Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-10-19
M q N X " M A n X 4 II.
FRIDAY OctOher S-R - m

MONEY M A II X II.
Friday, October 1915 p. M.
Wall remains exceedingly quiet and all idea Of
pension banks has vanhed at the Stock Exchange prices
again fell United States Baak opened 7s and closed To-
decline Of 10 per since the beard yesterdy
ng-Delaware Hudson declined per cent-Kenucky psr
cent-Harlem per cent
In sterling exchange there much doing the scarcity Of
nsuey will permit The bulls selling by the banks 81 per
50 SO the sterling taken freely aud fully
object in drawing viz 10 stop the export Of specie We
know of eminent firm who had previously insured $4,000
ship but withdrew it and deposited the amount with
Bank taking bills in preference There there
FORE not the slightest call for SPECIE while the amounts in the
banks daily Increasing zoo arrived New Orleans
9th instant from st. Louis, and destined for this port
Exchange the South merely nominal and may be put
to 20 for all Of that city have been
made 81, Mobile s7t, Baltimore 80 Uneursnt money
stands as follows:
Eastern. Itos Safety Fund, 4 to
Bills or new 5ks, 3to5 Southern, 10 to IS
The directors Of the Yates County and the two Oswero
Banks city sndcavoring make arsoge-
for the redemption OF the bills Of those Banks
The bills Of the Duchess County Bank received par
by the New York Banking Company, IA Wall street. tbs
stated Buffalo paper that articles Of association 6led
for the Union Bank Of Buffalo, which will con.
operations Immediately. salter, President; g. J.
Powers, Cashier.
The bills Of the Washington County Bank, at Calais
(ManeJ no, received at the Suffolk Bank.
The Attorney General of Pennsylvania has sent srear
TO each Of the Philadelphia Banks wherein he that pro-
less Denominations than ~ rDftated mar hJunctaos
been issued BY Vice Chancellor by which the dscousss
maturing United States ank New York held fer
the benefit Of the holders Of post Of the United States
Bank, made pay able in New. York.
The specie which recently drawn from the favor
Of our banks has stated been returned many instances
The eastern banks perfectly quiet, although the mercantile
classes severely pressed The merchants Of Boston held
meeting Tuesday evening when resolved call upon
the banks step forward and furnish relief We UNDER
stand letter. that the banks have ohe
ing aud the afforded by the firm position Of
New York. resolved to discount to the extent Of u eest
their capital, which will be the ex,sn, Of 100000
The effect Of e Philadelphia suspension progressing
south each mail brings Of that have suspended
from;
BANKS Of Philadelphia Baltimore,
Harrisburg, Frederick Maryland,
York, Wilmington, Del.
80 Chahambersburg, Washington,
Gettysburg, Geergetown
Norfolk. R,chaond,
The Of the Philadelphia suspension reached Charleston
the lsh. and meeting held immediately, consisting Of
delegates from the Union Bank State Bank Bank Of South
Carolina Louisville and Chsrsstos Rail Road Bank and The
Planters and Mechanics Bank when Il resolved 10
pend forthwith This wi probably, be the throughout
the south aud We observe the proceeding Of the
meetings Of the southern banks greater degree Of unsssy
and oecsisn in peudns than IN the more northery isss
,ions. At Charleston they unanimousat Riehnsnd
or two Of the banks voted agais, at Washington the
Patriotic bank did with the others 10 susPsndng
Several Of the Bam banks did not feel the necessity Of the
and Philadelphia nine Of the banks the names Of
which gave yesterday, voted decidedly against H. The
New York and banks do mot recognise the
sity the OF the measure. with the
eePtiOn Of Rhode Island, where the banks have shown
most unworthy subserncy to southern orisons but
Of 10 banks vsted against Rhode Island pc
cuay stuased Of the bank loans amounting TO si2oo
COO directly indirectly payable at the south She has,
therefore pursued the mistaken policy Of derresiaag her
currency order the difference. From the vest ~
have heard the effects OF the explosion bat as The
when greatest wealth most available, % po
sble they may 70 through safely All the banks south 81
Philadspha to New Orleans, will doubtless stop New
orlsas. H. however rong, end her position, iike New
York. u SUCH tina, she will form ralyng point Tor the
trade aud healthy currency Of that sseon and the nrss
points OF New orleaas New YORK and Boston viii form
skeleton Of the healthy trade which viii rise out Of the
unlimited credit system which reached in zenith
in isso and has finally perished with The wasted energies Of
m. a.d states bank that thought 20 sustain and regeBe
rateit
In isas there va. regular increase q credit and
throughout the United States fcsered by rapid
AZ name, credits. This business FAR eurun the natural bus
mes. Of the country that H. the soil and manufactures ddscs
furnish produce and actual wealth 70 fast a' he representatives.
AZ wealth increased The consequence that every class o.
dealer. could command money than reqursd
rbs, money not slewsd to remain sought Oh
ct. Of traffic The most general obec, 6red upon real
estate stocks &c almost every class Of society invested more
less real estate Of description which actually worth
netting TIL TO make these investments constitute the
great Of the increase Of bank loans which took place
years, from 1883 to 1897, amounting 10 s2oooooooo
nj miller At the drew the city factor for $4,000 eaeoe
o. ss 10 buy corn and $4,000 invest In water lots n
the south, cotton made the bass q similar operations
Large amounts o bills drawn England BY banks having
funds there and scd dealers Who gave their notes ana