New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-11-16
TIE GOLD EXCHANGE BANK.

FINAL SETTLEMENT OF ITS DIFFICULTIES.
The Gold Exchange met in Executive Session
at p yesterday, to take action the proposition Of
the Gold Exchange Bank relative to resumption Of the
Gold clearing business. The proposition OF the Bank
TO clearing with its reduced capital (about
100000 ON terms TO be dictated by the Board When
Il was received than two weeks ago It referred
20 the Directors OF the Clearing House. After tho
reading OF the minutes of the last meeting and the in
PRODUCTION OF a report, which had been omitted. Mr..
HOyt, from the Executive Committee offered pream.
BILE and resolution setting forth that the Board would
give It's hearty counienance and most emphatic support
AL IFS officers and members who were threatened
with legal proceedings because OF their adherence to the
Constitution. The resolution was adopted. DIR. r. L.
Edwards read the report OF the Committee on tho Clear
ingouse. recommending that In consideration OF the
conduct Of the Bank in so promptly settling it's aairs
well its general course throughout the period which
had been trying to ALL 1t be again adopted as place
OF clearing ON the acceptance OF the following rules ana
regulatOns
Orders and for clearing shall be similar those hereto
AZ t,te,p clearing ,ba presented Bank Clearing
Department At or befure ~ p m
ih statements are bsued u currency checks II
gold by coin certified checks eeriiscare. OfdeFost
be posted the bank and In tie Gold EIbsuss announcing
Gates .taieraeU sOd belonging shall be Immediately
s. None ta, member, sud assoa. members the YsvYOi Gold
Eebang shall be hS'd the privilege Of ihe clearing department r
The charge for clearing shall be at the rate OF 81 for each SVO
An dealers who hav. entered amounts due rom them
sia,emep will held Responsible for the sane sud must immediately
s NE is r6 s bess da 5 no, At Tie
back dset shall be considered TO bsve failed for
as o1.e ppos, aud shall Oe '''Pe1ded ron tie privileges oil
g. Ia case tie dealer fail. to present. statement by 2:oO m.
with tho dus the Bars hoe Of s25 shall be imposed
AID every bis statement the der shall be fned
10 The Hank shall par balance, dealers 10 checks tho
M,tpa Nstous BanL PAYABLE 10 the order
no the Bank 40, payment Of baaces due dealers until
The report signed by the Committee and approved
by the Directors OF the Gold Exchange Bank Mr.. Col
hat he be
momber aud that the subject be postponed Tor ten days
lie could not the use OF retstabshng the Clearing
House ~ stem. Now that there Clearing House,
he heard Of no difficulties IN transctng business and he
believed IN letting wen enough alone. Half dozen
banks were ready and willing TO certify the checks OF
members when necessary, but none OF them would ao-
crpt certified check cmanating from The Gold Exchange
Rank BESIDES he had lately been told by member ~
Congress that ina the Gold Board renewed It's former
relations with the bank Congress would every effort
10 do away with the GUld Board, even going so far
perhaps rs 10 levy tax OF of one per cent upon each
greeted with derisve laughter. Mr. Van schnit sup
ported Mr Coaue's motion, which was voted upon ad
lost hy vote 81 50 20 c. The report was then brought
up for consideration. aud the rules were read S1di1,
being voted on IN turn Tho only material amendment
Vas In Rule 3 which made 10 read: None but full
inenibcr," Sc, tho saving clause ut tho erd beug
stricken out A letter then read from Mr.. jacob
proposed satisfactory 10 the Directors aud that
they would Do ready to resume clearing morn,
done the Bank wonid R make III run ea0
was subsequently, embodied in request aud the report
viii probably bc presented today Mr.. kcper OF the
Arbitration COMMITTEE ueslrtu thdt tno
a communication lately received from VIM Heath * Co.,
I'm which that firm refuse positively 70 submit their d1i'
cues with w. +. LyermOre Go. to arbitration. pre-
crrng rather 10 trust 10 the courts ilvormOto Co
claim that they bought ~ 10000 In gold for Heath Co
on the memorable day Of the panic at prices ranging
from $50 10 iCc but this allegation Is denied by Heath
Co The communication was referred back 70 the ArD'
| tr,tlou Committee. aud the Board adjourned
The sUBTREAsURY.
1t was expected that the new Assistant Treasurer OK
Judge Foccr would yesterday assume the duties OF his
Office but he did not make his appearance Deputy AS
sI.taut Treasurer White received telegram from Gen.
who ia az Utica announcing the death or his
father This viii probably defer the installation Oh
| Mr. Folger for "A few days.