Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-07-15
MONEY MARKET.
TuesJoy. July 14--6 II. Nj.

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r.e stack market is very dull, owing perhaps in
great measure to the absence of great poi'ioh Vi ~
hrok from the cv Sales at the board to-day were
ANAL at auctuang prices United States Bank improved
per cent N American Trust and Banking 20. oeohheu
per cent: Deaw and Hudson Harlem Il Dos'oh anu
Providence l. Stonington There were saics Vi oiiiS
on Bamore at aa2i per cent, Philadelphia at . per
cent In uncurrent money the chang is immateriai'
bore arc some Government Treasury notes in circulation
NJ 10 months bearing per cent of denominations low
as $50 There also quite supply OF new description
of post notes offering in the market low 75a
40 cents on The dollar They purpor to be $1,000 post
notes al thr Louisville Cincinnati and South Carolina
Railroad months to run, bearing per cent interest
These notes been issued to the extent of S5OOoo in
ayoenl 70 the contractors on the road and offering
in his market IS per cent discount but few people will
ouch t'cri however, at any price. The State OF South
aroao -a subscribed SI,OO0OOO to this company. The
da Tor This kind of fancy security has gone by Capita
lists have only lost faith in fancy railroad and other
sompes but re securities of state city which lends
= credit these less marketable than those
are this Is ot practsed 1t for this chiefly, that
" stocks Of the Southern, South Western and Western
rates stand low in the market Their credit and stocks
81 bankrupt institutions. Ifthe ques
ton Of lon is difficult where the debt ola State
contracted directly for its uses, how much
dicuit viii be to pay interest and principal of money
lost in banking and railroad speculaons.
Ohio and New York and city have hitherto been
comparatively free from this practice. Ohio has not,
believe, until very recently loaned its credit to any
pany. New York has, to certain extent but has
hitherto kept far within its AT the last two
sions, however the ground work of borrowing system
has been aid which, if carried out will completely ruin
the credit and standing of the state. The city has
yet loaned its credit TO company and to this
may be sscrbed the fact that New York city stock stands
highest in this country and in Europe notwithstanding its
present and prospective large indebtedness for the water
works. Sc The Indebtedness of the city the LIST Jan.
$780, consisted Of the stock created by the Lega-
ture, amounting S55OOOo0 which had all been issued
the permanent debt and the floating debt which has since
been funded in per cent stock and sells readily per
cent. Summed up, the city Indebtedness stood thus
w atep stock, s'3eoeS0
The Floatog Debt. ................ i,26ss7a
.c, lots a; a. - 80 ss'ooos2
years, by cxravagance and Encouragement rails
ing funds enough the expenses Ifhercai
ter the should keep pace with the expenditure,
the only increase in the City Debt will be of
the water works which will is estimated cost OOO
consequently, further increase of 100000 will be ne
cessary. This will make the city debt S6,OOO,OOo.-
What the Water Works may hereafter do towards quida
ting this debt is problem. The amount is sufficiently
argets make the city government very wary how they
incur fresh liabilities.
The future payment of the interest and principle ofhis
debt will come out Of the peoples pockets in the shape
oftaNaiion While the city finances are in this position
the New York and Harlem Railroad Company, has come
forward with application the Common Council for
loan of its credit to the amount Of 100000 in per
-, =, ~, -! -, ., ~, "
,..,s. g.. -. -, ~ $50,
-, ~, = -, ., - : ~
yvaIss.,o 90 -. 49, 49,,
York and Albany Railroad.
r.,,ar 90 ,,,a h;,,,,s, ;,a,'o.,a,oa ., an, 49, 80
cit, rho sa,o I.,s,a,,,,o =, 40 -, -. -,
L., ~ a. -, e. a., ,,-... = -,
.,r,.I Ior,o SIMS % a., ,,o,,tIas,
paiIo,l tn. cor,.. Of ,h., ro,,.a, - -. -, - |
n..rIv q, The os,or .Da r,ovanon. ns,L - nj;
.a -rhis C,,,,a., - ,,..,, =, zoo, e. 40
ana hos consoonen,i, o. - % r,n ,rh
,hor;..1 o.niai 81 ~ -. :. o.o 900
I., ,,ho-;s.s an n.~oosa g. H. -, ooo 600
,aln, :, a,o ooo or % o,o h,ros a, s.o.ao, - -
,an,ho ,sa, 80 N,,,ahor ,s,o ~ - -, 49,,
,s,.,. 81 a., ,t.I -. - " $500.
The eSpcnses of Tho road werr 'Ss,o,o
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Loss Slo3,133
Lust year he company extended us rails through Cen
IRE street 70 Inc cry iall-to 90 which, It borrowed mo-
ney N wan street when this money became due, John
ware hea the companys bonds for $4,000, in pay
meh LOT winch the company ISIS led 6oOo shares of their
sooA az - per cent discount 10y which means they be-
.S' y" s'OO'O0V 'or 'he payment OF siSopco-
lu'''''''i 'nseS n'De INC "ho'e number oil shares
'''"s IT, ~, "a -, 20 eaen siloolSo
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Total Capital sIAiO7so |