New-York tribune., 1874-09-23
FINANCIAL INTERESTS.
METHOD OF DESTROYING MUrI1ArED NATIONAL
BANK MOTIFS,

BANK NQriS. -
The National banks of this city having had
the desire that the Controller OF the Currency should
return 20 them mutated uot,5 OF the Issue OF ean
bank that had been SURRENDERED 10 the Conuopers
Oalce at Washington by the Treasurer OF the United
states and the Redemption agent In order that tney
might examine the before they we're destroyedior
reissue they have informed that the following Is
the process adopted before destruction:
On receipt at the Treasurers Office the notes ore first
carefully counted examined by expert counters for
the detection Of spurious and stolen notes. and
assorted by denOminatiOns; they are then delivered
from time 10 time in packages OF thousands OF
notes to the assortinRro1ms, where they are twice
counted into ~ groups OF about 50 banks each, alpha
betically arranged, aud next among the individual
banks composing each group. The assorters, on count
ing nIght required to that each package
contains only the notes Of hank- The money then
goes to provers" who carefully count and exam
ne each package 10 that the amount Ia correct and
that notes misplaced errors discerned are
~ rectned. After proof. the money ia made up
fOr delivery 20 the Controllers office, and especial care
is taken to that each strap marked with the organ
1zation number OF the bank whose notes it contains
The then delivered TO the Controllers Office
where the following IL the process:
/. All packages received from the Treasurer Of the
United States and redemption agent must have the
amount marked in plain figures each PACKAGE, and
be thoroughly cancelled before delivery by having
circular esneeling chseL
Each package is required to be made UP of notes of
the issue Of one bank.
o. Upon receipt each package undergoes the careful
and rgd scrutiny Of experts representing the Con
trollers Office, who verify the amount denominations,
total and proper ISSUE
4 Each package is then counted and verified TO
denominations total and proper issue. by expert
representing the Secretary Of the Treasury.
The fnal count and examination is then made by
agent representing the bank OF issue after which
The package and packages checked of by the head
OF the redemption division, and then put into the
furnace in the presence OF tour Witnesses viz rep
resenting the Treasurers ofhcr, the Secretarys
Office. the Controllers office, ana the bank Of
issue and burned ashes according to "a Of the
Currency act certificates 70 this effect. giving de-
nominations In detail being signed by each witness and
forwarded to the bank Of issue.
These the officials at Washington think would TO
be all the safeguards that could possibly be adopted,
and the Transmission OF the money to the individual
banks. for the purpose of having it 90 through
examination by another of the bank agents, would
in their opinion scarcely add to the safety security of
the while 1t would double the labor OF the
redemption division OF the Controllers office and add
greatly he already heavy responsibility OF its officers
a1he Treasurer OF the United Sas also states that the
third Of the Of June 1874 required him to
forward all NaOral bank notes redeemed by
him, and which worn. mqtilaed. deiaced or rem
dered otherwise unfit for use 70 The Controller Of the
currency for destruotnn and consequently no dsere
hon lett with him as TO the disposition that was
be made OF he notes All neeOfu precautions against
mistakes always taken. and further verihcatOn
OF the nv the bank required 10 protect il
trOm OF other than Its being charged
20 II.
BUoYANcY IN wALL-sT.
Buoyancy feature OF the stock market yester
day. Prices seemed to have taken determined start,
and there was a general advance of from to 81 per
cent throughout Much to the general surprise
Harlem was the stock which advanced the most. This
sock has long remained sluggish and unnteresting but
yesterday from 125i 49, 1t reported that
the cause OF the advance prospective dividend on
che street railroad branch Of the line No special SEN
satons distracted attention from the stock market the
principal topic being the prospective rival TO the Paclnc
Mail Steamship Company.
Benson b. Smith. The agent Of the Penn Fire Insur
anee Company OF Philadelphia IN this city, has gone 10
Philadelphia to confer with the officers OF the Company
respecting ITS troubles with the New-YorK Insurance
Department. Impairment OF capital was the cause OF
the withdrawal OF the Penn Company, as well as the
National Company.
Company held yesterday. The following were
elected directors: Marshall Laferts, William orion
H. b. Cornell George j. Prescott. James h Banker
George H. Mumford NOryin Green Tracy K Edson
Henry PlersOn.