The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-10

,hs frss beard to-day New York Central Railroad c.
advanced psr cent; 90. Is q Ere Railroad bonds.
third mortgage. "A; Illinois Central bonds. 1: mi.
non Central Railrosd N; Reading. d; Bank o. Com.
merce. 1; importers and Tradcrs' Bank 1: Mlchi-
gan southern. old 4: do. preferred. "A; Milwaukee
and Mississippi. d Chicago and Rick sland declin-
cd per cent and the only stock on The lst thai
cloed at lower prices. Bank stock. were freely
offered to-day. The rccn, rapid advance Ia prices
has brought In sellers. The condition 81 the banks
certainly does not justify any improvement
These institutions are not making any
money, and II will Le years before their
profits can again he anything like what they
have been. Illinois Central bond and stock appear
to be gradually working up sEan to former prices At
the second beard, general thing the marke, was
lower. Delaware and Hudson fell on l per eeni:
Erie. 1; Reading. II; Michigan southern, preferred
ls; Illinois Central Railroad. 4; Chicago and Rock
Island, l. There disposition 70 sell this after
noon, and the operations were quite limited In
amount. Spectators for rise do not feel 20 conf
dent Of an imitation they did few days since
The immediate future does NOT look no bright. and
outside spectators do not seem 10 he attracted by
the activity at the board and the expansion already
realized The fact Is, outside Of small clique Of
street operators, no one has any money 10 ope-
rate with, however much inclined he may
feel to go in for the chances. The clique
of street spectators referred TO made all their
money sellers, and now they seem determined TO
lose it buyers The desire to speculate in stock
securities great II ever WAS among outsiders
but the want of capital and credit acts A. whole
some check, and it is likely to be long time before
the brokers get up any active demand for stocks
except among themselves at their own risk.
The Washington Star states that the map of the
definite location of the La Crosse and Milwaukee
Railroad, in Wisconsin, from Madison to St. Crox
Lake filed by the company short time since, has,
with the concurrence of the Secretary Of the Inte
ror been accepted by the Commissioner of the Ge
neral Land Office as the basis Of the adjustment of
the land grant for that work. under act OF June 3,
1856, and to be laid down upon the official maps.
The returns of the banks of this city for the week
ending Saturday, November Z, compared with those
of the previous week, exhibit the following varia
tions in the aggregates
Increase in loans and discounts. .......... s5is is7
Increase in specie. 3SOs I'll
Increase in circulation. Observation-Disclosures. 1854
Increase in deposits, actual Observation-Disclosures. ASH Sis
For the first time in many weeks the returns show
an increase in each department. The line Of dis
counts has taken an upward turn and an increase of
more than half a million is reported The specie
reserve has reached avery large amount-larger than
We have known since the distribution Of the Texas
indemnity fund. The total has now reached an
amount makingit burdensome to carry This fact
makes it important that the banks should turn their
attention to an early resumption The addition to
the actual deposits last week amounted to more
than four and half million of dollars,
and the aggregate is about where il the first
week of the panic. The bulk of the increase in de-
posts is in SPECIE and it is this kind Of deposits that
strengthens the banks. The present movement of
banking institutions gives very little profit, and
it is therefore their desire to get back az pos
sibe into the old channels of business Nothing
short of a resumption of specie payments can give
them any relief but fear that important event il
far in the future. II is reported that half dozen of
our largest city banks ready to resume at once.
This is undoubtedly true; but they cannot resume
until the others ready no matter how anxious
they may be to do so. When they suspended it was
made general contrary to the wishes Of Of the
strongest banks and the resumption must be gene
raj, or it will not be permanent.
At a meeting of the Clearing House Association
held this afternoon at the Clearing House the follow
ing resolutions were adopted. The plan perfected
for restoring the issues of the country banks Of th
State to the old channels of circulation Il likely to
work smoothly and to result in speedy and genera
resumption Of specie payments by the banks Of the
State at large. The difficulty anticipated has been
removed by loan to the country banks Of an
amount equal to the notes on hand. At one time
this load Of unredeemable money looked too formi-
dabe TO be removed without serious trouble; but the
difficulty only in anticipation. II il not likely
to lie realized. The following resolutions contain
the details Of the plan anticipated
NEw YoRK CLEARING Horx.
MONDAY, Nov. Q, 1851.
Resolved That the country banks be requested and
after November 10Th inst, to redeem daily. rs hereto
fore the city Of New York such their circulating
notes rs may be received by the Mctropo,an Rank on
and after that date and that they be also requested TO
redeem on the first day Of January next Mt par twenty
per cent Of the amount which may he held by the city
banks said 10th day ~ November and twenty per cent
monthly thereafter until the whole amount Is redeemed
they paying interest at the rate Of six per per
the amount Of their notes held by the city banks
and after the first day Of December 1851 with the under
standing that any bank may anticipate the redemption of
IL notes so held.
Resolved That weekly statements be made Go the Clear
ng House by each associated bank nj the close Of business
on Friday Of each week Of the amount Of state bank
and ~ Metropolitan Bank certificates held by them.
Resolved That all notes taken by the Metropolitan Bank
hereafter be assorted, and that the notes that
hand be also assorted under tho direction Of the commit
tee nj the earliest practicable period.
Resolved, That any country bank shall be informed at
s request Of the amount 81 ts notes hand any
time, and be allowed TO redeem them pleasure.
Resolved, That " the amount 81 notes held Of any
bank shall. in the opinion ~ the committee become ex
cessive dsproportionate, they shall call for redemp
ton 81 the excess within ten days falling 10 receive
which such notes shall not be taken by the city banks
Resolved That the Metropolitan Bank shall be rcsponsi
bile Tor the amount of notes covered by their certificates
the correct counting Of the money, and IT. genuneness
but shall not he liable for the solvcncy Of the banks
whose notes IL may so bold.
Resolved, That the compensation q the Metropolitan
Plank for IL services this arrangement shall be deter
mined by the Clearing House Committee ut the final
dempton q the notes. and their decision shall be consi
dcred nna and binding upon all parties.
Resolved That the expenses arising from this depoo
ry and any loss which may finally from bills Of in
solvent banks, shall he divided among the Associated