New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-07-14
WASHINGTON.
RAPID REDEMPTION OF NATIONAL BANK NOTES.
WASHINGTON, Monday, July IS, 1874.

RAPID REDEMPTION OF NATIONAL BANK NOTES.
WASHINGTON, Monday, July 10, 1874.
If any doubt remained as to the feature OF the new
finance bill, requiring National Banks to redeem
their circulation in greeDbacks through the Redemp-
ton Bureau of the United States Treasury the prac
teal workings of the bill would remove it. The
demption of National Bank notes is going on SO
rapidly that the whole available force of the Bureau
is required to attend to it, The receipts of National
Bank notes for redemption amount to nearly 100000
per day. The regulation of the Treasury Depart
ment that National Bank notes may be sent forward
by any individual or bank for redemption without
cost and all expenses DO paid by the Department,
and charged to the bank that issues the notes greatly
stimulates the movement to forward them for re-
demptiOn. There is also an impression that many OF
the interior banks not in situation to redeem
their notes promptly, their loans. unlike those
of the city banks not being on call. and therefore
not being in an Immediately available shape. This
leads many holders of them to embrace the oppor,
tunity Of exchanging them free of cost for legal
tenders Should any bank be unable TO redeem redeem,
States bonds deposited with the Controller OF the
Currency and thus retire its circulation. The net
result of this general movement for the conversion
of National bank notes into legal tenders Is Tor tho
time being, at least, to produce considerable con-
traction.
THE GOVERNMENT AND TIE NEw-YORK CEN
TRIAL TAX CASE.
The Attorney General was informed day or two
ago that the suit of the NewYork Central and Hud-
son River Railroad Company against John VI.
Bailey, late Collector of Internal Revenue, for
S59iOO2 withheld taxes on certificates of the rail-
road. had been decided in favor of the Company.
The fact will be recalled that the Revenue Bureau
insisted upon the payment of these taxes. and that
the Company refusing, orders were issued to seize
the property of the Company. At this point the
Company paid the amount demanded, and at once
began suit for its recovery. The suit has now been
settled and Judgment rendered against the Gov
eminent. Mr. Conkling appeared as counsel for the
railroad and against the government whose servant
he is Judge Williams to-day directed the District
Attorney TO out writ Of error. IN order that the
case may be reviewed by tue Supreme Court Of the
United States.
APPOINTMENT OF COMMISSIONERS UNDER THE
GENEVA AWARD ACT.
The Secretary of State has officially communicated
to the Attorney General notice of the appointment
of Messrs. Wells of Michigan, Porter of Pennsylva-
MIA, Baldwin of Iowa, Raynor of Moth Carolina,
and Ryerson of New-Jersey, as the Commission
der the Geneva Award act. passed just before the
close of the late session of Congress- to adjust the
claims of the actual. undsputed losers by the de-
vastations of the Alabama and other Rebel cruisers
The Secretary has also given notice that the Com
mission will assemble here July %, and the At
ey-General has set aside in the building OF the
Department of Justice courtroom and consulta-
ton ROOM and other apartments for their use 1t IS
expected that the Commission will at once organize,
appoint secretary and clerks and proceed to dis
charge their duties. IL is said that the papers IN
most of the cases embraced by the act are already In
shape for action.
PROMOTIONS IN THE PATENT OFFICE.
Mr.. R. G. Dyenforth of Illinois has been promoted
from first assistant to principal examiner in the
Patent Office. The following have been promoted
from second to first assistant examiners:
W. III. Babcock, District Of Columbia; r. B. Catlin OF
New-Hampshre, J. H. Durnall OF Colorado, and H. C.
Townsend Of the District OF Columbia From third to
second assistant examiners: s. W. Stocking, New
York l.. NJ Z. Cooke and W. A. Bartlett, District OF
Columbia ana H. l.. Packard. Maine. From the clert-
cal third assistant examiners: d. &. ReDoh
Pennsylyan!a; A. ID. Brock District Of Columbia; J. W.
Mcdonald. District OF Coum0a; and Miss Sarah j.
Moves OF Virginia The latter IN the second lady
polluted the examining corps OF the Patent Once. All
the above appointments were made under the CiSil
Service rules.
THE PLACING OF THE NEW BONDS.
The indications are that the Secretary OF tho
Treasury will succeed in placing very considerable
amount of the new bonds under bis late circular.
Formal bids accompanied with the required guaran-
tee are not expected before the first a next week.
| A number Of heavy bids are expected.