New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-01-19

az
per cent" Very respectfully. H.R.,HgLBuRD,
j. Thompson, esq, Eew-YOrk ''o O"'''''''
Tho section Of the National Currency Act on which
the foregoing opinion is founded is as follows:
SEC. 30. and be JtGirr enacted That every assoca
ton may take receive reserve and charge any loan
other evidences Of debt interest at the rate alowed,r
tho laws OF the State Territory where the bank "a
any state different rate Is limited Cor banks OF sne
organized under State laws, tho rates so limited shall 10
allowed for associations organized IN any such State under
this act And when is fixed blythe laws OF the
state Territory, tie bank may take receive reserve
NAV be taken in advance reckoning Che days for which
the note, bill other evidence Of debt has TO run And
rate Of interest greater than tie Aforesaid shall be ei
and adjudged forfeiture OF the entire interest which
which has been agreed TO be paid thereon Andin case
greater of interest has been paid the person per-
recover back in any action Of debt twice the amount q
interest thus paid from tho association taking OF receive
within two years from the time the usuriOus transaction
occurred But the purchase discount or sale Of bona
place Of such purchase discount sale at rot more ha
the current rate Of exchange for sight drafts in addOq
ceiying greater rate OF interest.
DTessrs. Jay Cooke & Co., in settling the Ayres Mill
and Mining Company's affairs, did not allow them-
selves to be fleeced. They received from tho partv
for whom they sold the stock necessary TO settle ths
contract The transaction thus far has been daInae
ing to 10 one but the Company.
No settlement has been made in She dfspze be-
tween Mr. Vanderbilt and the New-York Central
Road. The latter corporation intends to have an
equitable business connection East and West and to
be satisfied with nothing less. The present quarrel
will expedite the early construction of road on the
west bank of tho river and give the Central odvaka
ges in freight which it has lOngneedcdn the Winter.
The Chicago Erening Post of Tuesday says:
Business in all its departments, continues du and de-
There is active demand for money from all quarters
but provision operators ana paekets are t%e ph a.
terror, chefyrrom those who are engaged IN handing
the hog crop. While the banks eyince Willingness TO
accommodate all the demands OF legitimate trade they
have to confess inability to do 50 in every instance,
case, the paper offered Is ngdy serutmzed ana only
absolutely firstelass names arc passed Second rata
only be negotiated upon the street at exorbtant rates.
We quote the money market stringent with an active do
nslnd from all quarters Rates Of discount reInainrm,
at 10 per cent for really prime paper Eastern exchange
is IN moderate supply, and rates are without espeea
change from yesterday. The banks report the buying
prices at lilo discount and from par to lilo OF per cent
premium selling.
The ST. Louis Republican of Tuesday notices busi-
ness as dull money in active demand, and New York
exchange in fair supply, at 11Oth per cent discount.
buying, and par selling.
The following is the Annual Circular of the MOI
camille Agency for 1867:
We beg to submit herewith the statement failures
during the past year compared with those OF the pre-
cedng ten years From 1862 to 1885, In consequence on
the war; it impossible to obtain the failures in the
Southern Staes statistics therefore incomplete
with regard 20 the country as whole; bat IN INC N9rth.
that during 1885, there is very eonSidcrane n-
in the number, as compared with the preceding
four years. and that tho amount OF abis les has been
largely augmented but taking into account the fahrts
from s5TO 1861 the failures OF the past year are less In
numborand than those OF any OF these Two
years and in view Of the enormously increased trade and
The unsettled condition OF generally.
the figures for 1866 cannot be caAed'exeessiye.