New-York tribune., 1873-12-12

After tle close OF operations III 'has
there was q further increase yesterday OF tho
draft OH the Sf4,0OO,000 reserve, to the ex-
tent of s55s.OOO, thus bringing the whole
amount of imitation thus far up to Sl6O0O0.
A dispatch from Washington was sent over the
brokers wires to the effect that member Of the
Cabinet had expressed the opinion that the si4oo-
900 reserve would be exhausted, and that taxa
ton would have to be increased In order TO enable
the Government TO meet its accruing obligations
This tended to increase the general belief that in
dation would remain the order OF the day IN
Washng gtOn. The daily statement OF the balances
at the Treasury Department at Washington re-
ceved last evening after the close OF the Stock Ex
change shows: Currency balance, S9J0,00O Coin.
S8j 10000; Certificates. S3l,5OOOOO; Legal-tenders
OUTSTANDING S372 $4,000. Increase over Wednesday,
sjJ6OOO This daily statement is received every
| afternoon from Washington. TRIBUNE reporter
was told at the United States SubTreasury that no
information on the subject of the Treasury balances
was sent there but that dispatches received from
Washington were undoubtedly sent with official
sanction, and might be received with confidence.
Daily statements are longer issued by the As
sociated banks, but Mr.. Camp. the Manager of tho
Clearing g-house. said that the banks had certainly
lost none of the currency last reported and the rapid
redemption of their loan certificates indicated
gain. These have been reduced to less than
S6OO0OOO S2O0OO00 having been redeemed within
two days and S2OOOO,OOO within six weeks They
were getting down to "hard pan" fast. Money ID
abundant and easy at per cent, and the banks ac-
commodate their customers freely. The value Of
loanable money in Wall-st. becomes perceptibly
greater every day and the current rates Of interest
daily grow easier il not lower that it really be-
gins to look rs if call loans i'll January might not
bring than three or four per cent. The news
Enpau6 continues Of the most reasSIIrin0
kind. The bank rate was reduced yesterday to Al
per ceut while the rate in the open market only
4 per cent. The Bank of England gained for the
week in b.lhon f61S 900.
Gen. HillhOuse, the Assistant United States
Treasurer, told TRIBUNE reporter that he had
received no instructions from the Department
in respect to the redemption of the 1874
bonds falling due on Jan. l, and supposed
that Mr.. Dawess bill had special reference to them.
The law under which they were issued gave tho
Secretary of the Treasury the naked right To redeem
them in coin, but conferred no right to exchange
new bonds for them He thought Congress would
probably arrange for their exchange. though no law
could prevent the holders from receiving payment
in gold if they demanded it.
wALL-sT. INCIDENTS
The Lake Shore directors have authorized sec
ond mortgage on their road for S25,OOOOOO, which is
now being registered in the counties through which
the road passes, about thirty in number. The Com
pany will issue only about Si,j0O,OeO at present, for
the purpose of taking up the floating debt. The
rest will be used FOR taking up the S6OO0O00 de-
benture bonds for completing the double track, and
making other Improvements When the entire
amount is issued the debt of the road will stand:
Capital stock, S5O,OOO,OOO; consolidated bonds.
S25OO0GO0; second mortgage bonds, 2j,0OO.0O0.
total, $l00OOO0O0.
Cornwall 4 Company, cotton brokers' whose sus-
pension announced the 9th inst, have settled
with their creditors, and have applied for restora-
tiOn of their privileges members Of the Cotton
Exchange. notice has been posted in the Ex-
change. requesting any members having any claims
against the applicants to present the same to tho
Supervisory Committee prior to Dec. Is, when tho
application will be acted upon.
Augustus w. King, banker and broker, Of No. 81
Pine-st has not resumed business. nor has the ex-
pert who is examining his accounts arrived at any
definite conclusions rs to his sovency. A group OF
creditors, representing $1,000 $1,000 in small
amounts were in and around the office yesterday
waiting for information in reference to their claims.
They complained that Mr. King seemed to know
very little about his affairs and appeared bewildered
by the defalcation Of his cashier Some surprise
was expressed that the loss of $1,000 should be
sufficient to cause banker and brokerto close his
doors for three DAYS.
SIR. KEEP As A RAILROAD MANAGER.
A prominent broker vouches for the accuracy Of
the information in the following extract from .
private letter from Western railroad official:
Mr. Keep. the President OF the Chicago aud North.
Western Railroad, old PRESIDENT OF Chicago, aud
considered frstclass nancer in railroad matters.
his election President he has been Prominent In
the OF his office. In consequence Of this cutting
down all sides, and his economizng in every branch
OF road the earnings per mile greater than
before We out here think tho stock very low. Under
the present Presidents control next Spring they cer
tany will aud pay the dividend both classes
OF stock"