The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-10-02
n the 2tth September, were as follows
Total le ,se4 900 II 2ss ,e26 cess, ss4 l5,o52 sos

The between the Suffolk Bank and the New England
banks progresses vigorously. In the Supreme Judicial
Court at Boston, yesterday Judge Bgeow denied the
motion for injunction against the Suffolk Bank made in
behalf of the lowell Bank The Judge remarked:
This bill Is brought under the statute which provides
that where goods and chattcs have been detained with
held secreed that they cannot be reached by repe
vim bill in equity will lie. There doub. Of the ju
rsdcton Of tho court If withheld to which
the party entitled this the proper remedy Bank bills
goods within the meaning OF the statute. II then,
the legal right is clear, rreparabe mischief viii en-
from denying the injunction, it must be granted.
What the allegations? They are that bills TO the
amount of $50 600, issued by the Lowell Bank into
the possession OF the Suffolk Bank that the Lowell Bank
rendered the specie for them ut the counter OF the Su
ok Bsis, spd the sn!?ik gaak refused te surrender
them II Is further alleged that this refusal was for the
purpose Of injurng ana depressing the Lowell Bank.
There is no averment that the Suffolk Bank did not le
gay come into possession Of the bills and it il to be in
erred that they did not into possession The ques
ton is, whether holding them, il is bound 70 surrender
them. There IL 10 doubt that banks may lawfully hold
bits Of other banks The statutes recognise this right
Chap So sec 81 In ordinary contracts when the re
aton OF debtor and creditor exists does tender Of pay
ment by its own force uivest The creditor of his con
raciS IL is the doctrine Of the plaintiff that does No
authority cited, however support Of t. The Court
does not understand the legal effect Of tender II the
party holding the goods has been rendered the payment
and then cuurccs the contact the fact Of the tender Is
valid defence against the but the creditor is
thereby Invested OF his property By rendering payment
the debtor has done all that nc can bu the title Of the
promise not d;vestcd II this Is the law in ordinary
contracts applies with greater force 10 the bills Of
and not contract 10 be recalled at any moment lie
had never heard that hank could demand it, bills Of
an individual. They for circulation, from hand to
hand until they come back 10 be redeemed in due
q business bank may hold them part Of s assets,
only cannot pay them over its counter pay Of
its debts. tender might stop the payment OF
but cannot diycs the creditor Of hts rights. The
Court Is q opinion that the plaintiff has not that clear
legal right which alone injunction could be granted
II alleged that tho motive OF the Suffolk Bank Is 70
press the Lowell Bank This may BE- true aud the
tive may not be approved but the principle clear, that
II party only exercises his legal right, his motive is i'm.
material The act may be one If usurpailon, but the
law will not look into motives legal rights not trans
ccnded.
A meeting OF the western banks OF New England was
held at Springfield Mass, Wednesday, at which
~ banks we're represented, as follows
The Chicopee, Agawam, John Hancock and Pynchon, o
Springfield the iiadiey Tails, II Holyokc Mouson Bank
WCsticld Bank: Holyoke, ofNorthampton Conway Bank
Greenfield and Franklin county Of Grecndc NoTthboro
Bank, Iiayerhil and tsscx Banks OF IIaverhi Bank
hattlcbofo, Vt; Hank OF Lyndon VT; Brandon Bank
VT Thames Bank Of Norwich Ct Iron Bank of Fall VII
lare Ct. and Bank of Norfolk. c.
certificate signed by thirteen of the banks nedg
ng tcmseNcs TO Keep special deposits the Suffolk
Bank hereafter. The remaining banks had authorized
their representatives to act but assurances given
that their names will be added to the list the
respective boards q directors can be assembled author
liz H.
resolution adopted that The banks represented IN
the meeting would continue % receive the notes Of the SON
hogan Bank notwithstanding tie dscrc thrown upon il
~ the Suffolk Bank. Tie following resolution also
adopted
Resolved That the course of the Suffolk Rank IN war
ring upon the country banks which have refused
tnuc their subsidies TO that bank, and refusing FOR
their bills the specie rendered 10 them Boston and then
sending 81 the bills &c such country banks from the
point Of red mton 10 their respective counters merits
and shall receive condemnation, both in the *.
preston q opinion and in the direction u future
business.
Hswson Holmes 81 Cincinnati, write follows on the
10th Of September
Tie stock market presents feature since the date
~ last ssue the feeling of confidence then noted still
Continues ana very TAR amount 81 business has been
transacted, at prices varying little those last report
Cd. In the mortgage bonds o. 81 the roads slight
decline has taken place. while others have experienced an
advance. The stocks " the different roads have been
more sought after, and cutie Improvement in prices
been established. The exchange market Il IN a more
settled condition, and rates rm premium 90 thr
Fast itanscrr' checks New Orleans command iron,
y 70 premium Very Little doing gold, and prices
nominal AZ a.