The Sun.
London, England, 1839-04-11 00:00:00

MONEY MARKET, &c., MARCH 13.

But little change is perceptible in the Stock Market,
althougli sales to-day were in some instances at a small im-
provement in prices. The market must be cei,sidered in a
very excited and unsettled state, and is influenced by the
slightest intelligence bearing on the state of matters at the
East; it is to be trustz,d, however, that the present
state of uncertainty ts to the result of the excitement exist.
ing on the frontier may be of short duration, as otherwise
its t Infects on various commerm.l interests must be disas-
trous. The closing quotation for United Sates Bank to
day was 1141 ; Dry Dock Bank, 93 ; Delaware and Hud-
son, 77 ; Vicksburgh 691; Haarlem Railroad, 471;
and Stonington Railroad, 31.

MICHIGAN BANKS. —Tho Michigan State Bank (the
failure of which we have before noticed) was the grand
depository of the funds of the State. The President of
the Instltuticn states that the amount of the balance due
to the State by the Bank is 602,009 dollars, of which
30,093 were a special deposit of worthless wild cat money,
and payable only in funds of the like character.
A Committee of three was appointed by the Legislature
on the 27th ult. to examine the affairs of the batik. They
reported that the bank was an unsafe depository, and re.
commended that the State funds be withdrawn from it as
soon as practicable, and further, that the bank be required
to place to the credit of the State the amount pretended to
be held on special deposit; in good and available funds, and
that upon refusal so to de, that en action be commenced
against it for fraud and embezzlement.
We also learn that the Michigan Bank Commissioners
recommend a repeal of the charter of the Oakland Conoty
Bank on account of the bad management of the institution.
Advices from Tuscaloosa, Alabama, uadcr date cf March
1, state, " that the private banks at Wetunipka and Selma
had suspended specie payment.
" A statement of the conditien of the Wetumpka Trad
ing Company sets down its liabilities at 69,009 dols., assets
259,000 dols., making a difference cf four to one in favour
of the institution. The cash on hand was 10,000 .dols.,
real estate mortgaged 100,000 dols."
We yesterday noticed the suspension of specie payments
for a period of 60 days by the City Bank of Detroit.
By the mail of to-day we learn that a similar course
has been pursued by the Michigan Stare Bank, such a
proceeding being authorised by their charter, without
pain of forfeiture. Neither of these institutions had
ever • attained Much standing or confidence in this
city, and the discount of their notes in circulation
is quite limited. The Directors of the State Bank have
published an official intimation of the suspensian, -from
which we extract the following :—" The cashier of the
bank, now in New York, we arc informed, his made such
negotiations with the funds in his hands, arre.unting to
250,000 dollars, as will enable the bank to take up all its
drafts drawn on New York or Albany, due and coming
due, and leave a surplus fund, that may be drawn for to
meet its bills now in circulation. The public are cau-
tioned against making any sacrifice open the bills of the
bank, as within the period cf sixty days it will be ab!e to
resume the payment of its bills, either in corn or
eastern funds,"

The old..stablished banks at Detroit—viz. the bank of
Michigan and the Farmers' and Mechanics' B.nk, never
stood higher in public confidence, or were in batter condi-
tion than at present. The State Bank, we should add,
was the sole depository of the State fowls.
ANOTHER SUSPENSION.—WC are informed by the last
Western Georgian, of Rome, Georgia, that the Wester n
Bank of Rome again suspeneed specie payments on Friday,
the 15th ult. The Georgian appears to think that its
bills will ultimately be redeemed, and advises holders still
to " bold on," rather than to submit to a sacrifice to get
them off.