The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-02-21
From n Wall Street Correspondent.

WALL STREET, Feb 20 1859.
The bank returns for the week. to be published Tues
day. will be looked TO with much interest We learn that
the probability considerable contraction Of loans and
deposits will be exhibited, with increase Of specie
The falling of in the mportatons for the week merely
the result OF arrivals. Next week the Customs
ceips will be much larger, and make up for this weeks
deficiency. The diminished demand for money with
which the present week closes will again disappear and
the 4th roxmo the heaviest payments OF the spring
season have to be made. The which led to
the recent advance in rates of interest still in
stence, namely large mportatone, involving immediate
heavy payments for duties the gradual payment of the
remainder of the oan the demand for specie OK
port and the increasing disposition of the banks to con
tract The fact is business is revvng and will send mo-
ney like blood coursng through the veins of trade
Withdrawing it from its accumulation The stock jobbers
in the last two or three days have become a little more
bold in their specuations and clique two his been
formed TO effect rise. The previous downward tendency
has thereby been checked though the effect pro-
poroned to the efforts made for the great feature Of the
stock market is tho public dsrust of the market and the
character Of the dealings in the stocks the board
The public do not like TO NEEDLE with securities
which are known to be largely held by spe
culaive brokers and therefore, it is like playing
with parties who loaded dice for outsiders enter
INTO the of stock specuatons against inside obbers
Any little improvement in the receipts Of Western rail-
roads is gladly laid hold of by the bull. as valid reason
why the shares of such companies should advance one or
two per cent The is not adequate TO the effect
sought for The roads must exhibit proracted increase
Of business through the spring and summer be
panied with moderate expenses while keeping up the
don Of the roads and rolling stock, before any material
rise In stock values justly be expected. The money
market working aganst a rise, and the buying up Of
In kp 10 dan
perry affair." The rise Of the last day scarcely
be other than temporary when viewed from the stand
point Of intrinsic values When viewed however from a
different point Of vicw namely from the position of bull
and bear SPECTATORS the large OF the short te
rest in few leading stocks, and the combination formed
by or two parties TO buy and hold for time there
may possibly be short period of buoyancy until the
short interest has been supplied and member OF the
clique Of buyers sells hs stock The conclusion of the
rafy and precarous and the depreciation Of all mere
speculative stocks In longer periods and certain
with each other.
We recorded Saturday the fact Of the Clearing House
rejecting the application Of two banks TO admission to the
Clearing House No reason rendered by the Execu.
tive Committee Of the Clearing House Association for max.
ing this rejection This action be of the most ar
brrhry nature II true, the association voluntary
one but some wea known and valid reason ought 10 be
gwen by those comprising the association why banks not
members, but wishing to become should be refused
admitanCe. The benefits arising from membership are
very great and the institution formed 10 obtain these
benefits 10 making quick exchanges with less transfers Of
specie The two banks which wanted 10 join the assoca
ton are the New York County and the Grocers'-botb
banks indeed, Of small capital, but still smaller than
many banks already admitted 10 membership But the
fact Of snalDcss Of capital pot Of Itself valid reason
for exclusion Tho New York County Bank IL a small bni
highly respectable bank with FIRST class board Of di.
recors, and admitted to be well managed The Grocea
Bank has recovered from all its difficulties Tho rejection
Of these two banks In pure freak Of the aristocratc
banks The rejection was not unanimous but large mi.
bority voted for admission. When will powerful bodies
Learn 70 move with justice and moderation The Clearing