The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-12-04

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EYren the number Of banks organised heretofore
ne deducted thirty four leaving tho number In active
'opsrsa,on sIz.e.n hundred and thirty nine
The banks 70 BE- excluded are the following
NEVER ooMPLHKD THEIR ORGANIZATION.
The First National Bank Of lansing Michigan.
Ths secona National Bank Of Canton, Ohio
The Second National Bank Of Ottumws. Iowa
feUfsRsEDHD By SUBSEQUENT ORGANIZATIONS WITH THE
The rirs. National bank q Norwich, connscs!cu.
THE REcEIyERs.
The First National Bank OF Auca, New York.
me Mercnants' National Bank Of washington, Dis.
sf1Slct OF Columbia
The First National Bank Of Medina, New York.
The Tsnnessee National Bank Of Memphis, Tennessee
The First National Bank Of Selma, Alabama n"'''"A
The First National Bank OF New Orleans, Louisiana
The National unadilla Bank Of unadilis New York.
ryn. New York.
i'm VOLUNTARY LIQUIDATION CLOSED AND CLOSING UNDER
rHs PROVISIONS OF SECTION foRrY-Iwo OF
the First National Bank Of Columbia, Missouri.
The First National Bank OF Carondolet, Missouri.
The First National Bank Of Iconardsviile, New York
The National Union Bank Of Rochester, New York.
Sincc October l. 1906
The First National Bank of Elkhart, Indiana
The First National Bank of New Ulm, Minnesota
The Farmers' National Bank of Richmond, Virginia
: The National Bank Of the Metropolis, Washington,
District OF Columbia.
The Farmers National Bank of waukesha Wisconsin
= The National Bank Of Crawford county, Meadyilie,
Pcnnsylvana
The City National Bank OF savannah, Georgia
CLOSED FOR TIE PURPOSE CONSOLIDATION WITH OTHER
RANKS.
The Pttston Natlona Bank OF Pittston Pennsylvania
of
pennsyvania
The Bhkshrs National Bank of Adams. Massachu.
Uctts, consolidated with the First National Bank Of
The Fourth National Bank OF Ind anapo,,s Indian,
consolidated with the Citizens National Bank Of Indian.
apolis. Indiana
q Since October l. 1906
: Tho Kittanning National Bank Of Kittanniuq Penn
eylvsnia consolidated with the First National Bank Of
The First National Bank Of Providence Pcnnsylsania
consolidated with the Second National Bank OF Scranton
Tbs National State Bank OF Dubuque, lows, consol.
dated with the First National Bank Of Dubuque Iowa
dated with the Merchants National Bank Of Cincinnati
Ohio
II is unpleasant task but nevertheless the per-
Torrance OF duty, to submit the following statement
relative 70 the abstraction. a various tme OF unnn
In the summer or 1864 was ascertained that pack.
ages OF forwarded to certain Western banks
each found TO be short or the required by
impression q sheet containing four noesl. This hap
psned intervals for several months Thsn for nearly
-
psssssss o. noiss in the ooustns room Of The oes;
and one hundred dollar OF the National CITY Bank
OF Lynn, MASS, msssd. From this time there
when package containing sl2 600 in hftes aud hun
rcds OF the First National Bank Of Jersey CITY, N J.,
Al each Of the periods when these frauds took place
Investigations instituted and dligent efforts
The last robssry vas discovered almost Immediately
opoa y. taking place and vigorous measures were At
T6sss is reason 70 believe s Effort was moi
rul, . man who had been employed In the counting
dental capacity, was arrested and, upon examination
bcforh proper authorities held under bonds until the
nss MOI ), taken place mo case Is s.I pending Il Is
:nsrefcss not deemed sspsdens TO enter more into do
be Investigated BY abe Criminal Court
RANK vAnuREs
occurred June 20 1863 up 70 October 1851, period
OF four and three months ton national bank
cations have failed.
Their aggregate liabilities 10 tho public are.
.nsposiss ana a:Aei aiities to iis public zoo
sfSs c,rci.ian Mil Be- paid IL ia 20 thai ths public
will suffer loss from that source and tho bonds de-
posted security FOR The same would 10 day realize
payment or general crsdtors A careful estimate Of
abe assets leads TO the conclusion thai they will realize
~. -. s a ss sy u.
Through their failure about $1,000 00ot
The national banks not exempt from tho disasters
which common TO NIL banking Institutions and bust
mos corporations. No system Of banking however
perfect protect the stockholders the dsposiors
from sucdaa oss neths, can the mos, s,rnsens iegis
laiion nor the greatest deee o. watchuness and care
neglect OF the Fundamental principles OF good banking
Tho failures OF national banks which have thus far
occurred may, IN evsry nsace be directly traced 70
the dishonesty lncompeteney OF bank officials and the
hataa violation or the pianest provisions Of the Law
state banks with capital impaired BY bad dsbts have
boon raorEanxsd national banks without sufficient
scrutiny INTO their Affairs and such failures mass % At
fcen Of these banks arc preudiosd IN favor OF the
State syse Of banking and not yet accustomed to
AGA such patusions win DO liable 10 failure until their
capital h restored By assessments OF they are forced
into voluntary liquidation.
banks the sixteen hundred and seventy three ma
ona hanks Of the Union during the past four years bad
oeen th times greater they would stu tn the aGgrc-
al Bank al Liverpool. or tho Commercial Bank OF
"a institutions which we're supposed 70 be con-
upon the most approved system OF English
prpxvsrrcSs
IL s important 70 establish, as early as practicable,
system OF redemptons which shall DO comprehensive
and thorough Tue circulating notes Of national banks
are uniform In design and appearance and are equally
well secured BY the pledge Of United states bonds
Their ultimate redemption established beyond quss
ton. II only remains 70 make them convefbla This
can be dons only BY making them rndeemable at CON-
mon centre which should pe me csn.re o. ~ 'aas
cula0n win 10 regulated strictly by the demand when
volume shall DO greater than necessary 20 40 the
business OF the country the banks vii Ne called upon 70
redeem the surplus aud II viii be retired when trade
IL active and more rcqured the banks vii
expand their issues, and rcdempiions VIII net % oe
handed unul the season OF activity Is over " al tne
banks required 20 conform 70 unitonn standard OF
responsibility tfs parte1lsr tho bnrden Deng elus
sNa' amonx 81 "a psopnrslon 70 ne. ~ a NM ,..a