New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-26
The DAVIS business al the L. S. Sub-Treasury was

The DAYS business at the L. S. Sub-Treasury was :
God receipt, ~ sG2257s 80 Currency receipts s52s III 30
God 7Si 0i5 Gs CansRey balance. 5,oOl574 As
The London news reported consols and American
securities lower. The Bank Of England advanced
its rate 10 A per cent, losing for the week E3'6OOO
and for the day G72,OOO. The Cimbria arrived to-
day with $1,000. 1t is reported that G9OoVV
sterling coin have been shipped here from London
There was little doing in money at the rate OF one
per cent per day. Greenbacks commanded pre-
MUM Of 81 per cent over certified checks The Clear
ing-house Committee issued 100000 loan certif-
Gates to-day making total of $l7OOOOU,
The following communication was this morning
presented to the Governing Committee Of the Stock
Board 1t states with Characteristic terseness ideas
that have been thoroughly elaborated in the mlnd
Of the writer who is no less person than Mr. David
Groesbeck, whose experiences and successes in the
stock business make him an authority that VIII be
universally recognized;
To ". g. CHAPMAN, esq, Chairman OF me GorernR9
COMMITTEE, stock Exchange -
DEAR SIR: Allow me, an old fogY OF now some 40
Year, standing In Walst, make some suggestions IN
the present emergency which, II elaborated and worked
up by your Committee, would IN my OPioIOh, ,
business. and infinitely decrease the risk
They The establishment OF stock Clearing
That the Clearinghouse could be used 20 advantage
needs argumeDt the working OF the GOid EXCHANGE
Clearing noue proves this eyOnd any question: aud tue
Banking Department becomes an immediate necessity
from the present state OF our banks and both clearing
house aud bank should INTO operation simultaneously
with the opening Of the stock Exchange.
Az the work OF organization, however would require
come time, arrangement might possiolv be mace az
once with the Gold Exchange Bank aud Cleai1ngnons
20 act for the stock Exchange until such time as the
new organization could be got INTO shape. $500,
The OF the banking department. should be owned
exclusively by members OF the stoch Ekehabee Trans
ferabc only on their ceasng 10 be members ana every
stock The bank should allow ats dealers interest at
tnne under the market rate upon thef dly pSIaneos
10 be settled monthly aud no deposits should be TO
oeiyed ftOm moneys loaned TO- any one not nemoGr
Iu Trading "f0T the account" settlements should DO
per cent as the London stock Exchange II am cor
fectly Informed THIS would do away forever, with all
nes 10 say nothing decreasing the risk would II
preclude parties IRON operating upon the old plan II
Tue Whole nac6inery Of the Clearng house Bank and
the settlements for the accounts should DO n the han DIS
II ths plan or something like it, be adopted it would
IN my opuIOn 90 TO gave tone 10 the Stock Ex-
sLange than nything that has taen place during my
X presented my seat at Stock Exchange 10 ono
OF my clerks some two years soce, am Obliged 10 sign
myself RETIRED MEhBIsQ.
Ees- York. Sept 25 1878.
The National Currency Bank advertises that it
will receive deposit specie, currency. and bank
checks the throe kinds Of circulating medium DOW
In use, and In like.
Holders Of July coupons of the Central Pacific,
Western Pacific, aud California and Oregon Railroad
bonds who have omitted to collect their interest,
can have them oased by calling at the offce Of the
Company No Nassau-st.
The Controller announces that the books for taxes
on personal estate will be opened for payment on
Saturday next 18th inst, at the Receivers ONCE.
The balances in the Treasury at the close oil busl'
to-day are: Currency, less the amount pafd fo1
bonds purchased in New-York and not reported
sl47o44l9 special deposit of legal tenders for re-
demphon OF certificates of deposit. SSS 15OOO CON-
$S475i 0l5 including coin certificates, $3o.SG7'4OO
outstanding legal tenders, S3560O0yOO0.
1ke Philadelphia stock market ~ unsettled
Pennsylvania sixes. lb philadelphia and Enc