New-York daily tribune., 1857-10-17

Oct S 1851 o:-ll ISL
CstitAl s0et..............si 03 900 " 80 SSU "
Bus in ereV-ation. 2,So -
Dsb:. due other b&nis.......... lSe2so ol 80 -
s5I 5
Bin. Of ctier S.ni. ........... Los2es 8 1sss5
Deposits in other bsnks......... ss'Is " "fo9 :.
This shows an increase of 81 SOL s. in loans s23,5T
II in specie; and decrease OF s3 % 10 eireula-
ton; &203 Goa so in deposits; sll9SI ~ 10 deot'
TO other banks; 1898 $50 SO in bills of o.hsr banks
and sl2. SIS So IN deposits in other banks.
The Portland Ad,ertiser ssys:
"In Maine We are particularly well situated. Fo-
mere than eighteen months past ourtwo great
OF navigation and iumbenog have been se.er-iy ce
pressed, and the consequence has been thai al the
business Of the State hss been gradually contracting;
speculation has Well nigh ceased, snd every mao has
been feeling his way along with esuton prude ocs ana
treeaste. The result is thst the presen. storm has
caught with very little ssl set, and therefore ID
fiets no serious in ury upon us."
The Clereidnd Herald says:
1--WE have 10 idea there viii be s general susPer-
sion Of Ohio bsnks-thet il, Suspension by
common consent-but Of course the effect OF the
Nev-York disaster must 70 greater or ess ex,ent,
be embarrassing. So far a. the immedse ne 3esshes
Of the business community are concerned it matters
but ittle The suspense Of the last few weeks IS as
bad as can be. We cannot any absolute necessity
for the suspe Dsion Of the Ohio bank. Should Ohio
banks recall all their paper payable in New-fork, ana
give their customers notice that il can be provided Tor
az home ard thus show ready disposition 20 share
bond Of smity and confidence would be estabi,hsd
which would carry banks and people through"
The Chicago Free Press Gays:
r" From personal observation during the 'ast four
weeks in this State and Iowa Well from repe ate1
conversations with farmers, We are satisfied thai there
is more winter wheat to5n the present Autumn tlsn
during any previous year in the history OF the West
liz uost instances however, we have found tha, the
seed drill has been used and great taken 10 pow
ing erd rolling Along the line of the Chicago, Alton
and ST. Louis and Chicsgo and Rock Island K all
roads, We observed large fields pretty well ad
vsnced. liz Iowa we also observed large breadth
in The ground
The Boston Journal says:
1--WE have no change to note to-day in the condition
Of the Money market. In New-York financial affairs
seem little better, and parties are hoping that tais
may have some effect upon own market, but es
yet no substantial impro yemeHt has taken place.
Capitalists indisposed TO purchase paper, and IL
is difficult to negotiate loans except upon undolbted
collaerals. The banks believe, dicounting 20
the full extent of their receipts, but there E not@th-
standing, a large amount OF paper Offering on the
street. The street rates to-day Tor discounts range q.
from 10 - per cent per month for prize business
paper. Money be mad Oh call with undou6Ved
stock collaterals at per cent per month New'fOrk
Exchange ia very irregular. The rates to-day range
a. II to per cent premium. Gold is bringing , to
per cent premium.
Yesterday wss very fiat day in money matters.
We hear OF no outside negotiations 6t any price, nsd
the sigrs Of the times plainly are, that for long
period 70 come the average high rates Of the past few
years will rot OBJ; ain If lender has money he knows
not what paper to buy, while very few note, are
offered from the fact that it has recently been almost
impossible TO negotiate on any terms. When credit
becomes easier, as il must be, from the lack OF
borrowers il probable that all traders Of any repu
taton will be readily accommodated by the banks to
a reasonable extent. Anything making its appearance
in the street will be received with dstrut until credit
shall agsip become greatly expanded. This cannot be
the case for long time TO come As we have often
remarked heretofore. the paper business has been
terribly overdone ard the chance is that in the future,
as surpluses accumulate, they will rather lind their
way int0idivderd'payng securities thanfnso notes OF
hand The only fresh item of yesterday was the
suspension of the Massachusetts Bank, after holding
out one day against the general movement In 1857,
we believe, the same bank pursued similar course,
after1n equally long struggle 10 meiotan specie pay
ments Al present It is strong in specie, with small
outside circulation. But its deposits are very heavy
and the plan that pursued yesterday OF paging out
the bills OF ether banks, is In Direct viola
tion Of law, and the bank subjected i'stf 70 heavy
penalties.
Yesterday the banks adopted the pretise mode of
settlement suggested in this paper lev weeks ago.
That is to say the settlement is 10 be made bills 10
limited amount, according to tariff based upon the.
capital Of each bank. BY this course lee way of
about 81 200 900 is given 10 the banks in the way of
expansion, at the same time that one bank can go
beyond certain fixed sum, cay $40 900 for bank of
81 GOO 600 capital. We learn that there is dis
counting going on at the various institutions, and
that therefore, the tendency of the MARKETS TO greater
for esteemed bank borrowers. The banks cannot
ard ought not, TO do a great deal but it is believed
that they will soon be fully able to take care of all who
are perfectly solvent, aud who require but moderate
assistance The fact that very many Of the county
banks are Overdrawn, and the imperative necessity.
for the good of the community of protecting the
country bills is heavy craft upon the present lending
efficiency Of the city institutions. With time and con-
dence however this difficulty will be overcome and
all the sound country banks will probably go through
the pressure successfully regards the redemption OF
their calculations in Boston. And after the trouble IS
once over, not 4 JW should be redeemed here unless
a.. barl Ian, re ouHf NDt -
small poron OF tie present difficulties Is the result Of
the erroneous Of the country bar k3 IN pushing
their circulatiors at the West and in buying git.
edged paper in Boston instead OF c1nhnlng taem-
seyes 10 the business of their own reighborhoods,
they should have done according to Law and common
sense.'
"The Bark Officers of our city banks, and repre-
seItaiives from some adjacent country backs. held
meeting isst evening for consultation II was a. on1e
resolved TO suspend specie payments l'-eay. pur
banks here held 10 the specie olss one asy logger
than the "eontroIpg" institutions OF all street, oni
these latter having suspended justice TO Themselves
and the community required the former 10 GO Tue "a ne
thing. Our banks agreed to receive on ot oi aea a. ~
payment of debts the bills of all solvent b.nks 10 tnls
State. These should be considered as gOo1 a. mere
tofore, and enter into the currency as resdny a. Sl
merry They all amply secured 0y pledge oil FaO-
lie Stocks ard are prsc.c Sly as available s. ever
is supposed that the course adopted will tend 10 re-
eve the pre- sure which slater afflicted business
Some OF our bsrks discounted moderately to-day
From The Buffalo Commercial
There is better feeling il financial to-day
No meeting Of bank officers was held ye,t:rday sfIsr
room as was expected. Each one pursuing lts owe
course. Some are paying specie on all their bills;
others only on small sums No deposits ere received
except with specifications Of psyrnen. in curren,y;
that is the notes ef existing stock: secured banks
Checks are paid in the same wsy. Ise brokers yes,
terdsy ard TO day refused 10 sell gold or silver, and
tbe knowledge Of this has served as an imp9rtsn;
check upon the run tha savings banks, which h;'
ceased entirely. and many are bnnging their iGnds
hack for redeposi. They are with an occasona ex-