, 1872-12-25
M ONEY AND COMMERCE,


TUESDAY EVENING Dec. "a.
In the local market, far as the banks are
concerned, money continues very tight. The
heavy demands Of the pork packers have taken
about all the money the banks care to lot out
just at present, in view Of the possibility of .
statement being called for. But in the open
narl7et there are pretty free offers Of money
at 10 per cent per annum for GO days, On first
class stock collaterals. Since the close Of last
week, the receipts of hogs hare fallen off large
1y, and probably will continue to do so until after
the holidays, so that the demands OF packers
on the banks for money are likely to fall of
also. After the holidays, the interest and divi-
dend disbursements in the Eastern cities will
probably ease those markets, and @the effect
be reflected to some extent here. On the whole.
it seems probable that the worst pinch for money
this winter is over, though the stringency may
not disappear entirely until the latter part Of
January.
New York exchange is in large supply, and sold
between banEs to-day at Soc to 75c per 81 600
discount.
PUBLISHING LETS OF STOCKHOLDERS.
Some remarks made in this column few days
ago about National Banks making public, in some
manner, the list of their stockholders and tile
amounts Of stock held by each, have caused a
remarked on q former occasion, tho clause Of
the National Bank act which provides
that National Banks ehal keep, for the
inspection OF all creditors Of the bank, q book in
which is list OF the stockholders With the
amount OF stock owned by each, is to great ex-
tent imperative. 4 creditor or depositor Who
feels enough doubt about the condition Of a bank
to begin to think who are the stockholders on
"hcm he should have to fall back in case Of the
1sllnre Of the bank prefers to take the short cut
t5 certainty by drawing out his money and put
ting it in some other bank, without exercising
t,is privilege Of inquiring. who are the stock
holders. is seldom that either the public
or the creditors Of the bank ever know
cnC:hing about wlo ere the stock
s1ossers until bank fails, and they find then las
i, the recent case of the Scandinavian National
Bank) that the stock is held in foreign
countries where the owners are not a1nenable to
Ehe Gouble-Heblitv clause OF the law, or else, as
sometimes happens, that nearly the whole Of
tl:c stock is held BY few Individuals whose
whole capital is invested in the stock, and that,
iu TIE case of failure Of the bank, the stock
additional as required by the National Bank
act. A good many of our bankers who think
that the publication OF q list of their stoclzhold-
ers would be Of benefit to them, would be glad
National Banks others to whom such & custom
would be unfavorable for obvious 1easons are
opposed to it. For the benefit Of those who
might be inclined to regard such custom as an
in the case OF the old State Bank of Iowa, which
vas obliged By law to keep list of it's stock
holders, with the amount of stock held by each,
hung up outside the counter, where every person
who entered the bank could see it before he
depositing his money in IT, It is
often Claimed BY the enemies Of
the National Banking system that it affords no
more security to depoEitors than any Of the old
State Bank systeus. This is not true. Tho Ma
tional Bank law not only makes stockholders in
-dividually liable to depositors for double the
amount Of their stock, but the Treasury at WASH
ington holds margin Of about Is per cent over
2ad aboTe the circulation Of the banks, of which
20 per cent would go to pay depositors in case Of
the failure OF the bank. But in the matter Of
stockholders on whom the depositors might
eventually fall bsck the instance Of the State
BANK OF Iowa shows that some of the old State
Banks we're at least required to give more public
information on the subject than the National
Banks do now.