New-York tribune., 1867-01-03
BANK REPORT.
BANK DEPARTMENT.

- -, ,.,,. n, reo;e,ob,re Of he state Of Ne0 York:
The operations of this Department. and t9 Geo cGndi S
ton of the Banking system OF tRe 10y S5 trce @ and by
comnarjson of Table No. OF this Report WITH 0''''
on page OF the Report OF last year he condensed as
These operations anu eiis S0"'
follows: sool 35i 90
ION returned All Cancelled $Co 20 20
Si,i,' an nutsaudi Sept 80, 1868. 2OC45y W.
Circu- outsand Sept 80 lSoO iS6O595s 90
Deere in Crcuatio 40 i''''''
Stock Iortgaggs Cash seSgT,iss to secure GS,
10 Gil 'o" do. d. sept 80 lseO......... Il S 70
DeSe3qe 3 & Of SeSgTSi 1865 iii Banks reported to this
Depamen on the 2h september 1865, but 90 BANK BIZ
these oIonger reporting eight have been converted
into National Banks during the year. ana uo I fhSr
corporate organization, and are no longer dOlnS business
under the Banking laws of tins STATE. &, to last Re
mort from this Department has been progressing r"py
during the year. ,,ors ore the causes oper-
ating TO produce them beyond the power h G n"
legislation to affect or remove ana refused to
grant even the negative relief applied for ana nave o
hope of any change Of purpose IN that hemsSlves Of
the provisions OF the law authorizing uepos' oi sj
with tbe Superlntendent for the rcdemptl0n dung sin
wears of their circulating notes. and have WlthdraWh Ill
Other measures looking to retention OF securities IN
| ueu of making "A cash deposit, will doubtless DO uged
upon the attcn Spn Of the Legislature by parties
Willie the present provisions have proved adequate as
proteotlon To- the public and have afforded simple,
rhean and eccous means Of redeenng the circulation
~ cpspe baks and have imposed considerable bur
den upon the banks themselves there ls PeraPs no % V
lection to change in the law that 6all stu alIoru u
guest toned security 10 the bllh0lders, more WeBny
than that IL will tend to keep IN existence tn3
beyond period when 1t might Othcf"lse DC uiSpouSoo
Two banks the E. g. Rch Bank Of Exchange an ndi-
vidual bank located at Buffalo, and the mon BANK Da
ing ASSOCIATION located at lion, have become lhsOeht
during the year. the former passing INTO the andS Oh bs %
sgnees and the latter into the hands Of receiver Ing
securities OF each viii be ample Tor the FeuehPt'on VI
Thomg occurring since the close OF the fiscal year, # IS
proper note the fact of the organization ub1st INC
Banking Laws OF TINS stae o. S do S" n csIled M fbe New
York Gold Exchange Bank It gratifying testimony
10 the simplicity and efficiency OF our system OF rec
banking that With all the determinations agSnsC nat9
Banks by the General Government bankers sun tln 10 IL
as the model system Of the country aud capitalists or
ganzo under 1t wherever the e3nr.e oi business - s t 9
viii enable them 70 dispense Win the Issue oi enVui"oh
as a source OF profit.
Pursuant 10 the provisions Of an act OF the last legsa-
available assets OF the safety fund into cash. and declared
dividend Of 40 cents ON oacpdoar Of the outstanding
circulation Of the Lewis County BANK Yates county
! Bank Bank Of orleans and Rociprocty Bank
Before arrangements FOR declaring such dividend were
mcnced proceedings against the superintendent by APP
pncaton for mandamus 20 compel The payment to MN
Tor the benefit Of creditors Of the Yates County Bank
Of the whole of the Safety Fund. Believing the assump
on Of the Receycrt be wholly unfounded IN Ia%' ana
trayenon Of the order above cited the undersghed y
cousel opposed the motion before special term OF the
/
His authoriaye exposition OF his duties the gu
pcrntendent felt that he would be longer justified in
delaying 10 comply with the plain ana mandatory PioNs
Ion, Ions o ,ie apo,c % % T w. him 70 an action by tie mar
tcs for whose protection the aCt was passed. TO which ac
| tlon he could nterpOse no valid defense, ,
The superintendent therefore, entered upon the duty
imposed upon him, Notwithstanding the fact OF an appear
from the dec-o of the Special Term. The appeal has
been argued before the General Term of the Supreme
Court but decision has yet been pronDunced' l'rcm
It Improbable that any other concn SION shan be re- ed
|
viii bee an expenditure FOR legal services OF portion OF
pose But IN any event am very clear "a to the cor
The amount OF cash held for account Of the several
''''''' HrsiNEss OF THE DEPARTMENT
II viii be that the work ~ the department, except
the rtgstrution of notes has greatly exceeded that OF
mo't pig'@loei @ e yes cr D, ros "a. tbe epercSs Of
/ ali employed - their fullest extent.
ton Of tho business o the Department rendering u neces
sary u times 10 have sufficient force for any emergI
clcs Of business n has bccu found impossible to reduce
The clerical force Of the Department, aud, ~ conse.
quencc, the expenses could not bo materially essoncd
It. however anticipated that some reduction OF this
expense may De pGtiS1' @ during tg 'ptiIns year
Table No. - Is let Of Bank note plates destroyed dur;
ing the year Quite large number OF plates OF closed
banks await destruction, which VIII receive attention
~ "- '''' CLERKS T, THE DEPARTMENT
The name and compensation Of the clerks In the
! Department will De found IN table No. ,-,,.
The legislative increase ofcompensaton OF the clerks IN
the several departments extended to the clerks
I'm this Department act OF juscc or Indeed OF ne.
cessy. Upon do the ncOnycnenoes OF deprecated
currency ana the burdens OF taxation and inflated prices
ran heavily upon those whose support Is derived
! from fixed incomes "a in the form of salary
Most OF clerks Of this Department have been en-
ploycd here for many years " them from ts or
eaizatiou, and choerfuy bear testimony to the ability,
courtesy and integrity with which the duties Of each have
/ been discharged
CONCLUSION.
From the statistics herewith presented II VIII be seen
that Passing Away !. written upon the Banking system
tho NcWYOrk IL is useless 10 sit In sorrow,
or 10 indulge vain regrets the dissolution OF "a
system that has long muisepd AZ acceptably to the
material prosperity of the State in the march and prog
ress ~ social revolution, creating new financial eNgon-
ces II been swept away leaving 20 us, however, tho
hope that the larger growth and higher demands OF the
opening may De as fully served and answered as nave
been those ~ the closing upon our sight. Ro-
| spcctfully submitted, ,.
| GEORGE W. SCHUYLER, superintendent
.Snc. he written the General Term has aGmed the de-
cIslnn o hs Noln hroN.