Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-07-21
MONEY MARKET.
Monday, July 2O-6 PM

We have aran few DAYS later from England, by the
way Of Boston The money market has. however, under
gone no material change since the adyces by the British
Queen The most material feature the continued decline
in Bank Stock owing the nature OF the evidence be-
fore the Parliamentary Committee. According to the re-
turns which we published yesterday the rest Of the banks
has reased during the month of June f5OOo The cot
ton market continued improve apparently under the in
nuence of certain unounded rumors set aoat that the
cotton crop the south has been injured by inundaon
II this has been of the improved price, reaction
may be looked for
The stock market has eviuced decided decline in
prices today Harlem fell oil per cent; United States
per cent; Delaware Hudson | per cent; Mohawk per
cent; stonngton per cent; sales of bills in Philadelphia
were made at u a per cent discount, which is falling
off.
There are in circulation many bills Of concern called
the Globe Bank" at tendays sight Ills concern has
not that we aware filed any hill with the comptroller
or obtained any regular bills pledge of stocks The
hills which issues are Illegal and should be avoided by
| the public.
The application Of the Harlem Company for loan of
saoo 900 towards extending their road through weschcs
ter county too preposerous to receive the serious at
tenton Of tho Common Council but the attempt Of the
Company 10 represent their interests identical with
those of the original New York and Albany Rail Road
TO nurc the latter Company, and retard their
success The inhabitants of Putnam Dutchess and Co
umbia counties are among the nourshng and sub.
stana arrc uuralist that the world produce. They
are very generally possessed Of large surplus, indepon
dent of the capital employed in their farming operations
and primary wish Of theiri to employ that surplus in
the construction of Rail Road from Albany TO New York
both rs Of constant and rapid communication with
the commercial emporium of the L. States whereby their
interests will be much advanced aud also profitable
and safe investment Of their capital where will be under
their own control With this view, charter for the Al
bany and New York Rail Roai obtained, emitting
them to construct road from Albany to the City Hail. in
the city of New York The obstacle in the way Of this
has been the building through wcscheser
IT, This would have been long since surmouned but for
the manpuvrcs Of the Harlem Rail Road That
was got up and built by spectators in Of specula
ton a. the expense Of $4,000 per mile They
heavily in debt and have gone behind hand about $4,000
per yea. The road being completed from Harlem
% City Hail. and in the most prosperous of the year.
was found the expenditures, incl ulng the in.
erest on the debt Al the time strong opposition
has been started by line Of stages The fare the rail-
roai from City Hall 10 Harlem is IS cents The stages do
most profitable business cents, ami rapidly rciu
cling the travel the roa The prospect Of reaL
ing dividend in the present state ofthngs is hopeless
It became policy ofthe Iirlem Company
obtain f possible the direction Of constructing the roal
through Westchestcr county and consequently handle
whatever money may be appropriated by the city
60 aid in its construction This could be male very pro-
ftable speculation TO the managers To do this
ccssary obtain the Of the New York and
Albany Railroad Co. to application to the state legisla
turc for the privilege to extend the Harlem Road This
obtained by representing to the Albany Company th
the Harlem Company hal the money already go right
on AMI build the road rs the privilege obtain
ed with this impression, the Albany company con
CURED, and the legislative assent obtained II
then appeared that the Harlem Company not only
without means, but heavily in debt, AMI was issuin,
scri, 20 nav their debts dollars for The Duchoss
count farmers arc not willing TO trust their property
the OF such concern as that and they will
have nothing in common with tho Harlem Company.
Tber charter sin remains cool to down TO Harlem
river or civ H,n IL they rlc,se They free from
dent an have ample means 20 20 viii their un'er,a
hing, aai viii DO 80 In opposlon to iho Harlem Co ri