OCR Text |
Show Within five days after the president presi-dent signed the latest currency bill the comptroller of the currency re-. re-. ceived applications for Iho organization organiza-tion of eighteen now banki, with a capital of $2,050,000, all of thorn but two in the Nsw England states, New Five other banks have applied for an increase of $710,000 in their capital stock. In the wwt, the effect of the now bill hat been of an opposite character, char-acter, a number of banks having given notice that they wish to retire their circulation. The totil amount of legal-tender notes deposited to November 1, 1S74, for the withdrawal of circulation uuder the act of June 20, 1S74, baa boen $7,714,550 by fortv -nine banks. Tho advance in gold within a few days is a natural result of the heavy demand in England Eng-land and Germany, and though the law for tho resumption of specie payments in 1Su9 can hardly have begun to operate here, its passage is likely to havo the effect to increase tho upward tendency in the gold market. |