, 1873-04-29
MONEY AMI CONN ERCE.
MONETARY.

- MONDAY EVENING, April g.
Tho week opens with an active demand for
money in the local market, but the banks are
meeting the great bulk Of the applications for
money, and the supply in the street is good vet
An easier condition is now generally expected,
within week or 40 ut furthest, as the result OF
the opening Of navigation; IN fact, some OF the
banks already feel disposed to be q little more
liberal in loans. New York exchange was in
better supply to-day, aud in anticipation OF
larger amounts coming upon the market soon,
prices were weak at 50c per 81 900 premium. .,
THE RESPONSIBILITY OF DIRECTORS.
The complete collapse Of the Atlantic National
Bank, Of New York, like that Of the 6candina~
vian National Bank, OF this city, is not only
disgrace to the whole National Banking system,
but throws cloud OF distrnst over the reports
Of all the banks. The latest published reports
Of both banks, before the collapse, made them
appear in as sound condition as any bank IN
Developments have ahown that, in the case Of the
Atlantic, it had been completely gutted years be-
fore, and IN the OF the Scandinavian, that it
never VAS on sound basis: How Tainter's en-
confesses, without discovery by any
Bank Examiner, Director, or emp1oye
OF the bank, il inexplichble. Aside from the
6tlauEo D11uAu6Aa u tQ6 T8Qk Examiner, the
verdict Of public opinion should throw the re-
eponsibilty for the entire rottenegs Of the At
1antic National Bank upon it's Directors, who
have violated their oaths and betrayed their
trusts. In Sec. 8 of the National Currency act,
every Director OF every National Bank is requir-
ed q to take an oath that he will, SO far as the
duty devolves on him, diligently and honestly
sdminiBte1 the affairs OF such association, and
viii not willingly permit to be violated any Of
the provisions OF this act" In the amendment
70 the act approved March 8, 1863, it is required
Of the bank, as Hhown in its re-
ports to the Comptroller, shall be attested
BY the signatures Of at least three of the Direc-
tors and again, In another amendment ap-
proved April &, 1869, It is provided that "eyery
person Who shall aid or abet" embezzlement Of
fraud by any officer OF the bank shall be liable
to fine and imprisonment for hot less than five
years Now, it is high time that Directors of
National banks were made to unde1stand that
thing more than mere rerbiage. There is no
stronger evidence OF the low standard Of intec-
uty IN the business community than the fact that
men with respectable names may lend
them to be used in lists OF Directors
OF banks. INSURANCE companies, and other similar
inshtutlons, to become mems of defraudnR
the public, and yet escape the penalties OF their
1nisdemeanors and be respectable still.
CALIFORNIA EXPORTS OF WHEAT.
The Importance OF the California wheat crop OF
1879, IN connection with our total annual exports
OF wheat, may DO gathered from the following |
facts, given BY the San Francisco Bulletin, Of the
exports from that city during the first half Of |
April, and the aggregate exports for the 81 |
months from July !, 1872, to April II, 1878. the |
total Of values and quantities being. compared |
with the same periods Of previouo years: