Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1873-09-25

more is supplied to savings banks than
their needs require. Holders of small
amounts are requested to deal through
their bankers, and lessen the labor of the
sub-treasury.
1:45 p. NAT a meeting of bank
presidents, to-day, it was resolved, in adj
dition to the issuing of so, 600, 900 loan
certificates and the suspension of cur
rency payments in large amounts to
stand by each other with all the assets,
and any member falling to do SO will be
expelled. Each member was appointed
committee to ascertain where the ten
million government bonds or any part
thereof can be purchased. Said bonds
are to be purchased on account of each
bank and sold to the treasury, and the
loss occurring thereby to be sustained by
| banks according to their deposits in the
| clearing house, The committee request
the President and the Secretary of the
Treasury to anticipate the payment of
bonds due January, 1874
2 p. Nall quiet about the savings
banks throughout the city. No suspcn-
sions of payment have occurred to-day.
| Depositors seem to be more confident.
2:10 p. m.-The following are the
latest cash prices on the street for stocks;
New York Central, IS to 81 Harlem,
1913 to 1916; Erie so to So; Lake Shore,
SO to 70; Wabash, 48 to As; North
Western, 40 to 40; Milwaukee and ST.
Paul, 30 to 50; Ohio and Wisconsin, 81
to 90; Union Pacific, 20 to 81.
2:25 p. Nudge Fancher this after
noon, on application of counsel, modi-
fed an injunction against the Union
Trust company so as to permit it to is
sue, register and countersign certificates
of stock, ETC., for parties with whom
terms were agreed upon forsuch services
prior to Sept. Goth. Judge Fancher also
granted an order permitting the receiver
of the Union Trust company, Z. D. Yves
ley, to transfer to the Albany City bank
$50, 900 in the hands of the Trust com
pany, a special deposit. The moneys of
the Albany City bank are not subject to
ordinary rules as to deposits.
$50 p. m.-The sub treasurer has pur-
chased up to this hour, 50, 1000 bonds.
3 p. m.-The total purchase Of bonds
at the treasury TO this hour is 80, 200,
600.
| SUSPENDED.
Brown and Watson, gold brokers,
have suspended.
UNTRUE.
President Cartwright, of the Canada
Southern railroad company, denies the
rumor that he has been obliged to can
eel all contracts for the present owing
to the financial crisis. He says the road
was entirely finished, and the story
could not, therefore, be true.
UNION TRUST COMPANY DEFALCATIoNs.
1t is asserted, on the authority of one
of the examining committee of the
Union Trust company, that Cartoons
defalcaton will be much less than it was
at first supposed to be. Up to noon yes
terday the defalcation discovered aggre-
| gregated but seventy-fiye thousand dol
lars. Many Of the securities on which
he loaned the funds of the company, are
believed to be of a better character than
first supposed.
a FREE BANKING SCHEME.
A Washington dispatch says the comp
troller of the currency examined a plan
for free banking scheme yesterday,
and has submitted it to the President.
He states the plan has much merit. 1t
| provides for the relaxation of present
| rigid requirements relative to bank re-
| serves, and for the extension of the ex-
isting limit of note circulation. Appli-
cations are constantly made by the ma
/ tional banks for additional circulation.
/ The comptroller is not authorized to
issue any additional circulation under
the existing laws. Further legislation is
necessary for that purpose.
GENERoUs CARLETON.
Carleton is in consultation with his
friends and making arrangements to
| turn over to the Union Trust company
all that he has. He is in a friends house
in New jersey, and could be arrested at
any time. \ large black trunk belong
ing to him has been discovered in the
vault Of the Trust company building,
containing a considerable amount of Sc
curitieS 'on which he had loaned the
funds of the company.
EX-sEcRETAIY M'cUILoCH's SURPRISE
Ex-Secretary of the treasury McCul-
loch stated in interviews last night that
he could hardly believe his senses when,
on arrival here from Europe, he was
told what had taken place. Before leav-
ing he never for moment dreamed that
with the country so prosperous anything
of the kind could happen. There were
good crops and goods prices for them,
and the country generally was in good
condition. Financial panics were al
ways senseless. When that of 1S57,toOk
place, ii was found that there was actu-
ally no reason for it-sO it would proba-
bly, be in this instance. Everything de-
pended upon the maintenance of conf
dence. The great trouble was that in
times like the present men became
frightened and held on to all the ayaila-
BILE funds they possessed.
AUGUSTUS sCHBLL SPEAKS AGAIN.
Augustus SchelI pronounces false the
statement that the seventeen hundred
thousand dollar loan made by the Lake
Shore company from the Union Trust
was to make a dividend. 1t was to pay
for laying the second track.
ACTION OF THE CLEARING HOUSE.
The executive committee of the clear.