Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-05-15
TO MERCHANTS.
nts By leaving letters at J. ID. CoNKI
MONEY MARKET.
Thurstlay. NAV H.; p. M.

The elements Of dseredit and arrangement Of money az
fairs still in action. The legislature of ania have
again their proceedings upon the currency
ton. This is Of itself augh with mis- chief. and the proba
bic termination Of their proceedings matter Of great
ety especially neither party policy mercantile
appeared to their recent proceedings The
stock market today uncommonly quiet The sales Of all
descriptions did exceed 1900 shares and but little change
apparent in prices. u S. Bank improved per cent
North American Trust Banking per cent
The supply OF money is gradually Increasing consequent
upon the natural process Of liquidation which is going
during the ssgna,ion orade and receipt Of produce all the
Atlantic cities This accumulation creates competition for
the choicest securities for investment but there
in trade to originate increased demand for capital
aud the confidence Of capitalists 10 not sire nghend TO de-
whch renders them less serupuous Of the character Of
the securities offered them.
Weseenty publishing some fac Is in regard to the Fire
Insurance. Companies Of this oy had occasion to apply at
the Comptroers Office in Albany, for information In
swsr to which we have received the following -
The co%p5Ce5 states tina, The Fire Iniaranes Comp Cog
Let July yesr to HIN at b., oes ~ = nei ast 81
Now, for the information OF Mr. Bates Coot, Comptroller
Of the State OF New York, extract the following
from charter Of Globe Fire Insurance Company in regard to
their annual report -
VA II sh. be the duty Of the President and Secretary OF
said corporation the hrs, Monday Of January 10 each rear
q ssPii. paid ia and De which Is,
expended pay ment by said corpora
o and how much . sal. add apmpared ne amount Of dbt,
Of dividend, made Of sustained he preceding
IN whieh the secured; which shall
Fned and affirmed BY SAID president and secretary
hs frsf Circuit"
This same clause contained the charters Of all the Fire
Insurance Companies Of this city, with the exception Of three
the Uaed statos the Bowery and the jefferson With lit
tie research the Comptcer could have possessed himself Of
this fact concerning the duties Of his Office These clauses
inserted all the charters subsequent 10 the great FIRE In
1873 Previous TO that the statute required them TO report 10
the Comptroller We shall in few days this question
Of the Fire Companies than which class OF Institutions
quire thorough ov.hsunl, Many Of the Companies
this time, general rule, nothing without g alton
The question OF the general bankrupt law discussed In
the u Senate Tuesday The difficulty Is siiIl in
the way passage The broken banks their speculs
supporters resolved that tuions shall not be in
ouded in action and that the rights Of creditors shall he
dsrs ardsd and noush The utmost tina, has yet been
yielded tue unanimous demand Of the people n the United
states Ger uniform bankrupt isr s proposition to relieve
debtors from their endorsements certain conditions
This s literally Lothing That which the people OF the UNI
ted states demand a. that fraudulent debtors whether they
be banks or broken spectators should be compelled TO die
gorge their pundr and scharge their dbs TO private ind
viduas Security for property the great desderatu
and is indeed doctrine when told that the
pey Of creditor under the protection II the lawswhen in
the hands Of individual and when in the Glitch Of
corporation.
The amount Of Indebtedness in the United States may be
cIassed thus according to the last estimates
Due by corporations bills post notes bonds s2soooo
Do individuals TO the banks 40 100000
Do Individuals to each other. ......... $50 oooOoo
Told mas. Of Indebtedness ssao GOO 600
Ofths oant probably s5ooooo 600 Ia ssrnsnthais the
means liquidation do not exist II consists for the
mart Of deprecated values large pro )oon oft Is due
IN. banks and the secsres thus held Cor IL mostly value
stock The capital the banks have invested in these
and have therefore been obliged 10 borrow
Themselves bonds and noessd their ercp
sng bile The borh,r. eastern, and EarOpesn capitalists