Rapides gazette. (Alexandria, La.) 1869-187?, 1873-12-27
The Clearing House and the
Banks.


The Republican stated on Saturday
morning that
All the banks in the city are in line and
fully competent to resume payment, ex-
cept O. g, which. II is stated, is indebted to-
the Clearing House some 1922 900. with
nothing to meet it with. and that the
Clearing House has decided to carry tho
bank through to prevent it's absolute
bankruptcy. committee ofthe Clearing
: Honse has been appointed to report On.
Monday OH the propriety Of rsnming. and
it is thought by those best Informed that
resumption viii not be delayed beyond
next week.
On Sunday morning Messss. Schneider,
Jonas an.l Irwin, trustees of the Clearing
fiuuse, published card in reference to
| this article, i'm which they state that
Every Clearing House ccrtificate ssncsl
10 any debtor bank Is fully secured by ur-
doubted collaterals, valued at thirty-t hree
and one-third per cent in excess OF sucil
certificates, and that said article is entirely
untrue.
The Republican Is pleased that the re-
sponsible gentlemen of the Clearing Honso
| have been induced to come TO the front
Now If they win 60 further. aud publish >
statement Of the condition Of all the banks
in the Clearing House Assertion a. they
stood at the hour Of clearing on Saturday
morning, they will be doing what the pub
f, lie ask, aud have O right to demand,
Either these banks are in danger OF crum-
bling into bankruptcy upon assumptions
or else they are hoarding up the peoples
money for improper purposes. winch
is i'll
New York is afflicted with financial
/" Star Chamber" very much US we are, and
tn Herald Of the eleventh makes this de-
mand upon it:
The banks are said tn be still increasing
In their gain Of legal tenders. 1t would y
emipently satisfactory 70 the public III
daily statement of the condition OF these
institutions were made known, and - soon
as there Is complete recuperston-e
condition of affairs which will enable SON.
future Committee of Nine TO declase
that the Clearing House Assccistion = nes
carrying az dead weight one hftn OF ~
tidnciarv institutions of the city-we truse
the policy will be adopted and perpetussea:
The business men of the country wou'e
like to know the status of their tnanei9
representatives.
We hold that the public have ri9nt 2
know these things, and newspaper y ~ 81
true to its readers thst neglects TO furnta
the facts when it is in it's power 70 Qse
them. We know the gentlemen Of ~
Clearing House do not take this view q -
otherwise they wonld not have kept $500
| the condition of the New Orleans Dsnung
Association 40 many days previous - -
failure, after they had exhausted - -
available collateral.
Tn. trustees Of the Clearing House ~
, nounce article of Saturday false.
, this, time will tell, and the pubic snaL
. the judge. We gave IS the reaso1
the banks did not resume that cne " 49,
> was weak and was indie bted 70 the Cie2
House in the sum 1T SS9z 600. win 49,
ing to meet IL WITH Perhaps these 49,
: not the words that should have been
: To convey our meaning. Perhaps tno 49,
! has furnished c0llateral--and It y y
: we'll understood what that collaseraf
: sists of-but we assert that at the une
Al article was written and printed the -
n were correct aud this fact We are 49,
: cd to prove by one of the very meo "A
4 siQtled the card denouncing our extso
II " entirely fals~ :" for it was from p.
= lipe the statement came. We ssee!5
4 tbermore that ut the hour OF clearnk
/. eleven o'clock, yesterday mornin
amount had been decreased oniy ~
leaving the amount of the banks
edness to the Clearing House stu
4 We assert, furthermore, that, sIfne. y.
the three banks which these gentiemeens q
at the head Of, are shown and peno
, be fully capable of resuming any ass,tkS ~
> have been 80 for nearly month
have made publicly the same exo.s
themselves thar We have made for - ~. q
8 that they were aiting for other 49,
. get in line with them (; and becanso es-n
other banks could not resume, tney
J. not. ~ 81