, 1876-12-22

Tie dangerous reserves Of the good compa-
,rs, OF ~ be stolen by the thieves iu the
bad companies. And it now turns ont
Tat the only security the poicy-holders have Is
the Unchallensed, unexamined, uaeorrccted state
nrnts Of the compauics-1hat the system oi State
inspection in New York il Il fraud aud snare
IN the opinion Of THE TnlECSE this business has
lasted ZOO loug already, and it advises the pubic
~ refuse TO deal with any companies that present
only their own unsupported etatemen +, or worse
yet, cetiicatcs from the St.te superintendent. 1t
advises the public to Insist on publicity An in
surence company is not private business concern.
md lhe public have right to know every detail uf
its Operations. II there is any company that con-
sders itself TOO good 10 submit 10 the fullest pub
lciy ie, it bc treated good 10 be patronized
al: longer.
ALLEGED CROOKED BASKISG.
Epecsul brrespondenc= QT The Tri1Rae
DEs MONIES, Dec. l9--About two ycszs ago the
P:Es OF Cedar Falls was accepted Us a sound md
reliable commercial institution; but suddenly one
o*y, ii WAS discovered that there WAS big hole in
t.. LIT ~. sul ,.at LIE MONETARY foundation had
fallen uu! Tie President, i. G. Thonpson, and
TIE taLler shortly after left and the Institution
VAS wo.:nt up by rc:eiscf. The President WIS
,.cu-e-.4 recently IN >cohcse. y. where he had
Invested largely III real estate Tie creditors Of
lie ;:auS a:e su~lc:ou- that he took away funds
Of the bank, and he has been arrested and brought
back to answer an indictment for culbczzlement-
lie says ht can explain satisfactorily. Officer arc
after the other -cd delinquent.
BILLS OF LADlSG AS SEGoTABLE 1SSTRu-
MESTs.
The bill proposed by the New York Chamber OF
Commerce to facilitate the negotIation Of bills OF
la!lne. aud to punish fraud therein, WAS INTRO
d1eeI into the House Of Representatives on Mon
day by Ir. Hewitt, Of New York:
u a; i az raty in ae 81
d: liver sns s;ecai common carrier BY land or
ii,tI!3sr ri IN :: iajias: sa;piax iesst, .4ss
t: It sa be ated nut such rrorer,y + 'tilysraee
such instrument and 70 IN Of all SUCH
Of the la:ty mentioned thcrrn and su''sc
qutp1 .lvr:ers. and tic deliver 0: strunent;
1il::t Vi s-ss.s=ton s;..l i:nelatcy vc= tle
fs,ss. 1u''eS; "n!y II H. Lens aug e,pi1ions which
v.d that III; su> b instrument =ita.l state t!.a1
i III sa:: ax ssi is 'S s f. T. + S,
as1a= 1>tsSc ot ter 4u!t:es shall he received ~ The
as,i;s r. III Il - ~: =
!,c:ts in;n1loned aud 1royiivs that any person. wno
Win Tue svrty n'ea,ioned ~ tefeia Iai IS
10, e!tUat; lts-ru.d. sisll utc1ned gully u
nia:trs toall leaaIirs prt:c!lotd u law
;ais H. u IL ~ ptry @ dsalnS M Ia soya d
dhsr:v tier M sa.s sn u sss 'ranste1sa E r.; and
retetrcl tu the Cumnt1ce un Cu:n:erce-
THE GOLD AND WOOL PRODUCT oF AUSTRALIA.
The gold mines of Victoria, Australia, reached
their must productive point IN 1853, when they
turned out $50, 010 Ooc- The yield has declined
since steadily. III 1871 1t WIS S33, 600. 600, and
i'll 1s7j, Si5 900. oaU. AS the gold yield decreases
the wool crop grows more valuable, and in 1875
the wool product Of Australia was So 600. GOO,
1aose than four times much its gold product.
REDUCTION OF INTEREST IN cALlFoRS1A.
II has been apparent for some time past tllat the
rates of interest charged by our California banks
and CAPITALISTS were higher than were warranted
BY the general business und financial situation.
The Trustees Of the Bank Of California have, We
think, noted wisely III Gcclin5 upon reduction.
lutercs. on busiucss paper running from thirty to
ninety DAYS should not. IN the present condition
Of the money market. exceed lur rate Of s. per
IL reduce the rates oil winch they made loa:.s On
1ra c*tate there Was alos1 Immediately greatly
Increased activity i'll the erection Of cleap b1ild
lngs. And y hen tue example Of tie Eank Of Cali
f1:;iia in making business luans OH moderate terms
sh2ii be sece.3y initiated. VT nlay confidently ex
Ie>; 10 Wiiur=s Il corresponding development Of
activity in manufacturing enterprises OF every
description. -.>dA T''une7sro C:troAcie.
SAVINGS BANK NOTES.
The Pa-a Savings Baus Of New York las deter
1:.i..cd to wind W ant so crt Of business. Depos~
:;orz arc being paid u2 In full and all hut $50 600
has been paid ont The depression in business
a.d heavy loss Oh an Investment in Governments
Of The Issue Of 1861 made just before the issue Of
IL: per cents were the causes Of the surrender OF
the charter,
The Receiver OF the Abingdon Square Sarings
1;aul Of New York has discovered that the
title Of the hank to Of it.: real estate is de.
fect;ve. 4 majority Of the Trustees, he says,
were only figuseheads, sEd the others treated the
bank as il it were their own private property.
san FRANCISCO SPECIE SHIPMENTS
The total shipment OF silver coin and bars from
San Francisco for the drst eleven months Of the
year amounted to $23, 1853, 91s.a5. OF this
.uuunt, So 397, IS in bass and s1l, 1d0,-
...o1. IL iu coin.
GOLD AND GREESBACEs.
Gold was 108hGl07.. in green5acks.
Greenb2cks were 93sssGe3n cents on the dollar in
gold.
FoRE1ux EXCHANGE.
.sir.r fov. Sight.
=