Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-01-06
MONEY MARK EFT.
Sunday, IAN. 3, O II. M.

The stock market yesterday, evnced material change
Sales moderate and prices still firm and looking up MA.
Trust and Banking Co. improved per cent u s. Bank per
cent; Del. Hudson per cent; Utica Schenectady per
cent Large sales Of bills made lsdephia at "a
per cent? aud closed plenty the former rate In sterling
BIDS there bu; little doing; the tendency of the rates
downwards.
The decision of the Errors the case of g.
Alien, the Merchant Bank of NV York. Of great
porace from the bearing will have upon exchange opera
tons In this case bill by New Yorb merchant upon
Philadelphia house deposited in the ordinary manner
with the Merchants Bank, in Y, for collection. 1t was
daily transmitted to their correspondent bank P,dsphia.
Acceptance refused Of which the notary of the Phsde
pha Bank neglected give motto. the holder and endorser
at Nav York. it not being required BY the law Of fhade
Phs In Consequence Of this and Of the dawer failure pay
lost, which would otherwise have been
FUNDS the hands Of endorser THE ground neglect
OF notice the endor'er also held discharged suit
against him.
This decided in favor Of the bank the Superior
Court end conrmsd In the supreme Court the Court of
Errors has reversed the decision in fsrSr of NJ Allen
Thu. establishing that foreign bill when paid mast be
protested the manner prescribed by the law Of York
and not according to the law where such prote, made T
very imp to all engaged exchange operations.
We have received the message of Gov rasoH Of Maryp
II devoted almost exclusively to the condition the State
faaDce and the Backs against which he .,ronr
terms and recommends many restrictions to the
1t appears the State Gebt-sfr dedueng the snk fund
siess7s-amouns to $4,000 0O0 all &c which has b. con-
tacted for purposes Of internal improvement The amount
of interest paid by the State early Increasing in propor,o.
| to the amount Of stock sold as follows
Paid a, tn. Loan ONCE in Baltimore, in 1898, $4,000
1899 7oi 600
Tob. ls4o $4,000
The internal improvement companies are bound to pa, The
the respective portions Of the public Debt THIS
they have hitherto failed to de- and depend upon new loan, TO
effect it, The annual Of the State exclusive Of the
interest the public debt barely sufficient to d.ay the
ordinary erpenecs Of the Government which are estimated at
$3.50 oOo
The from England by the packet ship England up 10
the 9Th Of December decidedly of favorable chsra
than any which has reached for the past twelve months,
BY the last accounts the current Of which had so long
been ,etng against England had turned favor and the
bullion in the Bank the increase. This et checked
apy further I'LL in prices, but fc hung their market in
regard American affairs that caused continued quiet up
to the arrival Of the Crest Western The receipt of her
new, INSTANTLY dpeI,d all apprehension Of demand for bull
lion American accoput and the bulk OF rsmttanee she
br, ught b,isg bills Paris and HOLLAND sensby relieved the
exchange The thu, led to the belief that
Bank oEngand at its weekly meetng THURSDAY bh would
put down the rate Of interest. The Bank however has ito
foreign losn provide for and yet strong enouh TO
relax s estrieon and no change made in the Of
interest The general state Of the market farther i'm.
proved by the that the loan Of guldrs
would not be rsqu.redby the Dutch vernment.
The effect Of this Of things was instantly apparent
American sfars The stocks Of specie aging State, i'm
proved per cent and sales 4 the u Bank stocs were
de at lO an improvement Of O. the last quota
tons This stock would probably have gone higher we're Il
for the belief entertained that the Dsnk wood pay 30 sv-
dend in January 40 this iuncurc Mr. Jaueon published the
cenden, Of II, Bank for November 1882 which
published here Immediately prior the sailing Of the steam
boat, n will b. r.eoI ,cted that that statement showed
urpu, Of Mr.. JaudOn puboa ion states that
committee consisting Of Mss,r. r. Ascr, j. Vanderkemp
j. Conpsll r. Price aud Lewis wsia were appointed the
2 Noytmber to examine into the situation Of the Bank
the time pre- lou. ,h' sailing OF the packet dad not permit
C ,a,iop they therefore directed their attention to
a. L., .,.pouou items, aud estimated the probable lo,.
49,. f,Ilo