Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-09-28
MONEY MARKET.
Sunday. Sent "a. 80 II, NJ.

in London per since last alvices. Eschcquor
bills have also fallen lis The interest OF the general
question much heightened by the popular disturbances
m Paris the failures in Manchester the details which
will be found in columns. The difficulties seem 10
arise mostly from political causes The harves. was nearly
all and abundant the general state OF CONNER
sial affairs healthy. great deal of the panic in stocks
was no doubt the effect of obbing, every rumour being
put afoat depres prices Among others ruinor was
current Paris in high quarters that the Bank of England
ahou; suspend specie payments, and to request
loan from the Bank Of France of fr f3sooooO
The panic had, however, its usual effect in creating
scarcity OF money
some steps Of rather al kind in banking affairs
have been resored to by the Commercial Bank OF Man.
chester enable them to continue business, one of which
proposition to those who had deposits with them pre-
vious the suspension to allow them to he retained on
ravent interest the rate OF per cent per annum-
They were offering the extra rate OF interest for
additional loans enable them to avoid for the present
neng to market any OF their securities in cottonms
and machinery which could not fail in the existing state
OF affairs, to prove utterly ruinous
The export the precious metals continues, and may
have its origin partly in the increased demand, for them
on account of the move ments on the continent
The market for America securities appears MOTTO have
vet revived Mr. Samuel Jaudon the agent Of the United
States Bank has returned in this vessel his return this
critic al period might look little ominous We learn,
however he brings $500 eco in specieprobably
! 10 enable
month hoevern order meet his Liabilities the other
side for the loan ofast year. is also stated that General
Hamilton as succeeded the continent, in negotiating
1.-The Texas oan-but to what extent we are not informed,
In is expected that the apprchensons caused by the war
k-mors affecting the prices Of European stocks may cause
Investments to be made more freely in American stock.
altogether commercial elements in England present
singular conflict which the next arrival only can I'M
lavel.
The stock market yesterday presented no new features
aes were limited slight fuctuaton in prices United
stes Bank declined per cent, Harlem improved per
tn stonington + sales of Indiana per cent stocks
lere made at ISL, an improvement OF per cent
There are in circulation counterfeit ones of the Union
nh of this city we have been shown one letter II, No
q dated June l. 1882 engraving coarse, and the sigma
tie badly executed.
rae general state Of the money market remains nearly
dssame The antle business doing approximates
aalv 10 the cash system that bu, little paper is created
,se kind sought after by the banks As the exchanges
isroye and the affairs of thu interior grow better, by
tn natural OF produce and economy in purcha
So the country paper here improves in price Indiana
sta q notes bought at 20 cts the dollar, and the
Gs at So At Louisville, Ky the former taken al &C
and he latter at 81.
arrangement of the currency Of the states
dung the past caused by the failure of the United
s~s,s Bank which by causing the suspension Of the
hank Of the southern obliged the banks of the
ehr TO suspend conr act their movements to
place hem beyond the reach Of the nonspeeie paying
bank. at a time when abundance Of the crops en-
ceede all precedent opened field for the small banks
OF tbs state, under the free banking law, to circu-
late their fraudulent post notes TO very great ex-
tent. These concerns and their movements have
unreTnrngly followed up, and by doing, have un-
doubedy saved the public large millions OF dol
lars The operators in these transactions after obtaining
funds through the OF association have frequent
" used those funds basis OF another order ope
Tl,a tl.nl In
cases been resuses,e old bank, to purchase
the coairo still in operation. We arc led to
e remarks from the the majority Of the stock Of
Union Bank OF Ohio has recently been purchased
ne Sc, mour @. Rsnck, with Geo. s. Willis, Hoiser
Reed. This bank years since failed, and was
sied BY Bates surteos, brokers, at Cincinnati. This
is the same who, year eighteen months
s,nc. acondcd with 100000 belonging different banks
an Ohio The credit ofthe bank has been very good
George willis OF the proprietors, has, for the past
year figured post note agent TO extent He for
srly kcIta public house Milwaukee w. r. Since then
he IA. ben travelling agen, for the " North River
Ranking Company poet association in this city, Of
which " have heretofore hal speak In Jnnu
sry .s he le here with exchange acceptance and cert
fsa,cs Of dstosae itsuei by the North River Banking
Conpany IN blank 10 be 6iled up occasion might
aarc 20 su Purchaser With these he reached Cncn.
Bai ana reI, a.ci the Lafayette Bank Of that city
that he goiag south 10 purchase Cotton sud would
\
the circulation thus offered, the Lafayette Bank
actually discounted $1,000 Of this paper lie then
a. New Oricaas AMI obtained Of the Commercial Bank
discount Of $4,000, md actually drew s97 600 when the
Herald- received giving account OF the North
River Bankinv Compny. This upse, his operations in
thai quaer. o. thea ur the Mississippi and
his o~n expression, ~ managed To do pretty we'll hy
kcspiag aheai o. the Herald- lie certainly deserved
soae recompenss SCR ts sctvity in doing So The pre-.
e o. oss oPsrstioas probably the basis Of the
movements with the Yves, Union Bank. These trsnssc-
ofthe minor evils, growing Of the i'm.
affiliations q he 4. 8 Bank, with which the
ruhlic has contcnf
o. regsrd 10 the r. position Of the United
Bank, TO- iiarrisburg IeTorter has. he following
We unsrs and that he United states Bank ackn cdg
,Asi ~ sboai slion' q 'io, rs llegc in Europe
gaaltf q M Esb- handed to Messrs Price Brown
As :, .,ssf,is' 20 the .ssr'sss wits Of error 70
saeks sas ssseos in s,eis 70 Indemnify them against
Che consequence q r ship, and having in these
al vou' other .al'i5sked W al their other az aabe
sds thsy have not single dollar OF actually valuable
property % ousf 20 the rsor banks Of this state either
ygs,' . a. sssar ~ ,s ds.a Of upward. q % COO
go which usy nov ove them. IN the face OF this debt,
zach thel canno' fef q q perfectly obvious tina, this
tsns c.ngo rssuEs n lnuay ncsi aud without the aid
q hs crs,sr tasks hat month pass GU, Of ex.
euce nd into ths elias Of departed corporations Il is,
tasrss dersnAsn, ~ yea short extension Of its
fata esstencs gpoa tanka whose captals
" msfrod in the uotes Of b. Great Regulator.
Ths burtesa banks nisielphis have on, about
t2so"p ofsircuiating t nes1ly an Of which held
tyths BAEk and tAls fofm the greatest bar their
rssumTon Independently % ihai concern The prevail
rs arsiau - tbni ths a. Bauk Will sesl an extension
q NJ ssspssson lao iof smother year 10 reference 10
as opinon. Governor roter hs late reply 10 the ci,i
ssu~ 81 rtisburr. holss fhs ollov inE language
A. cousiefrd fhs auspsus o. Of sfsei~ paynens
sna~s h. iofKsr tinus thar neressary shsll
ssstn sny tsrshsr ssisnson. ths hsnks esnno, NEE,
h~r emsnnsu~@ts ~ ff 81 fnnaary newt ~ill he
a~r~us wissert.ns su' > oes. dc production q