Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-05-13

sunday, May 1872. N.


Wall street yesterday again s.der the the nnassc o.
gloomy feelings The banks willing to discount al s"oa
business paper, but Of this there very little TO DC nae,
the paper offered for discount and rejected hat which
way with real estate, description oil wAch
the banks are extremely cautious The Stock market
depresed-but little done, and the prices showed
general the Of Friday Delaware and Hudson
per eeat-Bk Of Kentucky cent-Canton per
cent-Mohawk per cent-Harlaem 1t per cent The fall in
stocks which taken place the arrival Of the Liverpool
has caused measure BY the prospects OF the cot
ton the supposed influence which the fall IN prices
of that staple will the standing Of the American cu
rites the English Market in which securities the banking
interest country concerned to greater
less extent.
evidence Of the great importance which the character
stocks banks and the gsaeray
will instance the Of the American Life Trust Co..
the stock of which company fell in the first six weeks Of the
from l22 obeow par their having
against the anticipated sales of American Stocks
in the London market There nothing in the transaction
which strictly speaking derogato the credit of the
institution The difficulty being too sangune under the
temporary buoyancy which felt in the financial circles
during the closing month Of 1885, and but for the change in
the face Of affairs which presented the London markets
during the first month Of the present year, the movement
woad have been attended unpleasant consequences To
retrieve the difficulties caused the return of the drat will
be recoIecd Mr. John Dus the President Of the Company
went London Since his residence there understand he
has been highly successful in his negotiations Ne has with
him. il said large Of Kentucky stocks the rePuta
ton of which high England those of any State
in the Union great quantity both Of these and Of the
Tennessee stocks held in the manufacturing districts
securities for loans.
In the manufacturing districts the character Of stocks.
and the advantages be derived from their ntrodae
ton ieo England, perfectly we'll understood There
class Of dealers however. whose interests It is to
undermine the standing Of the securities and to discourage
investments in them to the greatest possible extent num-
Der of the leading papers taken part with this interest
and have labored to pursuade the British public that it
better spend money the continental than to apply
to the production than equivalent from the soil Of
the United This has only had the effect Of causing
capitalists to enquire closely into the nature Of the oans
and confidence increases them according tbs progress
investigation In the present stage Of the business singh
y necessary the ready sale Of the stocks that they should
come before the public through the hands Of wknown
New York house, the standing Of which will be guarantee Of
tho genuineness and also Of - raymen
Of the Some Of the and southern States have
undertaken send their agentperons comparatively
in the London market They therefore, unable
succeed the negotiations and the fact of such failure
has been handle of to iuure the standing Of all the
State stocks.
The only which have effect the rspu
ation Of these securities would be that Of the
oes between the countries To the boundary
Manchester Market and the Liverpool cotton trade Thus
the United States annually import from England much
larger amount than they export even at the present day.
and is according the which possess Of lqu
dating difference that the increases In 1885,
the reached the Of 500 900 600
any serious demand for specie took place This large
could only have been maintained long, under the
Of open credits then conducted between several Of the
Leading London firms and the United States That system
checked by the sudden action Of the Bank
that sales Of American state stocks have mach ncreas
ed in extent and through their agency mach greater balance
Of trade can be maintained between the
with less danger is in this that the who
hold large Of these stocks encourage their
in Eng proporonably affected by possibility
rupture This threatening aspect Of affairs having ceased
there little doubt but that the stock sales will again be
active and the Of Morris Robinson Esq., far as ak
tends 10 the Of stock will be successful bat the stock
Of the An Exchange Bk that Of any other mere banking
Institution under the law find hut little favour
bank convention held Auburn during week
April, and committee appointed 10 negotiate with the New
York city banks order keep currency The safety uad
banks New York in their present available condition
The following ssntlemea designated such committed
VIM NJ Oliver Penn IAN; J. H. Beach, Of Auburn; VIM
b. wees OF Utica; John Mages, Of Bath c. A. Cook Of
neya and Lewellyn Jones' Of Oswego The committee
understand will meet New York 18th Of May We
also understand that resolution passed the
ton inviting banks established under the general bank
,r law 20 meet them order that Be
into placing the Of those banks the
footing with the safety fund basks.
The bills Of the Washington County aud St. Crox Banks
again recsived at the Suffolk Bank, Boston.
The following statement Of the Bank Of Augusta (Geo)
on the 10th April $780, compared with the period last