The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-05-11


THE MERCHANTS NATIONAL BANK FAILURE-Gov-
EMINENT FUNDS WITHDRAWN FROM NATIONAL
BANKS
this city will not be completed till tomorrow. Some
rich exposures are threatened The government loss
will not fall below hundred thousand dollars
Since the failure OF tat institution government omcers
have been withdrawing their deposits to considerable
extent from tho national banks OF the city
and placing them in the United States Treasury The
National Bank Of the Metropolis has been called upon
since Monday for hundred thousand dollars
and the First National Bank OF Washington city is
ported TO have honored drafts for million or million
and half The fact Of such immense sums being left
upon deposit with institutions having perhaps not
fourth part Of the value put up security creates
little astonishment
GOVERNMENT NATIONAL REPOSITORIES.
popular error exists In regard to the designation Of
government national deposoiries. Many bankers
suppose that the authority TO designate such Is vested
in the Comptroller Of the Currency. By refe-
renee to section forty-Ave Of the Currency act
II will be seen that he has little or no
control in the matter. The designation Of the
national banks to be public repositories being directly
connected with the disbursement receipt OF national
funds and the whole of this branch OF national bank
business being transacted in the Teasurers Office has
not been the practice of the Department informed
to advise with the Comptroller upon any designation
about TO be made
CIRCULAR FROM THE TREASURER OF THE UNITED
STATES TO THE NATIONAL BANKS.
The following Is copy Of circular addressed TO
cashiers Of national banks:-
TREASURY DEPARTMENT, TrEAsrRER's OrrcE,(
WASHINGTON. May g. 1866
SIRYou are requested TO render 10 the Treasurer Of
the United States, simultaneously with transcripts OF ac
hold TO the credit OF each disbursing officer Of
the United Safes arranged under the heads OF war;
sna n an the Of e1s
blank lists used for the return Of internal revenue will
answer for tho reports These Instructions are intended
issued under date Of July 10 1896, returns Of that
description being now required for his Office strict
f. e SPINNER Treasurer United States
Approved: HUaH AcCuILoof, Sec rotary Of the Treas
rAYxAsTERs TO REPORT WEEKLY TO THE TREA-
sURER OF THE UNITED STATES.
The following circular has been issued
PAYxAsrm GExxRALs OFFICE
WASHINGTON, May Q, 1896. I
Each paymaster will at the close OF each week. report
TO the Treasurer Of the United States direct the deposit
balance Of public money TO his credit designating the
place or places of such deposit
B. W. BRicE, Paymaster General.
THE PROPOSED NEW FIVE PER CENT LOAN.
As evidence Of the manner In which tho proposed
1--WE per cent loan would be acceded by business
and bankers, II may DO interesting 70 know that
wealthy gentleman Of New York has already made for
NAL application for two handred thousand dollars pro
vided shall be thirty year I've per loan and tha
he have his bonds in consecutive numbera
INDIAN TREATY.
Tho President has proclaimed tho treaty recently
gotated with the Bos Foot band Of Chippewa Indians
by which they cede 70 the United States oil the lands
heretofore claimed by thsm and especially that
portion Of their territory At and Lake vermiIlion,
reservation. The government In consideration Of
this important cesson viii give them land elsewhere,
and provide for their domestic comfort
SECRETARY suwxRD At HIs POST.
The telegram from Harrisburg that Secretary Seward
passed through that city yesterday, roe for New
York, Is incorrect The Secretary was in Warrington
yesterday and Is to-day a the STATE Department - usual
THE BRITISH GOVERNMENT AND raD cUNARD
srEAMsnIP COMPANY.
Authentic Information hes been reoeived that the
British government has notified tho Cunard Company Of
the termination Of their mail subsidy when the present
expires next year. The policy Of disseminating
special subsidy grants for thu tr.n..''-.'. -'i ssvs
under which system Of mouopoliss was granted 70
certain steamship lines and Of establishing self sus-
tanning service the basis OF postage earnings
inaugurated BY the Post Once Department Of unis
country and 20 successfully defended and maintained
by Postmaster General Dennison In his adm In israon
Of the department IL thus concunsd In BY the British
government This intelligence win be gratifying 70 cor
respondents both sides Of the Atlantic nasmuch ~
the heavy subsidy psd BY the present government 10
the Cunard line Of packets has been tho
chief obstacle 10 the establishment Of reduced
rates Of postage between this country and
the United Kingdom and to countries beyond
using the British means Of conveyance. IL will also
strengthen the Postmaster General In h opposition 70
the various speculative lobbying schemes for mail sub
sides which arc being pressed upon the consideration
Of Congress BY parties desring monopoly grants 70
establish steamship lines 70 Europe. Tho public may
now look forward early reduction Of international
hostages 70 European States advocated In the last
nuai report Of the Postmaster General.
PARDoHs.
Warrants of pardon were ordered by the President
be Issued to-day 70 two citizens Of Texas Of Alabama
and one Of Virginia under the thirteenth exception. An
order has signed by the President directing pons
10 be made out for fifteen North CArolinisns
THE EMPLOYEES IN THE NAVY DErARrnESr.
II appears from Communication 10 the Navy Depart
ment in answsr the resolution Of the House calling
upon tho several departments for information In
relation TO appointments that there arc employed In
the one named sixty seven clerks, Of whom twenty
served in our army or navy during the rebellion Further
there Is not any among them who engaged in tho
rebellion since March Q, 1895, when resolution wa
passed that soldiers and sailors should have tho prefer
encc In appointments. No one has been appointed Ia
the Navy Department who has served either In the
army or navy
THE PRIZE RING.
The disciples Of Fistana tonight are confident thai
match will be made for contest In the prize ring BE-
tween Johnny Lazarus and Collier, but no money ba'
been deposited yet Two shooting Affairs and half
dozen knock among the results Of the late mil
In Virginia the last demonstration having occurred
the avenue this evening.
THIRTY-NMTH CONGRESS.
First Session.