Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-05-04

Friday, May S-6 p. ~.
We cannot record any greatly increased activity in Wall
TO-DAY good deal Of confidence but the bank
inr institutions do with that freedom which would
transactions with the full assurance
that the will not fail them at critical moment Thus
although there sucensy Of among merchants to
meet present wants. plans of business not carried
out.
There good feeling prevalent at the Stock Exchange but
great of animation evident the part Of Dealers
Sales today been limited small improvement in prices
Bank of Commerce went per cent Dry Dock per cent
Delaware Hudson per Ohio Life Trust per cent
Bank per cent Bank of Kentucky per cent Mohawk
per cent N. J. II. r. per cent Harlem receded per
cent.
The organization Of the institutions under the new law has
with delay many nave been pro.
jected basis to which responsibility can be attached
that there feeling Of great drus engendered among SUD-
sana In the first flush of the excitement Of the new
banking SYSTEM probability that the charters
Of old banks would net be renewed at their expiration Inc
that of the Bank Rochester, the state legislature
continued great length of time, and IN the interim '
opinions of the banks who were opposed 10
the charterng Of the old Institutions became changed ana
both the charter. Rochester and the Long Island
banks have been renewed
great many of the banks started not by men Of
and capital forward to lend to the
needy good security at fair rate Of interest," but by those
who associate together not to lend but to borrow
money Europe property denomnatel bank capital at va
lass affixed at their will and pleasure The operation
to create system Of fictitious credits which must inevitably
end in explosion
The class of dealers directly connected with these
situations are regular dealers OF the cybut the
sneers whose operations highly detrimental to the inter-
Of both the importers and the obber The American Elk
change Bank the most prominent institution Of this charas
This institution last year sent agent London for the
sale of their Stocks but the English public "shy of the
uTcien Of
partly cause the failure of that mission. Since that time
the bank has done little until The departure Of Morris Rob-
nson Esq for Europe announced Application appears,
then made that gentleman to his the Euro
pean agent the Mr. Robinson stands high
intelligent banker and very avoraby known 10 the
English public but does folly that they will purchase
stocks which insufficient security themselves merely
he is the broker for the sale Of them In the card Of
the bank which the agency Of Mr. Robinson announced
it stated that the capital stock the institutions 000
Of which 76 has been paid H. If this has been paid in
cash. ntimad where is the necessity agent in London
for the disposal Of the remaining for which subscrp
books also opened in this ciy7 This seemingly bears
deception its face If this amount las really been paid in
why does the 60 wi tn its business? has
only been shued in and hued again2 leaving
irresponsible skeeton which may may receive life and
subsance according the of Mr. Robnson' UNDER
taking.
The sale Of stocks Of this pisn the London market
of any real benefit the public large They only
create fictitious credit which accumuates the balance
against the country without its yielding actual equiya
ient only the operation the auction ysten which
greatest evils against which the regular merchants
have contend The healthy trade Of the csuRtry thus in
ured rather than benefited by the import Of foreign capital
under such circumstances While the specie Of the country
liable for it time Of revulsion leaving nothing
bat problematc Of institution from which git
innate dealers receive injury rather than assistance Under
these Of opinion that this Institution
not calculated to be of that utility which may be expected
from others.
We MENTIONED few days since the anticipated arrival OF
Mr. HONEYWELL from Paris to establish branch Of the house
Of Wees Co That gentleman arrived today in the ship
Poland and will shortly commence operations
The following the report Of Treasury notes fer the month
Of April, compared with the month Of March =
.7pril lst Nay lat