The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-08-25

OF the First National Bank ~ Jersey Ciky, N. j.,
stoen; Al each OF the periods when hese frauds
TOOK place Investigations were Instituted and dill
gent efforts were made to discover the perpetrator
Dut without success. The last robbery was dis
covered almost Immediately upon its taking place,
anu gorous measures were at once taken to detect
anu bring the guilty party TO justice. There il
reason 10 believe that the effort not unsuccess-
lui, rs q man who had been employed in the count
Ing room from the time OF its first organization in
cohnuentlal capacity arrested, and upon exami-
nation before the proper authorities held under
ponus uhtil the next session OF the Grand jury OF
the district
with the exception OF the First National OF Jersey
CITY ana the National City OF Lynn the notes stolen
belonging to any one bank did not exceed $50 in
amount, and this was reached only In single
instance namely, that OF the Newark City Bank. the
other aggregates being $40 each bankthree for $40
and TWO for $50 excepted. Fresh interest has just
been given to this subject by the recent return to the
First National Bank OF New Jersey OF one OF the
stolen nifty dollar notes for redemption which was
refused on the ground that the signatures were
forged, and upon the holder sending the note
10 the comptroller OF the Currency and asking
his opinion in the matter that gentleman
replied that the loss must rest upon the
party from whom the note last came until
he can be relieved through its acceptance by the pre-
ceding HOLDER and on from hand to hand as prior
holders can be discovered. The government is clearly
case as this and the fact that no provision Of law
money appropriation exists to enable the Treasury
Department to redeem the stolen notes where they
nave fallen into the hands OF innocent holders argues
neglect OF duty the part OF the Secretary OF the
treasury. lie should therefore prepare bill pro-
Vidng Tor their redemption and submit it to Congress
when II reassembes Because the notes were stolen
the responsibility of the government Is the less
than II a similar amount OF greenbacks had been
purloined, there being nothing but the written sig
natures by which the stolen notes could be dstin-
guished from those regularly delivered, and between
these the public cannot be expected to discriminate
Moreover in any view OF the case, ii is better that
the government should lose $17, 500 than that the
national currency should be in any way dscredited.
or course the Treasury Department would require
satisfactory explanations from the holder OF each
stolen note presented to the source from whence
1t was received, and this would sufficiently guard
against guilty holders proatng by the appropriation
OF Congress.
A Boston journal Of Saturday evening rcmarks:-
The local money market is evidently tending to-
ward still further contraction and the week closes
with somewhat diminished facilities for obtaining
long discount OF commercial paper or loans on col
lateral security for fixed periods of time The rates
or interest to-day for temporary accommo dalton on
substantial pledges were five, five and half and six
per cent from INST hands but more was charged by
the middle men, as usual, particularly on weak and
miscellaneous stocks and bonds.
The Illinois Central Company will on the lst OF Oc-
tober pay its per cent construction bonds for
$1,000 each numbered from 1901 TO 1900 inclusive,
with twenty per cent added TO the principal thereof,
upon their surrender at its Office in the city Of New
York, after which day interest upon said bonds will
cease.
The gross earnings OF the aforementioned railways
in the first seven months OF the present year and
1857 were as JubjOined -