The herald., 1837-05-10

The Josephs solicited earnestly the continued bu-
siness of Barrett II Co., and that Of all other solvent
good houses up to 18th February last. They
horized the Barrett & Co. to draw on them xniimi-
teliy The running account between the two houses
vibrated from to ten hundred thousand dollars
AT the time Of the stoppage, the balance due the Jo
sephs was s765OO0
Deduct amount rsmed them
Tor the purpose of paying their
drafts, and not appropriated 10
that use, about S79OUO
Bank stocks in the hands Of
Josephs belonging TO b. d Co. l43,500--222,5 500
Balance due Jo.ephs s54l,OOo
The Josephs responsibilities which they
call nominal endorsers on French aRd
sterling exchange RENTED the Us at dn-
ferent times the fate Of which is uH-
known, 1912, 600
S753 00O
b. 4 Co. proposed to the Us to place the 1922 500
in the hands Of third party-they agreeing to retire
their names from all their paper. The J.s have made
| no definite answer B. * Co. accHse them of bad
faith The suppressed passage in the letter instruct
ed the Us to sell the stocks above named.
| THE JosEPHs.-So far one of the houses in this
city spoken of by the Newly ork Herald is concerned
we arc told that its liabilities TO the yosephs do moi
exceed $780, 600 After II had suspended proposition
was made by this concern to the New York bankers
i to place in the hands of third party all the cash
advances and stock securities then in their possession
amounting TO over $500 000-the condition being
that the Joscphs would be retired from all the
| paper Of that house on which they were. They gave
no definite answer 10 this prsposa-and so the rn at
| ter rests Meantime a large amount of drafts upon
the Josephs, and which they asserted, they needed
the moneys in their hands TO protect has come back
upon the house, and has tesn pail In rela to III,
other houses mentioned in The article from the He
raid, We know notaing.-I True Am.
| MONEY MARKEr-CITy isrELLIGEscE = Tuesday,
| 2o'ciock, "A MA considerable sir existed ycster-
day among the City Banks, in consequences of dis
position the part Of the Shylocks Of the day 10
seize upos the treasure Tor which their notes call
cd. The redemption Of paper goes on with various
degrees of brsknese at the various banks As yet all
is safe and sound and would all continue, il the
money pe,cers would remain firm and united IL s as
evident noon day, that the entire want Of conf.
dence now stalking abroad, of their own creation
Hsw utterly Intellectual are these chartered bodies "a
answer the ends for which they were made! Bad as
the old United States Pank was II never did half the
harm that the hest of State Institutions that now
start up at almost every point throughout the coun-
/ try. But regret is useless Why will not our City
Banks unite1 The public interests own nte-
/ rests demand it, Let them in one unbroken phalanx 4
Join and march forth conquering and to conquer. The
die is not yet cast They have the box in their hand
and ere they throw let them be prepared.
| Some talk Of suspension. What!-declare to the
world your inability TO redeem your promises Ger
| tain ruin will be the consequence. Better pay and
continue to pay till every dollar be sheed ui-whai
more can be done7 You are nj least on the safe side
| you have the public with vou. But TO defy the
rights of the psopcto shield yourself behind the i'm
potent provisions of an article or two in your charter
is to work your own destruction II there be Di-
rector in the city who wouc not sooner lose his right
arm than advocate suspension from any motive what.
ever, he is unfit for the station which he occupies We
would rather every bank struck out Of existence
than to see them enter upon suicidal policy. No.
we have gone thus far unfnchingy-let us pcrscverc
to the end Bat lei the banks unite and relieve the
frtls business men,
note Of encouragement is heard from abroad in