, 1873-11-21
Tho Now York Associated Banks
Consider tho Proposed Bank
Ing Reforms.
A Stormy MeetIng.--W Withdrawal Of
Representatives Of Sew
eral Banks.
The clearinghouse Committees Report
Conditionally Adopted.
NEW YORK.

TIE REGULAR MONETARY REPORT
New YoAK, Nov. 20.-Anairs we're unsettled
In financial circles this afternoon, In consequence
Of unfavorable rumorH. It WIS reported TINT
tho cush account Of Western railroad was
short, md that tho Directors were in session ;
also that stock brokerage firm was in trouble.
Sterling WAS frmer at ~ for GO days. aud 81
for sight.
Tho customs receipts vero s1a3.00D. ....
Gold opened week, declined from 100 to 1oseS,
a t m 'r aan a to ns 5SPoEs rsnsaean
wore At 10o@109M.
~ Loans s, veFs si at gold to 1-'a poriom
Tho cloaringa Woro $40, COO 600. -.....z
I" Tho Assistant Treasurer diaburBed &310, 900.
8evonty-sevon thousand pounds woro received
at tho Assay Oiice to-day. Governments wore
firm and In good tdomand. State bonds were
guiot.
wore active again to-day, and prices, made a
further advance. In few cnaea tho improve
mont ranged fromd u to per cont, but there
woro frequent 'reactions. and towards tho
close general break ,9 i1 3, prices occur.
instances. Western Union roso from 81 to
G9, and reacted to GLIB, Now York Central al-
vnnced from8899 to e911l, md Lako Shore from
BsN to 70l, With. lato donlings ut 8s and 60, re-
SBB ~ ao1 oeed and feso oosea n
.4211@42A. Tho market wound up barcly stoady
III tono. Tho aggregated aales between IL and
o'clock amounted to $4,000 shares, OF which
300 wore Western Union, 1900 Union Pacific,
ag,1oo Central, $500 Milwaukee j. St. Paul, 500
Lake Shore, 1000 Chicago, Columbus 4 Indlana
Central 700 Rock Island, and 5,4oo North
THE CLEARINGHOUSE MEETING
to-day lasted throo hours, and the discussions
wore quito warm. a motion Was made to lay
tho report OF tho Committee OF Nine on the tablo,
which was voted down-yeas, 30 nays, 8. Thon
it was moved that tho report be postponed si1ty
Vail, Of tue Bank Of Commerce, then formally
Withdrew from the meeting. He was followed
by tho representatives Of tho metropolitan,
qrocors'. and State Of New York Banks. ALL Of
the above banks woro opposed to tho reform
measures. Afterwards representatives OF tho
Fourth National, Mercantile, and Now York
Banks left tho meeting, in consequence Of huai-;
ness at their respective banking-houBes. 1hcn
each bank was called upon for IN expression Of
whole. Tho yoto stood II nays to ~ yeas, it
being understood TINT amendments might be
made.
THE ARTICLES or ASSOCIATION
but from Nos. 10 49, inclusive, wore passed over.
Article 20 WAS amonded 80 as to read as follows:
mo momber of tho Clearing House Association
shall be allowed to redeem the checks Of any
association, corporation, iirnl, or lndiYdunl ex-
copting upon regularly Incorporated banla 10
Gated IL tile cities Of New York, Brooklyn, Ior-
sey City, aud Hobdkon, which banks shall ho
subject to examination Of their condition by q
committee Of the clearinghouse Whenever
doomed necessary"
Sec. 8 of Art. "a was amended so as to read ns
follows THAT it will not receive upon deposit
as caeh from dealers clcckB drawn otherwise
than upon banks which arc mombera Of this as
socfation, or upon such regularly Incorporated
banks us heretofore provided by Art. 20.
A motion WAS mado to allow 8 per cont
INTEREST ON DEpoB1T9,
which waB voted down by q largo majority.
Art. 20 was Btr1okou out, as tho National Bank
law provides for necessary reserves. The feel
lug was very strong against
THE CERTIF1CAI1oN OF OIIEcKs
and the paying of interest on deposits. Tho
banks will meat again Tuesday next to finally
dispose Of tho report,
LE9AL-TENDEnB.
Tho associated banks hold $31 csc, 600 in legal
tonders, m increase einco yesterday Of 81, ,205,-
000