Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-10-30

MONHY MARK EFT.
Sunday, Oct. 20, 8 r. NJ.
The ehsrgy in the stock market is increasing every day
The OF stock transactions for month tise not
equal single days business in 1885, This singular naotv
~ in alone in New York; textends through
ont every city the Union Europe latest arrivals
the same ehargy prevails the London and Paris stock mar
Specuat the rise and fail stocks nearly at an
for present. all ever the world The only transactions
o which take the shape of investments, or
der ,se form Of currency pay debts with Stocks OF all
kng-goed sockshave always been less used for
tie debts between individuals and so far as
This takes place stocks state corporaten assume the uAc.
tons of curreHcy.
In The money there great peniuness, but demand
for commercial purposes Capitalists extremely cautious,
and no haz risks taken There is little confidence
betwesn and Every species OF transaction is
csmiag back system short credit The banks
themselves cautious capitalists end dis
are made except on the best paper.
On Wednesday last will be recoiecied we, of
the New York press gave full and particular accouSt of
yea important monetary connected with the
lion The banks On this subject, the Albany Argus of Saur
day has the following remarks:-
MONEY MARKEr-srArE LoAN.-It win be recolectea that
millions Of per cent? stock he N York cy banks
the Commissioners Of the Canal Fund in May last, which ar
sails banks acceded in consequence of the
lion for loan stock renewed agreements
made Tor oanng 10 several of The banks the principal
ers considerable Of the original having
ntPrm between The Nav
ime in exchange for the state stock Of 1897 and about
half million having BE- en- otherwise di'posedoC
The issued to the banks the follow conditions
M Each bank is to apply the stock solely for the OF
md 10 pay the amount specie specie funds as il shall
required for the construction of the Gsneee Valley
4h TO pay the commissioners s2oo insPecie enable
s pay s M saa s'ae debt for the st
5 To pay in specie The interest quarterly the stock is
stipulat taken
by the banks al specie to the osals of May
on this we refer So an Ie , under nd
this lcan and the probable effect of this and other
Utica affect the monsary affairs of the city unfa
& OF me {" he
the sautay ul!s Of the various which
monetary as Of pS language the
article 70 which we aludr .he elements Of returning conf
state government The are all uniting their
Efforts may rsiard these favorable for lew
doubt will be accompanied comparatively early day ny
to specie nis The part of great ton
ofthe banks throughout the Union.
afraid that the party efforts" preventa
the banking system will be confined altogether the "sp
position game" The OF the real estate New York
united with the mercantile and manufacturing Interests
Tired and disguised with tie banking system which,
val the deposte has been ssed altogether
shaving and speculative purposes The special friends the
Argus deep those specuIaons, and form party TO
the intrigue which outraged all mera and the seve.
raj laws Of the last legislature The present banking
TEN the all troubles We must
thorough renovation Of the system Has the "Argus any
objection.
On this subject find remarkable coincidence in Paris
Laate the great banker has established bank capital
OF which is Invested in guarantee securities which
en degree public stocks, mortgages the opera.
being principally conducted onits credit The following
IS from the London Times OF the 29,h ull:-
considerable sensation has been excited in France by the
propes SO 10 be called the head Of which and the author
Of the project the welknown banker and former Minister
The capital Of Lait,e bank is Professionally fixed
increase TO Se ne or hi, capital L
fe r'utes m'eli 100000 francs Or nearly $500 600
oagnaraniec It's intended functions may be thus de.c bed
The discount Of wehnown co miner 'l,sr. with two zig
urom perhap) subject to stamp suy, bills Of retail
six months after date negocasn OF values upon dc
panens and Of foreign stills me purchase and sale by
countries OF public funds and shares in public companies
will operate the recovery Of payments ants from ns
OF payments from the Bank e France The Bank Latte
1 nor s..s nSfs m 1 or BANK 81
the intention sto issue bank bills for - francs and
or Que days sight which 10 fac, will correspond
WITH s e..s :. srs bronx n P. s
system 10 be the opening current With allowance
rraaS.e, which allows no interest crdi q these
estimated TO average more than NecooooI The
discount interft added
regulated according The appreciation or the rsk and the
LENGTH Of credit The capital Of 100000 Is divided sto
$4,000 shares 5OO0f 5000 shares OF 1906 Upon the
lass sares pay down onen only, but for
the remainder give security payment case OF needs the
subcribers o0of shares the whole down al once
Thus although capital nounaly 55esocoo the effective
IN capital consists fact OF than $4,000 00ol
600 OS0 he the capital being however
by valid ant available guarantee securities constitutes spe
es ~ ,lsty fund of be cal
led M when from extension Of business, beneficial employ
msnt he found forit
The prnciple Is proceeded upon, that bank ought, In
great measure upon the strength Of its credit
er efrzying Of to make adequate
returns OF interest upon capital the parties ocised
large portion csptsl of the Bank Of France mmoya
public funds that of the Bank Of England
i len, To- but NJ Lafc considers that calling all
he his bank and employing the necessarily
live norton Of Il in this way would only deranre
ihe circulation by useless displacement OF uRds.
Sales at the stock Exchange.
ocroBxs 20, l2M
"a n = Hank e ilBs 20 do II
- Del IIud 4od "a 50 Bos, SProv. lol