Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-07-08

L $3.50
or tnree murders agreat quantity Of rain, and excesd
ingiy dui times serve to chequer the scene IN that
city.
by reference to the letters Of valued conespon-
dent below, IT seems the New Orleans Banks have
began a make war each other Before the end Of
1887, nearly the whole posse of these corporate ma
chimes throughout the country will be in the condition
of the Kilker cats. They will succeed no doubt in
pulling down the Atchafalaya Bank whose condition
is better than hreefourths of the Others but it will
be the signal for their own destruction. President
Forstall Of the Citizens and Hughes of the Pet Com
mercal are the head of the phalanx against the I'M
offending Atchafalaya.
| From Special Correspondent
| New ORLEANS, goth June 1887.
crisis is at hand Every day brings forth proofs
that we are on the of events far more disastrous
TO the community than the suspension of specie pay
ments For several days past some OF the associated
banks have been throwing discredn on the notes of
the Achafaaya by refusing TO take them on deposte,
or paying their checks in other bills and declining
| TO take them back again. Yesterday all the banks,
uniformly and officially refused tAem and private
holders were selling them for any thing they could
get During the day meeting of the conspiring d.
| rectors was held and the Atchafalaya called upon
| them to continue their usual credit and offered the
curity of Municipal Bonds TO the amount of 200 000
but the only concession made, is understood was
that they would receive their notes in payment OF ma
ure debts only, and not for renewals or on deposite
This is really more an insult than a concession, and
cannot put off the evil day for brief respite. If
this refusal of the banks had been predcated upon any
real knowledge of the others affairs would have
appeared cupable the pal, of the consprers, but
it originated only in miserable petty pique between
the next door ncghbor banks from personal differ
ences between their directors for it is generally be-
cved that the condition Of each bank is SO nearly the
same that the pot has right to call the kettle black
The of it is, that if one goes, and it is almost
impossible it should be otherwise several others must
follow in its wake, and if it is to stop only when it
reaches truly sound institution, it is likely to
the legislature the trouble Of winding them all up.
| June 29h.-Our markets. both for money matters
and produce are merely nominal. The prices quoted
for cotton are like the tickets last years
things placed on the article matter of course
but of no other use but memoranda Of what il was
once worth Our bank directors continue most ami
| cably tacurn and nothing more is known of their
| affairs than the general exhibit made some time
since in more official form. Sugar falling and SO
is rain. Salt and flour are high and like the river,
rising There is continual demand for municipal
| ty small notes for change,-as it IS impossible that
any two can sign sufficient to answer all the de-
mands Of this large community. One hundred and
| fifty dollars worth of small notes, is much two
men can possibly sign and and issue in aday. The
| third municipality have at length complied with the
general wish to utter small bills but 1.-THE First as
tardy as usual.
| JUNE 28 lS37.-Cur money market remains per-
fectly passive. Our citizens earnestly looking
| the banks for an exhibit Of their affars-but none
| have ventured yet except the City The Improve
ment Bank ventured on a balance sheet few weeks
since but confined its publicity - the eyes Of the
stockholders In the directors Of most ofour moned in
stu,ions there has been Of avarcious spectators
whe app opriale all the of the banks to their
| own accommodation and that of their own particular
| friends, while the best OF paper from those who
though known to be wealthy and free from all em-
barrasmcnt were not of their clique has been thrswn
/ out continually These men, though no longer re-
tanning an active share in governing the affairs of the
banks, have yet great an influence left behind
| them that there seems little difference in their past
and present state except their actual presence at the
Board feel pretty well persuaded il was the exer-
ton Of all their interest that nterfercd in the general
| " expressed wish to assemble legislature. They
were not ready for certain exposures that must have
| been made and know their power too well 10
doubt its influence at the state house When the lie.
pslaure does meet be assured some strange affairs
will come TO light.
| UNITED STATES BANK.-The article which we pub
| lishcd on Tuesday from the New York Journal OF
| Commerce in reference TO the reported speedy re.
| sumption Of specie payments by The United States
Bank, it appears is not correct We have ascertained
from correct that at present the Bank has no
such intention Its situation is said to be precisely
thus For every dollar Of It's notes in circulation Il
has equal amount Of specie in its vaults that is
four or five millions.
/ Were The Bank to resume payment before the m ca
is generally adopted, il would be drawn upon bv
every moneyed institution and individual holding its
notes, and the inevitable consequence would De that
in a few days it would have neither circulation nor
specie. Whereas by retaining its five millions of coin.
il possesses basis which TO issue twenty million !
with safety, whenever specie payments become zen
eral. We further learn that efecual measures have
been adopted to prevent a contingency Occurring
which would enable the Executive or Legislative am,
thonty of Pennsylvania to annul its charter. Bali
| Amer.
CouRr or COMMON PLEAS July 7th-Before judge
Irving James Gibson, persHs William Sinclair
This was an action for Islander and se imprison.
ment-damages laid at $4,000
The circumstances originating this action are these
In the month Of January last the ship Anson oil
which the defendant is Capt, was lying AT the foo
of Burng slip. Some person entered the cabin and
H. 49, f~.-~ - ~. ~ -