New-York daily tribune., 1861-08-17


President Of which il absent He will doubtless as nj
TO the plan when he retu1,s We learn alec by tele-
graph that at meeting of Bank Presidents held IN
Philadelphia to-day, the scheme was unanimously
adopted The agreement with Mr.. Chase made yes
terday was submitted to-day in many of our Bhnks to
the Directors for ratification, it being the regu-
lar Board day, and in no case was there
anv ob;ecti,n made 10 the action Of the
officers There was the same patriotic unanimity
shown IA was observed at the meeting which adopted
IT, The banks have had several applications, in large
amounts from trust and insurance companies, private
capitalists &C., for participation in the bank scheme,
and there is every indication thst the public will come
forward and relieve the banks OF considerable portion
Of The notes they have taken before il will be neces'
sary for them TO the second y millions. The
twoy per cent notes are receivable in payment on
the second fifty million subscriptions and this fact has
tended to increase the rmDess OF that description to-
day. We annex Oh official statoment of the proceed
ngs at the bank meeting yesterday show the spirit
IN which our bank officers met the crs in our national
finances. II is I record of honor to every man con-
nected with it:
PRoCEErNGs Of he-fag Of BGnk Officers held on TaU'doy
fL9asi -. 1861.
An adjourn ed meeting Of Bank Officers was held
this day, at the American Exchange Bank, at III
o'clok a. m j. a. Ste hens esq.,, in the ch,ir, and
George =. Coe, Secretary, Mt which the following
Banks were represented, viz: Bank OF New-Yoik,
Manhattan Company, Merchants Bank, Mechanics
Buk Union Bark, Bank of Aneica, Pbenix Bank,
City Bunk, Tradcsmon'r Bank, Merchants Exchange
Bank National Bank, Butchers and Drovers Bank.
Mechanics and raders Bank Bank Of The Stale Of
NewYork, American Exchange Bank, Bank of Com
merce, Ocean Bank Pacific Bank Bank Of the Re
public, Peoples Bank, Bank oi North America, llano
yer Bank, Irving Bank METROPOLITAN Bank Saint
la. nd Ram (ot in
Bank, Bank OF Commonwealth, Oriental Bank
Marine Bank, Atlantic Bqnk, Importers and Traders
Bank, Park Bank, Mechanics Banking Assocaiion
Grocers Bank East River Bank, and Manufacturers
and Merchants Bank. Thirty-5even Banks at roll
coll subseQuen Is tie Citizens Bank aud tie Market
Bank were repre- sen'ed,
The following banks, members OF the Clearing
House As ocati0n, were not represented viz: Fulton
Bank, Cnemc4 Bank Greenwich Bank, Leather
Mabufl,t uer-' Bank Seventh Ward Bauk, Broadway
Bank, Mercantile BaIk, Chath IN Bank, Na sau Bank,
Corn Exchsnle Bank, and North River Bank-1
banks not repre,ented.
Tie minutes of the meeting of the l4tb inst. were
read ard approved.
The Chairman called tie attention Of the meeting to
the second section Of the report of the Committee
amended, but not adopted by the meeting Of the pre-
cedmg day; full discussion Of the section amend
cd followed, participated in by Messrs J. f. Williams
w. A.. Booth, Caleb BarstOw, VI. NJ. Freeman, Shep-
herd Knapp, Jos. NJ. Price, Thomas Tiloston, james
Punnelt, james Gaatin, George 5. Zoe, J. A. Ste
vens, Nessis Mercer aud Patterson OF Philadelphia,
and Gray of Boston. During the discussion, Mr.. Pun
nett offered the following resolution, viz:
Re,r,d That 1. the OF this meeting, that the secre
sy OF the Treasury hJud only resort T. the ,'ne OF IIeagy
Notes payable on densnd very let reso se 81 other
modes se have been exhausted THIS resolution
sfer.srd Withdrawn.
Mr. Gray Of Boston presented the following plan for
the consideration Of the meeting, viz:
The banks OF New-lork Boston and Philadelphia,
with such other banks may be associated with them
uudeF regulations to be established by the banks OF the
three cities named TO take Of the United States Gov
enment, loan Of one hundred and fifty millions Of
dollars.
The whole amour, of the loan TO be placed at the
cld Of the United States the books of the several
banks, and to draw interest at the rate OF $40 per
cent per snnum from this date.
The Secretary Of the Treasury 10 draw the sums re-
quired from time 60 time, but not exceeding fifty mil
lions in the aggregate before October T. ls6l nor ex
ceediug an additional fifty millions in the aggregate
before November y, 1861.
Pyovided, That if the Committee Of the Asso iated
Bauks give notice TO the Secretary Of the Treasury
or before Oct. L. 1861, that the Associated Banks de-
sire not 10 take beyond fifty millions OF said LOAF, the
agreement Is entirely at AN end for any amount beyond
fity millions, in which the Banks shall have no
csim for interest any amount beyond fifty millions
of the original sui scIii tlon.
The second section o. the report Of the Committee as
amended was then adopted by unanimous vote.
The third section OF the report then read. Mr. |
Barstow moved 10 amend the section by inserting 30
e. cent in place Of IS y cent. The amendment was
adopted, - Banks voting in the Affirmative and
Banks in tho negative
MIR Vermilye moved TO strike out the words incOsed
in brackets at the close Of the third section follows
viz Except that the interest and proportion OF no
one Institution shall exceed Onetenth OF the whole
After an explanation OF the object proposed by the
clause made by Mr. Vail the proposed amendment /
was Withdrawn by Mr.. Veimilye MIR. Gallatin re- |
newcd the motion, which Was seconded by Mr.. Pun
nett
Mr.. j. T.. Williams moved to add the words Fifty |
Millions Of Dollars 70 the clause after the words one
tenth Of the whole.
Mr.. Gelatin then withdrew bis motion, and the |
an endment proposed by Mr.. Williams WAS adopted.
Mr.. Price proposed the following Gs substitute for /
part Of the third teciOn, viz;
Realsed That the thus purehsssd received shall be
held IN iru by Committee sppo for ;ha, parpose io the
respective Associated Banks in tie proportion that tho whole
empowered TO dispose Of the same Ia sums TO suit uehs's for
Resss5 Tbs aid Committee shln sPportion esch Bank
the amount required 20 meet the cent Of esh stated dt Of
such shall have beer made since payment Of The next
pecedlt dIsis o sna tl, 'nsy aspO,n s a.
po ln,d monthly deducrs the expenses properly per
tsinns 70 the discharge oi their dais
On motion the proposed substitute was laid on the |
table. The third section as amended was then adopted
by unanimous vote.
The fourth section was read, and without alteration
adopted unanimously.
On motion, the whole Of the fifth section, report
al was withdrawn by the Chairman OF the Commit |
tee, aud the following substituted viz;
OF the snms subscribed by the Associates ten per
cent she'll he paid forthwith to the Assistant Treasurer
ut Ncw-York Boston, Philadelphia, and the residue
sha be pa ed the credit Of the Tn ted States on the
books Of the Banks subscribing, and certificates shall
be Issued TO each sabscrber stating the amount paid
in and Deposited; aud as fast as the deposits shall be
Withdrawn or paid into the Treasury which shall be,
s nearly a. may be- In tho proportion Of the several
subsciptous Treasury Notes bearing 3O-lOO inter
est shall I've Issued in equal amounts to the subscribers
respectively and when the deposits shall be entirely
paid TO The Uu-d States-Ireasury Notes for the ten
ner cent originally paid, shall also be issued, and al
notes issued 10 such subscribers shall bear even date