists
are Dot much disposed TO operate while nancia affairs
remain 30 unsettled Paper Offering on the street,
tbe fore does not meet with r. ady sGle Some days
will be requi ed before regular rates can be given.
Coed TO hIst-clss notes range nOnlnally ct a J!
y cent month Nothing doing in second class; they
are however, held in higher repute. Money On call
| al 4 cent.
Exchange on the North is assuming tea1ier point,
and may be quoted at Z cent premium, at which
sales are made. Virginia bank notes range from .!
3 and Y cent discount. Norh-C Carolina unstte ed;
br kers do not care about buying II. The same may
be ssid Of Ohio and other Western money.
Gold is sellirg at 3Qi T. cent premium. Silver IN
sG'able.
There is a great demand for small chsnge, and con-
siderable Inconvenience experienced. We regret TO
Learn that the q notes Of our Baltimore banks sre
growing scarcer, many of them having been redeemed
in gold and tired for the present. Thus their places
are being taken by Virginia and other outflow depre
oiaie paper. The banks have determined, as far
possible to pay OUT silver instead Of gold in redeem
ing such they choose TO redeem in the way Of
accommodation.
Tie Germ0ntorn Telegraph says:
The operators Of cotton and woollsn mills, print
works, dry ing establishments machine shops, foundes,
furnaces &c, never restricted, perhaps az
the present time. At Manayunk Fran 1iord and other
mar utacurDg localities the works either entirely
closed running but half time. A large number OF
hands are consequently thrown out of employment.
either wholly partially and unless they have pro-
vided for rainy day, which We hope many have,
there is suffering awaiting them. They shall oil, how
ever, geek employment in other pursuits Farmers are
Just now harvesting their corn and potatoes thresnng
their grain, &C.. and many might find work on the
faim; others should apply themselves 70 whatever
emgoyme offers, at full Pay, or half pay as halt
leaf is better than The worst of the present
strrgency mus. blow over and matters and things
will gradually right again. They should reneGi.
Der that if possible, majority of their employers
faiipg worse than themselves In instances the
NtS"' 'S-1 ~N-'OS'
suddenly swept away
The Wakefield Mills at Germantown are also closed.
The extensive wOoen mills at Crescentville are plr
tai Y closed, and those along the Ni,sahlckon, with
scarcely an exception, have ceased operations The
number Of wokmen thrown out by all these. suspen-
sons is very large.
Tie Phiiodtlpiio North Anriean says:
Tie Banks continue extending their lice Of discounts
nc mcderaely but the Money market is still very strin
gent ard there is but lite paper seluog, ]! ~?
c. Ut per month being the outdoor rates for the best
names. '
taken on deposit by the other banks expected
cay OF yo since owing TO difficulty in tue fnil
arrangement IL is supposed, however that the mat
Ter will be satisfactorily settled in few days, ami all
will 90 Oh baImC nously.
The rates for uucurrent money are very much unset-
tied the brokers doing little or nothing in purchasing
a. yet. - ~
There is some movement in specie. The following |
are the quotations of CrOrise X Co., specie brokers:
American Gold 3 q } T. cent, and New.fo Exchange
2el T. cent premium the latter being for selling rates.
The Richmond Wig says:
The Banks in this city held on firmly throughout the
vi ole of yesterday. There no unusu3l rua upon
OF things. They receive only their own issues, tos-
eyer--a which will necessarily try our merchants
al business pretty severely. Immediate suspen-
sion would be the best policy If ssps nsion Is to cone
a. all-and perhaps il would De the best any way. We
do pot feel ourselves capable however, Of Offering
sueo s.Ors 70 bank officers and directors, who ought
10 know what is best to be done under existing cir
crmstances both the bank. themselves and for the
community.
The CiaciHHati gazette says:
Ir the way of discounts there is E.te doing. We |
occa.onally hear of sale of frstoless paper - .
cCbt, but transactions of ths character So rare
ttst trey are spoken of extra ordinary occurrels
Busiress men do not pretend to seek accomn5dl-
tjons and they are looking 70 the adjustment OF tler
business in the immediate future, without reference
10 discounts.
Eastern Exchange is nominally Z cent, bu' L IL |
s,arcer even than money and il would be impossible
can.il.raLle amluEf az lnIlla the