Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-04-16
MONEY MARKET,
xVednesdnv. April 1 Sc PM.

the election; moderate amount Of business ohy was
acted al the Stock Exchange uctuating prices Harlem
declined per cent? Mohawk Delaware and Hudson S'o
nington improved per cent? Boston
4. North Trust and Banking Company i Farmer
Trust l. Sales of Ohio SIS were made at 49, The Money
Market continues to b by the progress oil
events yet perhaps still on the decrease
arises from the that much of the old mercantile paper an
reaches maturity quidaed while the offering for discount
paper is small Of idle capital there
fore accommodating Capitalists are still afraid oil the appear
snce of things South Pennsylvania, Georgia. aud Ala
bama are very pecarous suation there is scarcely any
sale Georgia Alabama bills the condio OF the BANKS III
those being alarm the worst fears IN
teestsd in those quarters The premium on speeie IN Tue
Southern ports, and the rate Southern bills eohhue " Ia
crease every indication that affairs are again
ting into train Cor explosion The country money -, h
State remains about the same; the supply s"a' anu w
very little reaches market through the hands oil "er'a
as remittances from the country large proportion ., ~
now unon the market has thrown by the banks
through their asens This system Of procedure should be
into bv the comptroller. That infamous concern inc
CITY Trust and Banking Company has al last er
having made against 1t, been served WI" an
Injunction from the Chancellor at the insgaton OF the
Comptroller There others oil similar stamp 'ha
have been in operation nearly and have deirauded the
public terissues post-notes certcates
and other illegal paper 1.-THE duty
of the Comptroller proceed against them ALL and
wound up.
Within the last few years immense amount Of American
have been negotiated in the London market The
similarity of language and rapdity OF between
the two countries has obvated all those difficulties in the
have hitherto their introduction into the markets u
the Since the establishment of steam commu a.
Europe varety OF causes have conspired 10 pre-
result From observations made by us when in Paris
we were convinced that that market contained rich field for
the negotiation of American stocks whenever events should
conspre give them favorable introduction The following
extract of letter wen By Mr. Bennett when in Paris dated
August and published in the Herald of October 1888,
viii how strong impressions at that time :;
Yet Paris s srss centre Of hnanes and f s s
London been the market for The sss of of
American s + nf fa' but
quoted the they are IN" % 0 sss ap hs
Now it Is fact the greatest mart for
%s:ss ;:S e:
$si sss' sIss; $; s:ss s
higher rs ct s
os p ss% 9
ehd or Hotingser quantities Of AmeTiea securities may
If s London Market ~A''" the SPECTATORS ''''F WI"
At the time this letter was written sales Of American Secu
rites making large amounts in the London Market and
with which stocks taken by capitalists
there prevented any great enerons being made to find ano
This continued TO be the UP to the fore part
s3s when the agitation of the boundary question st checked
confidence in the stocks This followed by the contrac
Of the in Great Britain by the struggles OF the
coin Simultaneous with these events Eng
land currency Of the continent underwent reaction The
Belgium stopped ment and the banks of France
the National Bank Of Austria forced to lean the
Bank of for support This followed up in France
by the political difficulties of April and May, with general
proaon of commercial confidence the time that the
pressure on the England drove sellers of stocks to
OTHER find buyers Commercial distress prevailed
greater extent both the continent Of Europe and
England uat October when ITS effects on THIS SIDE OF the
evident in the failure Of the United States
Bank institutions which with her depended the
negotiation of loans Europe for their support About that
time affairs Engand had reached their turning point, and
since then the bullion has been gradually flowing back to the
vaults Of the bank This has been partly caused by the slowly
returning confidence in France owing the accumula-
ton capital Speculation dead; and as but little
disposition manifest commercial enterprises,
undoubted securities in demand Just when affairs had
reached this point in Paris Col James b. Murray went
from London and effected sale oIndana stocks to the amount
or Eo behalf OF the North American Trust and Bank
ing Co with the houses Of Foul Co and Blanc, Collins Co.
Thas the first sale Of American stocks made Paris
and the suggestions made by Col Murray that OCCASION
have sheet published ia French accompany the scrip,
explanatory Of the nature of the stocks rejected by Roth
schd but have led association of eminent bankers
for the purpose Of bringing American stocks eectuay before
Partisan public The of this association is fully de-
scbed the following translation, which received by the
last packet:
ASssrn;tIo. ron rus p,,s. o. E0.EIsT BOSo, TO
& Co, DA'sisa, DELEssERr Co.. HOrrnGUER Co.
At time when the increasing abundance Of Money and
create oSjscts nyssimsni Which unite proper
naat Co 4 Dsssisr Dssseri Con- and iiottnrucrS Co
have saI shed an Of which the object is 70
tenton of the ADMINISTRATION; i purposes to convert into
Bonds Bearer with Dividend Warrants payable in Paris.
the Office Of the Administration, aud in London that Of
Messrs Barring. Brothers Co, and in this
capitalists, such these funds conf
deNce by which they have hitherto enjoyed aud
the exscude with which the dividends have ALWAYS been
paid. 49,
The Adminsrati will by issuing Certificates
SIX per Stock of the State Ohio Five per
Cent Stock State Of New York Five per Stock
ofe City OF New York and having already for
Bonds Bearer, portion Of these 2nds imlae
diaely offer its bonds to the public
The Administration will likewise receive, at time, ORR
gn OF the State o Ohio and Of the State and city
York with the corresponding Powers Of Attorney,
dre for which will deliver It's Bonds TO bearer the
18TH. Commission on the Exchange of the original
Stocks the Bonds 10 Bearer with Dividend Warrants pay
able early the end Of isis Paris London accord
ing 10 Of the aud ahalf per
the nominal capital, without further charge.
2ndIn the dissolution Of the Administration the
expiration OF the sss the only charge for tetrsnsfr Of
the Bond to Be into Inscription, will be the actual
yense iacurr' d. without any Commission.
the retranser be required before that period, the Com
mission will per all charges ia such
delivery the boad with the unpaid dividend warrants the
will with the least delay possible, the
the required the documents BY which lac
may himself effect the transfer IN the United States
~ BAny further information be had at the Offices Of
either OF the above named Houses in FAIRS, that Of Bar
effect the exchanges that may be required.
Amounts If Bondsfob dehrered.
Nrw foRx STATE STOCK,
CAPITAL Interest in Interest in
Paris London
Bond Of s ~ .:: s.ss Di''d SsSs .se'T'"''
Se,o 2sof fsisO Sia Oct. and ia .4pril
Nrw NOHK