The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-07-10

accomplished would appear thas, - matters nov
stand, the feelings 6 The parties ooucsrned arc some
what embssssred, and asTssesmsnss which might b
ssaily oossunmased between friends or strangers ere not
easily perfected between men who dshke and d'suua
each other. But for this, the Nay convention mAsn'
no doubt be 70 enacted and fairly carried mo
effect Whatever present consequences may d. 'nere
be no question but the existing nvany On
do ultimate good TO any one save 70 nose nsn pnci
pied directors Of the who earn their living ~ dopre
cating etc ok and the Central rms must sooner or
later be discovered by the stockholders and
Effected sound policy and faithful regard for these great
enterprises would suggest that ought 70 be u least It,
tempted without delay. On Thursday next u under.
stood that resh effort will be made by the Presidents Of
the PENNEY vaps Railroad and the Baltimore and Ohio
adjust matters; Why these efforts should
Dot be successful unless the bear interest in the Erie d.
rection should have wholly overpowered Ill other con-
alterations in that body.
At meeting Of the Clearing House, hold thursday
afternoon, application was made for readmssion by the
Aecnancs Banking Association which failed just before
the crias. The application refused, there being ten
adverse votes out Of about thirty three four banks
presented The ground Of the refusal (which In the
seeh or favorable report the bank BY the Clearing
House Commtee) appears 10 have been rst, that the
bank had bad name, and needed torn Of probs-
nun, tnht Capuh, Sooo tnau
for Wall street bank. IL 10 hardly necessary notice
these objections. The former is applicable 70 school
boy, not to bank; the iatser can only be
appreciated by The largo banks, which may
naturally desire 10 prevent the establishment
Of banks to divide the business with thsm But
evident that public and important institution
the Clearing House ought not to be swayod by consdea
tons Of this character, the event will in all probability,
lead application the Legslsture for the
ton of the Clearing House into public insttuop under
rules established by law. Such change would present
many advantages The committee upon INITIATED notes
reported against applying for further legislative action
believing that the present law is sufficient to protect the
banks against fraudulenty mutiated notes. They
mend that the banks refuse to redeem such NOTES. and
should legal compel the redemption,
that the defence shall conducted by committee OF
Clearing House Association, and at it's expense The
port ordered TO be printed and will be acted at
future meeting.
The following was the business Of the Sub Treasury
this city to-day
Total receipts. $500. $3S243s Al
OF which from customs. .........-...... 10000 90
TouA pay menus. ~! 6sS 70
Total balance ,32a COS 81
The cearings this morning 1t the Clearing House
SIS 1872 CO. and the balances 81 lc4 ass g. The Me-
tropoitan certificates remain q. s2s, ooo
There is movement in money. Exchange is in little
demand the best bills bankers) held at loo, but
we hear of transactions over 10sH on London and
81. Is . 81. 12l on Paris.
The following dividends have been declared
The Ktna Fire Insurance Company of this city, semi
annual dividend of six per cent payable the 18th inst
the Greenwich Savings Bank, its usual semi annual
dividend at the rate Of five per per
Of ave hundred dollars and under, and at the rate Of
four per cert larger sums; the Mercantile Bank,
semi annual dividend Of five per cent, payable the
18th inst. the Cayuga and Susquehanna Railroad Com
psny, dividend Of four and half per cent, payable
demand. The eight Charleston (South Carolinn) banks
have just paid half million in dividends, for six
months Of two and half, three three aud half four,
AID four and three-quarters per cent
The collections made by the Illinois Central Company in
the month Of June of the 1885,
now falling due, amount 70 S63, 6+3 The company
purchased and cancelled Of their mortgage bonds
out Of the proceeds Of these collections The original
mortgages reduced BY this process thus far s79l 200
Mr.. E. W. Durham, President Of the Corn Exchange
has been elected Treasurer Of Chicago and
Island Railroad Company, vice Mr. F1sgg, superseded
Hewson Holmes, Of Cincinnati, speak thus Of the stock
market in that city,
The movement Of the stock market the last week has
been entirely devoid Of interest Occasionally symptoms
OF slight mprov ement manifest themselves, only 10 give
place 10 duller market and dropping quotations. The
heat and absence many from the
city add TO the general duness IN all departments of bust
ness We note sales Of Little Miami six per ut
81 Hamilton snd Dayton second mortgage rs ~ Covng
ton and Lexington second mortgage as and third mort
gsge 49, Indianapolis and Cincinnati second, q. TAX and
interest We note q tunal sale OF Hamilton and Day
ton mortgage st S. In stocks have bot few sae
report anocg which Little Miami shares at T3 In
6spapois and cncinpsu q, So Hamilton and Dayton o.
40, and Columbus and Xena Il r.
According report OF the Secretary Of the Treasury
Of Brazil the following shows Me Of the Empire
for the last three years:-