Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-11-20

STATEMENT 81 The FRANKFORT BANK MAINE, tie 9Th
Of November, compared with the return of Jan liss
Nov.5 1889. Jan. 1888. Decrease. Increase
Specie s,osi ' sass 0' 80.
S Is:s;s.' Egg l a;sss i isss
This shows strained condition OF the amount do. III, sf
folk Bank. $4,000 in the bills Of the bank which the
Suffolk has collected and sudden demand from that iustu
ton for specie would it obvious them up as they have
but little $4,000 in specie .NMA
s'tated, in New Orleans paper, that the Texas Loan for
So" ooV per cent redeemabe in thirty years. has
nero'iatedn London. This incorect-the loan has not
been made but amount of money ha, been an
pledge Of the stock The capitalists Of England will not take
the loan until the independence Of Texas
~ that which with strong op-
position from popular leaders, slavery qres
ton The recognition by France is said have effected
but it not yet officially promulgated Texas however, viii
probably succeed
The improvement in the market incident upon the pro-
gress Of affairs The effect OF the philadelphia suspension
and the 6rmness Of the New York banks have changed the
current Of both financial and ommerca affairs Those
Trajectory and Facilitating which have marked the
course Of events during the year. the force
Of the New York policy and all the elements OF
prosperity setting towards her with irresistible power
The result precisely that which we urged upon The pul
inevitably attending Of honesty time when the
SPECTATORS and bankrupt merchants camorous for .
pension and their organs the Wall press dumb on
the subject The severity Of the commercial in h,
city has passed. The merchants for few weeks undoubtedly
had pay large money to meet their bills bst
engagements have been entered into the de,nS
formoney therefore gradually diminished while the recent
of funds from country has enabled to do more The
greater in the stock market aud rie In
prices.
This rise H. however, fancy stocks chiefly which elias,
be placed the u AID 0rard Banks OF
n~sl L.. l...-
their available The the of
the U. Bank subject OF great public interest. Tn.
Hinissurs Pa Reporter states that return Of its monthly
transactons was made to the auditor general Thurda
probably prepared and England BY the Great Yves,
tern FOR eject but u like the meagre returns re-
Gently mass public oy the Grard Bank Il will bear slit.
ing The institution is required by law to make her
monthly, but has none for wear In ths, lin
the whole character Of her undergone chance
AT that time cotton rising and All
kinds readily convertible. Early the year. the Gales fell of
while the liabilities Of the bank increased New purchases
State stocks then made on Cor post notes and
all hurried m ward fresh Tor new loan, there r.
In which these loans have has beer .ue,
with disaster TO the States which them The Mch,. Loan .
instance OF th stock to the Of 600 Al ur Ct
created for the furhsrancs ofhe State This
stock designed be London but wss taken h, ,h
McrrsCsna Co,of Jersey commission Of ~ per cent, AMI
TO act the agent ofthe State paying the interest All hat
has ever been received BY the State 100000 which has
cost State follows:
Commissions to Morris Canal, ARA ooo
Loss ofin,erest IN instruments per contract, $500
81 days additional credit, IS7s0
Lo.sy.A. STATE sasi, ts~.,wou,iasl $4,000 $1,000
sac ase
Here loss Of a - per cent on the small amount a.
ready received by the State.
The length time which elapsed before any other n.mp,
received caused the commissioner come to thi. civic
lsok after the balance OF the stock In mean time the Ar
fairs OF the Morris Canal and the United BanA had be-
good deal mixed up and the remaining had
ben made 10 the United States Bank som. mutual set
Element The commissioner called the Morris Canal and
wished TO have the sock returned IL no negotiation. could
made They could not find the STOCK referred the com.
missioner TO the United States Bank Of Phas.ob "a, am
piled to that inai,on and over IN the United
sates Bank IN New York. who said of their power
to say where the stock but they thought the PHILADELPHIA
astitoon must have IL somewhere The commissioner wa,
preparing to make another application named bank
when the Great West arrived and tie letter London
sponden Of the New York Herald contained notice that
Mr. Jaudon had succeeded obtaining lean for the United
states Bank pledge o. Mississippi Pennsy and Mch
gan stock This the first received BY the com
missioner Of what rad become OF the stock question: The
Usted States Bank had got possession of H. suspended specie
payments here and pledged to raise money to meet foreign
liabilities.
wealth any in Union, having sWrpu, product Of
ss 600 had incurred teb of 50 100000 10 compile her
Improvement and through the mismansgemen Of her cer.
Ind the chicasery Morris Canal and Vi. tied state, Bank
I'd her dspo bank, The state Bank of Michigan which
stopped payment has got but 100000 Cor the whole
nosn her works stopped the money expended or lost and
complete political revolution effected in the state What
feet the new legislature may have OF the stock
hus hyposhea'ed for the debts Of the Pennsylvania bank
mains 10 be seen.
The whole operation evinces the fact difficulties OF
he country at large arise from financial mmanagement
and not from an unheshy trade The financial centre ar
ie'ay created IN Philadelphia apart from the great natural
centre Of trade which is New York, longer be
'an'aned The monetary and commercial current. are
sitting 90 strongly upon New York, that all opposition will he
arr'ed down This Is apparent the OF
pese than In any other feature Of the markets. Previous 10
he suspsnsion the greatest accumulation Of specie the
su Of the United States Bsnh she having nearly per
All in the United States When the revuon too. place.
nd specie began 70 Europe, u went from New YORK. and
Immediate pressure be upon the banks Of this city they
IA ne