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The following liberal circular has been
issued BY the United States Bank in New
York:


New YoRK, Oct. "a, 1889.


"Sir-- In compliance with the instruc-
tions of the Bank of the United States at
Philadelphia, am directed to notify you,
that the payments of our notes due to their
agency in this city, will be required at ma
turity."


II am farther instructed to inform you,
that from the great desire of the bank to Ell
feet settlement to these claims they VIII
receive from you,in liquidation Of the same.
their post notes, bank bills payable on de-
mand or the capital stock of the Bank at
par. at any time previous 10 the 5th of No
vember next"


When it is recollected that their stock is
now % per cent below par the proposition
must be regarded as highly honorable to
the Philadelphia bank. The effect OF this
circular was to raise the stock Q per cent.
All other stocks in New York have fallen