Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-04-23
HONEY M a II n r II.
Monday, April 32-6 II. Nh.

- Mr. Cohen agent Of the Bank Of England VINO has mel
collected fuad Of information with regard to tins
oupty and its but alss all the debts due the bank
including the assets the three Vs. The President Of the
New York and Boston Company has out for the
Of leans the agent having failed in the Regota
ton The lands Of Company situated in Cumberland
county, MARYLAND. The Honorable Louis NcLane is also
here probably sent agent to London for the sale
Of stocks authorized by the Legislature of Maryland for the
completion the Ohio and Chesapeake Canal In all there
probably amount Of stocks equal to gone Out
in the great Western for negotiation.
The has wrought, by the nature Of the nteii-
genae she brought great change the views Of most men
of business This change has not been attended win
any actual results of Importance, nor can u be, unh II
shall reached the southern cities, and those nsu'uens
and dealers Influenced particularly by II hal nave M
time for action It's effect here has created commence '
effect will action The proceeds Oh inc co"
and stocks sold in London be applied to the redemption
AZ the northern liabilities Of south, and the equalization
ar EXCHANGES that is disposition well as an ability to
nav must be eynced before banks VIII show mueh oS
position TO weaken their present position VIII DC recoec
ed that the southern banks in the spring oil 1885, when y he
Of their operations they were possessed oil the
Of redes ming certificates instead Of applying their
funds to that purpose they only made them the basis Of fresh
purchases of cotton and fresh issues Of paper course whch
the rate inland exchange the burden of
h;ch was borne by banks and ultimately got out OF
the northern merchants This our banking institutions wish TO
avoid for the future; short paper therefore, as yet all mat
Snds favor with them, and money continues comparatively
tight The supply afforded by the arrival OF strangers from
e country is seasonabe relief to the merchants for their
present liabilities and for the purchase OF sterling exchange
bere is not however sufficient warrant eaerprzes'
AID financial operations dull There has been quite
pause stock market toda the sales have been very
limited extent only Prices have improved In most instances
and were 6rm at close Dry Dock improved per cent;
NO Canal and Banking Co. per cent; Delaware and Hud
son per cents Vicksburg per cent
The rate of sterling exchange did not much today
from the rates we quoted Saturday There has been
large amount shipped today making in all about
% 600 bales sent the arrival Of the Great West
crn but bills drawn not sent by the steamer
on account arriving maturity too seon The State
Bank of this city, which institution has been in the habit Of
redeemn. the notes safety fund bank at per cent dis
o.ut has TODAY refused them This may have been
induced BY the great which coming into the city
There is now probably Of this description Of paper
in the city.
An additional for the caution observed by the old
banks may be found the projected policy Of the new 'nsu
the business which it is endeavoed to conne chiefly
10 the trade Of the country This portion OF business
REQUIRES much less capital than does the import BUSINESS and
. attended with less risk namuch the paper connected
with the business Short and the ef at all times i'm
ed;aev available. On the other hand, the custom Of the
;obber. of this city give IL is month"; credit to
the traders Of the south and vest consequently the appca
lion, for BY this class Of dealers mostly for long
description which must necessarily be limited in amount,
otherwise the circulation Of the banks would be beyond their
co.ro and on of slight revulsion suspension
would be unavoidable II follows then that il the business
thus divided the old banks discount the long paper Of the
;hers while the banks possessed of the immediate
Of as it makers of that paper that the former
a,utons be in the power OF the latter This can
he avoided by obber giving less credit than they have
been in the Of doing turning in their paper to the
l..I.
importers who may make it available with the new banks IN
TIE purchase Of exchange Some such compromise should be
mad, to relieve old institutions, and allow them room for
action.
The mmercal convention session at Charleston,
having under The subject Of direct trade from Europe to
the ports number Of resolutions passed for
e OF this object the substance OF which was
an eshoraon the banks extend all the aid in their
and proper efforts to bring the aid Of foreign
the corporation Of the foreign merchants and capt.
ta, with those OF Southern States the establishment
az lines OF packet ship, between the Southern
mort, and Of Europe and also for the training OF the
youth Of the South habits Of business. The agitation Of
this present tme strikes very nopportune,
and likely be attended with inadequate results The
South at this in very deporable condition her
banking affairs badly conducted that although she fur
p;,he the great sarle which constitutes the basis Of the
foreign of the Unou she cannot keep out Of debt
to the North every few months the exchanges arc in such
ondton that were balance directly foreign the country
voud periodically be bankrupt They also recommend the
regn eaptai,t merchant TO invest in the South and
tb,;.h aoencie, there What nducemeat do they hold
for th. psrpose7 The foreign manufacturer already supplies
IN. South through York and Philadelphia Is he to have
HIGHER prices for changing the routine Of his Business Are
M suhrners FOR goods because they dree1
What Involvement there held out Cor the establishment Of
new lines Of paeket7-when the New York and Philadelphia
,hps already transport merchandise than the country
nav for As the revuon OF 1857 Is evidence Is the pros
vset of less present reghs nucement1 We
ace that The time has not arrived when the South
become direc, importer, will il for many yearsno until
the peduce consumption Of the country far erceeds ts
resnt limits The training up the youth in bscss habits
il very mpora, recommendation and which should by
no means be neglected The great first principle Of living
within the aeom. should be strictly adhered to-
sale. M shc stock Exchange.
O. Bank Ilas Go Phenx 1910 Dry Dock lo6 so do
IOSl SO do 1901 tw-lo Atlantic 9sas Canal BIZ ST.
10 Lafayette Bk Gin el-lo Am Blk 81 boo, % do 90
IS An Er Blk $50 Del Hudson 7s so do 7ei 81 100 do
79l 50 Blk Of Commerce 1884 isj do 1910 Farmers
Io, IS do s0 n do 80 c75 vicksburg lilo Merchants
buv IS do Is do 65i b3075 Parsos 66l clio ar
lem SOL do 90 3S0 do 80 0 rs do SOL 100 DO sol sl5
30 Boston Providence 1850 los 3ojs, 90 do 023
80 Utica laI $500 Canton ~ b.
state Of Trade.
onSay il usually quiet day. The weather. however has
~. Good aud degree Of activity evsc.A
!. The business portions of the city There Is unusually
arre nunber Of vessels in port and regh rather dull
ouafI tx.x -. 80