Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-04-20


K.ntuekv Dor cent; visksbsry per cent some other IN
stances an advance percepbe rheniI Bank improved
Der cents National Bank Il per cent Leather DaaK pr
cent; Bank per cent? Illinois per cent ousA
per cent
This the result Of going too fastn and pushing matters
100 closely under the flush Of favorable news an error
hh is very common in Wall street. and which expert
ace does not teach operaors avoid This fact also Illus
&ra,ea in the proposed etg Of certain Offices in Wall street,
which were offered today, but for which no bids we're made
There are number Of institutions private individuals and
brokers interested in real estate who Invariably endeavor 70
raise rents initiate the prices Of landed property the mo"en
he money market is little relieved. The operations Of these
enemen about the latter part Of january tended greatly 10
raise for the ensuing year. But the Dry Dock BANK
taking advantage Of the nonentay excitement 1t Will be re-
eubered oeped their banking house at auction limited al
eXorbant price, BY thus pushing the market beyons "ha
al voad bear the defeated ITSELF and reaction en-
which again depressed real estate since when mas oen
inactive. to be hoped that premature movement may
again. by its failure damp public confidence, which
il ever affected by the slightest Of pressure
There another circumstance which weighs heavily on imam
ea matters and tends reard equalization Of the cur
re~cy This we recently alluded to in the of the
Union Of Florida which bank refuses to resume specie
payments draw upon tie norh although amply able SO TO
do other banks in the south which have resumed
ecie payments pursue such course IN regard TO their
exchange operations as Dealers rather than submit to
they raise hue and cry they had been wronged The
following Of letter from Charleston, will explain the
difficulties arising from such course-
CHARLESTON, April Ia, 1899.
Exchange still Ii per cent premium for checks on New
York sight, Bat what effect the from Liverpool via
Philadelphia per Monongahe have cotton market
and exchange s.s.0 o Say es chareou Bari
Of the banks refusing to furnish them with drafts
at the above enormous premium which .ey were Ws
selling time freely their neghbor in Pearl street
the time understood that the bank had large
The following is an extract the minutes Of the Board
declared and hung mp IN the Bsns:- 49,
Resolved That mercantile house in this city has publicly
declared their intentions of drawing large sums oil specie IRON
the Bank, and have already commences operations y,
Resolved That there strong reasons to believe that y
are acting WITH the agents Of mon
led faction New York. the aim and object Of which Is to
cripple the rising prosperity Of city oy we directed oo"
p Therefore Resolved That the directors of this institution
Snd themselves reluctantly driven BY this discovered hostility
to the unpleasant necessity Of Withholding their usual AIS
coants until the extent aud character oil ths warfare
veloped pegg themselves to their good work Of ios
NB-s believed the charter of this bank granted
understanding in accordance with the petition Tor ~
should supply the place Of the late Bank oil the United
States regulating the exchanges between the south ana
and to meet the business wants OF the community
The difficulty, will be recolleced, occurred last sum
n.r with the Philadelphia Immediately after their
sumption They refused draw New York. and when our
brokers called for specie loud in their complaints The
circumstance took place with the Mobile banks and the
Branch Bank that place suspended rather than
with drafts The policy pursued BY the Bank Of Upper
Canada and led the adoption OF restrictive BY
s Provincial Ii will be by the above
loe the Charleston Bank that they have endeavored to
ak the specie draft for curalng their discounts
i. order public excitement in their avsra course
highly censurabe and which, at this critical uncure
Be attended with the possible results to the whole trad.
ss sosmuuiiy The bank appears has ample means IN
this city enable her draw reasonable rse and If she
refuses do the applicant be blamed for drawing
which have long been enjoying large profits in
e shape Of high rates xehange be expected easily
TO sego their pande and nothing but prompt expression Of
public opinion will induce them to employ their in
legitimate channel.
The Georgia Banks which have long been nurng each
other by their Of system making their settlements have
last shows spirit OF accommodation In accordance
with expression of public opinion recently made at meet
ns Of citizen. at Augusta, meeting Of the committee of tie
Mechanics Bank the Branch Of he State Bank the Augusta
Insurance and BanLng Company and the Georgia Rail Road
1ancs Bank held which resolutions we're passed. roh
biting those institutions from paying out any other than their
issues and establishing general system of settlements
with each other and with the interior banks This will tend
greatly relieve the citizens Of that section, in much
banks being freed from their mutual ealousies will be
enabled to grant greater facilities 10 the public.
The prospects FOR our banks allow Of little
more for actsn their part The opposition TO the
charter Of the cid banks in the Legislature seems TO be giving
way the bill charter the Rochester Bank having
pas.ed the Assembly by Of 90 to e Th, decision viii
aoubss very beneficial effect the movements Of the
cid and give The greater confidence in the future
Money at Cincinnati the lth inst. exceedingly
spe~e was worth for city per cent premium and %
per cent Cor country notes.
II stated in Mississippi paper, that the Water WORKS
Ban vckborg has changed hands, having been
~ Nj. Garland Of Florida ssd Mr. Fitch Of Louisiana
tn. Bank OF Mich the sth inst selling erchanes
q New YORK for its al two per cent and at three
Tor those OF its Branh Kalamazoo The entire circulation
&C aat tate lable usds computed at $1,000 only
snIss NJ the stock Exchange.
10 Bans il54 40 do 1870 Bank Of America 40 SO
Plenty Is4 so do 05 BIO 40 do 1870 Dry Dock 0A NV
40 do lo5 ilo 10 do io 90 do 1867 GO National l2il0
Leather Blk IN Go Canal Blk sl-5 Fransli Bank
5s do 7s 400 do 7si 5 $50 do 49, sio so do s
Ms 100 do d so do % boo 100 do ~ io $50 do ~ bS
80 so do T 80 80 do 7s 80 20 ISl 81 90 DO
49, s02j Morris aua 64t $50 do $50 Bk OF Commerce
I04 20 do o 90 do is4 80 20 do l0t go do 1870 Am
LIT Ios 80 do i0ll5 Ohio i05l-s0 Kentucky 81
50 do sd b. 90 do 81 800 80 do s7 80 10 do ST.
~ 40 s7s bnwss Illinois $50 vcLsburg 81 so do 6o nv
10 An Marine ins Co 7o-io Equitable Fire lo3i-Io Etna
Iibl-i0 Firemans li0-7a Utica Syracue lo5a25 Mo-
65k - do 65i nw-Il0 Paterson 66l245 Harlem
ga 1875 90 100 do % 30 90 do 80 sc042 Boston Prov
deacs ics,soNJ loai 40 do io1llo ston,ngton 81
ssase o. Trade.
Tomsrrsv the day appointed for the opening of The canal
Already the towbo at this city, have Large reiglis Of
rhandrs on their way 10 Albany and the North River begs-
a. reen, an appearance great activity An immense
ofserchand1e on s way west ~hch will doubtless be