The New York herald., 1865-02-02

230 r. M.......... 2O3T
The revival OF the peace is creating consider
able distrust the pemanence OF values owing TO the
uncertain course OF gold, and lenders again very
critical Of commercial paper offered for discount The
banks and private capitalists desirous Of keeping
themselves In safe position against possible contingen
cies, and they prefer allowing funds to remain
unemployed rather than invest them In doubt
full securities. The curailment Of the loanable
resources Of the national banks, in consequence
OF the transfer Of the loan to Messrs Jay
Cook Co will increase the demand upon other lending
institutions and cause somewhat closer market in GER
tam quarters The latter firm noninally took charge Of
this loan day. but few days will be required TO prac
tioay rcarrange the system and meanwhile the various
repositories OF the Treasury viii continue to receive
subscriptions before In addition to the names we
mentioned yesterday, Messrs. vermye Co and Clark,
Dodge Co will be agents for the sale OF the notes in
this city.
The rate for money call is per cent, and the
from eight to twelve per cent
Foreign exchange is in very light demand at 1925 "a
for bankers sterling at sixty days and ITO u at three
days Merchants bills are quoted at 1857 100
There was specie shipment of sl56,352 by the
steamer Canada from Boston to-day.
Considerable dissatisfaction is expressed among the
financial community at the imperfect exhibition Of the
monetary business Of the city in the weekly OF
The Clearing House Since the Broadway Bank and the
Bank Of Commerce recognized under the Ma
tiona Currency act these returns have ceased
TO be a guide to the condition OF the banks
and II is almost useless to publish them The position
OF the two banks referred to at the end OF last week
represented By the following Ggures:-Loans, $2l ,67
10S; deposits, Sl ,307 ,0s5 specie, $1056974 which
much deducted from the aggregate Of the
weekly list The position Of the two exState banks in
question Is ra'her anomalous They stll retain their
places in the Clearing II use and make their daily
changes through IT, and yet fail TO enter their report
the end OF the week like their associates.
The banking system OF the country in transitional
state, which s always unsatisfactory for all
cerned The sooner, therefore, amicable adjustment
OF existing differences by which the two systems be
harmonized at least In practice, the better The
sy for weekly reports Of the whole Of the banks Of this
city admits OF dispute and these are times in which
there is for haltng because Of techncaiies
Therefore, II the members of the estab.
ished Clearing House will not admit the
national banks to membership, will be incumbent upon
the latter TO establish clearing house OF their own
Whether there two clearing houses only mat
tors but ttie but the public should have the
total OF the entire banking transactions OF the city and
Is 70 the interest OF the banks at present unrepre
scented 70 bring about this change possible
way Bank and the Bank OF Commerce have
70 mako their exchanges through State banks,
which is q process worthy Of ''the circumlocution
oce" and the transactions OF OF the former
much larger than the institutions through which they
clear II is useless to discuss the objections 10 the
tonsl system in this connection. We have simply to
deal with the fact that banks organized under exist
They cannot be ignored, and we want TO know weekly
what they doing.
The decision by Justice Nelson in the Supreme Court
In the OF the Bank OF the Commonwealth the
Commissioners Of Taxes, &c, in error, TO the Court
OF Appeals OF the State of New York.
has provoked much angry comment. This
however should be against and not the nterpre
tasion Of IT, given by the Supreme Court The proper
remedy lies in repeal Of the act Of Congress which
cxempts federal securities from State taxation Under
the present decision the Tax Commissioners Of this city
will have TO refund The for 1868 and 1864 amount
Ing TO about two millions and half TO the banks together
with interest and costa There is no reason why the
holders OF national securities should be exempted from
their proper share Of taxation considering that in that
svent . proporonately extra burden would be saddcd
upon che rest OF the community and therefore, Is TO
be hoped the law on the subject will be Immediately
|mended.
Yb subscriptions 70 the seventhiry loan the Frs.
r...sos, Bank today 500 $50 1
The Assist mt Treasurer at New York gives notice that
af,es holding thirty coupons Of the three years
th,rtiss due February IT, arc requested to hand
hom In at any time beOrc that date for examination
bey can then receive check the afternoon Of the
l.h and save themselves and the ONCE much trouble
,l.ut schedulos viii be furnished on application
nis reported that the extra dividend is not being
,.d TO day by the Loan and Trust Company an
Injunction having been served for $4,000, about one
,hrd OF the amount to be paid The suit is respecting
Tho claim 70 convert some Of the rst mortgage bonds,
and the difcul,y being merely technical wiz probably @
..,,.a 81 thu, the dividend can paid in day two
p.x,.,, NJ the dyldead on tho stock OF the
S5s Railway commenced this morning, according TO
notice.
The hghsa cash prices Of the railroad and msoells-
sous shares a the session Of the Board Of Brokers
a. day compare with shs quotations Wednesday Of Last
r.linu