The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1870-09-29
Commercial and Financial.
Business Activity in New York.

Business Activity in New York.
From ne World qr Friday. .0..
Tho unusual activity ofthe "fall season"
in all branches Of business Is worth notice.
Certainly New York las never been fuller
than now Of strangers. Tho hotels are all
crowded; all the business streets are gorg-
ed, and the places Of entertainment are, al-
most without exception, filed nightly.
The retail dealers who are thus shown to
be replenishing their stocks have reason.
The workshops Of France and Germany,
from which our own warehouses are so
largely supplied, are, and for some time
to come must be, turning out much less
than their usual quantities of work. In
consequence, those who arc buying now
are suro of buying upon rising market,
and we may look to sec the present uctiv.
ity continue unusually long. as
Cancellation Of Paid Notes.
From 0S "; j. Journal Of Comneree. e Ia
QUESTION by A CORRESPONDENT.
Ihuvc purchased three notes from John
Jones, indorsed by John Smith, and &C.
cured by decd OF trust on real estate,
81 ,0OO each, and payable one, two and
three years after date; the first ono Is due
to-day, and John Smith (endorser) comes
to me and offers to pay the same. Have
I the right on receiving payment to stamp
tho note paid, and am l secure against i'm
position II l fail in so doingy Again
should not notes If paid on due date or
before (unless 1 make regular sale Of
tllcm) which are secured by real estate, be
stamped before they leave my possession!
Reply-If the note was paid by the
drawer 1t ought to be stamped paid, and it
is better In oil cases where no lawful OBJ
lection can be made to stamp or write
upon the Cancelled obligation the TACT that
the promise has been fulfilled. We knew
o case where o note indorsed with first.
class name solely for collection was used
by tho maker Of it rs collateral security
for two years in succession, simply by
altering the year in tho date, and finally
the said indorser was called upon to pay
the note. the drawing having failed, and
he had great difficulty in establishing the
facts, SO as to avoid the responsibility.
There remains the question whether, If
tho indorser of q note pay 1t, he can object
to the stamping Of 1t as likely to invali-
date his claim on tho drawer. We do
not think he, can if he pay 1t before pro-
test, since the holder would feel bound 10
surrender 1t as paid on o tender Of the
amount. In the case referred to above
we do not see, however, that tho holder Of
the remaining notes would be liable 10
suffer materially, even il tho note was
given up without being stamped. ~
Confidence in the Financial Situation
From ae Tribune Of Tuesday
The confidence Of all classes Of our
business men in our financial situation Is
one Of the most cheering prospects Of the
hour. With our large grcenblCk and
National currency and gold certificates
thereis no reason why the present should
not be easy and the future full Of hope in
every department Of industry. Reports
from the South all speak we'll OF the cot
ton crop Of this year, and TO this is TO DO
added a very much larger corn and wheat
crop than has been usual In the South.
The Southern people are learning that
variety Of crops are more profitable than
one, and thatthe cotton planter had better
raise his own corn, bacon, and wheat than
to buy them. Soon the people Of the
South will begin to feel the benefits Of
their new national banks, and II they do
not Immediately have more currency,
they will have safe places Of deposit for
their surplus funds, and this will tend to
make money more plenty.