Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-06-13

Tuesday, Juno 13.
we had HOOD Of arrivals yesterday bringing us dates from
honoon GOWN ne ioh ail' and Liverpool The
revusion begins 10 develope in England and also in
Scotland in spite Of Sawney'so lannon's b.oLng sv.s,n
Failures recorded by name, in the English M
pers, in all the large manufacturing and commercial
There appears be excitement there against such pubca
ton the arrogant spectators get up here The
turing system feeling the revulsion as the coton or
Americana trade Indeed the whole frame of industry il
the has been doing here for the last three
months Yet singular relate plenty in England
This s however, attributed the additional issues money
by the Bank of England in of the flood u s.
Bank Morris bonds other American secu
rites They complain sadly England of the want remtan-
ces IN specie from this country.
The accounts from this side reached the beginning of May
The succeeding arrivals would probably them
OF our worst accounts closing with the suspension of specie
ments therefore, may in New York. the
very bottom OF the awful of things At the last
accounts the American houses in London still standing
at least we have not heard of their fall.
On the whole the aggregate from England are as
good could be expected They might have been worse
unoer TINS state Of things the stock market Wall
yesterday was rather steady and rising Many believe that
whether we have seen the worst stocks 90
Capitalists finding no employment for money commercial
securities begin to inquire after stocks Rail fancy
stocks are the greatest favoe Bank stocks excepting the
United States Bank, which firm in very epute
Is believed that the banks generally will lose third their
assets These assets in commercial paper generally the
representatives of transactions old prices previous to the
revulson fall of per cent in prices accordingly
makes sad havoc in bant They almost
mortgages in fancy real estate.
In all the large Cities except New York. pub
fishing satementsbu very little confidence placed in these
publications.
Failures, evulson and changes taking place in the
walks Of commerce. appears that Edward Bdde sepa.
rated from the house OF Bddle Co. of Philadelphia
quence of some bad operations post secu
ties The old house of Thomas Bdde Co., with this looping
off, still continues good, steady sterling ever We
glad hear of it. The which operators in
stocks have made during the last months awful
One Of the greatest evils of the present crisis
ucon OF the exchanges consequence Of the wind
ing upof the United States bank Even this spite of
the suspension law and te ridiculous arrangements TO
have been made between the city and country banks the inter-
nal exchanges are utterly destroyed We will state fact
merchant in Auburn merchant in New York. The
former cannot buy draft New York Auburn, he
sends his creditor here check for the
bank This check-or draft cannot be cashed any
count with any security. The Of things exists
between New York and the southern and states
Here, therefore, is the great evil of the day.
In respect the destruction internal exchanges ia
evil than the arrangement of the whole trade
Phe amount of the internal exchanges the year 1886
estimates the foreign exchanges
Since the beginning of year and
hathe whole oexchange not reach
500 900 00o If much 5Oeven This sudden and
reduction of species Of the currency enough break and
destroy the spirit and energy commercial people for an noe
In the present state of ruin few here and there eneavo
ing TO remedy this state Of things renting produce in paw
mento of debts from pontto point Of the country But this device
can only meet the evil with Partially.
During the last ten years existence of United States
Bank under the managementof Mr. Bdde system of
ternal exchanges the scientific and admirable that
any country experienced Since expiration Of thar
charter and the assumptions the by the State
Banks, the whsle system has in less than year exploaed
evaporaed-and gone wreck. viii not experience no nor
med u teach foos Can we have stronger argument in
faypr pfa Aat,1n n~.i2
establishment would, in year. order the whole
commerce ofthe nation. oh Congress Of blochh..a
would be taught by experienced!
GENERAL MARKETS
New YORK. June H. r. M-Business today has been very
qulet-nong at auction We have dates from Liverpool Of the
18th of May, and London OF the 10Th The cotton market was
very much depressed and had declined from toA
Flouras improved-saes Western 90 rs s0 and NJ
New York at s925 $3.50 Fair inquiry article has In
ken place No sales of southernnot the market
Auction saes-62 kegs tamarnds &c.; brls at II &C.
cash.
Receipts Of produce-2s barrels -four, 10 do provisions is
do. ashes
Nav ORLEANS, June r M-sales Of cotton this day were
26s bales Louisiana and Mobile, l2lc sugar-Princ &C.,
sa ses S s w psr 1S
panison 70 &c sales Bseoniism, ioc per ~ can
ss ted ,a "a, 40 La. g o SALES Beef M sia
fine $40 5000 fine $50 per- ep III % ss $40
green lol lei mdding loa oici Rio 10 i2c Java ISL
s. &c crossed do s .ass pf s iS,epd Do
coarse ~ 10 50; fine 81 81 per Sack sa Turks I
land per bushe 80 33c do. 10. Cottono Iv
e.rpool VI per hi Hawe Lei New York &C. Tobacco-To
$3.50. "' ~ "'"'
AUGUSTA, June T. r. Nc oon-On Tburs,lay and r,,d,
last there good demand d orders I'm, since
that time The market has been dull and only pnrs bases nov
making by merchants and inieiea M The nob
for the purpose OF making refnsnceS The article has bee
selling II to GEOGRAPHICALLY si. sceciions old
readily bring loc 1.-THE present Time bu a. there none o9
description Offering We viii quote the article from 10 Ole
Limited demand. " IT,
- . Sa.esot tk New York Steel Erclnnee. Jane IL
800 ". n bank. los loI 80 Atlantic Ia - feo. "a,
~ Bank of America, 90 25 Mutual Ins NJ -" ''i
IS Atlantic Brooklyn,7 rs 100 Mohawk Railrnad m -oi
~ Ttate, ~ -. % Harlem Railroad 52l n 50
~ ~ Trust 20 ioo 2l5 Boston and Prov Railroad
700 Del and Hudson, 70a ~ goag7a
25 Farn~rs' Trust, 90 N Boston ana wor.,..a. m
6l American Life and Trust, H. as -
~ . 81 Utica 1851
10 limos, ~ Is Canton, 20 n Is