The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1877-05-25
LWngs and ree1h.

New York Mercantile Journal, May II.
In some personal correspondence
in behalf of the American Bankers
Association, which has crept into
the papers, we notice that Mr.. Buell.,
the secretary, makes the following
significant claim:
''This association is young and unknown
to public men. 1t is not yet six months
old, but we will assure them that 1t is q
lusty infant, and has been from the start,
and growing finely. Its developments as
full set OF teeth-even its eye teeth are cut.
If any doubt 1t, let them put their fingers
in its mouth; as for muscle it 10 able to
go 1t alone and take care OF itself. 1t can
give blows as well as take them. But its
most remarkable feature is its lungs. II
any one wants to hear 1t roar, let him stick
pin In it, and the echoes will come back
from nearly every town in the land-the
remOtest as well as the nearest. We have
the evidence to show this fact in our pos
session. We wish DIR. Darwin could see
our phenomenon. 1t is a new develop
ment, and he might possibly call it the
connecting link"
The putative parents and the god
fathers of the "lusty infant" are to
be congratulated upon its remark
able improvement since last Febru-
airy, when Mr.. Hayes, a banker from
Detroit, informed the committee o f
ways and means, that
"Forty-nine national banks, represent
ing q capital Of $40, 276, 10000, had failed ;
that two hundred and one, with q capital
Of 81, S43, $40, had gone into voluntary
liquidation; that Of those now doing bus
mess very many are debating about going
out Of business, or very largely reducing
their capital; that the propositions now
pending for 3 reduction Of capital IN the
city Of New York alone amounted to SI2,-
GOO, equal to about twelve per cent. of
their capital; and he predicted that ''this
example OF New York would be folloWe
by other large cities, then spread to the
country, so that when the long ed for
revival in business occurs the banking
facilities in capital will be seriously
crippled"
Mr.. Coe. president of the Ameri-
can Exchang Bank, of New York
city, graphically depicted the suffer
ing of the banks thus:
GAS to the dividends of the banks in
the city of New York, one half of them
have not for the last two years earned
their dividends, and for the last year, not
| One-third of them. They the stock hol-
dersl appeal to us with agony and tears
Give US q dividend, draw it from your
! reserves, the reserves were made for div
L
'We must do it, and we have done it,
say that our institutions did not earn the
dividends which they have declared, but
have paid them out Of their reserves, be-
| cause they could not help responding &C
| the agonies OF the stockholders and the
| necessities of the case. / tell you that or
every hand the fabric is falling into decay
The whole thing is going to destruction
But Mr.. Buell., secretary an6
president of the Importers anG
Traders National Bank, of this city
now assures us that the infant an
der his care is showing an astonish
ing development; has q remarkably
fall set of teeth, and is especially
gifted with lungs. Teeth and lung
are good things, as they enable tn
possessor to eat and cry. That thu
babe possessed remarkable devOur
ing capacity no one has doubted
who has noted its enormous re
Iquirements, as shown by official re
ports of the Immense quantities o
food which it demands and as t,
crying, in the dark hours so pathet
ically described by Mr.. Cee, it show
ed great powers OF vocal demon
strAtion.