The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-01-06

Q policy calculated to lead to such catastrophes.
Experience proves that bank managers are by no
means universally gifted with foresight and saga
city, and that the pursuit Of profit and mutual r.
valry will frequently lead them astray from the
path of prudence. We do not think any harm
would be done by moderate act of the Legislature
guarding against excessive bank expansions, and
imposing on banks which suspended penalties
which could not be evaded
The history Of banking in this State shows some
singular anomalies. The bank circulation has fall
EN- from so per cent Of the capital to "a
per cent, in consequence mainly Of the in
crease Of capital and the small profit afforded
on circulation. The bank capital is now
sll0,9s7 040 about 81 900 900 than 1t was last
year, and about double what it was in 1851. Bank
ing, says the Superintendent, is no longer as profit
able as it was. and hence capital has ceased to
seek employment in that channel The bank loans,
by their quarterly statement dated 25th June last
were $lS5 ,027 ,449, against $l7S,s53,li5 at same
date of 1885, and 500 4s0 7sl at came date Of 1857
The deposits we're $99,597772, against s9s.0s6,s75
at date last year. and SAG COL ass at date
of 1851.
The most significant paragraph in the report 81
the one in which the Superintendent states that the
most profitable year the banks Of this State ever
had was the year ending in June, lS57-the one
preceding the crisis. If it be so profitable for the
banks to produce a revulsion, is it safe to trust
to the sagacity Of their managers to guard against
such accdentsI
The Rock Island earnings for December are re.
ported at $sl s43, against $50 2is same month last
year; increase $2l, Discover 35 per cent The last
week showed an increase of S. ,030.
The receipts into the Sub Treasury to-day were
light The business Of the day was as follows:-
Total receipts .4Z30,4t u
-for customs ........................ llSOO0 w
aoai ioo!oa ~
FINANCE. oOo, leS ~
By reference to our advertising columns it will
be seen that the banking house of Stout, C.ews &
Mason has been dissolved. and that the business
will be carried on by Messrs. Livermore, Clews
Mason. at 20 Wall street.
The following dividends have been declared -
The Commercial Fire Insurance Company, . divi-
dend Of eight per cent, payable on demand; the
Mechanics Bank Of Missouri, semiaunuat dividend
Of FIVE per cent on oil stock subscriptions paid in
on the LIST Of july 1852 and at the rate of ten per
cent per annum on all subsequent payments, paya-
able at the Bank Of America in this city, on the 10th
u
annual dividend of seven per cent, payable on de.
mand; the Relief Fire Insurance Company, semi
annual dividend Of six per cent payable on demand;
the Hope Fire Insurance Company, a semi.annual
dividend of five per cent, payable on demand; the
Empire City Fire Insurance Company, semi-an.
nual dividend Of seven per cent, payable on de-
mand; the New York Equitable Fire Insurance
Company, a semiannual dividend of ten per cent
payable on the 18th inst
The exchanges at the Bank Clearing House this
morning were $40 ,33se54 "a, and tho balances ST.,
444,789 81.
The New York and Erie Railroad Company has
given notice that it viii apply to the Legislature
at its present session, for On act to amend its
charter.
The Portland Advertiser says that the State
will lose nothing by the defaul. of Mr.. Peck, the
Treasurer Of Maine as his bondsmen will answer to
their responsibilities as soon as the amount can be
ascertained.
The coinage at the United States Mint, Philadel.
phia, during December, was a. foll0ws:-