, 1870-03-05
BULLION VERSUS PAPER.
Wall Street Rcpudlntes tho legal
Tender Orinlons

From The Hf,c York sua, Ha5eAa.
Yesterday being the ntsi day OF the month, and
ne ne NJ, aeEeai interest d9y since SO pro aulsA-
Court on the legal tender question, much interest
wns manifested throughout the community 10
learn tue duposltion Of lhe g7eat nAsnclA ,nsisu-
tons IN regard ttefeto- T1b various LIE Iusur-
aIce Compautes. Ttust Companies, Savings Bauka,
end other efuliAr companies, holding N lioos o.
theit action % the receipt IT lntereB< WAS LOOKED
for 10 establish precedents and nH custom under
the new snd authorized expos'uon Of Tie Nv;
insurance compsnIes "utlpW tna al a,te1poan anS xS
Vas coort<ouRly received oy tie several Pre.I-
dents, = ho uoaestatnR15 ans vered his toIerroxa-
to,iss and thus enabled HIN 10 asats Tho Ais1auon
lutnal ~ F<rr Tcrt-F1e.erlcs L. Winston,
President. AUount Invested In bonds and mort.
gtRe4 upwa ares Of tls o19. .eoo. 1n,erest payable
semi-apuually. partially In Mafch AID September:
more II June AID pecar bes. Tne company ye4-
terday received all Interest due and teadefed IN
Rrsenoacts. Tho question OF eIacttuK gold ua8
been sobnlttea 10 tne lrga advisers Of The corpo-
fatior, Eho bare nos yet repor;ed- Unit! thek
Stin,oa u tscs,sd I, Eli g5esnhaek. WI continue %
determine ahether to exact eoid or not.
H<1s Ie7t L'tt-MoEr,a FranLllr, President.
70 5e1k ne Guy;
mortgages Of which It holds less than 5000, ,0Ol
1t yesterday received all interest money rendered
rEelent.
Manhattan-Henry Stokes, preaident, about
Sl,o&0 600 in bords ard q o1tgs1t4- Receiver All
will continue 10 DO 50 un,a called upon to pay
pol'ctes 10 gold. II holders Of policies demand
gold, 1ben ne comnany must exact gold. WI do
Wd,hingfon-cyius cust,ss, President. has bQta
smafl anount IN boads AID mortgages, and re-
celves all Interest in Rreethacka. D3es not con-
sloeF the QUESTION Eetted the opinion Of the So
preme conFs NAV les be Teyeraed. Tue question
il one that orfgtnAted with aud was created By
or nstlonal trouble, and The coa.eqaence saou'a
cent Citizen ~ thf5 opiriou cauees 1t to he
iStto York Ls5s Isxuranee and 1tust Compan,t-
navo D. Thompso9, Pss.lds1t, mas ltss than g o,',.
M as !. cones Up: have Adopted 20 rule. Rep:y
ge!1e but 1ul sake currency II lnatssed anon.
number Of other companies we're yisited, but
The ebore EsT te accepted - q raupe Of Ill the
replies received As = Gener1l rule, no attention
wns paid 10 the opinion Of the Supre ne Court,
aod inteIeaI money Tss received IN currency, Al
he e sa ST n rsseens f..; 1naa
oil Information. ThfEa was much less intere1t
Que Jesterday shan there will be On the Isl OF
JuIe, snd Il VS. difcnls to d certain what ru!e
the United States Trust ConpanJ which Is tie
heAsast u. ntutton Of the lind In tue city having
capital OF 81 -oo, coo, received tho reporter yer1
rollaelt. hut declined 01rtnG any Information for
publication, as TO what thar we're dong. or what
they r,tpoted TO CO IN the futnre. he remarked
@ t9at ne e. VOID 9i4e ne Information person
cali, but did 1ot wsh "a have cir lns{,Iutou and
ils eu1meaa paraded In the newapape1J. The "a.
no decsicp has been arrived as rpRsr1iur tns Al,
tei; bit tnst meeting Of the Directors has Been
esnsa G. ~ 70 70 Sonsdsl + II tns neaaumo they. in
ms1ur'ug interest ln currency. but Do not care 10
advertise the fact, lest 1t might euoarTs4s thetr
ltat HRntS hereafter The re1desa or the sun
w ~ tneae P!eaae eonhdcE Eh1s Information
The savings pants we're all dong burness res.
ce,sluR ali interest duo in currency. aud navvtn1
tneis own obligations IN the astne REPRESENTATIVE
The reporter called UPON many Of tne reeo,,r
banks and bankers IN Wan atEee: ana III Yic,ni:Y
ii guest Cf lnIcrmanues On tnis tntercatnT 1nh.
tect. Thele seemed 70 be no uuuzaN ezci.sment
IN rtgt1d 10 II Although II rA the clEs ,ntprtsr.
paJ'pG day slhce the dtcl1inn. Dn1iaess men, as
general thi1gt had ruE conffdeseo tie matter
tn S,s sffs eese to Let Ins. sde along
cetsed action fheuld be'rad On the spbiecs Tse
Bank OF Antrtca, the neavteat Of The old S.ate
teress coupons from It's customers Atd cnrre,nf,nd
enta On q G1e entxck b2lts, unless The COUPONS
MeIe e1r1setn H. ps!aos 10 Rol Waen lnstuce
ter, they Declined receiving them. Tney also r..
ce1ved al pts7ea; due Themselves or tnett core.
spondtnts OF c1stone1 IN currency, and rhA was
the aeter1l rule throoghous the city.
Foreign holders Of lAmer,can securities, how.
sser, cenaEded go:t ou al! Obligations covered ny
ne recent decision. Ia most cases this wAs re-
II
thus leAFiEg the matter In AbeJAace. Oecayton-
ally lie currency WIS sec<tFed 1bler protest.
Agents generally had not been Instructed IN tue
n.Atter. ard the psyrR agent was ~ anxious to
ectfs himself a. the recelrtn1 agent 70 secure
nA principal against loss. And thus many claims
renamed inserted At tne ciose Of bnAness,
thous perfectly fr:eIdlJ re'a::ons existed oe.
tween the parties, aud 70 ones solsency was
a1eeted thereby. II would be tuposslh1e III MAZE
Any lntelnfens estimate Of the amount OF auca
deferred clalmss p1t they Rul Aggregate pretty
iafas SAN. and give rise, donhaeAk, to = large
AnoHg the private bankers and financial a2eut4
business Na4 EeEJ qntet currency being gwen aud
received for interest ant principal on al contracts
f!lheT Old or nsE. And no questio1s asked Mestrs
y: = 1etsup Co, oH Plne s1eef, who represent
lalEt railroad Interests rs vet a. several heavy
estates, Nate recets1oR and. pAy!1g currency Al
usual, atd understood raAt H1ch courDe had been
tactlE agreed 10 all ayound 1t ea8t for the pres-
ent MI. JeeSup considered that the 1trpet VII
SuFerned more ~ custom than the lbw IN suca |
matters, md that ut til new custom was e4tAo-
lihned the deetston would not anect the strcet to
au5 extent As 10 soretgu c1edtor1 he ws1 aware
they we're demanding pftIctpsl and interest op ali
contrects u kod; but thetr demands did nos
uate cuetom. There Wnuld undauh;edlY BE- ID
e<rthargcs OF v!exG on The fubifct aad rome ID
nlit rule adcpted &oon. Bat until ghlS time greea.
eacks vcr3d colst1ne 10 be 1ne currency Of the
street