New-York tribune., 1874-05-05

Loans and Dis s2s157i30 Legal Tenders s3' ooo
specie ............ 2iGs96oo Deposits go ''O"
Cir 'ulation... .s1o'oo''ofo'
The Transactions at the Clearing house for the past
week compare AS follows with those of the previous
week:
Cearrgs for the week ending April 25. sS27 s57 s %
Clenrlnga for the week ending May -. 8ltYlll w
Ralances for the week ending Apnl 2..... 2g6tsJ o.
Balances for the week ending May 2... 22'Eoloo Vi
Mfr. Rufus Hatch. the yce-President and Manag-
ING Director OF the Pacific Mail Steamship Company
has issued circular addressed to the stockho'ae'
of the concern, in which he makes some statements
that will be of interest to shareholders Mr. fiatch
states that The Company have now in commission
SO steamers, Of which six new iron steamships
and all paid for. To he added to this fleet are the
CITY of Pekng. now receiving her outfit. on which
Ss52 900 has been paid and the City Of Toxic. To 10
launched on the 18th inst, on which s1".Oo mas
been paid. The Company during the year 1913
carried 94OO tons freight from New-iork TO san
Francisco and this year So far they have carried
9.2f3 tons, with like gratifying increase Ia tho
passenger business. The reduction m expenses. Mr.
Hatch tells u.s. has been from 30 to 81 cent largely
in the item of coal As showing tho economy
of iron ships, the circular states that
the average cost of round tip during ths
mast two years by wooden ships from
New-York to Aspinwall was S27 iOO and by the iron
ships $4,000 The Company hope 10 increase their
trade by diycrting business from the sucz Canal.
and state that the China the first steamer OF tho
line which left China with freight for NewYork. via
Panama brought 80 tons of tea, OF which 3'SS
nackages were originally intended To he sent VIA
Suez Canal From April - to April q 1--we steamers
arrived at San Francisco and New-lork win 2,'oi
nassenoers and 1901 tons of freight. which. ac-
cordipg To the circular. the Company will realize
inward of S20O,0O0 from freight alone. WIN tho
present equipment the Company Is prepared 10
carry from New-York 1900 tons OF freight per
week. with a like amount from San Francisco ana
Central America beside 1900 tons per annum from
China and Japan The six new iron steamers nave
been insured for 320OOOOO, which Is All improvements
upon the former management In conclusion Mr..
Hatch states that the cash assets of the Company ON
bond and TO be realized within GO days show an ex-
o of over the entire liabilities after pay
inc in full for the eight new iron steamers. In
other words, the property Of the Company belongs
o,trelv 70 its shareholders This is certainly
hotter showing than it has been generally supposed
could truthfully be made concerning the a1aifs oi
the Pacific Mail Steamship Company.
The policy of dispensing with the Nauon" p"""
rcseryes-n favor of which 1t is unders"'" '" 'iio
financial majority in tho House OF hepres'n'''N""
have decided on passing resolution carry this Weoh
20 ,,ornlv defended in the following petition from
the leading bankers and capitalists of Cleveland.
which has been sioN'io.
and Parsons for presentation in their respective
Houses 1t is understood that the clause looking to-
ward the requirement. that the National banks shah
maintain reserve from their coin interest until they
are ready TO resume specie payments, was added at
the special instgaton OF Amasa Stone Jr, the most
nrominent banker of that entire region ana tha
manager of the Lake Shore Railroad IL Is under
stood that Mr. Stone and several other leading
conita alists IN Cleveland would be willing To 90 still
frtber insisting not merely that such proportion OK
,be coin interest as Congress may direct shall be
kent "a a reserve with Wow Of returning to specie
but that all the coin interest should DC 10
held: r.,,,s
IN N, Sep1,, aud House Of Represertdres of me o'o"
Sidies. ia COagreSs assembled ,... -, ,hs f,ly
The uudersi gned bankers ana business men y.
OF Cleveland pectfully represent h't = per-
- ,le long deferred action OF Congress on H.,
taipiug To huance ana the uncertsno E H sen,rtments
scton viii ultimately be. business IN 1s,cy az disi,nsf
no. ian ,nsbed and feeling of desponucS0,,s u $500
a. taken possession OF 'ho P'opic.
Snr can We hope for relief from ths ~ @ % % % 49,
Congress shall permanently se.r, t and sturi,
ore,t ouestinn III money" now occupy "s ""' u'''
| iug the pubic mind -. a s,lntion 4, the eoanc,sl
nJJ,e W. ,e IL ,he reserves" held 10y NatOnai banhs
| P,a unlocked 10 would give the required tene''
| ,nv tucreasc of the currency o. the coun.
| WIsi"nr Inv additional liability on the part oi
W. gycrntnent, Aud why not The clrculhl Jh os
n,nk, Is well secured by "a deposit WAN inc
IInited staios treasurer, OF uoNethien o,uus % % as
O,in generally, OF from ~ q % per cent, nov Oh
s on 90 81 per cent, which msrgin would DC ample TO
-, for deposs, lf such reserve were heouui NV
,ye .uggest that these individual ana hah uoplsn
snu, matcrs u BUSINESS b0tNoeu tho pu@s su '"o'A