The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-08-17

Bank Mechanics Traders Bank Bank Of tho State
n NV iork american Exchange Bank Bank Of Commerce
, 2sik racine Bank Bank Of the Republic, Peoples
n nk sank OF North America, Hanover Bank, Irving
p snoe ana Leather Bank, Continental Bank oriental
bank Mechanics Banking Association Fnst River Bank
Manufacturers and Merchants Bank
represented. - 'e " w ~
The Following banks members OF the Clearing House
Were not present at the call Of the ayes and nays viz
Fulton Bank, Chemical Bank Greenwich BANK Leather
Manufacturers Bank Seventh Ward Bank Broadwny
Bank, Mercantile Bank, Chatham Bank Metropoitan
fank, Ctzens' Bank, Nassau Bank, Market Bank 81
Nicholas Bank, Corn Exchange Bank Bank of the Com
monwealth, Marine Bank, Grocers' Bank North River
Bank. Eighteen banks not represented
On motion, the following gentlemen appointed
committee to wait upon the banks not represented at
this meeting, viz
Moses Taylor, Shepherd Knapp, W. A. Booth and C. p
Leverich.
Mr.. Galatin offered the following resolution, viz
Resolved, That the thanks of this meeting be presented
TO the gentlemen representing the banks of Boston and
Philadelphia for their prompt response to the invitation
10 unite with the banks OF this city in consideration Of the
very important subject which has been acted upon
ana ior the valuable aid and assistance which they have
rendered.
Adopted unanimously
The resolution responded to by Messrs Mercer and
Patterson, of Philadelphia, and Mr.. Cray of Boston.
Mr. r. W. Howes offered the following resolution viz
lha the committee of the association behalf of the
New York banks shall consist Of person be ap
pointed by the Chairman, with the advice and approval
Of the Secretary of the Treasury and that
the President of the Bank Of Commerce be chairman Of
that committee.
Mr.. vermilye offered the following resolution, viz -
Resolved That copies OF the plan this day adopted by
the banks of New York in aid Of the government
to the banks of Boston and Philadelphia, their CO.
operation in the same be urgently solicited
AT the suggestion of Mr. w. A. Booth that the chair
man OF the meeting invite the secretary of the Treasury
to be present and hear report of the proceedings thus
lar IN relation to the Loan committee appointed to
wait upon him for that purpose.
After the action OF the meeting had been stated to Mr.
Chase by the Chairman, that gentleman addressed the
association expressing his entire satisfaction the
suit to which they had arrived, and his belief that it
would tend to the greater prosperity of the banks and
the highest welfare of the nation.
On motion, Resolved, That a committee be appointed
to whom shall be referred the plan adopted and the
various suggestions in respect to details who shall draft
them 10 the existing arrangements for the exchanges be-
tween the Associated Banks.
The Chairman appointed the following gentlemen that
committee, viz: James Galatin, G. S. Coo, IL. +. Vail
Jos. NJ. Price and J. Punnett.
On motion Of Mr.. A. V. Stout, il was
Resolved That the resolution offered by Mr.. Price, and
now lying on the table be referred to the last appointed
committee.
Mr.. Moses Taylor offered the following resolution
Resolved That the thanks of this meeting are due and
are cordially rendered to Hon. S. p Chase Secretary of
the treasury for the patient clear and forcble
IN which he has presented to us the financial condition Of
the government and the country in the several
views which he has held with while in the city; that
he has confirmed the confidence which we had before en-
tertaned in the wisdom, integrity and efficiency of the
administration of his department Of the government.
On motion Of Mr., W. A. Booth it was unanimously
Resolved That this meeting in assuming the grave re-
sponsibiy of furnishing means to sustain the govern
men in this important crisis, beg leave respectfully
express the President of United States its confident
expectation that the government will without respect
party personal considerations conduct its affairs
every department of administration as to insure vigor
integrity economy and efficiency to the triumphant term
nation of the war;
copy of the last resolution signed by the Chairman
and Secretary OF this meeting directed to be sent
the President Of the United States, after which the meet
ing adjourned to at twelve O'Clock Tomorrow at the
place. GEORGE S. COE, Secretary.
copy of tho plan adopted is herewith presented.
ccctiop ;ss,o 10 bo do br ho vy,..a
States Treasury Department of Treasury notes dated August
Ss s ar Nv %SDs r % that date
Of New Boston and Philadelphia
1sfsass se s %syi S es
SsT pSsi
agreed that no other stocks Sonds treasury
Pna ss, s ss
e Ssy
ss s sa
T nS:ssp sn a. s
selected by the Secretary Of the treasury
Ss
reimbursed The Treasury notes issued associates
Of per pc as
n h e To SSk
sary be connued) and the subscription shall
p exceed the
Sec On the LIST October should the associates for any
cause decide not to avail Of the privilege Of taking the second
millions already taken by them shall be apporoned d.
yided among them, rata and they shah make payment
by the associates ten per
cent shall be paid forthwith the Assistant Treasurer
Of ana ne the BOOKS s Of the be
ser9er stating the amount so paid and deposited and as
s e Of as
shall be issued in equal the subscribers
paid shall disc be issued and all issued such sub
scrbers shall bear date with the certificates and carry
interest from such date.
pa h aS GH ss rs ns
the associates due treasury notes sixty days
on account of deposits any treasury notes outstanding
Sec The transaction the part of the associates may
banks and S
which committee should meet daily for the direction Of DE-
s. In addition 70 the banks of New York. Boston and
become assocatesay trust companies savings banks in
sas % and % in lieu of pro
ton what amount Of interest they decide to take.
Philadelphia and the respective proportions pro
DIVISION would be as follows
Ban. ,,,,,,, Pro rate at \. Sr ,,;c.ss.
New York ..............$ 70,0D00O q, 10000
Philadelphia. ;.;....:...: 100000 100000
PSsladc;n;ha,' sM'%1
NEW YokK, August is. 1851. ''
The money market continues dull Capitalists
stead Of mercantile paper, and brokers look for
T. Iy..:A.l