Morning herald., 1839-06-15


II will be that have made args alterations in the
rate certain points, particularly Florida and Miss sspp
In the latter State financial bunderng have reached
its zenith and the whole stem Of boterng species
worthless paper by the issue Of another description seems
about falling through The plea last year for the their
famous post notes that the produce Of the crop would
ni'h them with the Of meeting those when they
should fall due. The result has shown that the ae crop
has left them surplus though extraordinary high price,
obtained for it, The post remain unpaid and ex-
change al this moment high Mississippi before,
with prospect Of going still higher The market
which has for last few months ng reached
bighest point and will to the close Of the year. falling
The whole borrowing and cotton bolsterng ytem
explode Fortunately however, the increase OF indebtedness
has been large and the losses sustained Northern dealers
will, in great measure, have been anticipated.
The denouement will lead to the establishment Of matters
hrmer basis. Every species Of property occupies
artificial po,ton arising from the desperation which the
Spectators Of 1886 cling the wreck Of their broken
In 1885, property Of all descriptions price, under the
tension Of bank capital which then engessred The
ten Of credits pursued in relations with Europe
equivalent almost to the introduction Of floating capital Of
England into markets With such increased capital,
prices went naturally, very high And when that capital
withdrawn prices did not generally recede; but Of
vers prosaon Of business holders Of property asked Dom
nay the prices but the capital did exist
sufficient TO helhy transfer of that property. SOON
howevev the foreign debt cleared away banks gem
orally that prices fa before trade could
out restraint acted the false policy OF bolsteng particular
articles until times should round and the article
worth the market the nominal prices which wa. oreby
held One circle Of baak,, the Mississippi Alabama and
Florida banks threw all their cotton The Ar
kansas and other banks discounted only negro spectators.
and the sheriff sales in Msosr and Mississippi when all
other property sacrificed commanded high prices
IL Ohio Indiana and Illinois, pork lead &c. &C have been
held at most erorbitanty high panh account
Throughout western New York and the western state. aour
has been forced the banks Thus regular dealers trade
generally have been le to shin for themselves and the pheuo-
cfhgh prices and the scarcity o money at the same mo-
ment have presented Themselves while the effect Of the new
banking law thus far has been only maintain speculative
prices for real estate Nominal been very high At the
time that commercial balances betweea the NORTH the
south could not be qudated the means banks o
which the merchant depends his pay locked
Ia speculation Before busses. can revive on good foot
Ing hi, forced action esrey The south
pay their debts to bvrew aud regular business be
let to Individual enteprize The inder ef
commercial health will be general fall In prices, until they
come within the capacity Of capital Prices At this
nomnaly average twenty per eent higher than those which
would indicate natural state Of the markets.
Snlcs at the stock Exchange.
Saturday, June 10.
30 Bank or Commerce ioiJ 10 10 Ioic-Is Bk Of Ams,
EXCHANGE ISL 10 Commercial $3.50 State BIZ Of I0e
10 N Am n Bk se5 Am 4 Bk %. % do pstI5 llioe,.
siae Bk ssoo Del od 20 80 7swaeraw 100 do 7snw
2b d. 73 d. "a so do 1880 so Do 13 DO 2s do
.s 503c $50 do 5o 5O % do boln so do
s0,o0 90 5O,6o 10 do 5ol2o Am Marine ns 90 7i-2s
Equitable Fire lis5 Eighth Ward $50 Canton dole 40 do
aoir50 Mohawk 6as3050 Paterson &C. 100 40 s.bso-I5
po.on Prov 1910 Stouurtnn 2s3 30 90 do 90 a. Jo
2ol9o 70 do ase 30 2sc 20 do 29si0 Harlem 53Ic 100