The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-05

10 cut GOWil us loans 10 second or thfu
rate houses. The policy of sustaining the most pro-
minent houses is undoubtedly "a sound one, for the
large capitalists of London have dealings directly
with the bank, and il is through the private banking
houses that loans are made to the trading communi-
". IL appears to us however that the bank is load
ing itself down with dead weight in attempting to
carry through the private bankers The loan to two
houses amounts to nearly two million of pounds
and no doubt many others have been helped in the
Hggregate to large amount. 1t looks to us merely
shifting of the burden, which may ultimately pull
them all down together We have by no means yet
seen the worst. Every steamer from the other side
must give us the most gloomy financial intelligence
The Hartford Times of yesterday says:
Tho following is the cond on Of the three banks ap
reared in evidence the satement referring the last
day Of November. We give the round fgures:-
Exchange Pank--
Gross amount of liabilities .s763 900
Do do. assets Observation-Disclosures. 746 600
DO do. specie. 5000
Crcuiauon lOS,oOo
1.-THE assets, given each case, are only such
pronounced good by the Commissioners.1
Charter Oak Bank
Gross amount oil liabilities. $500 ,Il3
assets o,lI3
Srcutition l44,ooO
Depostc.
Debts due other banks ACKNOWLEDGEMENTS. 6,7s9
a. 80 -
The capital was sworn to be unimpaired
Mercantile Bank
Cross amount OF liabilities. Sis ,2a6
Specie and sight funds $1,000
New York funds. ................... $1,000
Il was in evidence that this bank had no arg loans
and no bad debts-bat its paper was mostly genuine
business paper and that its capital was sound Judge
Park dissolved the Injunction without argument The
Espk pnm s9lop have hapA Etth tba in.
vestgatons twelve days in each of these banks and
amncd all the assets in each. All three OF the banks
come into the line with the Others redeem at the Suffolk
and their bills at par.
The Illinois Central Railroad Company have is
sued the following proposals for loan of s3,200,
oOO:2
The bonds OF the company for this amount will be
Issued in sums of one thousand dollars EACH payable
is ten years, dated February 20, 1858, bearing in
tcress nj the rate Of per cent per annu payable semi
annuay-the principal and interest to be paid in the
city at New York The subscriptions to the loan will be
lows: lows '' "'A N'N ''''N'' '''' S'N' ~
Twenty per cent on the o: se'H H February 1853
Twenty per cent on the 10th April 1858.
Ten per cent OF the 10th May 1853
Thirty per cent on the Goth August, 1883.
For each hopd Of 81 GOO thus subscribed and paid for
certificate will be issued securing the right 10 sbscrib
for twenty five shares Of the capital stock OF the
ISL ISL ""'H s"' 'eAp''' ." '"S ~" " u fS"'"'S'
Each bond will be received par with accrued int.
when the optional rights thus issued are converted.
Any obligations of the company excepting coupons due
September and October, maturing previously the LIST
January 1859, will be received in payment for subcrip
tons.
The annexed table exhibits the value Of foreign
dry goods imported into this port during the week
and since January lst, in each of the past three
years.
For n. yeek 1855 1855 1857
AT he
Since Jan ]. 1855 1856 -
Entered at the port ole 81 so2 IS eoo 557
Thrown on market. 81 6,3l9 s66ls,7l0 80 ,52
The London Circular of L. +. Satterthwaitc, of
Nov. 81, says
The past week has been characterized by numerous
failures Of houses largely engaged in commerce; they
have been brought down either by the decline the
value Of produce from want Of remittance from Anne
RIGA.
The Park OF England Is believed to have been liberal in
aordBg aid wherever sufficient securities could be
cd and in doing this its charter has been considerably in
frnged by Of beyond tho authorized
Consois very lrn al e0h to = for account they
supported by the continued Investments ~ the public
We have hut little change TO note in the market for
American securities; there has however, been i'm
York Central Illinois Central, and New York and Erie a
rather better prices
The stock aud bondhoders OF the New York and Erie
Railroad have formed committee TO invite subscriptions
10 the loan and large would nj 10 formed
condence could be felt that the system OF floating debts
would be abandoned and that in future mortgage bonds
be created, overriding the unsecured issues.