Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-11-19

Other liabilities, 2ss3o9 Specie, si,'1o
Total liabilities. S940,O43 Total resources, $9aoo4s
great proportion the paper discounted by the Connect
hanks is payable in New York. They have therefore usu
ally funds here than they find il convenient to draw for
The Balance used for the redemption of their nsss generally
If their notes therefore discount Of per cent the
who brings them here suffers the loss and the bank redeem
iIg them with her surplus funds pockets the gain This has
opened the door abuse and used their
buyug the Of other banks for tie purpose
Of furnishing themselves with circulation after calling
in their notes. In this way the New Haven County Bank
purchased $4,000 at average discount Of per cent in
few months, during the suspension The bank during
the ear kept account with the United States Bank
and purchased, in Boston, bills of exchange Philadelphia to
large amount discount of 21 per and paid for il in
New York funds She made her purchase Of Philadelphia
exchange New York. adcount ofthree per cent and paid
for 1t partly New York funds, and partly other nds and
the whole amount placed to the credit of the New Haven
County Bank By the United Bank
10 the bills Of the late Bank Of the United States which
then paid out by the New Haven County Bank in lieu Of their
notes All these operations dscrdtable although
they do not within pale the law and their present
ingenious method Of supendng specie psymentss
dable 10 their ingenuity than their gritty.
Notwithstanding the difficulties which environ the currency
of the country hear daily Of banks starting under the
newaw, each of which lives few days stops
thereby increasing the dsrus in The public mind and retard
ing that Of confidence banks which would otherwise
accompany the Dcreas in The market arising from
tura The Clinton Bank Of this city preparing
business the 1t January They have al
ready ordered 500 600 Of circulating bills At Buffalo an as
ISOLATION called The Western Agency Bank" has been
eansed, h. g. Spauding President and John r. Lee, Cash
ier This gentleman formerly cashier of The bank Of Buff
ao IL particularly unfortunate that such endeavors should
be made to extend he already supeuoas banking capital
of this state The banks already established with sound
ptal find the greatest difficulty in maintaining themselves
and every ASSOCIATION added to the number that DIM
Guilty. by dividing the specie which the basis
small, that very moderate demand closes them up.
This difficulty has given rise that Of
post notes and certificates Of depos payable future day
b. the security banks which often required
The has induced mapractccs on IN. part of
Of the safety fund Uank which have induced inter
ference Of the chancellor the of the
The securities given by III. banks for their legitimate
ncy daily dprecang and require the Of gre
vigilance the Of the comptroller protect the public
from loss according to he spirit the The
in which most Of the states stand relation
meeting the interest falling their seriously affects
the standing Of all the banks dong h description
of security.
The which have been maturing England during the
past few weeks rapidly approaching crisis deno
Of which few weeks will put in possession BY
that event. should American interests materially suffer
Ploson in the result and as consequence
involve the Of the banks The progress Ct these
events will reach the British Queen but the
Liverpool will alone furnish the effect Of the fsiure
United States Bank on American affairs generally
Sales az the Sleek = Exchange.
$500 Corpc ration bonds $50 shares u. y Bank 30
DIS; 50 do 30 d.. so do 7as iw 50 de 10 d A do
74-25 do Bank Of Commerce. 3d. 30 ds do o. 50 do o.
Is de-; 40 do 9350 do American Ell Bank 1910 do Union
ank e7-iO do Seventh Ward Bank ss-70 Mechanics
Blk 6i4 60 do Gil so o. 30 ds: so do 6 80 ds-
Il do Kentucky Bank 65; Is d. 65 3d25 do Vokbu e.
- do - do Dsl HI IA 70 Js.1
do 65 80 do 62 80 d so do 81 TO- las do 6a tw $50
do so d. 50 do g. b3 IS do 62 50 do oli Is ds-5o
d. Trust 30 50 d.; lis do 39; so do 39k 90 do
ss so de; rs s9a imls0 do Utica and Syracuse 100
40 do Paterson Railroad A50 do stonncton, l5t; do
lSa0 do Mohawk b0i-io0 do Harlem RI, AOl, 50 ds,
100 do Al le5 do Al 100 do an. 10 ds $50 DO Alb
I, n a.. do a 40 d..