Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-03-03
MONEY MARKET.
Monday. March 90 II. M,

The stock market good deal ductuating today. In
instances advance apparent; in others marked
decline North American Trust and Banking improved per
cent; American Exchange gank per cents Mohawk declined
per cents Sonngtcn per cent; United States Bank vis
IDLY affected by the position Of the resumption bill in the Penn
syvana Legislature and declined eat Manhattan Bank
stock improved cent good deal Of anxiety suppressed
for the bill before the lower house Of the Pennsy lvania
Legislature, making stockholders liable for the debts Of
institutions The passage Of such law will greatly affect
the value Of stocks; and is operation would In
the Of such institutions the schYk Baak there
the Manhattan Bark here BE- very The Manhattan
Bank has been managed by clique Of individuals who have
used to the merchants and h their own pockets
II all their private operations they have put their bad debts
and Unavailable securities upon the bank and retained the Choir
sss for their benefit By the uge Of proxies they have
managed to keep the CONTROL against the wishes Of the stock
holders resilient here These persons long they have
eei'ed THAR dividends have compnedi but the sudden
discovery Of mapractices sinks their property per cent
and they SELL uaess runous sacrifice. They
tn delinquent officers because they hold proxies Of
foreign stockholders enough control the election, and time
must eapse before the necessary step be taken This -
in which legislative interference absolutely Necessary
There but small business doing in sterling b and the
quantity Of Southern the market increases The
rate gsi per cent SA7sae4s4 the sterling There
fair demand for Southern bills aud money remains
without material alterations money continues exceedingly
scarce At Mobilson the 2O'h the State Bank drew
bills New York, att percent This created gooidea Of
sxceen and fall in rates but the bank ceased to check
. day, and prices rallied again
W. learn Saturday last rnost Of the Bank. Of Phia.
AZ h would pay their notes, the of any
csh,r Bank The cheques q dcpositors presented
marked good aud returnad The object presume, is to
decrease their immediate liabilities much possible before
the app-ehendcd passages. the fierce Bill The Bank OF the
United States paid outhcr notes as usual
The description ofpaper taken by the city banks
strcted that few persons command money Payer, with
The best will not bring connected with
old affairs renewals s Of long dates The right Kind Of
will command money At the legal rate but other paper
scarcely negotiable any In such state Of affairs
per,y especially real estate available and when sales
made is AT the rinous rate The property known
No ~ Broadway, belonging 70 the estate Of Mrs Whewas
cold today by the Mssrs Blocker This lot 30 e. ins on
Broadway and n n ms Greenwich, by 300 feet through
was valued last at SsoOo and sold Tor sOoO or
per cent The sale fair criterion for the present state Of
dhe market, and indicates the Of money.
while this difficulty in raising money on property exists the
merchants are called debts AMI their only
scrce " TO collect IN the South where their money due them
post note and rreeemab policy has however, exhausted
o. those sections Of the country and the d