The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-02

me s.ssrS Falls Herald says tina. the Niagara Rys;
BANK, q rosawands, WI shortly resume payment.
Governor Pollock. OF Pennsylvania announces th.' -
Commissioners Of The srksg Fand
- ssps vs. --port . reduction
/ sf do lar, ~' 'ares years OF over one miluo
'eain sns', for . day or two p... .ns d..,o,, !,
'~0o ssrket, and oven some Of The l.yga !. Il, a.,
10 this city, have refused the b,,,, !, ~. -.
sey ~ ma dopoken Ranks-ln fact The bin. Of All N.
Jer 0nks ihs Is the result, no. Of failure or SUE
penson or te In question, but OF The general sus
picon concerning ali b. ks out or this State.
In our report OF su sson sale, his ornpg appeared
that the stock OF the East River Ban sold 10 er cent
and the Citizens Bank u per cent Now sy oss 1t all 40
quained with the market vaue Of these stacks must have
seen o. glance that these ngurs al wrong Tho 20
ual Faes were or TIE East River Bank 81 76K per cens
and The Ciizens' Bank u % per cent.
We publish In another part OF this issue statement
made BY Tho President Of the skubcn County Bank. In
drawing the distinction between the old safety fund s
eem and the new reo banking ate stock system,
classified the different Institutions under different hesds
We did NOT point out any bank In The list or safety fund
banks ~ being unsovnd but stated that far the ys
tenn generally WAS concerned the billholder not
well protected a. In tho State stool system. No
doubt tho truth Of that ltemens There are undo abted
~ An oOg the safety fund banks many sound safe
siitrons, and from the exhibit or The Neubsn County
Bank here can DO no question 70 is entire and complete
sovency Is an old and carefully managed concern and
10 entitled to public confidence conducted we should
Judge, entirely without reference The safety fund seou
riy, being able 10 proeo all OF s creditors from IT. own
sets That the safety fund System very defective and
calculated 70 deceive bilholders one can for mouen,
doubt but 10 be hoped that the different banks doing
It'll thAls
to mol require The bholdsr look any ohe, source Of
remuneration for redemption bu. the institution Issuing
the notes. The free banking system the only safe
TO the b,hs'der undcr any Contingency Notes secured
b. deposits Of State stocks with the state sphohes are
just ~ good 10 hold much goli and tho public 90
understandN II.
One Of our contemporaries attributes she le,hargy among
outsider and the total neglect OF The Stock Board TO the
new rule ~ 10 ime which, II ssys guarantees contracts
That not the case with those which have been made
with tho additional privilege OF much more time
than 'he present period gives outside Of tho board
an org men who are simply responsible and highly
rsbIe We teairs 10 cast no imputation upon any
Der OF the mock board but venture the assertion thai
there are not over thirty bers whose contracts would
be met, without cash deposits where sudden turn In
Or sDca matters brought difference OF twcnty thousand
dollars the total the wrong side Of the account but
they would retire from their seats compromise fer q
tr'he, or remain out, - some now doing who made
and collected enormous differences few weeks before
they retired and the cash nrm
- uIimpaired In other departments OF their business
II would be good policy 70 publ Oh tho OF the
parties voting for and agAi the said rule eimpy TO
put them raht with their commitments, who desire 70
know where they stood that occasion; and II any
parties can Pick Out ten responsible for nfly
toussnd dollars Of differences any day, would Ike
10 have them selected for we unable 70 do after
carefol scrutiny. We think those parties who are 20
very cesr, 10 got double brokeragessAnd trim uags
which In raid TO be equal an average
70 quadrup the broterases every sxy days. have out
their own threats. If they can mako any money buying
and selling among themselves they should be
Leo to do II. The probability that the
spon,ible members win reTgn ~ wasse per 90
ere, sgreene mt, and form . new hoard on the basis
Of the opcn RI lee OF the old one, with initiation foe
Of three Eve thousand dollars, and such mutations
about seass that those who simply able 10 pay for
The seal, and have mot preserved Q characte. for
integrity In their previous Transaction be excluded 70
certainty The better In ami nd The present
rule 81 to three days" will net add to the loss Of buai
from outsiders, for the Specializing Glars either
locking doing their business quietly with honorable
firms elsewhere. This will leave the operations entirely
TO The In rese Of money In stocks and rapidly drive out
Of sight number Of stocks daily called. Finally,
walking 10 ard fro 10 the stock viii DO . tedious
poymcn, and The really ir durous and onerprsipg
viii seek livelihood In other pursuits II will Also give
value TO the prices current Of stocks which they do
not possess.
Wien railroads were nrss introduced into the United
sster the rail used the fat bar 2k inohos vide,
rch thick. being nearly 20 lbs 70 the yard spiked
upon long GIG scSniirg laid upen ties, morioei into
Iexl2 sis Afterwards The roads reiAld with The
heavy rail, Invented BY tho late Mr. Stevens, OF New
York The rail lass longer, but coats It's rca,
valus exemption rrom snakc heads" The difference
expense OF ucins mile OF railroad superstruo.
lure with The Dc, bar ra scsn,nng and sil, with The
rail, chair, 80, may be stated about ~ follows
ON RAusoAp