Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-06-28

interest which than equva-
lent for the exorbiiant demanded BY SPECTATORS
wednesday, juno 26--o p. n.
The revuson prices and banking operations gradually
progressing The Of the banks correcting ITSELF
The system Of "hoding' reached magnitude which is
crushing spectators by xeght AT the Stock Exchange
to-day fair business DONE Prices do not however
show any change yesterday Bank OF Commerce
Improved per Dry Dock receded per cent Vcksburg
1t; stonngtos 1; Bank Of Kentucky rose per cent.
sae of per New York State STOCK to the amount Of
500 0O0 auction this morning at IS per cent
cash. the whole taken by Isaac Carow Esq This sale
indicates the great scarcity Of money which prevails The
appearance specie from Philadelphia, although antci
pated certain quarters caused The posi-
ton Of the banks that their utmost put
QUESTION to sustain the mercantile operations in which they
Immediately interested There Isl therefore, very little
harmony unity among banks ability
pay among those Of the South
In the proceeds of the crop, the Southern institutions,
many of hem the of paying their debts bat have
ey done sol On the contrary, they have retained within
themselves crop which should have been sold order
do borrowed further Of the North by the
post To these notes they depended borrow
ing money England This ha. failed and the pro-
Of the commenced the precursor Of general
downfall Of the holders.
As instance of this vew may take the Of
the Union Bank Florida the direction Col Gamble
great discount in this city and held by merchants
The dealers in Florida could not procure exchange
the North from the Bank but she promised and
draw per COL Gamble should arrive from
England where he negotiate loan That gentleman
arrived in this city about the middle Of pr last having sold
81 his bonds and having left 500 in such train
would probably lead to favorable result On the receipt Of
this in Florida the Union Bank commenced draw
ing and TIE Merchant Bank Of this city redeem
nv
Gamble exhausted In the expectation the
balance the loan from Merchants Bank
redeem the extent Of Of her funds She then
held upand about wich fell due protest
ed The balance ofhe loan having negotiated Eng
land COL Gamble proposes to exchange these protested
notes for u Bank notes having six months allowing
per cent interest for six months that proportion for
the time DUE the face Of the note and the expenses
red by protesBy this operation the Engh loan turned
upon the hands of Mr. Jaudon BY whom may hereafter be
negotiated The other banks Of Florida pay nothing the
icates Southern Lie Trust which was one of the
selling % per discount When these
presented at their counter they redeem them in Union
Bank bills which are the only currency in Florida.
This state Of things at period which the time Of
pension locked forward that which crops would
paid of the debts Of the South and have left them in
condition easily This wond undoubtedly have
the had that crop sent forward and sold the
price, In such the money which now
entirely AFFORDED in holding would have afforded the
ansactng times the of business which
with ease the principle Of the old adage that nimbe
pence is better than a slow shilling" There this time
larger Of specie in the banks tina.
before quite sufficient afford the basis of circulation ample
enough give vigor every branch curse
Of holding hangs all the institutions of the country The
credit the the energies Of the banks each section
Of the country locked up stocks oproduce
descriptions In one quarter group of'peculators cluster
azound quantity Of -four in another pork the magnet
which draws all the capital within its influence another
lead weight which drags down the enterprises Of the
merchant Throughout the South cotton ahsorbs all
iy the money circles together with all borrow
the North Minor specuutons in negroes land horses
bagng Sc occupy the Alteration Of those Of smaller
These operations form multitude Of circles each Of different
interests the sole object Of which to support the prices of
particular article the expense Of the Each i'm
AGNES that the whole country interested amount ey
may obtain sbe would be the case
te transactions from the farmer the
The truth is however that the whole country is groanins
der the oppression and be relieved until prices
len which will carry ruin among holders and
deprive them Of the power Of doing mischief hereafter
sale. at the stock exchange.
Monday, June a.
Deck l0c 10 Am Bk 49, 50 do $780, 25 dc TIA 40 do
49, IS Illinois Blk SSH so do 6i6ods 60 do s5c do S.
do O so do os rs do o.io so do 7oi,so aas do 7oi aas
do o0 so do ois3o las VS. 46c 100 do % $780,
Fire Ins 1910 N Am do 100 9Th 75l-
10 do 75-l5 Mer Ex $50 Canton 3s}cl0 do 3st-s do
ssss-2o do ssablS-lo5 do a7ics6 Harlem soac-46 do
s0cas do 5oscs5o do soiuw-to do ooibnw5 do 6ibso
50 do soi50 do Soi6olso do sole 100 do S0Inwoe co
ooic-lo0 do a9ssoms-c0d do 5ih60-sl Utica laii.
Tuesday, Jane Is.
30 Bank of Commerce i00a309 Del Hudson 70ia7i-2l0
Dry Dock i00-l0 Commercial lO0Io Atlantic BROOKLYN
$50 Mechanic DIX A. s6-I5s " I Bk Co 7ss8O--ii
Orleans City Bk 600 Ohio 4 1910 BIZ 49, 100
Vcksbug 46a47l25 Oh Of Kentucky e7a-24 Jackson In,
Co s0-IO Washington 800 Equitable Ili2o (;outrbu.
tionshr los-l7 Seventeenth Ward 1916 Canton ss3sssi
so Mohawk 60is60i-275 Psersos II 6Oa6i-A73 H.r.
lem 50iao0i-ss stonsngton 2sa2si5 Utica 1880 Long Isl
and 6li
Wednesday, June rs.
155 Blk Of Commerce l0Ic-l00 do I0s3O Is River Bl
$50 do SOLO Dry Dock l0 30ds-50 do IOsc-2O do
l0O}c-55 do lO0c50 do l0ib30-25 do lOllb60-55 Am
ISIS Illinois s6c-I00 do s775 Del Hud. ON 7I,e
72b30-l00 vckburg sso050 do astl5-I0 do 4sc-25 BIZ
Of Kentucky 3D. so Fire Ins Co O9-s York DO lo2-
9Th Ward do $3.50 do 1910 DO 75Inw-Io Mohawk Gle
40 do 6i-ln0 Patterson 81 Sb60I0e DO 6Ib30iO0 Har,
5l25 do 5i125 do 5iis3o-ll2 DO 5lic-50 % 5ls6o5O
DO 5o7n~-50 do 5ic-I0NJ esl-iO0 do 9snw-IO sto.
nngton sl5 % do 2sll0-25 do 2sinw-33 do 2s!c-o
Canton 4os30-i5 do soss.
30 Blk Of Commerce i0ll10o Blk Of York 1870 Phe.
mis- l05-2l Trademark 1850 Dry Dock Olb60-lVO do
l0Oi-lOO d. l00s30l00 do o92 800 IOOi DO So.
80 65 do 10000 de- 49, s30l00 do e9,3025
10 do lO7i-l5 do l07540 Necbancs' Bk Ass s6-.3NY
Bk Co l02y-6 Am Bk 7si-2s do 7slnw-5o do 20 90
40 illinois s725 Del Hudson 72b30-25o do 1iasso-io0
do 72c5e do 7I2e0 do 7225 do " 5000 do 72ib302s
do 7asl050 do fia3ooe do 72th30s0 do 72Ib6o-ss do
7Is30l do 7llc5o DO 7lib330o do 7il3o-l50 do ia
so do n 3ois-25 Ohio l0tlc-20 Ner ExBk lls-l2
do iI7-I0 vclsburg l7ci5 do $3.50 do a6l-lO do a6a
50 BIZ of Kentucky ssic25 do ssio0 do s7aoo0 Leather