The New York herald., 1865-01-01

advanced became stronger and closed arm The quota
sions were:-
1880 A M......... 225x s:so p NJ. .......... e2e,t
n:25 M......... FAX o:30P M.......... 2261.
lao p M......... AT 6:0oP M....... 2273;
The stock market dun but steady at the rst board
although the 'boar' interest is still actively work
The closing quotations showed but slight variations
fFom those Of yesterdays second board. Erie, Illinois
Central Cleveland and Pittsburg Hudson River
steady New York Central advanced TX, Reading 2,
Michigan Southern y, Chicago and Northwestern u,
Rock Island y, Fort Wayne y, Ohio aud Mississippi
certificates u. Quicksilver declined X, Cumberland
Gsal !, Aariposa Y. % n
meeting Of the stockholders OF the latter company
was held this morning In Gilpins room, the company
scs beng inadequate for tho accommodation Of those
attending IT. Tho President Of the company Mr. James
Hoy addressed those assembled respecting the affairs Of
The company About $780, 000 Il stated required
70 pay coupons and other claims and defay the working
expenses Of the mine Seventynve thousand dollars in
gsd needed to meet the drawn bonds and .he January
coupons, and sixty thousand TO honor sight draft nom
she superintendent Of the mine About hundred ard
Forty thousand dollars in currency remains tho credit
n she company in New York, which Is held as a
serve fund. Mr. D. D. Field, Ar. George opdyke and
others connected with the management Of the company
were present at the meeting II was stated that the
ns immediate cause Of the pecunlary difficulties OF
The company The meeting resulted in the appointment
Of committee OF Ave -bondhodcrs take into
alteration tho best Of providing for the necessities
q the company, and was therefore, adjourned till
- Tuesday. ,
Government securities were heavy Coupon five
twentes declined u; skies OF 1881 X; ten forties
IS
Al the open board the market was stronger and quota
tons improved
Hsie closed At sbK, Hudson River 11e, Reading 49,
Hinois Central l27, Cleveland and Pttsburg 97s Fort
Wayne loax, Northwestern asX, Quicksilver 1905
Cumberland Coal "A, Mariposa 19X.
Later the street the market both for railway and
miscellaneous shares and governments, active and
the Improvement especially in Erie continued This Is
attributable 10 the circumstance that deliveries viii
Ake place TIN Tuesday, when easier money market Is
lsoked for
The Secretary OF the Treasury has notified his willing
nsss To- Mr. Stewart the subTrcasurer in this city,
receive the outstanding five per cent legal tender notes
payment ofsubscrpons TO the ts-forty loan previous
% s withdrawal the 7h nst and TO allow the accrued
Interest thcreupon. Ia estimated by the Treasury
Department that hundred millions Of these notes arc
y the hands Of the banks and the public and that nearly
A Of this amount is boarded by the former In the great
onancal There are three denominations of these
y,
recommended, and which Congress authorized namely
sae year notes. two year notes and two year notes with
souponsall issued under the act Of March g. 1885, OF
ee nrst there in circulation millions Of the
second sixteen millions and Of the third forty
0iiiions according to the Official cacustion but II
would not be . matter for surprise II It should
- discovered that these figures overstats the sum
asary twenty millions II Ia also in contemplation to
ssssve payment BY instaments to the loan, in order
ehaa the money market may be little deranged as pos
ahls by the payment Of the anticipated subscriptions
There can be no doubt that this arrangement wiz
sulate subscriptions TO the ten fores and contribute
- the Of the money market but the expectations
- the Treasury with regard to may not be altogether
ssaized. The ave per cent notes are, no doubt,
extensively boarded; but they arc very convenient
hod for the banks especially those under the National
Currency law The latter institutions In the principal
stes ara required 10 keep twenty-five per OF their
onoas In circulation and deposits In lawful money OF III
United States, while those in the rural districts
eared 70 keep at least nfteen per cent reserve
whether o. uos the law s strictly complied with II is dif
esnA 70 ascerain, but the probabilities are that In sa
sses II is not for there is system Of inspection estsb
Eshed by which the point can be determined The sec
sou q hs act referring ten and approved June 1884
sscssl aAwd I'D wsasy enacted That every associa-
tAen in the cities hereinafter named slrs st an times
hass on hand IN lawful money Of the Uniisd states an
Of M n sas o. r:
s.S sys s sSs sy q a. sys or
And whenever the lawful money Of any association in any
q twenty-five psr csaau Of iss crculston ana deposits
end whenever the lawful money Or any other association
.on and deposits sch ..soc,son shs not increase crease
- liabilities by making any loans discounts other
wise than BY dscounting purchasing hills OF exchange
sasi the required proportion betwsen the Aggregate
amount OF its outstanding notes Of circulation and de-
isssored provded that tareeafsss II siid fifteen per
esntpm may consist Of balances dus 70 aescciaton
svaan!s FOR The redemption q y circulating notes from
rsney, organized undsr this act In the cos of g. Louis
Louisville Chicago, Detroit Milwaukcs. New orlesns
Boston New York, Albany IeAvenworth, San Francisco
aad Washington city provided also, that clearing house
or c " ssv 2, ssrrc sass.
ssasion, shall be deemed 20 he lawful money in the pos
sssoa OF any association belonging 70 such clearing
house holding and owning such certificate and shall be
oonsdered to bc part Of the lawful money which such
association required 70 have under the foregoing pro-
Charleston and Richmond may be added 10 tho
mt OF cities In the national associations Of
Which other associations may keep three nf.ss q Their
rcer Of the Currency the condition of The Southern
States viii warrant H. And II shall be competent for the
whose lawful money reserve as aforesaid fha be below
tAe amount 70 be kept On band, as aforesaid TO make
good such reserves and such association shall fail for
thiy days thereafter make good s rescryc on law
ful money Of tho United States the Comptroller may
with tho concurrence Of The Secretary of tho Trsury
appoint receiver TO Wind up tho business of such sso
oaation, as provided In this act
The State banks however hold portion of theif CAPT
tal In these notes both moderate Investment and
provision against contingencies requiring the rcdeinp
ton Of their notes But Ia not the intention OF tho
government TO withdraw from tho aggregate circulation
whatever amount Of these notes may be paid In
sount Of the ten-forty loan They win be Immediately
replaced by compound interest six per cent notes which
vtn enter into active circulation and contribute
70 the OF tho money market for little
while, .ply TO be Afterwards hoarded in like manner