Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-04-29
MoNEY N Ar KET.
01 w--A.v. AvrfI ass p. m.

s.. IN .afa sunday. April 3s-SP. M.
w.u .., v..erd.v was As il usually the On the
La, dav Of the week without any features
m.l s,sness done yesterday the stock exchange frees
40 not to have undergone change since the close OF
Friday. stonington declined per cent. n@
The position Of the banking institutions remains nearly the
same Most of the large Institutions in this city have con-
ON the other of the which they have de-
pended for the of organization The news recently re-
ceyed has now first lifted the veil, and pointed ost the
the arrangements The plan foperatens
under law has been formed on vast SCALE and the
movements necessarily slow The elements are however,
gradually forming themselves int shape, by which abroad oan
daon will laid for the erection ola commercial prosperity
which, il carried to too great height will be more eAdor
ing than any before attained tt
institutions already formed and abost to be So are
all of mammoth decripon The great element OF thar 'or
nation stocks guided by the foreign houses N
tereed in the The most important Oh ns "
situations and those the operations Of which, VIII form 'hs '
of the utility the General Banking Law OF this state are
follows
When filed. By whom Capital capital
Am. Trust July 1888 JDBeers 100000 6oooooOo
Bk ofU s. in 1888 G.Grswold, 100000 100000
New York Bhg Novlsss JDelaheld, 100000 aeooooOo
Company, = 900 ooo
Am Exchange Oct 1888 Natl Weed, 100000 So,ooOooo
Rank Of Com JAM 1885, Prme&Co. 100000 2O00o,OOO
These Institutions it will be observed from their Dates have
been long time in of parturon The difficulties they
have getting under way have various
but mostly the novelty Of the experiment. and the
shynes with which regarded in Europe These, COM
bned with opposition Of certain parties last summer re-
tarded the negotiation Of Mr. Beers in the London market and
frustrated Mr. Weed of the American Exchange Bank
and Of Mr. DelaGed of the New York Banking Company
Since then combined to preface the same
be
old banks the rapid multiplication Of ones weakening the
public confidence in themte state Of the markets-and lastly
the temporary political squa just blown Although these
have apparently laborsd hard the time has not al
together lost Connections the other side have been
formed and negotiations about to be matured which Will
place safe position. The North American Trust and
Banking Company will in all probability become connected
with the that the door is opened through
the agency Of Mr. Cowe The Bank Of Commerce Is partly
owned by house Of Barngs Mr. Bates Boston gentleman
and member ofhat house, being principal stakeholder The
Exchange Bank although unsuccessful in her former
Aegocaon will probably send out another agent with
better prospects OF Mr. Delafelds movements
have recently heard little The position which he Ids in Eu
rope successful negotator Of public securities would war
rant belief that the institution under his control will not be
behind Others The Bank ofhe United States New York
has hitherto remained comparatively quiet from the force OF
circumstances The general Of affairs begun
in the cotton and stock markets. calculated to perfect the
sve operations also retrieve the affairs Of those ns,u
tions which drawing prematue against
stocks thereby mourning protests In this prsdieament
stands American Life and Trust Company The mission Of
s President Mr. Duer who has gone to effect settlement
will without doubt, be crowned with success.
The great object obtained in the creation and multiple
cation Of these Institutions the increase Of bank capital for
the better Of rapidly augmenng business
State stocks basis which the operations Of the banks
are founded they the used to anticipate the ia
ure Of the SOIL order to construct those works
winch are 10 aid Development These securities have
hitherto stood high credit and their ready sale has
tanned balance favor Of this country notwithstanding the
great imports exports The quantity al
ready created very large and they have been offered IN the
ondon and Amsterdam markets such to affect their
price. The which has hitherto attended their negoca
ton and the purposes which their proceeds have been ap
n,ied seems TO great nducement for the augmentation
indebtedness The 80 TO 600 proposed to
he authorised the Of New York. added these the
other states make S0ooo00o Of state stocks which
will shortly offered in the already overlooked London and
Amsterdam markets Al this oPporune moment the estsb
Of branch the house Of Wele Co.. Of Paris in
hi. city, will prove doub beneficial to the community by
opening and ample market for socks-actng like safe
" valve the high pressure felt in the London market It's
vet whether the house will take the shape Of
under law otherwise The operation
however, with regard the sale Of stocks will be the same
Notwithstanding
disposal securities the effect OF large issue cannot
be otherwise than depres their market value While the
price. Of merchandise and articles Of must be
creased by the number OF aborer employed great
tent of public works. by which production will be Diminished
in the same proportion that consumption will be increased This
effect will not be very unlike that created by war
Thu following extract Of letter. dated Philadelphia,
April as:
The President the Norristown Railroad Company, who
la, heavy differences Vicksbsrg and other
stocks il has issued $780, Of Loan certificates,
and 800 shares Of stock upon which he has raised
funds meet them."
This operation Is similar TO that charged upon the Delaware
and Hudson Company for the investigation Of which there
!. now memorial before the Legislature The Presdest
of Company Mr. Wurz has gone up to Albany to meet
IL.
There has arrival at NJ Orleans from Vera Cruz, Of
a34els dollars spcec-of this 1000 dollars
count Of N. York merchants.
Much sensation created in NJ Orleans the Goth inst
by the appearance OF large cotton operator IN the Market
who's. purchases Of 5000 bales
Of per cent on the market raesat the time he is
sued circulars Of nature to raise the prices There
nv aoai with regard the Of his operations
BY some he REPEATED agent OF the IT, - Bankby others
an asest OF Lonson banking house.
We learn from Tallahassee that Me Union Bank had
sneed drawing the North per premium. In the
letter Of correspondent with regard marks the
Southern Lie and Trust Company, he states hst that nu
ton paying specie for her bills In Florida That possibly
behave little If her .ner c,rrn.