The New York Herald Newspaper, January 4, 1848, Page 2

Amonut paid out of the the fear ending 30th Balance of revenue in the Tréasury, on the 20.h September, 1847,.... ‘The reveaus ofithisfund is estimated for the current enr 8 follows: ‘nterest on bonds for lands,. . do 09 bonds for loans, do ondoen of 1792,. do on loan of 1508 do on loan of 1540,... do on State atook,. op money {a the Rents of lands leased,. . Aopreciation from the income of the 8. Deposite Fund,... .. Estimated expenses for the sam. wiz LITERA’ Common school dividens Sept, 1807 . ariee area a 4 Rattnoan Company Siwxixa Fon. onsists of the tollowing items, via : MiaLemcntr hf al he Sherercd bene af he Bate for fhe deat seven years State stock, 6 percent, ...... $900 00 ovember do 6 per cont, .... 500 00 sina’ Jemees” Necgaper Morse sree eee es SIREOT 16 pagoda’: Caw | bed cent, . 00} - . 90'Banks, a5'Beske tBenig esBonks ———— per oent, abranch's Money in the Treas toe eee ital, .. . a $34 551460 $32,991,280 $32,59).460 = ata, “aid Stree ie “tae ie bars ere aT oe ; 000 $11,696 89 | Henal Raw 24 we 8 Hvpson ano Beaxsurme Raimoap Company Sixxing 560 00 UND 1 500 OF This fand consists of the following items, vis : b12 90 | Statestcok. 6 per cent,..... sega 160 00 7.021 00 do 6 percent. .......+. oe 33 300 00 | Comptroller's bond, 6 per cent, . 4,539,489 250 00 do 6 percent, , * “November Fras | 81 Hanks & 80 Banke’ 122, janks " $ nadae Leas, balance due the Treasury, for advances 2 branch's 2 ecrile re San 165,000 00 | t0 pay the interesc on State stock loaned to eae a9 epee said company, ..... 6.665 seeeeees ¥ a 287.088 60 ‘ Lactate, $10.994 65 a period, Loxa Istana Rattnoan Comrany Sinaia Fun, 836 + $275,000 00 | _ This fund consists of tue following items, viz : 186 UND. Sia This fand conrists of the following items, vig: State stock Certifioate No. 3 937, loan under the act of 1dch May. 1816, redeema- ble Certificate No 1,418, the ect to provi, at July, 1564,6 per cont... $100,000 loan under for paying the debt of the State, ko., re- deemable 1st July, 1849, 7 cent, . Certificate N act to 9. 1.441, Joan wai provide for paying per th the debt of the State. kc., redeema- bie lat July, 1849. 7 per cent Certitioate No. 1 283, loan under the act to provide for paying the debt of the State. Kc , redeema- die Ist July, 1843, 7 per oen! Certificate No. 69, Black River @ joan, redeemable in 1850, 5 © 296, Astor steck,6 Tusurance Stock. » 37,000 anal per 8748 8,000 a) 18,443 00 100 sharegin the Albany Insurance Company ,at $60 each,..... Bank’ 8xook, 800 shares of the Merchants’ B New York, at $50 each, 98 shares of the Canal Baal 20 emon,.... jank, Money in the Treasury,..... 6... 1617, at.. 6,000 00 43,460 00 2403 78 $265,305 78 To this fund also belongs about 9,600 acres of land, va- Jued per Surveyor-General’s report, for Balance in the ‘Preasury, on the 30:b Sept, 1846. Amount received $16,064 64 eury, during the year ending the 80. h Septemser, 184 Amount recived tor tion trom the income of the BS Dep. Fund... seveee 17,835 68 27,000 00 manere, G Amount pald out of the Treasury, during the year ending 80th Sept., 1847....... Balance of revenue in the Treas 30. Apropriation from the income o ep. Fund... Estimated expenses for the same $4,300 00 60,400 29 42,195 60 ury, on the $ 18.204 69 r the current, $13,706 00 4,000 00 $17,706 00 f the U. 8. period, vis :— Dividends to soademies.......... $40,000 00 Do do for books, globe: Paratus, KO... . eee eee eee «+ 8,700 00 Books for the severai State prisons. 300 00 UNITED STATES DEPO! ‘epita $44,000 00 eITE FUND. This fand consists of the following izems, vis :— Loans on mortgage im the several counties. $3,494,935 25 State stock......... Money in the Treasury... Revenue. 1,100 60 + 518,485 36 $4,014,690 71 Balance in the Treasury on the 80th Sept, 1846........... Amount received into the + $5,647 60 sury, during the year ending Sth’ Sept, 1847..0.. 0.06 62 370 7 Amount of payments out of the Treasury, during the same pe- riod. ... ols ore.e.ue 5 0 60 08908,058 08 Amount transferred to the capi- talof the fuod for diminution ja the loans uuder foreclosure of mort; ge, by the commission- ers of the several counties, and failure of title of mortgaged premise: 5,638 Balance due the Treasury, 30th Sept , 1847. The revenue of this fund is estimated for the current ear as follows :— interest on the amount loaned o1 in the several counties. ... Interest on money 1n the T) interest on State stock Sales of lands. . School Fund... *For common schoo! “For distribution among the "Geneva College n mortgage 6 —— $267,919 65 $1,878 33 $215,000 00 $249,175 00 Estimated expenses for the same period, vis :— Amount to be added to the capital of the Geneva College, medical department. . “Hamilton Coueg “ia Albay Medical College. « Genuses Weel-yan Seminary. . University of Sutfal .... ye lotirmary, New York Normal School. ... * District School Jouraai, Sundry lodian schools,. Salary of the secretary aiversity,. Door keeper of the Regents of the University,. . uction of colored ebildren,......... 6, For diwiaution in the loans under foreclosure For ii of mortgaze,. . . Balance due the Treasury, 80th Sept., 1847, of ‘the Regents of the $ BANK FUND, Amount of stock irsued om account of this fund per chap. 114 Laws of 1845, i,.. ... $928,467 87 Balance due on Comptroller's bonds bel: jong- jog to this fand, the payment of which bas been assumed by Union college, $13,036 16 Stock issued on account of this fund belonging to the fund,.. Money in the Treasury,...... Debt of the fund, 30th Sept, 1847,.. sTaTEMER 12.800 00 40 763 00 $25,000 00 165 000 00 27,000 00 3,000 00 0 00 3000 00 1,000 00 1,500 60 1,000 00 « 8.000 00 ++ 1,873 33 260,373 33 $66 304 16 t 667,163 71 Of receip's and payments un aecount of the Bank Fund, from the commencement (0 the 80th Sept.,1847, viz: Total amount of contributions by the banks..... Amount received for revenue added to the capital,..... Amount of stock issued on ac- count of the fund for re- dempiion of bile wad pay- ment of debte of suadry in- solvent bauks,. . Amoont paid for redemption of bills wud debts of sundry panke, (seeetstem nt below) $2 Amount allowed the Look- port Bank per chap. 124 of WS4L, oe eee eee esses cess Diecouvt on State stock sold $8 1848. 0s ose n decease Amount of interest paid on stock issued on account of the fund... 6... seseere Amount invested in Comp- trolier’s bonds... ........ Stock issued on account of the fund belonging to the fund, Money in the Treasur¢,. .... + + «$1,768,947 76 41,669 78 923,467 87 ee | $77,096 67 8,000 00 14,668 77 87,286 61 18,036 16 12,600 00 40 768 00 ——-—_— 99, Staremenr Of the amount due the Bank Fund from sundry insolvent nk the fund Hanks Kedemptions Bauk of Buffalo... .. $455,362 00 City Bank of Buffalo. “278 645 29 Com. Bauk of Buffsio. 186 496 00 Com bank of Nr ork. 139 621 00 Wayne County Bank. 113.136 00 Com. Bk. of swe; 6 869 00 Beak of eyo 52.43) 00 Watere! ot Buok 127,131 6 Clistow County Bani 74,618 00 da Feyeue Ba Ne ¥. 8 00 $1,567,551 55 $1,010,375 12 749,086 41 749.085 41 Sor repemption of bili and payment of debts by | | Debts Total ind 241 22 $584,003 22 24s 276,65 29 424.514 87 LL 010 67 146,129 23285. 990 23 16.077 70 129,213 70 783161 © 241220 63 39,803 US = 92.238 U8 7" 13 196,257 9 247 875 49 $2,977,926 Maniver’s Furn This fund consists of the Society, (without iuterest,). , Money in’ tbe Treasury, . , Money in the Treasury, wad This fand consists of the following items, yi State stock 6 per cent, . State stook, 6 per cent, . . Comptroller's bond, 6 per cent, do © per cent, Money in the Treasury, . . * On neconnt of these ite 181 Frieng $117,199 58 | Avsuan anv Rocurstex Raitnoan Company Sinaia | following items, vi: Morigege of the Amerioun Seamen's : rs $10,000 00% 13.626 08 93 696 60 $4347 00 4.000 00 8147 00 10,852 69 6,643 71 0 approntistions have been made for the y and the estimats made a en Ming Usgt Une eaune suins Wil be allowed wmieh were paid io 187 ‘Ths, ho ever, would exceed Lie incomebor 164 tamaced, nearly G1) 600 ates } Comptroller's bond, 6 per cent, do 6 percent, Money in the Treasury, .. $9621 12 Troes Coax Inox Misia ano Manuractunina Comra- ny SiNxINo FUND ‘This fund consists of tne following items, viz : State stock, 6 per cent, . 9700 00 Comptroller's: bond, 6 per cent, . + 287 82 Money inthe Treasury, . eee 64 29 $1,042 11 Ispian Axnuitics, The following statement shows the amount of annui- ties payable anoually to suadry Indian tribes, and the amouat of principal said annuities would gl t6 per cent. Tribes. Annuities. Principal. The Cayugas, $2 300 00 $38 333 40 The Onondagss, 2,430 00 40,500 00 The Senecas, 500 00 8.833 35 The St. Regis, . 2,131 69 35 528 12 i : 2 $7,961 69 $1aa,g04 97 ‘ Usitep States Derosire Fun, Amount of net revenue in each 1887 ‘ - 2 628,770 04 Amount transferred from rev capital in eaeh year, for prem! by the commissioners, losses sales of premis-s and failure of title, vi 1841 for 1889 a: d 1840... . .$63.020 72 1842“ 1841... 16 861 29 843 1942s Sle 84018 O1 1844 18430000. 1845 “ 1844. . 20 031 08 1846 “ 1845, 1847 “ 1846. 5.638 00 “ 1847 (not yet paid) 7,769 00 Amount received into the Treasury in exch ef lands and bonds for 3,397 25 $113,530 23 Add amount of bond: en for sales of lands and tr ferred to the capital of the school TUNG... cece eee cee cee es S0915 8 $154,454 51 United States Deposite Fund, $4,014,620 71, was received into the Treasury in 1987, and the whole sum was deposited in the banks. at an interest of six per cent., until arrangements could be made toloan out the money in the several counties There was received from the banks on account of interest in 1837 and 1888, about $70 000. The first pnyment of interest on the mortgages ‘was in October, 1838, which came into the fiscal year of 1839, and embraced in inany cases more than ofe year’s jaterest ; so that the net revenue of that year appears to be $333,582 66. Tho total amount realized from the fund from 1837 to 1847, eee cee eee $2,628,770 04 There bas been taken from t! revenue, to meke good the capital where defaults occur- TO eee er eee see cues »-$266,688 29 Deduct amount realized from resale of premises bid in... Absolute loss. . ...4..++6« «+. $112,088 77 +154 454 51 112,083 77 Net revenue from 1837 to 1 bose ee «682,516,686 27 . INCORPORATED B. Three tables havebven prepared aud annexed to this report, marked Nos. 9, 10 and 11, which together pre- sent the state of the account in reference to circulating notes with each incorporated bank. as these aecounts appear in the incorporated banking department The first of these tables (No. 9) shows the denomina- tion and amount of countersigned and registered notes delivered to the several incorporated banks, prior to the first day of December, 1847. Also the smountof non- 00 —-—— $269291 98] registered notes in the possession of the banks or in circulation on the firet dey of August, 1844. 2a. Table (No. 10) shows the denominstion and amount of countersigned and registered notes returned tothe Comptroller’s office by the several incorporated banks prior to the Jet December, 1847. Also the total amount of non-registered notes destroyed from August 1, 1844, to December 1, 1847. 34. Table (No. 11) shows the denomination and amount of registered notes possessed by the incorpo- rated banks. Aiso the amount of non-: da notes in their possession or in circulation, om lst day of Deowmber, 1847. By referring to the first of these taMies, it will be seen that the circulsting notes which have been registered and delivered to the incorporated backs since the pas sage of the wet, chapter 218, of the laws of 1343, BMOUNE tO. ose e vese eee cere s tee os ++ «$80,239,090 00 The second table shows that the regis- tered notes returned to the Comptreller’s Office, amount to the sum of..... 9,161,051 75 boca | with the banks, as shown in ta- ell... seeeeeees soe eee e ees s$21.078,038 25 ‘The totals of each denomination registered anu de- livered to the banks, as well as those returned, and the mount now possessed by the banks taken from the footings of the tables referred to, are as follows: Total Re- Anount ry $30,239,090 9 161,051 75 21,078,038 25 ‘The act passed in 1843, “te abolish the office of bank commissioner.anc for other purposes,” required that the president and casbier of each incorporated bank should return to this office a statement under oath of all notes in the possession of the bank or in circulation. on thi Ist of July, 1813, and at the same time deposit all the plates of the bank with tbe Comptroller. provided for destroying the old notes by an ageut of the Comptroller and of the bank. and issuing new notes, to be countersigned and registered in the Comptroller's office. The tots! amount reported in circulation, and in notes aud printed impressions on hand, July 1. 1843, was $38,490,265. Of this amount the sum of $19,910 585 was destroyed before the close of December of the same year. And during che same time, or from the let of July to the Ist of Occember, 1843, there were printed, countersigned, regietrred, aud delivered to the banks, notes to the amount of $19,645,836 The old non-registered circulation of the banks on the let of July, 1443,amounted November 1, 1847, pe “3 716.620 The above amounts were in actual circulation at the dates mentioned At the same periods of time, ve were small amounts in the possession of the which had been redeemed. but not yet destroyed. An extra number of copies of the three tables, Nos. 9, 10. and 11, have been printed and sent to each of the | incorporated banks, sccompauied by a circular dated each bank to exqmine the tatles in reference to their own institution, and transmit to the Comptroller with- out delay, an acknowledgement of their oorreciness; or, accounts may be adjusted and corrected Such of the banks as have printed impressions of tank | Dotes in the Comptroller’ joe, were furnished with a statement of the numb-r and denominations, and were requested to test jis Accuracy by their books, and furnish | Ube result of the examination. | The quarterly s atements requiied to be made to this office by the State banks, under chap 2/8 of the laws of 1843, bave been received and published as required by (hatact The statement for November last is aonexed, marked No, 15. | . Summaries of the quarterly statements of the banks at different periods, are given in the following tables The following is a summary of the vevources and Ji ties of ail the Bunks of chis Sate onthe lst day of 1816 and 1847. Resources. let Nov 1816, I#t Nouv, 1817 150 Banks and 167 Banks,and U 5 Qhranches. 2bran hee Lonus and diseounts., . + $74,301,989 $80 857,062 H rrr . © Foee7L 3.964618 Bankfand.... 4 Loss aud expense account Over drsfts 1% ° | 10725 799 | $192,2.9,076 | $13,270,001 | 6,043 992 | 26,257 256 1,000 945 1603.19 depositorson den 95,006 Ble Due wividaal nt 908 906,810 Dae bauke... wy oes 12,978,464 17,034,010 | Due Vreamigeofuye U: Biever 1.0y9 32) Aim'tuotimelu'd inavove items 690 706 Sista by ae Latte cceamenoed. busksees durieg = year, vis: nf * . " metican Bank, Mayville, utaugue county. pe, Gollay notes, 198 08 B18. 10. Seman oe pyhtita Bank of Now York, Clymer, Chasteeque eoun- d 1288 014 00 A do 6.199210 00 | Bank of Bainbridge, Bainbridge, Chenango county. Ten do 4'070,310 0 | Bank of Cayuga Luke, Ithaca, Tompkins county. Ewenty do 1452160 60 | Bank of Laxe Erie, Buffalo, Erie. Oar bended p rf 365,200 00 Bank of Saratoga Spridgs, Saratoga Springs, Saratoga Five handred do 796 500 9 | Gounty. : Une thousand = do 1,432 000 60 Bowery Bank, New York city. Tae law also | 4 $1.951.444 46 Heoeyt te Foret igo | Circulating wotes issued on the above... $1,018 166 00 February 1, 1845, .. 1,101,872 Thirty banks have been closed by the Comptroller February 1, 1846... 804,442 | since the passege of the general banking law. ther banks, on the Oth of December 1847, requesting the officers of | if the printed statements differ from the entries in the | books of the bank, to state in what it consists, that the Aoonxoate Statement or *88 Fars Bangs, on THE 1st Day or Novesaxn, 1847. Rerourees Liabil and a) soryuotes....., 10,422,991 73 665 Loss aud expense 443,192 29974 D Ovi 32 165 691,132 Bills of bs. Gia, a of uapended eed i 110,872 ADAG... wee eee OMS ee pee eeere f Due frombaaki:.. 1,977413 jal 872 * $41,641,872 94: of this mniabae abd toe tepait. in Acorgoate Statement of 79 InconPoRatED Bans ann Condition December }, 1847. New York and U.8 Socks, See o Stocks of other States,. vel 9% 00 Bonds and mortgages... a gt 21 90 ++ 6 998.972 585 00 soe + 964,009,612 00 Excess of circulation over market valug of + e+ 66127077 00 oed busiuess since of December. 1£41,and have deposited securities amount «f $6903075 have turpished ample meas for the redemption of their circulating notes ot r. In 1841, the deficiency iu the securities of therfree anks for tne redemption of the circulation was 18 per cent; whereas now, upoo the ame principle of calouls- tion, the securities excved the circulation of $10 366,654, 3 per oent. i Twenty-one banks have been ¢losed by their own stockhojders, fourteen of which have complied with the 8th and 9:b sections of the genural banking law, passed May 26, 1841, amd the amounts held for the redemptiou of their uetes given up ; the remsining seven have not as yet complied with the law, and have circulating notes outstanding amounting to $3,600, tor which au equal amount is held by the Comptroller to redeem the same, Circulating notes vis.: Name of Bank. Rates of outstanding, 00 redemption. Exchange Bank, Rochester, Pa Farmers’ Bank, Malone, . 1277 00 do Orange county, 82 00 us wufucturers’ Bink. 850 00 “ American Bank, . Willoughby Bapk,...»- Wool Growers’ Bank,.. $3 503 00 Of the thirty banks which have been closed by the Comptroller, there has been a second dividend in only a single casc—the Washington Bank of New York. In twenty-five out of the thirty cases, all the securities in tne hands of the Comptroller were disposed of at the first sale, and the entire proceeds wer. ided and paid to the bill holders. In the cases of five banks, the right of the Comptroller to sell certain mortgages was called in queetion at the auction, and in these cases the mort- gages were withdrawn from the sale and foreclosed in ebancery. ‘The first of these was a mortgage of $4 275, ‘Two Braxches, on Tux let Day or Novempen, 1647: Hesources Liabilities ; Lorna 59 431.124 Capital $29 941 460 Due Cant Fand ue Canal Due depositor we depositor ‘lis of solvent bis 1: Bills of suspended ban! Ragteaty 2078 Due from banks.;: 6.748 342 $99,607,404 $90,607,404 TO THE AAFETY FUND BY FAILURES OF BANKS following stutement shows the c sums contributed to th ity Fund, dy ei whioh have become {40 the sums drawn trom insol the Safety Fund to pay the janks. a Capi ‘und. 78 645 29 284 603 2 Fund. $400,000 $4.333 33 $: 200.000 6,000 00 Commercial Bank of Buffalo. 400,000 42,000 00 G11 010 $7 Commercis! B: N 500 060 15,000 00 285 950 23 250,060 5 308 2t » 200'000 4,263 00 250,000 5 416 66 100,000 3.000 00 200,000 5211 28 500000 17,590 60 8 0 150,000 ¥,250 00 loss of capital to the stockholders by the banks before named, of $3.150.000; add to this the loss to the Safety Fund, $2,577,926 67, ang it makes @ total of $5.727.926 67. These banks paid into the fafety Fund $86,282 42; this shows a loss of capital ‘Uf $5 Gat ,647 25, : ing amounts of circulating notes of the ke- mnt Safety Fund banks have been presented at the Comptroller's office, and redeemed, in the last three years, a8 provided by the act, chapter 114, laws of ro - 1915. 1816 Com Bank of Saisie 18 562 15 570 7.81 ‘Watervliet Bank. . 4,461 270 317 5,048 Bank of Buffalo... . 349 205 255 1,809 om. Bank of N. Vork., 447 184 81 Ta Vayne + onety Bank, 6 a7 3 16 City Bank of Buftal 55 40 135 La Fayette Bank, N. te 21 7 38 7,012 $10,121 ; R marine by issue ae i inser dit iti Watervliet Bank + 7,568 aoe 27, Bank of Lyons. . beg see iiss . $84,610 $20,307 $6314 $111,231 FREE BANKS. ne The aggregate amount of the circulating notes of all the free banking associations and individual bankers in operation on the first day of December, 1847, was $10,366 554. bs The securities deposited with the Comptroller to se cure the redemption of these bills was, at the eame date’ vis N. Y, State 456 per ot. stock, $265,376 56 « 5 “ 4,856 189 24 ve) oO . 892 000 00 “ 6 “ 1,055,665 00 “ 7 “ ‘801,009 00 ———= $7,900,229 80 States, 5 “ $55 000 00 6 - 69,000 00 +———_ $114,000 20 Ind. State, 6 vd $6 650 00 Ark: State, 6 ; 499,000 v0 5 ba 34 000 v0 6 bs 643 666 67 Mich do 6and7 “ 230,608.00 1,463.924 67 Cash in deposit..... . + 62726 86 Bonds and mortgages... .. 1,689,363 40 Total amount of securities. . - $11,100,253 73 (See Statement No. 12) Inc, of N.Y. 8. 436 pr. ot. st’k, $37,400 00 “ 64 2,843 :057 30 “« 5K 407.000 00 oe “« 6 & 454,073 00 “ 2 185 873 00 "United States, “ . 9 000 00 $3,436,403 30 tDoIndiana6 = * 2.651 00 “ onsh deposited. .... 24687 79 “ bongs and mortgages. . 7,097 00 $3 470 838 09° Increase of circulation on the above...., $3,331.656 00 Decrease of Michigan 6 per cent stock,... $206,425 6) Two associations and nineteen individual bankers Farmers Bank, Mine, Chautavque county. 2 Frenkiin Bank, French Creek, Chautauque county. {Commercial Bank, Albany city. Commercial Bank, Friendship, Allegany county. Co.merotal Bank. Lockport, Niagara's unty. Henry Keeps’ Bank, Watertown, Jefferroa county. Melatyre Bank, Adirondaek, Essex couaty. Merchants’ Bank, Ellery, Chautauqus county. New York scam f Bank, Huntsville, Saratoga county. Northern Bank of New York, Madrid, St. Lawrence county. roe 3d Exchange Bank, Brasher Falls, St. Lawrence county. Pratt Bank Buffalo, Erie county. Rochester Bank, Rocaester, Monroe eounty. State Bank, Saugerties, Ulster county. ‘And have deposited the following securities, viz : New York, 5 per cent stock, $1,438 194 46 be ohm 98 821 000 00 95,000 00 7 Bonds and mortgages,..... A statement has been prepared and is annexed, mark- ed No. 13, which shows the amount and kind of securi- ties held by the Comptroller at the time of sale for each bank, the proceeds of securities, amount of circulation outstanding, dividends declared, ameunt of notes unre- deemed, and amount in deposit to redeem raid notes, December 1, 1847 The result of this table is as follows ;— New York State stocks sold,.. $143.350 00 iiinois " 289,000 00 Arkansas 4 157,000 00 Indiana ” 424 000 00 Alabama bs ~ 98.000 00 Miobigan ¢ ++ 79.000 00 Bonds and mortgages,...... 441,397 86 : ———-——— $1,661,747 86 Prooéeds of sales of securities,.. .. ves $971003 98 Showing a loss on securities, of. $610 743 68 Circulation at the time of sale $1 239,285 00 Amouot redemmed to Decem! " and returned to the bank department, Circulating notes outstanding... . Statement marked No. 14, and hereunto annexed, ex- hibits the condition of banks doing dayn of December, 1841; 1842 and 1847 ; in this state- ment is embraced all the banks which have stocks of other States deposited. The result is as follows :— Condition December 1. 1841 1,215,483 00 New York State stocks, 874 200 00 ‘Stocks of other States, 1,939 000 00 Bonds and mortgeges, 1.383.978 00 ———~ $4,197.178 00 Exoess of circulation over market value of securitie! seen tenes +++ $608,460 00 Condition December 1, 1842. New York State stocks, $889 160 00 Stocks of other States. ... . 1861 000 60 Bonds and mortgages, . ,.. 1,947,018 00 — $4 097,176 00 Market value, .. Circulation, .. «+ Excess of circulation over market ralue of | ROCUTINES ee err eee ee serene ena ene 6 6 F480,708 00 | “© ‘Additional securicy. | | ee sabe’ at Me “up all the securities theretofore pledge for the notes of the Bank of America, at Buifalo. The litigation in this case is not yet closed. ‘Another was mortgege of $10,000, given to seoure the rédemption of the notes of the Merchant’s Exchange Bank, of Buffalo. A decree was obtained in this case several years since, and after various efforts to sell at private gales, the lot was put up at the land s:le of the Surveyor-Geveral at Buffslo, in October last, and was bid off at $3,100, one-balf cf which was paid to the Comptroller, and the purchaser will give a mortgage for the other haif, pryuble in four ¢qusl instalments as scon as the chancery paprrs are perfected go that the Comp- troller can give a deed Ta the cas: tue Farmers’ Bank, of Seneca county. there wore two mortgages conterted In one case a re- covery has heen bad, and $3,500 has been realsed from the sale of the farm.’ There is a morigage of $650 now iu course of collection, and a second dividend been deferred until the result of this suit js known. There is a mortgaze of $2,500 pledged tor the notes of the Bank of Brooxport, also ia the ovurse of collection. The Washington Bank. of New York. had deposited with the Cemptroil-r s mortgage of $10,000 which was contested; but the Comptrolier obtained a decree in chancery, and sold the premises for $1239? &6, which enabled Ries to declare and pay & second dividead to the bill holders of the Washington Bank, of 65 per cent, having in the first dividend paid only 35 percent In selling the premises recovered on this mortgage, one lot was purchased and paid for, the title to which .otally inat the State, Leg! 1s surplus in hands of the Comptroller belonging to this bank, and law was passed, chapter 259, of 1845, under which he re- ceived on the Ist July, 1846, the sum of $955 60, which nearly indemnified bim for the i In the case of the Merchant re will be $3 100 to divide, Farmer's Bank, of Seneca county, be. added to this eum $660 more. ‘The wums to be rea- lize¢ on account of the Bank of America, and the Bank of Brockport, cannot be rtated with any certainty. ‘The twenty-five other banks which have been closed, and for the unpaid per centage of the notes\of which cer- tifleates mm, to those who presented the notes for redemption, there is no chance for another dividend, unless the Legislature should determine to divide among those who hold these certificates, the bal- ances in the hands of the Comptroller, aud which have not been called for, amounting, as shown in the table, to $22,282 94. This money belovgs to those who hi not yet brought in their not: pay m, on the average, some 76 per *Shall the State, custee for all the bill holders, apply this money to the e of thore who have already received their share, or 76 per cent, and leave nothing for those who are remote from the channels of busivess and of intelligence ’ Those who hold certificates and desire to get a second dividend out of the balances in the hands of the Comp- re considerable, and pro- that will coms in There aré not many n¢ tes iost of these short-lived banks, and the holder of one of there notes for five or tun years {sas much entitled to his per centage when he does pre- sent his bill,as the man who appears on the day the divi- dend isdeclared. Bill holders are subjected te losses enough without being cut off, by a statute of limitation, from a fund placed in the custody of the State for their use. It {s respectfully recommended that this trust fund be paid into the State Trearury, and be reserved for the payment of the notes of the reap.ctive banks, for which the sums were pledged. until the notes are presented. ‘Twenty-one banks established since the passage of the been closed by their ‘act was passed, chapter the Comptrolle inguoh bank as same, and to give posited by,such bank: pod or | eee for the redemption of circulating notes ued. been located, that ell circulating notes issued by association or bank, must be presented at Somptrol- ler's office within two-years from the date of such notice, or that the funds deposited for the redemption of the notes will be given up to the bank or association, and on reociving satisfxctory proof of the giving such notice for the tim aforesaidy the Comptroller shali surrender to the order of the safd association or bank, any securities | which he may hold for the payment of any unredeemed notes of the said association or bank ” * Tn provision operates with extreme hardship and injustice towards such bill holders as do not see the no- tice, Hundreds and thousands of dollars may be held | by persons who do not read or know of the existence of | ch papers as the notices are published in. Let it be supposed that one of those persons in coming to Albauy, haga ten dollar note, and in presenting it to a merc! is intormed that the bank bas been closed by t! and directs him tothe redeeming agent, the m: 1s appointed to shave the note at half of one per cent b: statute; when mts the note to the ageat, he is | informed that he is a day too late, the notice of two years to bring in the notes expired the day before, and the banker has withdrawn his funds from the custody | of the redeeming sgent. The unfortunate bill holder nota, and finds on one end of it the | ‘secured by pledge cf public rtocks | nd registered and countersigned in the | Comp'roller's ‘office of the Stateof New York” He then calls at the Comptroller’s officy for the redemption ‘of the note out of the pledged securities. and finds that he is a dey too late; under the act of 1811, the Comp. troller haszeturned the balance in is hands to the | perton who issued the note, and this pledge on the face of the note, {s :nus repudiated according to a ~Cases of this character have occurred where the | banker was entirely Fespocalbis, and the notes were not | redeemed without considerable reluctance on his part, and drJay and vexatiou to the holder ‘A great number of banke are going into operation where the only porson who couid be looked to for the redemption of the notes after the withdrawal of the re. curities from the Comptroller, has very litle interest | io the bank, and no control over itsiunds. Ja such | cases the parties who furnish the stook and use the cur- | renoy, could very readily reduce the circulation to ten | per cent, give the notice, withdran the funds fom the | Comptrolier, and leave @ good share of the ten per cent in the hands of persons who might as well Ica» the note ‘as attempt to collect it from the nominal banker, at some remote point in Cattaraugus er Chautauque coun- jes. In the opinion of the Comptroller, the %h section of | the act of 1841, before referred to, ought to be repealed; | and when the mansgers of « bank reduce its circulation | to ten per cent, they might [be allowed to diecontinus “he redemption of their notes by paying che tem per cent | into the State Treasury, to be held ier the redemption of the circulating notes whenever presented. ‘When the statute requires a public officer to stamp the currency awhorised to be irsued, with a pledge that the payment of the same is secured by fands in bis hands, the holder ought to feel as safe, 60 far us the a0- tion of the government is concerned, as he does with coin stamped at the mint It is a breach of good faith to part with securities thus pled leaving the con- fiding bill holder to look for the redemption of @ note, perhaps to a man of straw, located at the most inaccessi- ble point in the State. AGENTS FOR REDEEMING NOTES OF THE BEVERAL BANKS. Statement No. 8, isa list of the teveral banks tin this State, with the place where each bank is located. aud me of the agent for r ‘This list is made out from the record It is apprehended that in se- veral cases thi en changed without giving ice, a8 required by law. The officers of all the banks to whom this report will be sont, are desired to examine the list, and if the inoorrestly given, to furn! the Comptri — information to enablé him to make the cor- rection. SECURITY FOR BANK NOTES, The 6th section, article 7. of the Constitution, declares that ‘the Lrgitlature shall provide by law for the re- gistry of all bilis or notes iseued or put in circulation a6 money. and shall require ample security for the redemp- tion of the sanre in apects ”” The first requirement of this section is fully provided for by the act chapter 215 of the laws of 1843, ‘The pro- vision in relation to thewecurity to be given for the re- demption of bank notes has not been complied with, and this is matter of too much importance te parr over another legislative session, without # iuil compliance with the requirements of the Constitution It should not be forgotten that all thé contributions to the Safety Fund by the banks now ' cr ation, are mortgaged for toe Bank Fund #took {ss 1ed jn p- yment of the debte of the banhs which fniled in 1si!-2, and thot there is no longer o resurt to afund to redeem the netes of any of the eafety fund banks in cane of failure The security of the present ciroulation of the ratety fuod benks, smounting in the epgregate to $16,026,019 ree's solely On tha rolvenoy of each bank Issuing the poten i | rangemente for the redemption of its not ‘The stocks of this State, s0 long as the faancis! article of the Constitution remains uadisturbed, will afford * ample security’ for the redemption of bank notes The see Fund provided by the Conetitution for the peyment of the State debt, will gradually diminish the ok one ra a Ce capee = ehgnin she nalaety, sun iucor] banks as chsr srpite in the ace sata 4 of Comptroller in ise, and be- the adoption of the Constitution, it was suggested that“ bill holders of the Safety Fund banks might be amply scoured by the payment annually into the T'rea- gury of a sum equal to ha'f of one per cent on the capt tal during the life of the charter; this sum to be inves'- ed, and the accumula‘ions added to the fund, and held by the State as trusteefor the billholder” * * * “ip xdd tion to this, security might be exacted for the punc- tual payment of the per coa.age on the delivery of the ciroulativg notes to the officers of the bank, and such # provision would eff-otuslly protect the bill holder as well as thee-sociated banxe,”’—Assembly Doo No, 25, of 1846. e8 71-2 ‘As security now is only given for the redemption of the circulating notes, and not for the debts of the banks geperaliy, as was required by the Bank Fund law of 1529, the halt per cent. might be exacted only on the amount of notes issued by the Comptroller to each bank. The exaction should be ten per cent., allowing a charter for twenty years; and this on $160,000, the amount isgued by @ bank of $100,000, would be $16,000. The n ity of paying this sum into the Treasury, or securing its payment, and placing it beyond the reach of the banker, would to some extent counteract the prevalent tendency to establish banks at points where there is no business requiring banking facilities. ‘The Constitution only re- quires security for the redemption of circulating notes, and it seems to be entirely equitable that each bank sould contribute to the fuod in portion to the notes issued avd used for its benefit. Each free bank is held to the same rule, by being required to give security in exact proportion to the amount of notes which it puts in circulation. With paid up capital, and ten per cent. on the notes secured to the Safety Fund, to be held and husbanded as before suggested, it is believed that the currency weuld be amply secured, as contemplated by the Constitution ‘Thin mode of contributing to a common fund to pro- vide the means for redeeming the notes issued by any one of the contributing banks which might become in solvent, would require the assent of each of the associate banks, as it is not fairly inferrable that the Constitution iutended to force one bank to furnish means for securing notes issued by another, unless by the assent of the cor- porators or associates of each bank. All existing banks, therefore, ought to have the option of centinuing under the proposed Safety Fund systew, or of securing the notes which they i:eue as money, by depositing State stocks and bonds and mortgages,as provided in the gene- ral banking law. FAR RFDEMPTIONS IN NEW YORK. of banks have vecn established in this State un- der the aystemn of free banking, not for the purpose of furni banking facilities to the business of the places where they are located, but with a view of putting the notes in circulation. in New York at par, and redeeming them at a discount of half of one per eent., as provided by ntatate In the annual report of the Comptroller in 1844. (p 61 to 63) the attention ef the Legislature was called to this subject, as an evil which was then com- mencing, and it was suggested that an effectual remedy would be found in requiring all the banks to redeem their notes at par inthe city of New York This whole some reform in ourrenoy has been defeated from year to year, by inte: aptegonist t: ound currency. Av attompt was made to remedy the evil by requiring ‘ite of fifty thousand dollars as condition for the sue of notes. The inefficiency of this remedy 1¢ appa. rent from the fact thit nifPfeen individual banks have been established within the last year, with capitals of $50 000 or more, and many ef them at points as fur re- movrd from the principal channels of business as it was practicable to have them, without onening new roads. In almost every case the netes of these banks are secured by stocks of the State of New York; so that the notes would be half a percent baiter afier the death of the bank then during its life. ‘The opponents of par redemptions complain of the in- justice of compelling the banks to redeem at two places. The practical effect would be a redem tion at only one Place. And than as to hardship—the banks crowd twen- ty millions of dollars of currency into the hands of the making tl their notes at a point which would render them eq lent to gol dil they are content to reap t! ditional gains, on the discredit of their own promises,! y redeeming them at half of one per cent. It is contended that half of one per cent is only a fair remunertion to the banks for transmitting fands to New York to redeem their notes. Is it to be supposed that the banks which have furni d facilities for sending products to tide water of the value of seventy millions of dollars, will be subjected to inconvenience or expense in getting fands in New York to redeem their notes? 1n the annual report cf 19:6, statements were present- ed whieh proved that those banks that kept their notes at parin New York, had as a ciroulation as those that redeemed at a discount of half of one per cent. ‘When ample security, as required by the constitu- tion, shell have been provided for all the circulating notes, with a conviction in the public mind that all the bills registered and countersigned are amply secured, and at par with gold and silver in New York, what is to prevent the currency of this State from becoming, if not # national currency, at least a favorite medium in that vast region of country at the wast, which contributes 0 large a portion to our esnal revenues, and looks to New York for a market fur its products? Bank Commissioner and for other purposes,” passed April 18th, 1843 provi that “‘it shall be competent for the Comptroller, whenever he shall have good and sufficient reasons to suspect the condition ot or the correctness of its quarterly report, to special agent to examine the affairsof such 0 for that purpose shall have the vested by law ina Bank Commissioner ‘The authority given to the Comptroller in this seo- tion, been exercised in reference to the five follow- ing bi The Lockport Bank and Trust Company, in Janu ry $45; the Bank of Rochester. in September, 1845; the Lewis eon | Bank, in May, 1846, avd iu Ov- tober, 1847; the Canal Bank ‘of Lockport, in |August, 1846; and the Bank cf Watertown, in June, 1847. In the case of the Lockport Bank and ‘Trust Compa- ny, Thomas M. Burt, E+q was appointed aprcial agent, and commenced the exawination of the bank on the 3d of January, 1845, By his report it sppeared that the affairs of the bank were in a very embarrassed condi- tion, andthat immediately after refusal of its notes at he agency in Albany, and before his arrival at the bank, nearly the whole of iis assets which were consid- ered of any value, were assigned to secure certain cre- ditors other than the bill holders There had, however, been previously arsigned to the agency in this city, as: vets to the amonnt of $116,701, to recure tae payment of a large eum due for the redemption of its circulating notes Amongst the Jiabilities of the bank was one amounting to $36,944 87, to the Commissioners of the canal Fund, for canal tolis hee ponsatinwif the collector at that place. ‘The special agent reported that this debt ot the bank was less adequately secured than any other, to seeure the peyment cf which the assignments bad been made It was the opinion of the then Att General, that the bank poeseesad the legal authority # execute these nd cons- quently no application ageigomen’ Soon after the report of the special for an injunction. agent was received, the officers of the bank made ar- sociation still continues its banking operation: debe. due to the Canal Fund has been reduced to of In the case of the Bank of Rochester, application was made for an investigation in bebslf of the officers of the bank and of rome of t principal stockholders pointed speci id ept s. ‘This bank was firat chartered in 1824, with a capital of $250.000. Im Mey, 1545, the charter was extended for two ye ora, provided the stookholders asrented to beoome perronally liable for the debte of the bank, and that it should also become a contributor to the Safety Fund. A portion of the stockholders protested agatust incur: Hing the linbility; and st was determined to wind up the ank. ‘The special agent reports a loss of about $100 000 of the capital, bnt also reports that “it possesses the ability to discharge all ite liabilities to the public,’ and that he ration The has not discovered that the said banking cor, has niolated any provision of binding on it, agent therefore did not deem it nec proceedings in ebancery, and the allowed to proceed im winding up t ‘The special agent reports further, t $40,891 50, charged in the statement to suspense ac- count, “rapreseuts nothing of value, but consists of & amount of notes of the bank whieh have been redeeme from time to time, aod which appear to have been at rome time fraudently iraued by, or bank, it was some time since discovered, that 200 im- pressions of a $25 plate ($5000) had been put into cir- culation, which were not entered on the buoka of the bank to the debit of the cash account. Th now entered to the debit of suspense accoun a part of that item inthe statement. How thesenotes got into circulation, is as yet unascertained “It would hardly seem possible to have bi neglect to enter their issue upon the books, case the cash must have exceeded the cash account by that amount, and of t here is no evidence. It in most equally difficult to sccount for the fact in any other way, the integrity of all the officers employed in the bank, being unimpeached. The balance of the expense account covers another loss, attended by circumstances more inexplicable. Of tho different impressions of bank notes previous to the registry law, there appears to have been impressions which would make bank notes amounting to $2094805, The account of bank notes made from there sheets, as it re on the books of the bank. cor- responde within a few dollars with this amount Ditfer- ent committees of the Board of Directors h at dif. ferent times, certified on the book kept for tl to the destruction, by them, of bank notes to the amount Of... ces ees erree sees o® It appears, also, by the books, that of these impressions there have been countersign- ed and revistered by the Comptroller... And that there are still remaining in the handa of the Comptroller, sheets amount- Making a total Of. 0.666 cee eeeereee oes $21IG M03 and being an excors of $29,491 over and above the amount required to correspond with the impresssions printed. “This excess, together with the $10,000 before men- tioned, and another small discrepancy ccourring in the notes withdrawn from circulation and ofterwards rets- sued, constitute the loss zepresented by the suspense ac- count, so far as han been ascertained. “‘Ansuming the account of bang paper printed to be correct, it follows beyond questiqdthat the certificates of burning, are some of them iccofrect, unless there ts an error in the ascount of sheets which have passed through and are now remaining in the Comptroller's of- fiee, which fags | have taken upon the testimony of the President of 0 bank “How thencan the fact be accounted for, that s large amount of oe + bich were orrtitied to have been destroyed by buro got (nto elroulation and om redeemed by the bank? “(Ag in the case before mentioned, there dors not ap peer at apy time to have been any wm rial excess of oaeb, whic! ooourred Unless a fraud were committed. Space ans Wear teak 1M ewapicion againet any ef i, oF to ashes, Dave afterwards | books show n excees of notes destroyed, of $33 930, beiug of every denomination except two's, but chia of the denominastiogs ot one, five and ten do!- are. ° Ta the case of the Cana! Bank of Lockport, Thomas M Burt, Esq, was appointed special agent, aud com- menced the examination on the oth of August, 1845. — The resources. which were estimated by the bauk at $181,765 39, were estimated by the special agent at $78,224 96. The report states (hat “the amount of loant acd discounts have been dim the first of May, 1845, tot! ‘This larze dilference has a caused by compromising with some of the debtors Mthe bank; one of $64 000, avother of $12,000; and by surrendering $73700 in stock notes, 80 called, which have for several yeste past been included with the loans and discounts of the bank in its quarterly reports” * * * “Tne stock notes were given by G W K rs, tho cashier of the bank, in December, 1941, when a like amount of stock was issued to him, with the view, es is stated, of disposing of it for cash, and thus increasing the active capital ofthe Aemail amouet only was thus disposed of, and the resi- due, $73,700, was transferred to the bank in February, 1842, by Mr. Rogers, but his notes given therefor, were not cancelled or withdrawn until ufter the failure of the bauk The capital stock is now etated on the bool of the bank at $156,600, instead of $230,000, as heret fore. “ Cash payments were suspended at the bank on the morning of the 15th of Juae, and before its notes were refused at itsagency in Albaay. Shbsequently six or seven thousand dollars of iis notes were paid out todepo- sitors, in violation of the 5th section of the act entitled “An act relating to the redemption of bank notes,” passed May 4, 1840.” At the time the bank was examined, it hada circule- tion of $138,630, and about $10,000 of its notes in the bank. The securities in the hands of the Comptroller at that time were as follows: Bonds and mortgages,..... + + $86,500 00 Arkansas State stock, ++ 76,009 00 Illinois State etock....... 2040 00 $163,000 00 A bil! was filed in the Court of Chancery, and en in- Junotion granted sgatuet the bank and ite officers. And ‘on the lath of October, @ committee of the direc: tors made arravgements with an agent to redeem the notes at the agency in Albany, and also at the counter of the bank. Under this arrangement the circulating notes of the bank to the amount of $112,945 have been returned to the banking department and burned ; and mortgages to the amount of $71,000. and New York State state stocks tothe amount of 20,000, have been transferred by the Comptroller to the agent. The cir- ue now outstanding amounts to thé sum of 35. In the case of the Lewis County Bank, Thomas M. Burt, Erq. was appointed epecial agout, aud commenced the examination of the bauk on th- 26th of May, 1846. After @ iuil examination, application was made to the Chsncellor,andian injunction was granted againet the bank When application was made to the Comptroller for an investigation of the affsirs of this bank.it was rep- resented that a large amount of its notes had been loaned to, or placed in the Bauk of Wstsrtowa for oir: culation, and that this operation precipitated the em- barrassment of the Lewis County Benk; and a com: mirsion was given to Mr. Burt against the Bank ot Wa- tertown in order that the affairs of both banks might be investigated in connection with the tranraction re- ferred to. It was ascertained that about $15 000 of the circulating notes County Bank bad been placed in the hands of the cashier of the Bank of Wa- tertown. It did not become necessary to use the com- mirston issued in case of the Bankof Watertown. There was also an overdraft of $9271 35, which proved to be a loan of nots of the bank to « responsible person in Jefferson county, which notes it was said could be returned, when called for, in the original pack- ages as they went from the bank. An arrangement was mi to have 60 per cent paid on the stock of the bank, and the obstacles to its resump- tion of business we: moved, The Canal Fund bad a claim sgainst the bank of $20.000, for aloan made in Dec., 1839, and for which held a certificate of deposite signed by C L. cashier, and also held as collateral security ment of the the individual bond and mortgage of Jonn W. Martin. and two of his brothers, The special agent found no acknowledgment of this debt on the books of the bank ‘The whole sum, how- ever, has subsequently been realized to the Canal Fand, from the foreclosure of ti tins, This relieves the bank from # olaim of $0,000, end to this extent improves its condition. ‘Ibe Comp- troller,however,did not consider that the character of as- sets of the bank, authorized an issue of the full amount of notes prescribed by law for a bank of a capital of $100000. The bank has $128,273 in registered notes, and $2.438 outstanding of its vid emissioa, making to- gether the sum of 130,711. In Ootober last, » demand was made for about $20,000 more, making $150,000, the amount allowed by law to a bank with a capital of $100,000. Brfore acceding to this demand, the Comp- trolier determined to have the bank again examined by Mr. Bart,in order to ascertain whether the assets had improved to such extent as to warrant it, and ascertain whether the condition of the bank afforded satisfactory evidence that the new capital of $50 000 had been paid in, and kept in the businers of the bank. ‘On the 15th of October a commission was issued to Mr. Burt, and on the 18th he commenced the investiga- tion. After dus examination of its affatrs, the epeo! agent reported estimated value of ‘the assets over the Habilities as exhibited by the cashier. and as sp- peared by the books of the bank, to be $84.896 15, which would entitle the bank to a circulatton of $127 344. the amount alresdy in its possession being $130,711 Under this state of facts, it was determined by the Comptroller no further delivery of registered notes could be lly as the special agent also reported that wit pending sgsinst the bank for the re- covery of « demand of about $15,000, which did not ap- pear on the books as a liability, and which was not taken into consideration in his estimate of the value of the stock. ‘The report further states, that no loan appears to have been made by the banks to enable any stockholder to pay in the 60 per cent on his stock; but that it did ap- pear that loans to s considerable amount were made elsewhere, to tockholder, who had purchased he stock of the bank, to make the payment; but the precise amount of such loans could not be ascertalned. The report also shows that the loans and discounts to directors of the bauk, at the time the examination was made, exceeded the limit prescribed by law, to tho amount of $6.761 35, It ras propoeed by the cashier to cure this difficulty, by procuring the resignation of one or more of ehe dir ctors; aud judging from the quacter- ly report of the bank of the ist «f November, this been adopted. case of the Bank of Watertown, Thomas M. appointed special agent. and commenced the ion of the bank on the 29th of May. 1847. special agent discovered Pacienoy of $11,042 62tin the statement of discounted bills of the bunk. Thiserror had been repeated and sworn to in all the quarterly reports for the two previous years — The officers could not, or did not, explain the cause of this error. The report states that “in making up the belanoe sheet, which showed a surplus af profits to di- vide, there t the time of making the last dividend, id interest to the mount of $12,835 on the Arkan- and Illinois stocks included with the resources. the stocks being also estinm«ted at their par value The error or deficiency of / + (42 82, has also gone to sweil the resources above the tru amount. “On the Sist day of Joly 1946, m draft for $2,087.60 was drawn on a person io Kingston, Canada, by the cashier of the bank, end credited to the account of such perton. This draft was counted as specie the next day, August Ist, and included with the specie actually in the bank, in its quarterly report to the Comptroller made on that day. And it remained in the bank, and was counted aud was sworn to a8 specie in the quarterly re- ports of the bank of the first days ef November and February last. On or about the 27th day of April Inst, the draft was charged to the person on whom it was drawn, it not having been eut of the bank, or forwarded for payment “On the 30th day of April last, checks for $1,000 each, drawn by the cashiers of the Bank of Watertown and Black River Bank, on their respective banks, were ex- changed, at the request of an offio-r of the frst named bank, and counted and reported aa specie by the Bank of Watertown. on the Ist day of May, in its quarterly report to the Comptroller. No record of this transae- tion was made on the books of either bank, and the checks were destreyed immedistely after the report was made. All the specie in the Biack River Bank on the Ist day of May, was included in tne report of that bank.” On the 99th of Novembur last, the circulation of the bank was reduced to $29 140. aud there was ju the hands of the Comptroller the following securities, vis: bonds and mortgsges, $25,059 20; Arkansas 6 per cent stock, $3 900; Illaois 6 per cent stocks, $1,000; total, $65,- jo! Assurances being given that the bank would be placed on @ sound foo'ing, and that all the creditors were paid or secured, procedings were discontiaued, with the dis- tinct understanding that the amount of ciroulating notes would not be increased on the securities in the hands of the Comptroller, The travelling and all other expense the special agents for making these investigations. have been as follows, and have been paid by the banks re spectively :— In the case of the Bank of Rochester... . $6000 mv 7 Lockport Bank & TrustCo 54 00 4 Canal Bank, of Lockport.. 52 75 bes “* Lewis Co Bk nation... ... 38 12% ae hes a 4295 eS i Bank of Watertown. 45 94 Total $288 0636 CHAMPLAIN BAN The following oa has teken p!ace since the receding was prepare eon theath ‘dey of May last, the fiat quarterly report was received trom the Champlain Bank, an individual bank established under the laws of this State, and pur- porting to be losated and transacting business in the town of Etlenburgh. Clinton county. The clroulatiog notes delivered to this bank amount to the sum of $55,000, end are wholly secured by 5 per cent stocks of thin state, ‘The correctness of the first quarterly report was veri fied by the oath of H. D. Beach, as attorney for Jar B MacLean, president, and who, so far oe the papers thia Mice show, ie the individual banker. Mr. Beach wi informed that the report could not be accepted, aa the law required that it should be verified by the oath of the president and cashier, and that this could not be done by proxy. On the 13th day of the same month a quarterly report was received, similar in all respects to the other, excepting that it was sworn to in New-York by HD. Beach, attorney in the city of New- York, on the 7th, and by James B MacLean, presivent, in Clinton county, oa the 11th day of May. | The quarterly reporte for August and November were each verided in Hike manner, first by H. D, Beach, in New-York, and subsequently by Mr. MacLexn in Clinton county. i‘ Having eufficient rearons from thine facts, and from information derived from other souroes, to suspeet the correctress of here qua:terly reports. a commission was ineued on the 16th inst, to Birhop Perkins, Req , as ape cial agent, to examive into the matter, and who com- menced the investigation at EllenburgM, on the 25th inst. By bis report, which consists obietly of the w recor Mr. het ay a oath, to ites laeree tories, it appears that he les farmer, residing * ‘4 of Kllenburgh | thet the prinelpal basiness of bie mortgages against the Mar- ~ |