, 1881-03-06
FINANCE AND TRADE.
The International Bank Before
the Chicago Clearing
House.
Slight Tendency to Lower Prices in
Stocks, Followed by g Rise.
Shorts Forced to CoYcr-1loucy Hard on
Time, Easy Oh Call.
The Produce Markets Generally Lower, with
More Doing in Wheat-Provisions.
The Movement Of Produce Continues tcry Small rs
Consequence Of the Storm.


/ A meeting df the Chicago Clearing House
| Committee consisting of Mr. George Schneider,
| President Of the National Eank OF Illinois aud
! Plrsdcut OF the clearinghouse; Mr.. l.. J..
| Guxc Cashier of the First National Bank, Mr.
| John De kove11, Cashier of tho Merchants Ma
ttonal Bunk; Mr.. John j. r. Odeli. Cashier or
! the Union National Bank; Mr. Orson smith,
Cashier Of the Corn Exchange Bank. md 3ir.
| james u. Stl,rgcs, Cashier Of the Northwestern
| National Bank, was held yesterday morning tQ
hear tho report Of the Subcommittee. consists
| Ing of Acssrs. Smith aud 0dell, appointed Friday
to examine into tho delay of the Inter-
! national Bank in paying its balances at
the Clearing House Oh Thursday. On re-
cciy,ay the report. tho Clearing-fi House
Committee adjourned till half-p:st
!; O click to give the officers of tho bank au op-
portu.lity to bc present during Its consideration
and make such explanations us were needed. AT
this meeting Il statement Of the condition Of tho
bank was made which showed that its liabilities
consisted Of $s.5,0tD capital. surplus, nnd net
earnings to date. and deposits to the amount OF
$2GNJ,Gp. OF this amount about Sti0,G30 be-
longs to country banks. and S3a3000 70 the City
of Chicago, through City Treasurer Setpp-
There are Sl52 GU due time certificates Of de-
posits. Against these liabilities are assets as
follows: In bills OF exchange, S4S4,no3; cnllcc-
tions $5s,001; balances due, Sl7Uo0; cusu, Stso.-
ooD; and bills receivable, $l,aW,0oo. The
bunk holds tho title to $j3bN worth Of
real estate, and has Ss.so0010 OF past due renl-
cssnte paper secured by REM estate to which It
expects to Eet the title. THIS exhibit OF 1ssets
was accompanied by explanations which de-
ciIed the Committee to regard the bank as SOL
vent, and as not l,oeding the discipline Of the
Clearing House Committee, which has power to
suspend, or Of tho Clearing House itself, WHICH
has power to eNpel. President Loeweuthal
prorered tho security OF Mcssrs. Resenfcl,
Rosenberg, aszd Il. i. Eohn for tho payment OF
the daily Clearing House balances. which tho
Committee accepted Us satisfactory. Tho bauk
will receive 0,00 in gold Tomorrow from
New York, which Is now on tho why,
and has q large amount Of foreign exchange
which is IN available cash asset. Among
It's stockholders are T.. Wnmpo!d, Michael
Brand, Messrs- Roscnfcld and Rosenberg, AMI
H. 4. Koh7. and other large capitalists. The
Directory alone. Mr.. Loewcnthal claims. repre-
seuts about S1o.C00,0o3. Ender the banks char
ter tho stockholders have Il double liability
that Is. In case Of suspension OF payments, each
would be liable for the amount OF his stock, and
as much more. On the statement made by the
officers, the Clearing House Committee voted to
take no further action.
There vas in stocks slight tendency at tho
opening to lower prices, but this QuicSly dlsap-
peared and under tho manipulation Of power
ful cllques, easy money, and the announcement
that the Secretary OF the Treasury had decided
TO allow banks that had deposited legal tenders
for the retirement OF circulation to take them
buck n:,aisa, the market advanced Golfers were
very strong, and the Granger stocks seemed re-
yiyifed by the storms th:,t have swept over
their territory. 1t was reported that
Vanderbilt ana his friends were entirely
out Of Michigan Central and Western
Cnioa. Toward tho close of business the cheap
stocks had run upward. Tho rise in North
western and St. Paul was not expected by tho
bears. That there were shor. sellers Is probably
the onl, reason these Stocks advanced. The
Northwestern has had. since Dec 20, 1000
miles OF road 1t has been unable to operate; the
St Paul has been at least as bndly Off. There Is
good authority for tho statement that on Friday
the Northwestern operated hut E,5 miles of its
immense mileage. 70 these facts rle bulls re-
ply thnt much of the mileage WAS built for the
land grant, and is more profitable closed than
open, and thnt the immense earning OF The [
spring will moro than make good all present |
losses.
The Graphic reports that d relative OF Mr. |
Vanderbilt says that the Michigan Centrnl divi-
dend in Muy will NOT, probably. exceed II per |
cent, owing to tho bad winter weather. but tho |
next quarterly payment In August will undoubt- |
cdly be per cent.
The extremes of prices arc shown by tho fol-
lowing table: