Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-10-09
MONEY MARKET,

MONEY MARKET.
Thursday, Oct. SIP. NJ.
The Stock market was again heavy this morning, and
prices of most pton declined Uuted States Bank
per cent; Delaware and Hudson per cents stonngton
per cent Farmers Trust svanced per cent Sales of
Illinois per cent $780, made at SOL Indiana Elves,
76l.
The sales Of New York Erie Railroad Stock advertised
for sale at auction this morning, again indefinitely
postponed.
The United States Bank has appears directly acknow-
lodged its inability without assistance from the
other suspended banks from which she has directly solicit
ed aid In consequence of this application the following
notice has been circulated
BANK NORTH AMERICA,
October 5, 1910.
Dear sir-At meeting of Directors this day. the follow
ing Preamble and Resolution unanimously adopted
Whereas the Bank of the United States has solicited the
aid ofthe other City Banks to enable that Institution to
resume specie yments upon the 18th January and it be-
ing understood that, without such assistance, it will be
unable to effect that object,
Resolved, That the President be requested to express to
the Presidents of the several Banks the entertained
by this Board, of the necessity OF some immediate and
united action upon the applications that Messr Atwood
and Robins be committee to represent this Bank in ge
neral conference this important sube which is here
by invited to be held the Office Of the Board Trade
Thursday evening next at half past o'clock.
' JN0. RICHARDSON, pres't.
1.-THE fourteen banks of Philadelphia wish to avoid the
cheerror the United States Bank which the endea
bolster institutions they will look only to
their individual safety The period of usefulness
the part of the United States Bank gone forever En-
deayors proract her existence only be at the ex
of the stockholders and rebound to the dscred OF
American securities generally The credit ofhe Estates
Bank gone that scarcely be resusated
is working at disadvantage and consequent loss, and
National Bank is proposed the more successfully
is up the smoother will be the operation of the
bank.
Events which have ranspired since the arv al Of the
last steamer from Europe, of such nature to in
the probability of the dissolution of the institution
1t is we'll known that Mr. Jaudon's establishment in
Europe agent Of the Bank he has been its main stay
On Mr. Jaudons first arrival in Lendon he was the object
of dislike The petty jealouses of those who were for
mery agents of the bank, and the powerful monied
interest, who imagined his establishment there would
CONFLICT with their interests arrayed in opposition to
him. In very short me however, his great urbanity
of manner strict business habits and the gradual deve
lopement immense of mind gained for him the
respect and admiration the mercantile Of Europe
high qualities saved the Bank from destruction last
year and sustained since On his late Pha
delpha he had occasion to express his dsapprobaon Of
the of the Bank for the last year, in which
opinion he has been seconded by Mr. Bddle, Mr. Cowper
thwaite other officers who have left the concern and
serious breach has arisen. The Directors, and
ny Stockholders longer disposed to take assertion
for facts and determined to investigate One of the
Stockholders recently for his own saacton spent three
days in examining the affairs the bank and found every
thing in such utter confusion, that no correct decision
could be arrived at He however, satisfied himself that,
with the best management and the most udeious appca
ton the assets the stock might be worth so censnot
Under all these circumstances Mr. Jaudon has become
disguised with the state things and is highly proba
BILE he will quit the Bank Whether the institution lives
dies, it can no longer occupy it former position as
of communicate between this country and Eu.
rope. This will leave opening for new money power,
for the construction of which materials already organ
isng in this city company of with large car ita'
propose the of house. the European agent
of which to be Mr Jaadon, resident in London. Such
concern will Immediately Gil the space left open by the
failure Of the United States Bank, and form powerful
combination, which will put down the rivalry of the
Primes and other houses The reputation which Mr. Jau
don earned for himself in Europe last year, places him
among the first hnanciers Of the age. Mr. Bidde
theoretical rather than practical Gnancier and coming
into the control Of the Bank at time Of great prosperity,
he carried theories successfully for time
but he shrank from tho task when speculation fol-
LEVIED by revulsion. II is then that find Mr. Jaudons
talents great practical know ledge and cool Judgment
rising above difficulties and surrounding obstacles
the causes of which he had control Amidst Of
general eyulson and dscred he has the admiration
and respect OF the European world His
the other side now the agent and representative of
a new and unembarrassed concern, through which the
intercourse between the two countries may be renewed
with perfect confidence will have the happiest effect
The following a statement Of the finances of the State
Of Illinois -
F,s.scrs ~ TN. STATE o. ILLrSor;
In arcoun OF Internal mpre system. $3.50 500 ~
~ Illinois and Mich.sa Canal. 3s9O0Os %
Revenue and State House i,so,ofs 10
Total .siaiao-ss II
Available means belonging TO Internal Improve
m,ni una. consisting of Bank stock, aud debts
that " n probably be paid and hsirosi Iron sS7Isy5os
,,,labl. IN. aus belonging Canal Fund
Total. go. S3,sx,5oo %
Thi. ,a.t account deducted from the first makes
the entire indebtedness OF the state, above her - 49,
s,.ahie mesns -. ................... Ssslaois Ia
Her unavailable means are her Lands
Belonging to she Internal lmpro,e-
BeIon. lag to the Canal ........G 7s,is2
Total. ........... .slo,sifi acres.
In,,.,lal, debt. due to the anal tund .. soi5St 50
due Internal Improve est Fund. 552,eso %
due Revenue Fund for state House. i2s,sOs 90