The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-01-07

speedily and successfully 70 resume their corporate
obligations, after their suspension in 1857. |
How successfully they resumed and sus.
prosperous condition fully shows. Among
The three hundred banks and bankers doing bust |
ness IN hts State not one has failed TO meet their
ale ercepiiom of an indiridual banker. soy,ose
failure perDlited for the purpose of closing
up his business of banding and ,ohose notes nere
redeemed at par by the Superintendent the day
fouotcing their final protestation.
That the restless spirit Of change will call for
some impracticabe reforms in our present banking
laws and exhibit itself in the midst Of the Legsla
ture at its present session is beyond doubt ex
perience teaches the truth upon this subject.
The amendment Of any general law TO meet the
views Iof individuals or localities is always fraught
with danger to the body polite and should not be
entertained for moment, unless 1t Is adapted to
every locality in the State and Is OF certain expe-
dlehcy. The past year has been one of returning
prosperity to our citizens and their interests aud
The successful prosecution OF their various yoca,
lions are intimately connected with the banks OF
this State. The Introduction Of disturbing ele-
ment into our banking system, by unwise amend.
mepts to our general banking Law, cannot produce
any beneficial effect, and IL may result in unmixed
evil not only to the banks, but to the business Of
the whole community.
The people of the State have not, for several
years, evnced by petition or otherwise, any desire
to make radical change In our banking laws.
They know full well that they enjoy q paper cur
rency unequalled in the world; and all attempts,
for the past few years, to make such change,
have arisen from theoretical thinkers and not from
practical knowledge Of the working Of our system
It is made the duty of the Superintendent of the
Banking Department of this State, by subdivision
3, Of section IL, of the act to organize Bank De-
partment, Ito suggest any amendments to the
laws relating to banking, by which the system may
be improved, and the security of the bill holders
and depositors may be increased"
The legislation of the past two or three years
having placed the internal affairs of the Bank
Department on footing that makes it
both secure and efficient, and believing
our currency entirely secure and that mel
require any change in our bank laws for their mu-
tual protection, the Superintendent most respect
fully submits this report to the Legislature, with
out any suggestions for an alteration or an amend
ment to our present banking laws.
All which is respectfully submitted.
JAS. NJ. Cook, Superintendent
During the last fiscal year three banking institu-
tons, with an aggregate capital, as shown by
their cert cates Of association file in this office,
of $500 OOO have deposited the requisite securities
and commenced the business Of banking, viz
Names. location. Capital.
Bank Of Cohoes. Cohoes .$lo0,0 600
Bank Of whitehall. whitehall. ....... 100000
Nassau Bank Of Brooklyn. Brookyn..... 100000
Total. $500, 900
The associations above named have on deposit
the following securities Wis
New York State stock, per cent. 1851
Do. do. 6K do.................. 1900
United States do. s do.................. 4'OoO
On which has been issued circulation Of. $3.50, iss
Three individual bankers have also deposited Sc
curites and commenced the business of banking
under the name and title Of
Capital
Il. j. Miner Company's Bank, Dunkirk. Szs, GOO
Hungerfords Bank Corning. ............. $4,000
r. N. GODDARD Company's Bank, Canton. $4,000
Total -. sl2s 900
Bonds and mortgages OBSERVATION-DISCLOSURES. $3.50
New York State stock, per cent. ..... $4,000
New state Per
United States stock, per cent.......... 1000
Total. .si25 $50
On which has been issued circulation or .sl2O, $50
The following table exhibits the total amount of
outstanding circulation issued TO banking associa,
tons and Individual bankers, and the amount and
character of the securities deposited and held In
tiust for its retention on the Both day OF Septem-
Der, 1867
'' york an sass s,Scs c. 60 ~
20: 49, * sS.. , Isl sss g g
United States DO aO..a, 1890 60
1,s641oo 90
Illinois sA,e do. do.............. 4s3,7s3 "a
Michigan State do. 8 do...........,. 4lO0o 90
Cash.. 1854 So
Total. s2s ,oss 1856 "
held in trust for banking
socations and Individual
bankers, Sept 80, 1858. $26, 800, 0s8 SO
Increase during the year 1859 l,676,23S %
q, Oss, 1886 90
Amount Of circulation outstanding Sept
Amount Of circulation outstanding Sept "
3D. leoS.... A6cS,l9& w
Increase for year ending Sept 3d. 1885, 81 1857 43s 90
The increase securities above noted, viz 81 SIS %
has been in the following
N. Y. State stock. SAGE $50 90
U. s. stock. Il $3.50 60
Less decrease in the following
Bonds and morg's .le5 90
Illinois State stock. %, 6s6 90
CaSn .............. lZ,toV 90
-- 316,6l191
The following securities are held for incorporate
the Legislature, viz
Bank Of Orange county, Goshen (under
act Of March H. lS49):-
New York state stock, per cent. $3.50
New York State stock, per cent. .24,600
cayuga county Bank, Auburn, (under act Of
New York State stock per cent. ....... 1000 90
Cash derost under act Of April Is is57 1919 q
Bank Of Ithaca Qate incorporaied), Ithaca
Cash in deposit under act Of April 49, $751;. 1906 So
TOTAL. 1868 %
COMPANIES
Buffalo Trust Company Buffalo,
Bonds and mortgages. $685. 600 90
Buffalo city stock, per cent..... 5000 90
United States Trust Company, New York
Auburn city stock, per cent " ....... 100000 90