New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-12-02

curity or as collateral security, for any loan OF
money or for consideration shall areeIto withhold
the same from use, shall offer or receive the custod
or promise OF custody Of such notes az security or ~
collateral security or consideration, for anyiioan OF
On The 9Th OF April last the Controller advised that
bank In the City OF New-York With capital OF
house aid not exceed 800 0OO was that morning creditor
IT the Clearing house for A77000 AS IL was eydehb
business the examiner was directed 20 mako
nation OF the bank, which was lfnmediatey dOhe' ia
tee From the examination, which thoroughly AMI
carefully conducted, II appeared that deposits had been
made in that bank, by one individual upon The morning
OF Aprl 10 the amount OF s0o0o the whole 81 when
drawn out upon the same day, upon the checks o
bank denied that the bank had any interest in these tram
actions and there evidence Of any loan. or Of adj
In any shape upon these deposits. These tfass
acons were the subject subsequenty Of an nycstlgi
ton by the Bank Committee Of the House Of Reprcsen
law had been violated, evidence could be obtained Ia
the commencement Of suit for the recovery OF
vesigation undoubtedly had the effect b. prevent tho
repetition OF similar transactions; no ohenses OF this
brought TO the attention Of the Controller.
The New-YOrk Clearing house Association subse-
quently passed resolution declaring that TIE Clearing
house Committee be and is hereby directed whenever
appears, in its Judgment that legatender notes have
bank members OF the association, 10 make an inIned
ate examination Of the bank in question, and should
ts oeeisls 10 suspend said bank fron the Clearing
house until action OF the association shall be taken there
DO ses has however, since been accomplished without
the assistance OF the banks. The rigid enforcement OF
pcty on the part OF banks in such sactOns and
the New-York stock Board and the leading banking
transact business with INSCRIPTIONS men, VINO DO NOT
hesitate to embarrass legitimate business for the pm
increasing diminishing the values Oi stocks Of
bonds in which they are temporarily Interested, they
do more to prevent such operations tnan any Con
gress enactment
ISsoLvENT BANKS.
Twenty-One national banks, organized IN
II different States with aggregate capital OF SA6lto
have failed since the organization Of the system IN 1863
The total circulation OF these banks s2ei23. ~
which s2,lf 9o has been redeemed in full leaving ba-
ance still outstanding OF s5ose which will also be re-
deemed upon presentation to the Treasurer Of the
United States from the ayais Of United states bonds
held as security for that purpose. OF these banks i've
have been finally closed two during the past Carl A"Y-
ing paid dividends to their creditors
Six national banks have failed during the past year.
OF these, the Union SQUARE Natonazbank, Ncw-forN;
the Fourth National Bank Philadelphia, ana the
waverley National Bank, Sew-York have PAID Their
creditors in fula settlement 1t is believed without
precedent prior 20 the establishment OF the national
system The Eighth National Bank, New-forE has tald
dividend Of 50 per cent; the Ocean National bahh,
of the ocean National Bank, and OF the Frst National
Bank OF Fort Smith, Ark, estimate that the creditors OF
100 cents on the dollar.
The Yenango National Bank OF Franklin, Pom; the
Merchants National Bank of Washington. ID. c. the
First National Bank Of selma Ala. and tue First
National Bank OF New-oresns, were United states
repositories The final dividend IA favor OF the creditors
OF the First National Bank OF. Nioksburg has been
unexpectedly DELAYED by the recent presentation al
claim OF the Unlted States for money alegod
to have been illegally deposited by the Collector 81
Internal Revenue OF that district, In the year 1903 since
that time no losses have occurred 20 the Governments S
deposits made in the national banks, although many
banks which are designated depOsltorie The theo
frstnamed banks, at the time or their fallufe b@d q
large amount Of Government funds on deposit
SURPLUS AND -sPECIE-EXTENDING TIE LIMIT
. OF SURPLUS.
The law requires that every national bank
shall carry one-tenth part Of its profits 10 surnsfand
account before the declaration OF dividend until to
sane shall amount 30 per cent OF its capital stock
This wise provision has been generally observed and
the returns show that the banks have surplus %
more than SO00eo0o0, aud considerably more than one.
fifth Of their capital in surplus account The act a'
limits the liabilities Of any association, person, con-
pany or corporation for money borrowed, to ouoenh
of the capital stock paid IN. The Controller rccon-
mends that this limit be extended to onetcnth ~ tho
capital and surplus, which will have tendency to ~
crease the surplus fund beyond the mint required ~
the law. .-.-..... *. .... ....-t,.-
The following table will exhibit the aggregate amount
OF specie held by the national banks AZ tue oates nf
toned the coin, coin certificates, and checks payays "a
coin held by the national banks Of the CITY OF AeNfk
being stated separately The cOuntri hlnAs nave not
heretofore separated coin cons eeihc"e' IA 1Lsf
'P -B,H b5 YraoaahBty ia Ser- Yyrk Cig.--