The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-01-07
each quarterly report made 70 this department during

each quarterly report made 70 this department during the
fiscal year.
resources the banks, banking associations
individual bankers shown by their June report for
each year from ISs9 TO 1858, both inclusive.
Tables 49, II, Is aud IL present In detail the
condition OF every incorporated bank, banking as
ISOLATION and individual banker doing business IN
this State the Goth December 1857 18th March, 1858,
18th June, 1858, and 18th September, 1858
MUNICIPAL TAXATION OF CRY Ions MokfoAGko TO TIE BANK
DEPARTMENT.
difficulty IN relation to the security held by thus de-
partmept Tor circulating notes issued upon bonds and
mortgages covering property located IN some Of the cities
Ia this State forced upon the attention OF the Supern
tenden BY the increasing number Of notices Of the sale Of
property so held municipal laws. The following is
copy OF Of number OF notices served upon the Sd
poriniendent as assignee Of the mor'gagee;-
No bel BUFFALO, Sept. II, 1888
To THE BANGING DEPARTMENT..
cember order Of the Common Council Of
he c baO s parcel Of land was sold ey said
the taking land bounded ey Chippewa Washng,on
at said sls Sens iii By he city a under
ter for the s Of SIG o. and 70, the term q loo And nd
months after he this notice The premises
New YORK on the poh side enssee street being
front by l feet deep w ss. ess. OF spring
WIN. A. CHAHD, Agen.
will be really that The description Of the lot is
the only guido by which any clue to the mortgage be
obtained and such indefinite description woHld be
cepcd in mortgage offered this department, 1t is iui
possible to ascertain what mortgage held in this Office
ers premises in question Neither does the name
Of the party to whom the may be assessed afford
any evidence Of the execution Of the mortgage by him.
Again the notice furnished gives no evidence what bank
assigned the mortgage 10 the Superintendent There
over three thousand mortgages In this office and
CURED by the department, might take months to find
the identical mortgage covering the property II Will
be observed that the notice requires the payment
of a certain sum Of money in given time, Or
the possession Of the mortgaged premises passes
under the purchaser for hundred years. An at
tempt was made by my predecessor to prevent the
nf of
property located in city. unless the walk was Jagged
and gutter paved, this class Of improvements was sup
posed TO be the occasion of municipal taxatons, upon
which sale Of the property could be made for term OF
years The notice is for failure to pay tax for the
unoceuped lot in the city without reference to its To-
Cality.
The Superintendent would respectfully recommend that
the statute relating 10 notices Of sale OF property for m
nicipal taxes, public officer holding bonds and mort
cages tru shall specify the OF the original mort.
panor and the assgnor assgDors OF the TO such
public officer; without such specific notice the sale
shall be Imperative against the mortgage so held.
is perhaps proper here 10 say that the present su
pernteu has heretofore declined and is not willing to
security for circulating notes. mortgages upon
anoccuped city town lots, believing that this class Of
property not within the meaning Of the statute
requiring them 70 be upon improved and productive as
wei! as unincumbered lands.
The amendment is intended to protect the mortgages
already in the department.
ENGgAvERs FOR THE RANK DEPARTMENT
During the past spring change took place in the ar
rapgemepts for engraving bank note plates and printing
bank for this department There employed by
the Superintendent different firms and indivduals
engravers of the Bank Department each bank
banker Under certain rules being allowed to eject
which Of those parties should engraye the plate or he
esired and print notes under tho direction OF the agent
Of the Superintendent residing in New York, in whose
charge tho plates were kept The plates when
tual scaled up and kept in vault in the Bank Of
the Manhattan Company in New York or in the vault of
tie Bank Department. It is due to the Manhattan Com
pany 10 say that the of their vault has been given the
department without charge.
All of the engraving houses, during the past season,
formed themselves
title Of the "American Bank Note Company" by whom all
engraving printing for the depar tment is DONE
The safety OF our bank note circulation and that of the
banks the quality of the engraving AMI the convenience
Of this office have been greatly promoted, in the
opinion OF the superintendent, by the formation OF this
company
Another subject Immediately connected with the en-.
CRAVING and printing Of bank notes. would demand
the attention Of the Superintendent The coVuterfeng
and altering Of bank have reached point that
efficient steps should be taken If possible for their proven
ton. The whole matter is one surrounded with difficult
ties and endorsements Efforts OF various descriptions
have been made to stop this evil but is growing rapidly
and becoming question seriously affecting the utility Of
bank note circulation.
hesuperntendent looks upon the alteration Of the de-
nominations Of bank notes with the greatest alarm.
The perpetrators Of this description OF crime have be-
skiliu that an acquaintance with the vlgnee OF
each denomination Of notes almost necessary to detect
the alteration Inserting the denominations OF the notes
in colored letters has been resored TO- but furnishes
little protection, as those most in use easily
erased and that without njuring the black iD used in
printing them.
Printing the denominations in colors therefore, Ia
delusion IL relied to establish The original
amount for which the note was issued. This difficulty
overcome in q great measure, III the opinion OF the
superintendent by adopting the green color Of the Ae
Bank Note Company. 1t is believed TO be Jude
strucbe and that IL be extracted without destroy
ing the black ink well materially njurng the paper.
While tine Superintendent does believe in The
sty OF having green tint plate, he thinks that letters
upon the face of the note showing the denomination, the
hes, protection now known against altering notes. II
would be an Improvement to make the bottom Of the
letters occupy small portion of the space devoted TO the
signatures OF the president and cashier thus making
portion OF Their respective signatures over part OF the
green aud black coors The adoption oi a leterei de-
nomination in green s also protection against photo
graphing equal any other color well against alter
ing notes.
1t is proper to say that specimen of photograph
has under the eye of the Superintendent
which would deceive any person conversaDt with bank
notes.
with this subject the Superintendent would
cali the attention of the Legislature 10 the fact that when
plates for counterctng bank notes seized by public
oe ay, no legal requirement. exists compsigg their dc
struction. They usually thrown aside aul perhaps
forgotten IN the change Of officers periodically taking
place with The possession Of two three Plates
der the system OF Transferring now employed eugravng
bank note plates, enables tue counerieter to combine
counteieiis at pleasure.
without seeking new dutios, but now having in his
possession and custody all the bank plate a the banks
OF this STATE With The specific duty pllcea upon him of
destroying ~ plates Of closing and insolvent banks il
appears 10 the Superintendent that all counterfeit plates
aGd the impressions taken thorctrom should be re.
TUNED to this Office for destruction by executive Off.
GERS IN whose possession the same may be, after being
used evidence when necessary and it should be the
duty OF Tie superintendent to destroy them ard report
the number, denominations and Of the bank the
Legislature
II is but just TO say that this recommendation although
apparently interference With duties OF tho officers
employed IL tue detection and puDs bnent Of crime, Is
made by tue Superintendent after 4 consultation with and
the approval on the Police Commissioners of the city of
New York, where countegieng aud altering bank notes
nust G. The effect Of the successful counterfetng
altering Of bank notes operates with force gns
Circulation, and tends 70 cufta except the immediate
vicinity q the bank, where the community are familiar
with iis notes lhe banks Of this State have deep
teres in stopping thus growing evil the formation of
voluntary ASSOCIATION on their part like the New Eng
land company io us suppression, would well repay them
Cor effort N that direction.
The amount OF securities transferred to the banks bank
ng associations, and individual bankers during the past
fiscal year. Ill of which have been couacrsgned and en-
tered IN the books OF the Treasurer Office 10 ~ follows
.. ,O3l ,359 90
lotal unns!cfs. 81, sos 55S 81
In concluding TINS report, tho superintendent respect
fHny submits and recommends the following amend
mepts to the general bank laws, all of which
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