Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-04-18

The .,;u.on Of yesterday slight resston mas taken place
i s ,rccs of some descriptions ofsocks that ross 700 ue
d.pv under first mruse Of the news Dry Docs pan.
want down per cent; Del Hudso. per cent Morris Canal
per cent Ohio recsded2s per cent AensckS per
cent vicksbsrg per cent New Jersey per cent
stonington 1 per cent; Canton per cent
TIE sales were chiefly time which indicates the continued
.rcv Of money! Business Of all knds "stranins upon the
but 10 still bound down by the inert disposition shown
BY the hanks by which is high time that some ecen mea
a. in Of execution in order to afford our mer
chants circulating medium wherewith to transact business
the past year has been the power BY which even
the London money rke has been nuenced and which has
,s.a reciuroca influence here. II this point that
The question Of resumption by the United States bank and ne
,osthern banks turned last year. II generally adm'eo M
NE resumption could take place until the proceeds
crop had realized after another year oil economy I'M
por This would undoubtedly have been the case mad the
crop Of last year left at the mercy OF the Engh SPIN
ners This was however, prevented oy 'ne course A
time much ccnsure Of United States Bank being
~ ~ .o,,he m ,nstitutens Those institutions came into
~ ld unre.ervedly and bought unfortunately, much to
The relief of the planters among whom high was the credit
Of be IT Bank that notes Of the old bank were taken
M ~ mo. confidence and avdity in payment for cotton
a. the created and sustained BY these very pur
b,.e The Gotten thus bought Immediately shipped to
where stock the 10th OF July last had accs-
muated to near 900 bales. or this amount
IIumul,revs & Bidde held 10000 Brown Co. 10000
p;i Ryo,h.r. 5bO4O Denaistoun $4,000
Th. large amount Of cotton in hands Of few individuals
was prossedy held for the purpose Of forcing prices still
hcher-a situation Of things which Immediately induced
the part OF the spiane hence arose
and sellers which has even now ermin
ated in favor of latter The naction in the cotton market
continued in the until the close Of the cotton year, the
depending the inability Of banks TO sustain the
and also the belief that the Of 1889 would be
equal to the The houses of Brown Co. and Barring
Brothers were also influenced by his opinion, and sold out
before the the year, and then threw their influence on
the side of the sp.ne with view to deprss prices m order
10 anew both these particulars they were disap-
pouted The singular skill displayed by Mr. Bdde, carried
the banks while natural effects Of the revuson Of
the former year by curasg the OF the planter pro-
short On the ntmaon Of this Fact being carried
ont from here October cotton received its first impulse
and continued to until the close Of the year, much assist
ed BIZ the large which went out from here for manuac
ture goods consequence Of the acihes gwen or the
negotiation Of months bills for exchange by aeque in Wall
who acted agents for London house in the interests
r. M .,nn.rs whose interests thus hwarted bya bsn-
AR f the agents here The holders bank account became
gradually reduced in hsr stock, the prices rose to their
limits The early nmaton this side that the cotton move
-, in proce,, of successful termination added to the
probable anticipation Of another crop by means
of se determined the southern banks to resume ON the
first Of January The result probable not certain
or be involved any misfortune that might overake the south
eru institutions remained fortified within their strength
Tn the mean time the affairs England and the continent
were gradually assuming different aspect The arrangement
Of the paper the continent attended by the failure
of the Bank of Belgium and the Of Lafe
Bank in France and the National Bank Of Austria acsompa
MED by the rise corn causing exchanges turn against En-
GLAND and also to depress prices the continent led the
nucturcrs their attention to pension Of operations
in order to force reduction in the price Of the materials
the more So orders from this side had suddenly ceased BY
reason that clique Wall street had received orders to
sell no exchange except for cash. This the crisis Tor the
cotton MARKET fate Of the banks Al this critical mo-
men sprung up the movement blown into name which
we'll nigh set the Union blaze by the nudcou heat of
The vbir friends Of the clique This great measure
fresh blunder on their part originating the notion that
the first panic all the cotton this side would have been
shipped and the Liverpool market producing sudden
clu and fall in prices The grand result has BEEN however,
signal defeat Of the opposers OF American interests Our
banks are now ON grounds they have sold the crop at even
higher prices the anguine hoped or fact which
is not only Immediately beneficial but establishes the future
credit of the securities sale in London Nothing
main, but honest pay their debts conduct themselves
rrdeny and money for themselves and the merchants
The Illinois canal for 0o000, recently authorized,
viii now ry in the market The Hon. John Reynolds,
and Senator r. NJ Young have been appointed commissioners
Tor its negotiation.
On the OF the State Bank al naooie was
that Il would resume SIXTY days. that time has expired and
vet We do not hear resumption The mc sixty days.
required il was ssted order realize certain
h;h would come to maturity that time These consisted Of
sa7S SIS ia specie exported from New York. S25cooo from
England OF foreign exchanges and cent on FIVE
millions of in all 81 20isSs The operation
Of the Maine may have had influence in rardng the
receipt or these mean.tha having ceased operate she
will doubtless resume.
The Bank Bill recently passed by the Legislature Of Virginia
has been amended with regard to the section requiring the
hanks to eonne their discounts within twice the amount OF
,her c,pa This section has been stricken out, and the bill
TINS relieved OF one Of its od'eus features.
The Fulton declared dividend Of five cent
able On the LIST May.
The Ino. State Bank been selected by Mr. Woodbury.
dcpose bank.
Five dollar note. Usion Bank Of Nashville altered 10
one hundred arc in circulation at Philadelphia
ofnatiye silver worth s3a 0co from the mine Of Ros
we'll King Co. arrived recently at Fayetteville On C)
sales nj the stock Exchange.
10 u Bank il5l-50 Butchers Drov l0si-2o Psenx
oaso Dry Dock lo3slo5o do l02l5odo l0s-l3od do lot
a Leather Bk ll2l5 do llil30 Seventh Ward 1000
Atlantic Bk o62oo Del Hud 1880 do 7s.nw5o do IA
do 77snw-i7o do 7s5o do 7ssio-75 do $3.50 Morris
Canal siS30 do 5llo5 do $40 do 55b3o-l5o Bank OF
Commerce l03-00 ib6ol00 do loss6o- rs do l0s
Is OHIO 1913 Kentucky s750do s7nw-50 do IS 60
ds50 do s1i9o25 vcksburg 63b30-25 do 6ltblol25 do
62blo-l00 do sil-50d do 6lb0-25 do 6itw-lO do 6iw-
5odo eiiso6o do 6itw-e5do 6its-ioo do $500 do
6iib5-3o Maahaaa Fire lOe-52 Long Island oo-s5 Utica
4 do Mohawk 6t9h1-llb