Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-07-15
M o n X Y M A IL X X II.
SUNDAY. July l4-6 p. M.

Sunday, July 4 4-6 II. VI.
The arrival of the British Queen expected in Wall street,
with great anxiety checks all disposition to operate and deep.
ems the prevailing gloom. At the Stock Exchange yesterday
small business done but prices showed slight reaction
from the great of the previous day North American Trust
and Banking Co. improved cent Canton Co. per cent
stonngon per cent Harlem per cent Delaware and Had
receded per cent.
The following dividends have been decared:The Triton
Insurance Co. per cent payable 9th inst the Greenwich
Savings Bank cent all Sums less than $780,
and 4per of $500 and upward the American
Life Insurance and Trust Co. per cent payable the 2sh
We learn from Philadelphia that the committee appointed
examine the affairs of the vieksburg Bank, wimake
port Monday, to adjourned meeting
Wall street presents singular Of intelligence with
falling sisasas ~"i rsn e. ths rate q
money increasing failures Becoming and every
qsarter are to be perceived symptoms Of approaching
These facts produce the minds Of dealers undenabe
dread Of the future and ingenuity taxed r upon par
cuar cause as that which produces the evident result
rey of causes therefore, assigned party bias pecunia
~ interest dictate Certain politicians wish ascrbe TO the
Sab Treasury speech Of Mr. Van Barren in Castle ard.
others to the late movement Of the State Bank.
These and other which assigned are
faaciovs The position in which now placed has not
grown out of speech within the week. nor OF any other
occurrence Of recent date but had its origin in the Of
AID the snkfu and mprovdent of some
OF the leading merchants and most Of the banks the
country everssce Th management brought forward varie.
y OF elements each Of which powerfully producing the
present arrangement in the money market Let us
them.
Last spring western banks made large loan, TO dealers in
produce, who were unskul enough attempt monopoly at
high prices The notes thus ued in the course Of trade
found their 10 New York. and held here without
the means OF redemption absorbing the city capital taking
from the banks the ability Of assisting the merchants Nearly
S25oOOOo OF these held here At the south the
same system has been pursued using New York capital
Tor the benefit Of the produce Of Dealers equal probably to
Saoo0soo In cer6cac post notes. &c. The general govern
meni are also borrowers Of hanks in the shape Of
notes. pledged not to be thrown into general circulation The
amount Of these outtandng at the latest returns inst,
was near large portion OF which amount probably
Ao0osoo held chiefly by the banks Of this city and few
other states Investments through they
shall not be circulated in order stand way the
In other operations may wish in the
market The Manhattan Bank holder Of these note, to the
Or $5oooso the Mechanics Bank and the bal
BY others Of the like Institutions We then have III. state
in the market competitors with the merchant.
for bank facilities large absorbed in these stocks,
probably $e,ooc,ooo TO slo0oo,0o0.
In the foreigs markets also there large amount Of COR
poraton stocks and produce held by the power Of the banks
estimated at Ssoooooo cotton Liverpool 100000
in stocks at London.
foreign and domestic into atabuar FORM have the following
result
Notes Of Western Banks in this city SasO0oO
Southern certificates, post notes, &c. bOo0OO0
Treasury notes held, AO0OOoO
State stocks held loOoOO 0O
Merchandise and stocks the foreign markets 100000
Total absorbed or inactive capital s325ooooo
The actual will far exceed these e,imaes but taking
figures have Of nearly thirty mil
lions Of dead capital which falls immediately upon New York
the great commercial OF the Union which IL beco
Ing also the centre Of the commercial world Each Of An.
items which compose this has had It's origin in different
causes political financial and and all OF which
grown Of ignorance knavey and graspng avace in m,r
chants 6aaneiers brokers' and politicians Let Us anay,e
them.
Of contention between violent political opponents, Each party
both whig and administration have erered them.e,
TO destroy trade in order TO aid their political views. The
banks, unrestraned BY acontrong power have empov o
TO present profit than 10 permanent
They haye therefore, specuated upon the few Al tho
Of the many in order TO enrich themselves Al sbe
general suspension instead Of cutang their b.p, and nav
ing Their debts All the Southern Banks many Of the western
issued and sed the money they in ne p,es.
lauons This course also pursued BY some mi.
city whs aedin 1896 settling their affairs, They obained
~ or IS months time they then collected some Of their south
ern debts aud with the proceeds cash goods
sen ana resod Them to their southern credit In
the hope that brighter times would round and they would
come out with large profits This expectation they have failed
70 reare They cannot collect at the South and numbers