Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-06-27
MONEY MARKET.
"Wednesday. Hume IsS..G II. M.

The revision prices and banking operations gradually
progressing The action the banks correcting ITSELF
The system of shedding" has reached magnitude which is
crushing the spectators by its wegh At the stock Exchange
to-day fair business been done Prices do however,
show material change since yesterday. Bank of Commerce
improved per cea Dry Dock receded per cent Vckbug
II Stoninstol Bank Of Kentucky rose per cent. A
sale Of per New York State stock, the Of
SlGo0O0 made at auction this morning So per cent,
cash. the whole taken by Isaac Carow Esq This sale
Indicates the great scarcity Of money hch prevails The
appearance of specie draft from Philadelphia although antci
pated certain quarters caused uneasn, The posi-
ton Of the banks such that their put
QUESTION to sustain the mercantile operations in which they
Immediately Interested There is, therefore, very little
harmony unity of act among banks ability
ray among those Of the South
In the proceeds Of the crop, the Southern Institutions,
many fthem, had the Of paying their debts but have
they doneso3 On the contrary they have retained within
themselves the crop which should have been Sold order
to do 50 have borrowed further Of the North by the
opos notes To meet these notes they depended borrow
Ing money England This has failed, and the pro-
test Of the notes has commenced the precursor of general
downfall Of the holders
A. Of this view may the movement Of
the Unen Bank Of Florida Of Col Gamble
The instion had ost large OF certificates which
at great discount in this city and held by merchants
The dealers in Florida could procure exchange on
the North from the Bank, but she promised and
draw al cent Col Gamble should
England where he went negsciste loan That gentleman
arrived in this city about the middle last having sold
100000 his bonds and having left such train
aswoud probably lead favorable result On the rec.p, o
this intelligence Florida the Union Bank draw.
ing and tie Merchan Bank Of this city redeem
log the certificates which done until funds provided tv
ColGambe exhausted nthe the
balance Of the loan from Bank connusd
TO redeem to the extent Of 100000 Of her funds She then
ed The balance the loan having failed Eng
land Col Gamble proposes to exchange these protested
notes for U s. Bank having six months 10 run allowing
At per cent interest for SIX months, tat proportion for
the oe DUE paying the face Of the and The expenses in
red by protest BY this operation the Eng loan !. turned
upon the hands Of Mr. Jaudon BY whom NAV hereafter be
negotiated The other banks Of Florida pay nothing the GER
scaes of the Southern Life and Trust va. one Of the
srstto resume selling at 70 per discount When these
presented at her counter, they them in Union
Bank bills, which are the only currency in Florida.
Thi, state Of things Is at period which time or su,
pension looked forward that which the crops id
have paid of the debts Of the South and have t tAem
condition easily. This wond undoubtedly have been
the had that crop been forward and od the mar
ke price In such the money which IS now
entirely absorbed Ia holding would have afforded the mean. OF
ansacng ten times the OF business which now done
with ease the principle Of the old aagc that nmble six
pence better than shilling There At this time
"A 4
before quite suces afford the ha u circulation ample
enough give ,sor branch trade But the curse
holding hang. all the institutions lie country The
credit the the energies Of the banks 10 section
country all locked stocks produce Of different
descriptions In quarter group spectators cluster
around quantity Of aour IN another, pork Is the magnet
which draws all capital within It's influence ia another
lead the weight wseh drsgs down the enterprise. Of tho
merchant Throughout the South cotton ali the vital
y the money circles. together with that can be borrow
the North. Minor speculation. in negroes land hor,es
bag,ne sc occupy The altes,On Of those smaller mcan.
These operations form mutudc Of circles cch # different
interests the sole object Of which support The prices Of
particular article at the expense Of consumers. Ech i'm
agnes the whole country interested IL IL, amount 4 80
may obtain from the above what would i. m c,.
fthe ous direct from the farmer 10 H. eoaus.r
The truth Is however, that the whole couy anin- m
der the oppression, and be relieved until prices have f
len which will carr, ruiu among tc holder. ana
deprive them Of the power q dosg mischief hereafter
Sales ut the stock Exrannxr.
30 Bk Of Commerce IOIl-Oo Ok Of y York 1870 rhc
niS i052 Traeesmass 1880 Dry Dock loIb6e- 100 n,
O0i-00 do l00-3oIOO do o93O-30 10 iO0l 100 do gals
SOS do 10000 do e9ls3ol00 qe.s025 State Bl loe
b. 20 I03j-d Am Bk 7sl-25 do sslnw-So Do sot 60
40 noi, s725 Del Hudson 52b30- 10 TIls3o-l0O
do I2c5s DO 7lis0 10 7225 do Go do 72lb3o-2S
DO 72slo5o do 7l,3oos do 72!h3o 80 10 72bec-sa do
7ia30iOo do 7sc-sO do iii b330O Tls3O-I5O DO ia
80 do a. 3sls-25 Ohio Il 0tSc-2o Aer ExBk iis-ll
10 lilo Vicksburg t7cl5 do $3.50 10 i6i-l0 do 4c1-
80 Bk &C Kentucky ssc25 do ss50 ~ 800 Leather
lll0 Jackson Mar Co 500 Contribgtiouship 1928 "
Am 7oc250 Harlem 5lic50 DO 5il20 6Iss5c 20 do STA
DO 5lb6O-sO ih3300 d. 81 s-Ioo do blt.so
100 5isc-l25 do 5 kclo0 do 1880 20 Boston Proy-
dence l05l-l2O stOuington 2sc-0 27sc-l5 csnon
a0-s0 Long island 52s