Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1881-12-07
The Ainking YsNA.

Tho requirements of the sinking fund
for thc last fiscal year. including q balances
of Si09i7,l2s not prov idcd for Mp Ia tbs
close al the previous year. anonnl"h W
so. .s7G.%. There WIS applied ih"ret,
from redemption 81 bonds AMI iraruonai
currency. as shown by above statement,
"a t,O 5OI leaving n deficit Of tiS, 3Di, ,sJ.
II Is estimated that the requirements of
the fund for the present year, including
the balance from last year, will amount 0
SJgGJi. Ssi
The amount Of bonds redeemed during
the months Of July, August, September
and October bf the present year u In ekc"ss
of the requirements Of the Sinking Fund
for the entire year by S,lTdHJ.
Surplus revenues. however, which may
hereafter accrue during the year, will be
applied to the purchase or redemption of
the public debt, n contemplated IN section
twenty of the act approved March j, l55Is
twenty first statute, page 49,,
Compared Wish ID. Psesisus Year,
the receipts for 1881 increased 81. 1851, sol
IN the following items: In customs revs'
nue., 81 631. OIL in internal revenue, ILL.,
2jO.OI in sales of public lands. u 1879:
in tax on circulation and deposits Of Ma.
,;or.,, Parks a. i0i ,iu: In proceeds OF
sales Of Indian lands, ,objr r92I; IN depos,
llN Ici HuIFtrlHE
lands. $32O, ,5ss: In fees on letters patent,
So, iI9; in profit on ooin-gc. ST6,s ,s,s: in
revenues OF District Of Columbia. t219, ~,
and in misce llaneous items, gsbb. .5II.
There was q decrease 81 Ssg g2IJ. NJ fol-
lows: In repayment of interest 10y Pacific
railway companies. ts,Ss1.33, In interest
and premium on Indian Trust Fund stocks,
.'T3l5.t.j: in register and receiyers' fees.
sIj,..6s, and ip unenumerated items.
$iIi.g2. inaking n net increase IN the re-
c.ipts from a.. sources Of 81 ,2jjGsI.
The expenditures show decrease from
the previous year Of S,tfD.D,O,
The TressspsP Reeea0esls
that the oct concerning di.bursing oficcrs'
checks be 80 amended that payment may
besnsde aud checks drawn under rcguis-
tioms prescribed by ia. Secretary ~ the
Treasury. The report 0f the Comptroller
Of currency H. referred to- n containing full
information in reference " the ahairs of
national hanks. and after quoa ing certain
portions of II. Judge Folger continues.
The corporate existence Of
Thpe~ HandreA sd Sisety4sis Bssks
will expire pr-yions 10 February 18th. 1888.
The Comptroller recommend that an sct
be ps--ed authorizing any national hank, ~
any time within two year. prior tO
the expiration Of iis corporate er.
fstsnce. Ia extend Its period of
succession by amending its articles Of
association by tbs votes of shareholders
owning two-thirds Of the capital Of the a.
sO,istion. IL such a.sOsiation upon exam.
instion ol It's affairs shall be found IN be In
satisfactory condition. The Law provides
that the Comptroller ,bsli issue hi. certih
cate authorizing any banking assotSation O
commence business. ~ IL shall conform IN
all respects i1 The legal !, requirements.
Ba,ks may, therefore, under tiIe prsseni
law ir's
CSpsisse Thsts Rsiss<see,
and in the absence Of proiih.ory leesis-
iatiou. many then undoubtedly will. o.
the sxpirstion Of their eospSrsis existenoe.
organize new associations and obtain fro0
the Comptroller authority 10 Goa
tin1e business. The ps~ss~ how
ever, Of the set. directIy sotbodziaC
the extension Of the corporats eristsaes,
Dor and avoid the distsiboloa u ths
present large surplus fund among share
boidsn. which would result from . uqui.
dation.
Relative 70 The ressrve for the
Re1e0DSSOo - Cnb1e1 n10ess uOooU
the policy pusyued BY tisis department -
been % retain - Q reserve fos redemptise
United States n0tes. shout - per cent q
the notes eutstsDdtnk snd In sdditics
thereto. 10 have suficient money In tbs
TreaxuIy to meet sll other demsnd oeiies-
tons outstanding. This policy has beee
adhered " Is ficdly a pr,cti-
% per cent, nor been above IS per cent q
the outstanding debts. The silver cerak-
cstes are payable only IN silver coin sn4
rold received foe ttese csstlficstes is nov
sysiiabls for rssumptioa purposss. Ihsfe
u now I'm the Treasury, n essh, shout ~
0o0. 600 fractional silver coin, having only .
limited legal tender ervaIre and not available
FOR resumption purposes 1be rcmssnder
/ lesmtbpued On jssvsb psSe.l