New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-10-22

at I'D. and 700 bales Cotton on private terms. To
LODdon-4OOoo bush Wheat at iild. To Glasgow.
per steamer 81. 900 bush. Wheat at l5d. To Rotter
dam. 100 bbs Spirits Turpontine at Co. Cd. A brig
from Philadelphia 10 tho Mediterranean with Pctr0-
leum on private terms.
The active money market and tho contraction Of
accommodations 10 brokers Is bringing up for dis
custom sOmo new features In tho bank machinery.
as run at the Clearing House. fcw of the banks
cultivate brokers' accouns-in fact their business is
almost wholly Of such accounts They certify a. good
tho checks of the brokers TO an alarming amount dur
ing the day trusting 10 tho ability and honor Of tho
broker 10 make up his account after o'clock.
The ability of the bapk 10 pay its debtor balance at
the Clearing House the next morning. depends. in a
good measure on tho brokers making up their ac-
counts. Should the brokers fail to make good their
deposits and resulting cause. the bank fails to
meet its debtor balance at tho Clearing House, what
is the remedyf
The Clearing House rule ia that hG brokers check
shall be paid and thai tho debtor balance Of he dc
JduRO bank shall be made up by an assessment on an
tie Clearing House banks pro rata 10 capital ana the
banks become creditors of the defauting bank Tor
the amount assessed In this way the certified checks
a brokers' bank are guaranteed by tho whole OF
the associated banks. 1t seems hardly possible that
the directors and at0ckbodeps in the solid cOnser
yative banks those that refuse TO keep brokers ac
counts fully understand that their bank guarantees
all the brokers checks by their being certified at
brokers' bank when it is known that those banks
certify to the xtent OF s. 900 0OO sSOOO0O. $l0UOOW
per day. Our remarks on this subject are intended
to direct the attention of stockholders OF banks TO
one of the incidental liabilities that rests on them ~
partners in the business This partnership involves,
In haV.l huf
amount equal to the shares to DO assessed by re-
ceiyer if needed in order TO liqudato the debts OF
the bank.
The Ne,g- York Stakeholder and Monitor Of Finance
for October IS says in relation to Express Companies
For September are IN receipt OF returns for only
the United states and the Merchants Union" These
states aud gain of S931477 those Of the Merchants
Union compared with the same month last year In
answer inquiries about tho Merchants Union Express
stock we would say that the stock Of this company on
which partial payments have been made Is not Called az
street is owing 90 the fact that all assessments are past
due and under the articles OF association inc company
be forfeited on which calls are unpaid We earn th9t
several hundred shares have already been forfeited IL
IL. OF course hazardous to deal IN any except lha ON
which thrty-hve dollars per share has been PAID We
ters meeting at Auburn last week and report The affairs
OF the company III highly satisfactory condition. ana
permanent establishment OF their large business enter
prise No further call was made upon tine stockhodora
nor IL lneTc any, We are boauttu'
The Chicago Republican of Saturday says:
The close features Of the money market which have
been noted for days past are still retained ana on
acceptable business the full rate OF interest Is Oh
tanned Some the banks report that they have more
applicants for loans than they are able to accommOdIte
The fact is that all first-ciaas dealers In pro
duce and merchandise get what money they are IN
need Of and it is only paper which ~ purely speculative
that the bankers refuse 10 take. Legitimate business O
eratiOns scale sufficiently large to absorb III the
offerings OF ready capital The rate OF interest rs 10 per
cent per annum Large sums Of money will he wanted
ne 1t month, rs ~ the packing opens aud
this demand will be provided for
The Cincinnati Commercial of Saturday says:
Exchange little more plenty, but the demand Is
steadily large that Surplus Of consequence was ere
ated by the days business. IN the tone OF the money
market changed by the days business IN the
direction OF greater ea produced ny Detter teceIs Oh
currency shown both In local deposits and receipts
from interior banks. This tendency, however. even II
very much marked. would not make matters mate
rally better for irregular borrowers since bankers ARE
reserved in dscOuntng the paper of those who have
absolute claim them. The prevailing unsettled feel
ing in business CIRCLES quite As much as anything else
perhaps, influences them ia their conservative notions
Extract from letter to McKillop, Sprague & Co,
dated Choctaw Corner. Ala. Oct. Z, 1867:
The cotton crop short, owing to drouh aud worms
think though that the crop may safely he put down at
2OOOOOo bales have in the last month had good OPP
DOrtunity TO South West Georgia. good portion OF
kiahama and Eastern Mississippi Planters as a general
thing will not be able TO pay for advances made to pro
duce the crop Our prospect for collecting old debts u
over have attended to this matter strictly now for two
months. and out OF about 7pJ may be able TO realize
81 600 II Is not the intention OF planters 10 pay any old
claims and think that most OF the debts contracted
since the ore la like condition The old merchants
would be glad TO II they could. but the thing IL out OF
the question unless they realize something on old claims
We held off from submitting propositions to those whom
we owed with the hope Of being able TO collect some
money but hopes all gone we brought some suits
and the result have the costs 20 pay and get
money II is "A sad state Of affairs here. could pay
about the dollar the principal OF what
bat a yet has been willing to accept the offer