Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-04-17

HONEY MABARTs
ttA TucsAsy, ApSl n0-o p. i.
The cloud which hung the market has sdseA been "
away and the operations At the Board Of Broker Ps
little Of the spirit Of former times The sales toeay A'
large and at general Improvement ofrom % per cen
s. Bank improved II per cent? Dry Dock ~ per csn.
Hudson 81 per Bank Of Commerce per cent ONO Lis
Trust per cent Kentucky per cent vieksburs u per
cent Harlem II uer cent Boston Providence per cont
New Jersey Railroad u per cent sonngton per cent
Canton Co. per cent The quiet termination oil the me
difficulties has created great change the prospects oil ou'
nes The anticipated OF American securities IRON
London on receipt the there has not been per-
ceived Ne other effect caused in that market than
suspension Of sales without apparent loss Of con-
Science and in all probability the deposition on the part
Of London capitalists invest in securities will soon re-
The southern banks will then be placed in better
situation accommodate the dealers at fair rate OF exchange
than the
We recently mentioned the Of the "Union Bank OF
Florida" in which stated the in which our mer-
chants improperly kept out of their funds or shaps@ out
exorbant per cenage the shape of exchange Since
then have received the following extracts Of letters from
merchants Florida their creditors in this dated
JACKSONVILLE April A. 1889.
ave laboring under much difficulty to procure ex-
change the North. Nearly all the money in circulation
with u.s. of the Union Bank at Tallahassee, for which
procure present. drafts northern ay or
anything else with which we can qudate our hao'es IN
New York"
TALLAHAssE, 18th March
ave have constantly been expecting get from the bank As
to h ha,s Do one cent
that will inform stationer ana heow
ware men that so soon as we can Sc. M nail and
hope shall exchange Tell them however, to draw on
adding sper cent and will pay the amounts the bank VIII
charge but two. Business was never more duli.
Here the difficulty plain the bank by standing adver-
semenl in the Florida Waterman" endeavers so fix the
rate ps cent but H draw stating reason that
she waiting the arrival Of COL Gamble" Well! Col.
Gamble arrived having England disposed Of 81
Florida loan which s2OOO00o; million Of this
taken months since stated in this paper, by
Hoord Branck.r Co. The 100000 has recently been sod
ana the balance Col Gamble in such train
as to leave no negotiation Since the arrival OF that
gentleman has drawn England to the extent of fooO
and ofcertan reasons has sent
orders the Union Bank to her cash payments anu
draw on New York This she must do at therate at which
she adyerc, = per cent In the meantime COL Gamble,
through his brokers, Campbell Whtehouse, IS buying
all the certificates he at cent instead OF sVo
thus taking advantage Of temporary scarcity Of money in
order merchants out Of cent oil their just
debts Public opinion must put ban spon the Florida
institution ifsuch course is persistedin
The cramped Of the New York money market Is the
ground which these operations are planned This great
degree origin the great quantity Of cotton held IN this
on which advances probably to the extent Of one mil
lion dollars been made by banks having storage
receipts the notes Of the holders The advices now
received England would warrant the shipment OF these
stocks but the holders show disposition 10 hold on for still
higher rates. measure which prove nudcous and con-
tnue cramp Market we'll to continue to embarra''
the southern institutions account Of which it mostly held
Its present disposal woud not only create great ease IN the
market place in the Of the southern banks to aie
vate the increasing of inland exchange Time will work
cure in this particular II said that negotiations
4. l.ata ali f,fl hale
equal which TO draw exchange in time for the
sailing next Monday Of the Great Western This will have
great influence on the money make and the price Of
change.
In other ways affairs have taken begins TO show its
influence and speculative movements again rpen-
ing into The Harlem rail road some time since bor-
rowed of John Ward Co. Slsooo0 This firm was in
vavs opposed to Of the Company their
deayor to raise securities Recently, however, the
have raised another loan wherewh to pay that Of
John Co.. and about to extend the road through
Centre the Park when their receipts will doubtless be
much increased by the vast accession Of travel on The road
which will thus form important commencement to the pro-
jeeted York and Albany rail road work that eventually
will be extended Buffalo, two-thrds Of the route beirs al
ready by rail rail road thus formed along the
line of the canals through the popous counties of the State
would be work of importance, compared with which the
New York and Erie project ridiculous the south
en counties require rail roads, should be branches 81 the
main running along the canaa Of which would Be con-
strueted at cost and be Of utility than rail road
over the through the of the
southern counties.
New York Buffalo rail road would bring to New York
the early spring business which delayed until the open
ing of the canals seeks Philadelphia through the earlier nav
cation Of the Pennsylvania canal II is proportion Of this
which turned the heads Of Philadelphia friends
the past few weeks and New York has been inactive during
Tn, influence Of Maine news, which has retarded the southern
trade they have imagined the business Of New York
supplanted. simpletons.
The great spring business Of country, however, yet re-
mains be done There throughout the interior of the eoun.
amo-nts produce awaiting the scon Of the banks
"a he transmitted to its destinations for market The
amount Of produce situated be estimated as follows
Annual productions Of the United States in 1898, 80
Nor on hand
,.o,,or crc, value $50 100000 $4,000 900
d. 80 ~ 100000 100000
-, lOO0OOO 100000
nI..e. K 2soO0OoOo soO0oO0o
Wss,ar.. &C. s7sO000oo s2,o00,oo0
Total. s6l3oooooo sIoo,6oo,ooo
...o.o, os nr,auee Of 500 600 600 retarded